By Adam Fishman
From the article:
Building on the previous edition of the SDG Knowledge Weekly, which focused on the recent annual meetings of the World Bank and IMF, this week continues the discussion on financing sustainable development, bringing in private actors that are embracing new practices to support SDG implementation. We also highlight recent events that highlight how businesses can take action.
The Center for Global Development (CGD) published a brief titled, ‘Rising to the SDG Challenge: The unique contribution of the International Development Finance Club’ (IDFC). Noting “significant misalignment between the structure of” multilateral development banks (MDBs) and the SDGs’ financing needs, the paper argues that institutions with stronger country-level ties to non-sovereign actors are better-suited to facilitate progress on the SDGs. It highlights that the IDFC, with an aggregate US$3.7 trillion in assets, is “uniquely positioned” to play a leadership role in this regard, especially given that the Club’s 22 member institutions are located or primarily operate in developing economies. The paper emphasizes elements of a broader SDG agenda for IDFC members, including collaborative annual reporting, open dialogue on standard setting, project collaboration and learning from investments in fragile settings, among others.
The International Finance Corporation (IFC) developed nine draft Operating Principles for Impact Management. The principles focus on elements of: strategic intent, origination and structuring of investments, portfolio management, impact at exit and independent verification. IFC notes that the principles are not intended to be prescriptive, but rather, serve as a reference point for investors in the design and implementation of their own impact management systems, tools or approaches. A write-up of the release is available on Devex.
Read the full article here.