GSG signs landmark agreement with UNDP

The Global Steering Group (GSG) for Impact Investment, an independent steering group catalyzing impact investment, has signed an agreement with the United Nations Development Programme (UNDP) to work more closely together in achieving their shared vision to see all investment take impact into account and see more capital and solutions driving achievement of the UN Sustainable Development Goals (SDGs).

The GSG will work in tandem with SDG Impact, a UNDP initiative that accelerates progress towards the SDGs through the adoption of global SDG Assurance Standards that provide guidance on how investors and enterprises contribute to the SDGs. In addition, the initiative has developed new market intelligence, the SDG Investor Maps, that translates country-level data collected by the UN system into investment facing opportunities. The announcement was made at the GSG Summit in Buenos Aires.

The collaboration will include:

• Sharing UNDP SDG Investor Maps to attract additional private capital;
• Encouraging SDG Impact Assurance Standards to be a bridge between principles frameworks already in place and performance reporting and benchmarking;
• Collaboration on events such as investor meetings, dialogues;
• Educating policymakers on impact investment;
• Government level engagement and support for future NABs, with UNDP SDG Impact and UNDP Country Offices;
• Continued G7/G20 level engagement, and development of engagement with other relevant supranational bodies such as the African Union and ASEAN.

UNDP is assuming a key role in aiding the definition and measurement of impact investment while ensuring that claims of SDG contributions can be validated. Moreover, UNDP is looking to the private sector for finance and capital. SDG Impact Assurance Standards are providing guidelines to help investors make more informed decisions about how to confidently allocate capital towards the SDGs.

“Millions of lives have already been improved worldwide through impact ventures delivering social and environmental outcomes alongside financial returns,” said Ulrika Modéer, UNDP Assistant Administrator and Director of the Bureau of External Relations and Advocacy. “Our new partnership with the GSG will help connect key market players, provide needed clarity and tools to catalyse capital investment flows to the Sustainable Development Goals and unlock billions of dollars for the benefit of people and the planet.”

The first set of standards, for private equity funds, has already been published, and SDG assurance standards for bond issuance and for businesses are forthcoming in December 2019 and February 2020. Investors and companies that meet these assurance standards will be able to seek certification and a unique Seal to demonstrate their compliance.

Original source: UNDP
Published on 18 November 2019