UN and Scotland to develop SDG project pipeline for private sector

UNDP seeks to make 4,500 SDG-aligned projects investible

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The Scottish Government and the United Nations Development Programme (UNDP), the body that oversees the UN Sustainable Development Goals, have announced a two-year programme to mobilise private capital for the UN Sustainable Development Goals (SDGs).
The announcement was made at the Ethical Finance 2018 Conference ( Oct 22-23) in Edinburgh, organised by Responsible Investor and the UK IFC. The event was attended by around 300 delegates from faith groups, charities, foundations and family offices. The Scottish Government will match £400,000 in funding by UNDP in support of the initiative, which aims to develop innovative financial structures to support the UNDP’s 4,500 SDG-aligned projects to become viable investment propositions.
One of the Ethical Finance 2018 conference keynotes was made by Ivan McKee, MSP, Minister for Trade, Investment and Innovation at the Scottish Parliament (pictured).
UNDP Administrator Achim Steiner said: “Our goal in this partnership is to explore and test new ways of channeling finance to focus on inclusive, nature-based, small and medium enterprises.Inclusive investments target those who have had difficulty gaining access to finance – small farmers, fishers, forestry and eco-tourism enterprises. Nature-based investments achieve triple wins for people, planet and prosperity.”
The conference was also the launch venue for the Edinburgh Declaration, a set of ‘shared values’ for faith investors looking to align how they can work together on ethical finance and potentially launch faith-based investment products that could tap into the some $7trn in assets worldwide that are currently run by faith-based organisations.
The six shared values are: Stewardship; Love of the Neighbour; Human Flourishing; Sustainability & Purposefulness; Justice & Equity; and Common Good.
Justin Welby, the Archbishop of Canterbury, said: “This collaboration is an important example of how different communities can not only talk of, but demonstrate shared values. It is also very encouraging to see the role the faith communities can play in inspiring a more inclusive, ethical and responsible financial system.”