Context: For transition to sustainability, the private sector must be involved, in partnership with governments and civil society.
Need of expanding private investment
Huge investment needed to meet the vital 1.5-degree climate target: Critical to save forests and farms, oceans and wildlife and to build necessary new infrastructure to create the transition to sustainability.
Governments alone cannot muster those sorts of sum, so they need to collaborate with private entities.
Private sectors are eagerly waiting to invest in innovative projectsand new technologies: It will facilitate necessary, rapid transition to sustainability and guarantee a cleaner, safer, healthier planet.
Changing consumer behaviour: Committed businesses believe that their customers have right to know what they buy, and sustainability will drive future choices.
Way Forward:Overcome barriers and unlock opportunities for private entities
Clear market signals from government to the businesses is needed to plan for the long term.
It would boost confidence in existing projects and attract the necessary institutional investment for new ones.
To do this, there is a need to re-align country, industry and investment roadmaps.
Multilateral Development Banks have a critical role to play in creating the enabling environment for investment to supports a sustainable future.
Correction in misalignments across institutional, regulatory and legal frameworks: It required a much closer partnership between government, the main multilateral banks, the private sector and its investors.
Explore mechanism for G20 to provide sovereign risk guarantees that would help release the vast sums of money required to make PPP a reality.
Broad global agreementneeds to translate fine words into still finer actions: If world managed to set aside differences, it can be a unique opportunity to launch a substantial green recovery to benefit all.