Private Finance, Policy Shifts Needed For Sustainable Development
The Guardian: $2.5tn shortfall for sustainable development in developing countries
Paul Hohnen, independent consultant, associate fellow of Chatham House, and participant of the 2014 World Investment Forum
“At the level of international agenda-setting for the rest of the century, 2015 is shaping up to be a big year. Possibly the defining one. That is why this month’s U.N. Conference on Trade and Development (UNCTAD) World Investment Forum was so important, because it addressed the fundamental questions ‘what would it cost to become sustainable?,’ ‘do we have the money?,’ and ‘how can we mobilize it?’… If private finance is to be successfully leveraged for sustainable development, government economic and trade policies need to be more clearly oriented towards sustainability, more internally (and internationally) consistent and integrated, and more transparent. Judging from the conversations at the WIF, the bad news is that we’re still heading, rapidly, in the wrong direction. The good news is that there are more finance and investment experts than ever willing to help in crafting a turn-around” (10/27).