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ESCAP and the Republic of Korea urge governments to adopt innovative financing measures to advance 2030 Agenda in Asia and the Pacific

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A new report released today by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), in partnership with the Science and Technology Policy Institute (STEPI) of the Republic of Korea, is calling for governments to adopt innovative financing models to advance the Sustainable Development Goals (SDGs) in the region.

While donor and philanthropic funds add up to billions of dollars, the cost of solving the world’s most critical development challenges runs into the trillions, with an estimated annual funding gap of $2.5 trillion to achieve the SDGs by 2030.

“It is imperative to implement innovations that can divert private capital towards development objectives to help bridge the SDG financing gap,” explains United Nations Under-Secretary-General and Executive Secretary of ESCAP Dr. Shamshad Akhtar. “The Innovative Financing for Development in Asia and the Pacific report aims to spark ideas and knowledge sharing to help stimulate further action to develop the innovative financing solutions urgently required for the advancement of the 2030 Agenda,” she added.

“Public policy plays a key role in enabling innovative financing for development by creating a favourable ecosystem where private capital pays more attention on SDGs,” pointed out Dr. Song, Jong Guk, President of STEPI, a leading Korean policy think-tank in the field of science, technology and innovation. “STEPI is very pleased to contribute to this flagship report to highlight the importance of innovative financing for the SDGs,” he added.

Since 2009, the Seoul metropolitan government has been implementing social economy policies to address growing inequalities, high youth unemployment rates and an aging society. These comprehensive policies have been highly successful and there are now 3500 social enterprises operating in the city, with sales volumes reaching 1.29 billion USD.

The success of the programme is based on four pillars: a cooperative governance model that encourages private and public stakeholder participation throughout the whole policy cycle, the localization of the social economy through the creation of social economy zones, fostering an ecosystem for the social economy, and expanding the public procurement of services and products offered by social enterprises to provide them with business opportunities.

The report analyses this and other innovative financing mechanisms in five core areas, namely: strategic leadership models that promote impact investing; policies that unlock corporate investment for development; private sector financing products for development; innovative public financing models for science, technology and innovation; and systemic approaches to finance and innovation as means for development.

It also features a range of other case studies from around the region and offers valuable guidelines for policymakers looking to introduce similar mechanisms. Examples include the India Impact Investment Council, the Thai Social Investment Taskforce, India’s Corporate Social Responsibility Law and Singapore’s Women’s Livelihood Bond, the problem-solving R and D programme of the Republic of Korea and the Social Outcomes Fund in Malaysia.

Key recommendations for governments include developing an impact investing strategic road map to guide the development of an innovative financing movement. The report also underlines the need for governments to provide incentives for the private sector (for example through public procurement or tax incentives) to move from economic-driven investments to impact investments that generate social, environmental and financial returns.

The report is part of ESCAP’s efforts to support its Member States in promoting social enterprises and impact investment.

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Environment

Millions affected as devastating typhoon strikes Viet Nam

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An aerial photograph showing houses destroyed and submerged in flood waters caused by the typhoon in Le Thuy district, Quang Binh province, central Viet Nam. UNICEF/Pham/AFP-Services

A major typhoon has struck central Viet Nam, affecting millions of people – including about 2.5 million children – in a region already reeling from the effects of severe floods, according to UN agencies in the country. 

There are also reports that 174 people have died or are missing. 

Storm Molave, which made landfall at around 11 am local time on Wednesday, is one of the strongest storms to hit the southeast Asian nation in 20 years.

The resulting “extreme rainfall” could continue over the coming days, worsening the already precarious situation faced by many families, the UN Children’s Fund (UNICEF) said in a statement

 “For the affected populations, their homes remain severely damaged, their food stocks have been lost, they have no access to clean water for drinking, washing and cooking; and water and sanitation systems have been damaged,” said the agency. 

Evacuation centres flooded

Thousands have been moved to evacuation centres, which are themselves flooded, resulting in difficult health and hygiene conditions for the displaced people, primarily women, children and elderly. Health centres have also been damaged, leaving without to access basic health care services. 

“Added to this is the trauma of the violent storms and rushing waters, that for a population where many cannot swim, creates fear and impacts mental wellbeing,” UNICEF added. 

The storm has also damaged vital infrastructure, including electricity and roads, leaving many communities cut off from assistance and protection. 

Affected populations 

An estimated 7.7 million people live in the affected areas, including as many as 1.5 million who have been “directly affected”, the Office of the UN Resident Coordinator in Viet Nam said in a humanitarian  update late Wednesday. 

Of these, some 177,000 people considered vulnerable (poor or near-poor), should be prioritized for urgent humanitarian assistance, it added. 

Response 

According to the Resident Coordinator’s Office, UN agencies and partners are developing and will release a multi-sector response plan, within the coming days, to support emergency relief efforts. 

In the immediate term, UNICEF has mobilized to provide emergency water, nutrition, sanitation, education and protection support, it said in the statement. It is also coordinating with Government agencies and humanitarian actors to reach the most vulnerable and those most affected. 

The Vietnamese army has also deployed troops and vehicles for search and rescue missions. 

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Human Rights

Poland ‘slammed the door shut’ on legal and safe abortions

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A group of UN independent human rights experts have denounced a court ruling in Poland that bans abortions on the grounds of fatal or severe foetal impairment, effectively “slamming the door shut” on safe and legal pregnancy terminations.  

In a statement on Tuesday, the rights experts also called on the Polish authorities to safeguard the rights of men and women protesting against the ruling. 

Across the country, thousands have taken to the streets in protest over last Thursday’s ruling by the country’s Constitutional Court. 

According to the experts, with the court verdict, Poland has “effectively slammed the door shut” on legal abortion for women in the country. It is estimated that currently 98 per cent of all legal abortions in the country are performed on the grounds of severe and irreversible impairment of the foetus. 

“Poland has decided to sacrifice women’s human right to safe and legal health services for termination of pregnancy, on account of protection of the right to life of the unborn, in violation of its international human rights obligations,” they said. 

‘Devastating consequences’ for women and girls 

The ruling will have “devastating consequences for women and adolescent girls” in need of such terminations, especially those who are socio-economically disadvantaged and migrant women who are undocumented, who do not have the the means to go abroad for abortion services, they said. 

Before the ruling, Poland had already one of Europe’s most restrictive abortion laws, made even more restrictive in practice with serious barriers and stigma, according to the rights experts.

Termination of pregnancy was permitted in three circumstances only: risk to the life or health of the pregnant woman; severe and irreversible impairment of the foetus; or pregnancy as a result of a prohibited act. 

Decision ‘clearly against’ human rights standards 

The experts highlighted that international human rights mechanisms have clearly recognized women’s right to abortion in cases of fatal foetal impairment and that States have to provide for termination of pregnancy in such cases as the lack of access constitutes, inter alia, a violation of the right to be free from inhuman treatment. 

As a State Party to the International Covenant on Civil and Political Rights (since 1977) and the Convention on the Elimination of All Forms of Discrimination against Women (since 1980), Poland has legal obligation to uphold these international human rights standards, stressed the experts.  

International human rights mechanisms recognize women’s right to access safe and legal abortion as necessary for the protection of women’s dignity and equality and implicit in the right to equality, right to private life, right to be free from inhuman treatment and the right to the highest attainable standards, they said, adding that the decision of the Constitution Court “clearly goes against these standards.” 

“It cannot be justified by invoking the protection of the right to life, as the right to life and all other human rights under international human rights law are accorded to those who have been born,” the experts said. 

“Those who believe that personhood commences at the time of conception have the freedom to act in accordance with their beliefs but not to impose their beliefs on others through the legal system.” 

‘Politicization’ leads to discrimination 

The rights experts also pointed out that the “instrumentalization” and “politicization” of women’s bodies and health leads to discrimination against them, particularly in relation to their right to access health services and the resulting preventable ill health, including maternal mortality and morbidity. 

The experts voicing their concern included the Special Rapporteurs on violence against women; the right to physical and mental health; and cultural rights, as well as the members of the Working Group on discrimination against women and girls

The Special Rapporteurs, Independent Experts, and Working Groups are part of what is known as the Special Procedures of the Human Rights Council. The experts work on a voluntary basis; they are not UN staff and do not receive a salary. They are independent from any government or organization and serve in their individual capacity.   

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Environment

2020 Climate Action Award winners shine ray of hope

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Cycling avenues aim to shift urban infrastructure to sustainable, zero-emission transport. Image: C40 Cities Finance Facility

In a year that has cast darkness upon many, the 2020 UN Global Climate Action Awards, announced on Tuesday, shone a light on the positive action that many across the globe are taking, to combat climate change.

While COVID-19 is the world’s most clear and present danger, climate change is a menace that threatens all future generations, according to the head of the UN climate change convention.

“The last eight months have been a nightmare for many throughout the world”, said UN Framework Convention on Climate Change (UNFCCC) Executive Secretary, Patricia Espinosa, pointing out that the pandemic has “altered lives, economies and the nature of business on every continent—from the largest cities to the smallest villages”. 

And while it is “the most urgent threat facing humanity today”, she quickly added, “we cannot forget that climate change is the biggest threat facing humanity over the long term.”

Building sustainably

The UNFCCC chief attested that the convergence of these two crises has “opened a window of opportunity to build forward – to build cities and communities that are safe, healthy, green and sustainable”. 

“Nothing exemplifies this better than the efforts of our 2020 award-winning activities to address climate change”, she upheld.

This year’s award-winning projects demonstrate leadership on climate change by nations, businesses, investors, cities, regions and civil society as a whole. 

They range from the Caribbean’s only carbon-neutral hotel, to the world’s inaugural green bonds platform and the first all-women solar team in Lebanon.

Secretary-General António Guterres congratulated the winners, saying that they “provide tangible proof that climate action is under way around the world”.

“It is exciting to see these climate solutions, which reinforce my call for decisive leadership on climate change by Governments, businesses and cities, and for a green recovery from the COVID-19 pandemic”, stated the UN chief. “Let us keep pressing ahead to build a more sustainable and equitable future for all”.

Spearheading momentum

As Governments work toward implementing the Paris Climate Change Agreement and the Sustainable Development Goals (SDGs), the awards are part of a wider effort to mobilize climate action and ambition. 

They also set the stage for two upcoming climate change events. The Race To Zero Dialogues, from 9 to19 November, will serve as critical input to the UNFCCC Climate Dialogues to advance work governing the rules of the Paris Agreement, which runs from 23 November to 4 December.

The UN Global Climate Action Awards are spearheaded by the Momentum for Change initiative at UN Climate Change and each project presents an innovative solution that both addresses climate change and helps drive progress on other SDGs. 

“It is crucial we celebrate all actors who are leading the way,” said Gabrielle Ginér, Chair of the Advisory Panel

“The recipients of the UN Global Climate Action Awards send a strong political signal to all nations – and through their leadership and creativity, we see essential change”. The 2020 winning activities, selected by an international Advisory Panel, can be found here

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