Mandate of the Global Agenda Council on Sustainable Development:
Catalysing investment for sustainable development where;
- catalysing represents new approaches for innovative public-private cooperation and igniting a chain reaction or response in other stakeholders;
- investment should be applied in the broadest terms to denote both capital and capacity; and
- sustainable implies irreversible, scaled and universal implementation.
Global Agenda Council on Sustainable Development Knowledge Hub
Given the sizable gap in resourcing and overall ambition of the SDG framework, the GAC-SD strongly believes public-private cooperation to be the only way to advance and accelerate progression towards realizing the UN’s ambitious 2030 Agenda. GAC-SD members have therefore committed to collectively create a publicly available Knowledge Hub. This accessible tool will feature articles which provide key lessons in how to shape PPC, giving real world illustrative examples across different sectors and encouraging best practice. An interactive digital community to showcase these is in development, and is scheduled to be launched towards the end of 2016. In the meantime, articles will be released regularly in order to help push the conversation forward. You will find links to these articles to the left, and further information on the Council below.
While the debate on what the new development goals should be is well advanced, the discussion on how these new targets will be achieved has only just begun. With the council’s unique composition of experts from both public and private sectors, it is well placed to advance the discussion around the key enablers of the post-2015 agenda, including financing. Without financing, it is clear that there can be no post-2015 development agenda. Previously, development objectives were funded through aid, which was given by a set of predominantly OECD countries and their civil society organizations to a defined group of, principally poor, developing countries. The post-2015 era is marked by a notable blurring of classifications of north-south, rich-poor, donor-recipient, public-private. Today, of the nearly $2 trillion in capital flowing into developing countries from developed ones, only 7% comes from official development assistance (ODA).
It is clear that ODA, on its own, is incapable of meeting development financing needs, even if the target to provide 0.7% of gross national income were to be achieved by all developed countries. But ODA could, with support, help mobilize substantially more private capital. When it comes to mobilizing development finance for the post-2015 agenda, the question clearly has to be how to extend the reach and effectiveness of ODA through the complementary deployment of philanthropy, impact and other private investment, while simultaneously expanding private investment through the complementary deployment of risk mitigation and concessional finance tools. This is the focus of the joint World Economic Forum and OECD initiative, Redesigning Development Finance.
The council will develop the thought leadership from a focus on the substantive development themes to a pragmatic multistakeholder framework for action. Through a specially crafted composition of the membership, we expect the council to benefit from the perspectives and insights of non-traditional development actors in both business and governments with a stake in development impact.
Forum Lead: Terri Toyota, Head of Foundations Community and Development Finance, Foundations Community, email@example.com