REVIEW OF DAY 1

#financeforSDGs

Day 1 in paradise

“Social development within MDGs has been very successful but climate change, pollution and environmental destruction are a big threat “ “Do not have luxury to make mistakes-look at ‘elephants-eg vested interests’”.

“We need new financial instruments that can tackle ecological health upon which human health depends”

“Mobilising projects is a more important priority than mobilising finance. New online tool from SIF”

“The challenges for SDG climate change and environment are most acute in developing countries where the outcome will be won or lost in cities-jobs, health,skills”

“The key challenge on the finance side is the attracting private finance and therefore key role for PPP in investing in the real economy”

URGENCY AND CITY REGIONS AND INCLUSION

CAPACITY BUILDING

‘’With a likely 2.8bn living in slums there is a fierce challenge in building inclusive action with regulation/targets on climate change and environmental impact in cities”

“We need to find ways to mobilise a diverse range of private sector resources that can be accessed inclusively locally, linked to employment creation and entrepreneurism”

“Investment in cities is around 30% from local government”

“Local governments need higher proportion of national budgets to support SDG delivery for benefit of whole country”

“Land value capture is a key mechanism and needs legislation and instruments for urban management”

“We need to be able to quantify the resilience dividend”

CREDIT RATINGS, BANKING. PEER to PEER ‘’Some sovereign guarantees may be necessary to raise city bonds”

“Independent cash raising in cities is critical. Credit rating of cities will be improved if they have higher share of national budgets”

“Alignment of bank lending to SDG outcomes is beginning. Central Bank regulation around climate risks is another tool”

“Policy makers need to steer the market, which is too slow on green bonds”

“Peer to peer lending, crowd funding and microfinance may all play a key role”

SYSTEMS, COMPUTING CAPACITY, DATA ‘’We can integrate sciences to get a holistic view. We have and will have the computing power to support the massive task”

“Integrated earth systems modelling can be used to assess regional, local risks”

“Catastrophic risk modelling can access and use the same data used for urban management and project design”

“Need data for ESG disclosure and systems modelling to unravel complexity and understand interdependencies locally”

Thank you