Excellencies,
GISD Alliance Co-chairs Ms. Fourie and Mr. Vi?als,
Members of the GISD Alliance,
It is a pleasure to join you at the Fourth Annual Meeting of the Alliance.
We are convening in person today amidst profound global disturbances. Accelerated climate crises, setbacks from the pandemic and economic shocks are stacking up in unprecedented ways. This is threatening our shared vision of a prosperous, sustainable planet.
Today, more than ever, we need substantial investments to advance the Sustainable Development Goals.
In the previous session, I listened keenly to the impressive list of GISD’s achievements in just three years since being established.
It is noteworthy that the Alliance has produced a standardized definition of sustainable development investment. This is important for being able to credibly assess the extent to which private investments advance sustainable development.
Moreover, GISD has developed sector-level metrics anchored in the SDGs to improve comparability and consistency of sustainability reporting and disclosures.
GISD has also launched a new “Model Mandate”, which provides guidance on contractual arrangements between asset owners and asset managers, with a focus on incorporating sustainability considerations into investor stewardship activities.
Furthermore, GISD has published recommendations on how multilateral development banks (MDBs) can further catalyse private finance and set up a taskforce to advance its proposals.
Ladies and gentlemen,
We are halfway to 2030 and the path ahead is ridden with obstacles.
I join the Secretary-General in urging GISD members to become champions of sustainable development in your engagements with business and political leaders.
Rescuing the SDGs will require innovative instruments that effectively channel sustainable development investments to developing countries. GISD’s pioneering work in this area gives me renewed hope. The platforms that the Alliance is developing have the potential to spur system-wide impact.
The Alliance is working on a range of initiatives to incentivize long-termism amongst corporates and investors and advancing public private collaboration.
It is vital that GISD’s efforts are supported by policy makers and that its recommendations are adopted by the wider business community.
Let me close by emphasizing that the only way to build inclusive, sustainable, resilient economies, is to calibrate our compass towards the SDGs. These crises offer an opportunity to rethink and remodel international finance to deliver prosperity for all.
I wish you a successful, productive discussion.
Thank you.