Achieving the Sustainable Development Goals through Finance, Technology and Law Reform Achieving the SDGs requires a fundamental rethink from businesses and governments across the globe. To make the ambitious goals a reality, trillions of dollars need to be harnessed to mobilise finance and accelerate progress towards the SDGs. Bringing together leaders from the World Bank, the financial and business sectors, the startup community and academia, this important, topically relevant volume explains what the SDGs are, how they came about and how they can be accelerated. Real-world case…mehr
Achieving the Sustainable Development Goals through Finance, Technology and Law Reform
Achieving the SDGs requires a fundamental rethink from businesses and governments across the globe. To make the ambitious goals a reality, trillions of dollars need to be harnessed to mobilise finance and accelerate progress towards the SDGs.
Bringing together leaders from the World Bank, the financial and business sectors, the startup community and academia, this important, topically relevant volume explains what the SDGs are, how they came about and how they can be accelerated. Real-world case studies and authoritative insights address how to direct investment of existing financial resources and re-align the global financial system to reflect the SDGs.
In depth chapters discuss how financial institutions, such as UBS Wealth Management, Manulife Asset Management and Moody's Rating Agency are supporting the SDGs. The opportunities arising from Blockchain, Big Data, Digital Identity and cutting-edge FinTech and RegTech applications are explored, whilst the relevance of sustainable and transparent global supply chains is underscored. Significant attention is paid to law reform which can accelerate progress of the SDGs through SME Financing, Crowdfunding, Peer-to-Peer Lending and tax restructuring.
To achieve the 'World We Want', much needs to be done. The recommendations contained within this book are critical for supporting a fundamental shift in thinking from business and governments around the world, and for building a more just and prosperous future for all.
JULIA WALKER is a senior global business executive with 20 years experience in the private sector principally in finance, technology, and risk management. She currently runs market growth and strategy in Asia for one of the world's largest providers of financial markets data, Infrastructure, and Risk Intelligence and is a member of the United Nations Secretary General's Task Force of Digital Financing of the Sustainable Development Goals. DR ALMA PEKMEZOVIC is a consultant to the Asian Development Bank, Sydney, Australia. Her key areas of expertise include capital markets law, corporate law and governance, and commercial law reform. During 2006 to 2015, Dr. Pekmezovic taught corporate and commercial law at La Trobe University School of Law, Melbourne, Australia. She was formerly a Lecturer in Law at Bucerius Law School in Hamburg (2015-2018) and a Visiting Research Fellow at the Max Planck Institute for Comparative and International Private Law in Hamburg, Germany. DR GORDON WALKER SJD (Duke) is an Emeritus Professor of La Trobe University; Adjunct Professor at Curtin University School of Law; Visiting Professor, University of Padua Law School, Italy; and an advisor to the Asian Development Bank (ADB) designated as International Business Law Expert and International Financial Sector Expert. His research contracts at the ADB principally involve law reform in the areas of securities regulation, company, secured transactions and FinTech within the Private Sector Development Initiative (PSDI-III) in the South Pacific.
Inhaltsangabe
About the Editors xvii
Notes on Contributors xix
Foreword xxix
Foreword: Implementation of the SDGs xxxi
Preface xxxv
Introduction 1
Part One: Overview and Context 9
Part Two: Where Will the Money Come From? Financing the SDGs 10
Part Three: Technology, Innovation, and Entrepreneurship 12
Part Four: Facilitating the SDGs by Legal Infrastructure Reform 15
Part I Overview and Context 17
1 The UN and Goal Setting: From the MDGs to the SDGs 19 Alma Pekmezovic
Introduction 19
What is Development? 20
Is There a Right to Development? 22
Measuring Economic Development 22
Measuring Non-Economic Aspects of Development 23
The Sustainable Development Goals (SDGs) 24
Situating the SDGs in the International Legal Framework 28
Theories of Development: Towards a New Theory of Sustainable Development 29
Economic Theories of Development 30
Cultural Theories of Development 30
Geographic Theories of Development 31
Institutional Theories of Development 32
A New Theory of Sustainable Development 34
Measuring Progress Towards the SDGs 34
Conclusions 35
2 SDGs and the Role of International Financial Institutions 37 Suresh Nanwani
Introduction 37
Response and Implementation of the SDGs by IFIs 38
Project Processing and Actions Taken by IFIs to Implement the SDGs, and Responses from Other Development Actors 44
Conclusion and Recommendations for IFIs to Meet SDG Goals and Targets 48
3 Towards a New Global Narrative for the Sustainable Development Goals 53 Iason Gabriel and Varun Gauri
Introduction 53
How SMART Are the SDGs? 55
Goals That Stretch 59
Goals That Inspire 62
Sloganising the SDGs 64
Towards a New Global Narrative? 66
Conclusion 69
4 Overcoming Scarcity: The Paradox of Abundance: Harnessing Digitalisation in Financing Sustainable Development 71 Simon Zadek
Scarcity: The Paradox of Abundance 71
Financing: A Systemic Challenge 72
Action on System Design 74
Digital Financing of the SDGs 76
Dilemmas: Digitalisation and Dark Financing 80
Sizing the Prize 82
What Next? 84
Concluding Comments 85
Part II Where Will the Money Come From? Financing the SDGs 87
5 The New Framework for Financing the 2030 Agenda for Sustainable Development and the SDGs 89 Alma Pekmezovic
Introduction 89
Sources of Development Finance 90
Domestic Public and Private Sources 90
Domestic Resource Mobilisation (DRM) 90
International Public and Private Finance 93
The Role of International Official Development Assistance (ODA) 94
Private Philanthropy 95
Sovereign Wealth Funds, Pension Funds, Insurance Companies, and Investment Funds 96
Barriers to Greater Private Investment 97
The Role of Private and Blended Finance in Development 98
The Development Impact and Risks of Blended Finance 100
An Overview of Blended Finance Mechanisms 101
Innovative Financing Tools: Social Impact Bonds (SIBs) and Development Impact Bonds (DIBs) 102
Best Practices for Engaging the Private Sector 105
Conclusions 105
6 The Contribution of the International Private Sector to a More Sustainable Future 107 Martin Blessing and Tom Naratil