BusinessMirror
  • News
    • News
    • Top News
    • Regions
    • Nation
    • World
    • Asia Today
  • Business
    • Business
    • Agri-Commodities
    • Asean Economic Community
    • Banking & Finance
    • Companies
    • Economy
    • Entrepreneur
    • Executive Views
    • Export Unlimited
    • Harvard Management Update
    • Monday Morning
    • Mutual Funds
    • Stock Market Outlook
    • The Integrity Initiative
  • Sports
  • Opinion
    • Opinion
    • Columns
    • Editorial
    • Editorial cartoon
  • Life
    • Life
    • Art
    • Design&Space
    • Digital Life
    • Journey
    • Motoring
    • 360° Review
    • Property
    • Show
    • Tech
    • Tourism
    • Y2Z
  • Features
    • Biodiversity
    • Education
    • Envoys & Expats
    • Explainer
    • Faith
    • Green
    • Health & Fitness
    • Mission: PHL
    • Our Time
    • Perspective
    • Photo Gallery
    • Science
    • Today in History
    • Tony&Nick
    • When I Was 25
    • Wine & Dine
  • BMPlus
    • BMPlus
    • SoundStrip
    • Live & In Quarantine
    • Bulletin Board
    • Marketing
    • Public Service
    • CSR
  • The Broader Look
Subscribe
BusinessMirror
BusinessMirror
  • News
    • News
    • Top News
    • Regions
    • Nation
    • World
    • Asia Today
  • Business
    • Business
    • Agri-Commodities
    • Asean Economic Community
    • Banking & Finance
    • Companies
    • Economy
    • Entrepreneur
    • Executive Views
    • Export Unlimited
    • Harvard Management Update
    • Monday Morning
    • Mutual Funds
    • Stock Market Outlook
    • The Integrity Initiative
  • Sports
  • Opinion
    • Opinion
    • Columns
    • Editorial
    • Editorial cartoon
  • Life
    • Life
    • Art
    • Design&Space
    • Digital Life
    • Journey
    • Motoring
    • 360° Review
    • Property
    • Show
    • Tech
    • Tourism
    • Y2Z
  • Features
    • Biodiversity
    • Education
    • Envoys & Expats
    • Explainer
    • Faith
    • Green
    • Health & Fitness
    • Mission: PHL
    • Our Time
    • Perspective
    • Photo Gallery
    • Science
    • Today in History
    • Tony&Nick
    • When I Was 25
    • Wine & Dine
  • BMPlus
    • BMPlus
    • SoundStrip
    • Live & In Quarantine
    • Bulletin Board
    • Marketing
    • Public Service
    • CSR
  • The Broader Look
  • Economy

Shift to ‘innovative’ financing to achieve 2030 SDGs pushed

  • Cai U. Ordinario
  • October 25, 2017
  • 10 views
  • 3 minute read
Total
0
Shares

IF countries in the Asia and the Pacific, like the Philippines, will achieve the Sustainable Development Goals (SDGs) by 2030, their government must turn to innovative financing models.

In a report, the United Nations Economic and Social Commission for Asia and the Pacific (Unescap) Korea’s Science and Technology Policy Institute (Stepi) said meeting the SDGs worldwide could amount to $2.5 trillion.

The Unescap and Stepi said the amount cannot be financed by donors and governments alone, thereby requiring the use of innovative financing models.

“It is imperative to implement innovations that can divert private capital toward development objectives to help bridge the SDG financing gap,” UN Undersecretary-General and Executive Secretary of Escap Shamshad Akhtar said.

“The Innovative Financing for Development in Asia and the Pacific report aims to spark ideas and knowledge sharing to help stimulate further action to develop the innovative financing solutions urgently required for the advancement of the 2030 agenda,” she added.

These innovative financing models include the Women’s Livelihood Bond (WLB), which provided $8 million for microfinance institutions in Cambodia, the Philippines and Vietnam.

The bond specifications included a 5.65-percent coupon and a four-year tenor. The social return on investment of the WLB was estimated at $2.5 of social value for every dollar invested.

The report stated that WLB was effective in meeting the targets under SDG 5 “Gender Equality and Women’s Empowerment,” SDG 8 “Decent Work and Economic Growth” and SDG 17 “Partnerships for the Goals.”

“The initiative was designed to be replicable in a variety of countries and contexts and to offer attractive rates of risk-adjusted returns to investors who are interested in a double bottom line—economic and social returns,” the report stated.

The WLB was able to provide some 385,000 women with access to credit, essential goods and services that enhance their well-being, and technology, as well as market linkages.

The bonds also generated over $13 million in improved financial resilience by empowering women to increase income and savings, thereby promoting economies’ demographic dividend.

The report added the WLB mobilized $20 of private-sector investment capital for every $1 of grant funding provided to structure the instrument.

The WLB also brought together two banks, five law firms and two donor agencies to come together for a common goal.

This bond was just one of several case studies presented in the report. The case studies focused on various financing model innovations, such as the India Impact Investers Council, the Thai social investment taskforce, India’s corporate social responsibility law, the problem-solving R and D program of the Republic of Korea, and the Social Outcomes Fund in Malaysia.

“Public policy plays a key role in enabling innovative financing for development by creating a favorable ecosystem where private capital pays more attention on SDGs,” according to Dr. Song Jong-guk, president of Stepi, a leading Korean policy think tank in the field of science, technology and innovation.

The report analyzes this and other innovative financing mechanisms in five core areas, namely: strategic leadership models that promote impact investing; policies that unlock corporate investment for development; private-sector financing products for development; innovative public financing models for science, technology and innovation; and systemic approaches to finance and innovation as means for development.

Key recommendations for governments include developing an impact investing strategic road map to guide the development of an innovative financing movement. 

The report also underlines the need for governments to provide incentives for the private sector (for example through public procurement or tax incentives) to move from economic-driven investments to impact investments that generate social, environmental and financial returns.

 

0
0
0
0
0
0
0
0
Previous Article
  • Economy

Conference highlights results of 3-year OWWA and AIM study on OFWs

  • BusinessMirror
  • October 25, 2017
Know more
Next Article
  • Economy

RCEP ‘mega trade deal’, FTAs to boost trade, investments in Asia, Pacific­­–ADB 

  • Cai U. Ordinario
  • October 25, 2017
Know more

Know more

Know more
  • 138
  • 3 min
  • Economy
  • Top News
  • Tourism

Tourism players hit choice of Grab ‘guide’

  • Ma. Stella F. Arnaldo
  • June 7, 2023
Philippines-European Union
Know more
  • 38
  • 3 min
  • Economy
  • Top News

PHL spared from Europe’s IP rights watch list for 5th year

  • Andrea E. San Juan
  • June 7, 2023
Know more
  • 127
  • 2 min
  • Economy

DOE finally issues amended rules on RPS program for off-grid areas

  • Lenie Lectura
  • June 6, 2023
Sugar Regulatory Administration (SRA)
Know more
  • 43
  • 2 min
  • Economy
  • Top News

SRA chief reports ‘significant decline’ in refined sugar production this year

  • Raadee S. Sausa
  • June 6, 2023
Camarines Sur Rep. LRay Villafuerte
Know more
  • 41
  • 3 min
  • Agri-Commodities
  • Economy
  • Green
  • Top News

House resolution seeks to gauge impact of fertilizer use on farmers’ income

  • Jovee Marie de la Cruz
  • June 6, 2023
Know more
  • 31
  • 1 min
  • Economy
  • Regions
  • Top News

Polomolok farmers set sights on agripreneurship

  • Jonathan L. Mayuga
  • June 6, 2023
cigarette, tobacco sale
Know more
  • 63
  • 2 min
  • Economy
  • Top News

BIR sees higher take in tobacco-related taxes with hike in number of sellers

  • Jasper Y. Arcalas
  • June 6, 2023
Column box-Integrity Initiative
Know more
  • 80
  • 2 min
  • Column
  • Economy

The purpose of business in society

  • Henry J. Schumacher
  • June 6, 2023
Know more
  • 75
  • 2 min
  • Economy

Release of OSW resources framework to further boost RE investments—DOE

  • Lenie Lectura
  • June 5, 2023
Know more
  • 64
  • 2 min
  • Economy

Petro firms roll back fuel prices at the pump

  • Lenie Lectura
  • June 5, 2023
Know more
  • 72
  • 2 min
  • Economy

Vicoap clarifies roadworthiness, verification test required for vehicle registration renewal

  • Lorenz S. Marasigan
  • June 5, 2023
Know more
  • 90
  • 2 min
  • Economy

DAR, DENR tie up seeks to improve land administration in Cagayan Valley 

  • Jonathan L. Mayuga
  • June 5, 2023
Department of Finance Secretary Benjamin E. Diokno
Know more
  • 128
  • 2 min
  • Economy
  • Top News

PHL could bag elusive ‘A’ rating by 2028—DOF

  • Jasper Y. Arcalas
  • June 5, 2023
Know more
  • 255
  • 2 min
  • Economy
  • Nation
  • Top News

Ilijan natgas plant reopens, starts power delivery to the grid–DOE

  • Lenie Lectura
  • June 2, 2023
Know more
  • 173
  • 1 min
  • Economy
  • Nation
  • Top News

Palace EO seeks to boost integrated financial management system in government

  • Samuel P. Medenilla
  • June 2, 2023
Bureau of Customs headquarters in Manila
Know more
  • 333
  • 2 min
  • Economy
  • Top News

Customs’ annualized collection rate in May grows 17.36% to P77 billion

  • Jasper Y. Arcalas
  • June 2, 2023
Natural rock formation of limestones on the coast with windmills for electric power production. Aerial view of tourist attraction Kapurpurawan Rock Formation in Ilocos Norte Philippines,Luzon.
Know more
  • 172
  • 1 min
  • Economy
  • Top News

118 bidders prequalify for 2nd round of Green Energy Auction program 2

  • Lenie Lectura
  • June 2, 2023
Know more
  • 175
  • 2 min
  • Economy
  • Top News

DTI launches import surge monitoring system as RCEP takes effect in PHL

  • Andrea E. San Juan
  • June 2, 2023
Scenic view of TPLEX on the way to Baguio City.
Know more
  • 336
  • 2 min
  • Economy
  • Nation
  • Regions
  • Top News

Neda Board okays P23.4-B TPLEX Extension Project

  • Samuel P. Medenilla
  • June 2, 2023
Know more
  • 204
  • 2 min
  • Economy
  • Top News

Factory output on rebound in May

  • Jasper Y. Arcalas
  • June 2, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe

BusinessMirror
  • About Us
  • Contact Us
  • Advertise with us
  • Privacy Policy
  • Cookie Policy
  • Podcast
  • Text-Only Homepage

Input your search keywords and press Enter.