Top business leaders from the Global Investors for Sustainable Development (GISD) Alliance have launched an exciting new phase of collaboration with the United Nations (UN) to support the UN Secretary-General’s reforms on Sustainable Development Goals (SDGs). This partnership aims to harness the power of the private sector in advancing sustainable development.
During a meeting with UN Deputy Secretary-General Amina Mohammed, members of the GISD Alliance reaffirmed their commitment to developing innovative finance and investment solutions. The alliance, consisting of public and private sector partners, will focus on closing the SDG financing gap through various key initiatives:
1. Making blended finance work with impact: The GISD Alliance aims to develop and share innovative instruments and platforms that mobilize and direct investments to countries and sectors most in need.
2. Addressing institutional and regulatory impediments to private sector investment: The alliance will work towards overcoming barriers that prevent long-term private sector investment in sustainable development.
The GISD Alliance’s new phase will continue until 2025, with its recommendations and deliverables influencing actions among UN Member States at the 4th International Conference on Financing for Development in 2025.
Guiding this new phase of the GISD Alliance are José Viñals, Group Chairman of Standard Chartered, and Shinta Kamdani, CEO of Sintesa Group. Kamdani takes over as Co-Chair from Leila Fourie, CEO of Johannesburg Stock Exchange.
Fourie praised the collaborative efforts between the public and private sectors, especially in empowering emerging markets to address the challenges hindering large-scale financing for sustainable development. Viñals emphasized the importance of ongoing collaboration to meet the diverse funding needs of the SDGs, highlighting blended finance as a powerful mechanism for delivering impact.
Kamdani stressed the significance of collaboration in closing the SDG gap, recognizing the need for capital investment and a conducive business environment to facilitate sustainable investment. Advocacy and engagement will be integral in directing finance towards real sectors, ensuring that joint efforts result in systemic and meaningful change.
The GISD Alliance, launched by the UN Secretary-General in 2019, has made significant strides in scaling up long-term finance and investment for sustainable development. The UN meeting, attended by heads and senior executives from Citi, Standard Chartered, Bank of America, Johannesburg Stock Exchange, Sintesa Group, Agricultural Bank of China, and Investec, demonstrated the strong commitment of these leaders to advancing the SDGs.
This new phase of collaboration between the private sector and the UN holds great promise for driving sustainable development forward. By harnessing the expertise and resources of both sectors, we can make meaningful progress in achieving the SDGs and creating a better future for all Nigerians.
