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Humanitarian Investing to Provide Impact Financing to Address Crises

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The World Economic Forum, in partnership with the co-chairs of the Humanitarian Investing Initiative, the International Committee of the Red Cross (ICRC) and the World Bank Group, announces today the release of a new white paper entitled, Humanitarian Investing – Mobilizing Capital to Overcome Fragility.

The paper outlines the role and initial landscape of humanitarian investing, which provides financing to address crises and fragility while seeking a return on that investment. By harnessing the growing pool of investment capital looking for a double bottom line, humanitarian investing also focuses on situations of conflict and fragility that are causing increasing flows of migrants and refugees.

There is a clear need to rethink humanitarian assistance. About 2 billion people live in countries that are affected by fragility, conflict and violence and, according to OECD predictions, by 2030, more than 80% of the world’s poorest people will live in such conditions. Climate change could bring internal displacement figures to 140 million by 2050, according to the United Nations Office for the Coordination of Humanitarian Affairs.

While the number of internationally led responses to crises doubled between 2005 and 2017, the current environment faces increasing pressures and there is a lack of investment opportunities for investors who are looking to drive impact.

At the same time, there has been increased focus among investors seeking more purpose-oriented investment options and an emerging opportunity to bring together a new mix of partners to design long-term solutions.

Humanitarian investing acts as a market to match impact-driven investment capital to opportunities that enhance resilience, mitigate crises or promote stability and recovery. The paper explores how this inclusive, sustainable financing model complements traditional humanitarian assistance, leverages development financing instruments and broadens the potential to use investment opportunities to tackle long-term challenges.

“We are challenging humanitarian and development communities, as well as investors and business leaders, to rethink their role in providing support and financial assistance to those most affected by fragility and crises,” said Borge Brende, President, World Economic Forum. “Humanitarian investing can unlock new capital and identify investable opportunities to support vulnerable communities.”

Humanitarian investing applies capital to investable opportunities that:

  • Directly impact and empower people exposed to fragility, conflict and violence and the ecosystems around them
  • Address the needs of the fragility-crisis cycle, from resilience to response to recovery
  • Are structured to take advantage of differences in mandates, return objectives, risk tolerances and investment horizons
  • Bring together public and private partners, expertise and capabilities
  • Create collaboration guided by humanitarian principles of neutrality, independence and impartiality
  • Help to transform the efficiency of the humanitarian system
  • Measure and report on human impacts and financial performance

Humanitarian investing helps those most affected by fragile situations and crises by responding to their needs, ensuring their dignity and agency, addressing inefficiencies in aid and aid delivery systems, overcoming restrictions on the nature of aid given, and advocating for high-need communities.

“We must build on the current momentum toward addressing fragility, protracted crises and forced displacement and develop new financial tools for people,” said Peter Maurer, President, International Committee of the Red Cross. “I see a real opportunity to bring development, humanitarians, investors and business communities together to build inclusive, sustainable markets and harness capital to deliver impact, and help those in greatest need.”

In the months ahead, the initiative plans to develop a collaboration platform, to continue working with key stakeholders to promote organizational readiness, and to form dedicated industry and regional tracks that will engage stakeholders to co-develop investable opportunities as proofs of concept that will enable future deal pipelines.

The Humanitarian Investing Initiative brings together key humanitarian and development actors and representatives from the investor and corporate communities. The members of the initiative are the International Committee of the Red Cross, World Economic Forum; World Bank; World Food Programme; United Nations High Commissioner for Refugees; Capricorn Investment Group; IFC; Gulf International Bank; Novo Nordisk Foundation; Impact Advisory and Finance; Credit Suisse; US Agency for International Development; United Nations Office for the Coordination of Humanitarian Affairs; Humanitarian Aid and Civil Protection, European Commission; the Conduit; and IKEA Foundation.

The Sustainable Development Impact Summit takes place 23-24 September in New York. This year’s meeting will convene more than 800 regional and global leaders from government, business, civil society and academia. The meeting will explore four themes: transforming markets; accelerating climate action; financing sustainable development; and mobilizing action for inclusive societies.

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ADB Program to Help Improve Education and Health in Armenia

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The Asian Development Bank (ADB) has approved a $10 million policy-based loan (in euro equivalent) to assist the Government of Armenia’s efforts to improve the quality and accessibility of education and health services.

Armenia is experiencing a demographic shift with the share of children under the age of 18 declining from 37% of the national population in 1990 to 25% now, signaling an impending decline of the country’s labor force. Access to and funding for quality education and health services are poor, resulting in many people not having the skills to meet employers’ needs and avoidable ill health having a detrimental effect on the population.

In 2017, for instance, public expenditure on education was about 2.2% of gross domestic product (GDP), which is lower than the 5% recommended by the Organisation for Economic Co-operation and Development. Government health spending was at 1.3% of GDP, below the 5% threshold observed by the World Health Organization as expenditure of countries with low shares of out-of-pocket payments.

To address this, the Government of Armenia has implemented reforms since 2010 to improve education and health services, with a focus on helping women and girls. A preschool law was endorsed to the National Assembly with the aim of boosting the number of children in elementary schools to 70% in 2023, from around 30% in 2017. Teachers have also been receiving training and skills development. A new set of guidelines and protocols, meanwhile, have been implemented in most of the country’s hospitals and health centers, covering topics ranging from preventing hospital-acquired infections to methods in continuing medical education.

“A well-educated and healthy population is essential for the growth and development of a country like Armenia, where human capital is significantly unrealized,” said ADB Senior Health Specialist for Central and West Asia Ms. Rouselle Lavado. “ADB’s assistance will support the government’s ongoing efforts to ensure that citizens are educated, healthy, and productive.

The main focus of the Human Development Enhancement Program is children and youth, starting from the preschool age. As well as improving the accessibility and enhancing the quality of education and health services in the country, the program will also increase financing for these efforts.

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Human Rights

ICC gives greenlight for probe into violent crimes against Rohingya

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Judges of the International Criminal Court (ICC) on Thursday authorized an investigation into alleged crimes against humanity, namely deportation, which have forced between 600,000 and one million Rohingya refugees out of Myanmar, into neighboring Bangladesh since 2016.  

The pre-trial judges “accepted that there exists a reasonable basis to believe widespread and/or systematic acts of violence may have been committed that could qualify as crimes against humanity of deportation across the Myanmar-Bangladesh border” the Court said in a press statement, in addition to “persecution on grounds of ethnicity and/or religion against the Rohingya population.” 

After a reported military-led crackdown, widespread killings, rape and village burnings, nearly three-quarters of a million Rohingya fled Myanmar’s Rakhine state in August 2017 to settle in crowded refugee camps in neighboring Bangladesh. 

This is the second strike against the alleged crimes this week, as the tribunal’s decision follows a Monday submission by Gambia to the UN’s principal judicial organ, the International Court of Justice (ICJ), accusing Myanmar of “mass murder, rape, and genocidal acts” which violate its obligations under the Genocide Convention, in addition to destruction of villages, arbitrary detention, and torture.  

As a member to the Genocide prevention treaty, Gambia “refused to stay silent”, and as a member of the Organisation of Islamic Cooperation (OIC), the small African nation has taken legal action to assist the persecuted majority-Muslim Rohingya, with support by other Muslim countries.  

In July, the ICC’s top Prosecutor, Fatou Bensouda, requested an investigation be open into the alleged crimes committed since October of 2016, concerning Myanmar and Bangladesh.  

At that time, her Office’s preliminary examination found “a reasonable basis” to believe that at least 700,00 Rohingya were deported from Myanmar to Bangladesh “through a range of coercive acts causing suffering and serious injury.” 

Under the Rome Statute that created the ICC, which highlights crimes against humanity as one of its four crucial international crimes, the top Prosecutor concluded sufficient legal conditions had been met to open an investigation.  

While Myanmar is not a State party to the treaty, Bangladesh ratified the Statute in 2010, meaning authorization to investigate does not extend to all crimes potentially committed in Myanmar, but will focus on violations committed in part on Bangladeshi territory, the ICC said in July.  

‘Only justice and accountability’ can stop the violence 

Judges forming the pre-trial chamber, Judge Olga Herrera Carbuccia, Judge Robert Fremr, and Judge Geofreey Henderson received views on this request by or on behalf of hundreds of thousands of alleged victims.  

According to the ICC Registry, victims insist they want an investigation by the Court, and many “believe that only justice and accountability can ensure that the perceived circle of violence and abuse comes to an end.” 

“Noting the scale of the alleged crimes and the number of victims allegedly involved, the Chamber considered that the situation clearly reaches the gravity threshold,” the Court said.    

The pre-trial Chamber in addition authorized the commencement of the investigation in relation to any crime, including future crime, so long as it is within the jurisdiction of the Court, and is allegedly committed at least in part in the Rome Statute State Party, Bangladesh, or any other territory accepting the jurisdiction.  

The alleged crime must also be sufficiently linked to the present situation, and must have been committed on or after the date of the Statute’s entry into force for Bangladesh or the relevant State Party.  

Judges from the ICC have given the greenlight for prosecutors to commence collection of necessary evidence, which could result in the judge’s issuance of summonses to appear in court or warrants of arrest. Parties to the Statute have a legal obligation to cooperate fully with the ICC, nonmembers invited to cooperate may decide to do so voluntarily. 

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Environment

Hyatt Launches Three Global Initiatives to Significantly Reduce Single-Use Plastics

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Hyatt Hotels Corporation is announcing a series of initiatives to reduce waste at Hyatt hotels globally, including introducing large-format bathroom amenities and reducing single-use water bottles by June 2021. The following initiatives will be introduced as soon as possible in properties around the world, and no later than June 2021:

Transitioning to large-format bathroom amenities to replace traditional small bottles of shower gel, shampoo, conditioner and lotion.

Increasing the number of water stations in key public spaces at hotels for guests who wish to refill reusable water bottles.

Serving water in carafes or other containers for meetings and events; bottled water will be available by request.

“At Hyatt, our purpose – we care for people so they can be their best – guides all business decisions, including our global sustainability framework, which focuses on using resources responsibly and helping address today’s most pressing environmental issues,” said Mark Hoplamazian, president and CEO, Hyatt. “Plastic pollution is a global issue, and we hope our efforts will motivate guests, customers and, indeed, ourselves to think more critically about our use of plastic.” 

These new initiatives represent a significant step in Hyatt’s global sustainability program and underscore Hyatt’s commitment to wellbeing. As promoted in Hyatt’s landmarks of wellbeing – Feel, Fuel and Function – proper hydration is essential to living well. Offering increased access to water stations across Hyatt hotels around the world will ensure guests will have hydration choices that align with both their wellbeing and sustainability priorities while traveling.  

Transitioning to large-format bathroom amenities and reducing single-use water bottles builds on Hyatt’s broader commitment to reduce disposables and select environmentally preferable options whenever possible, with the exception of when single-use bottles are needed for water quality reasons.

Other recent global initiatives have included removing plastic straws and drink picks and making alternative options available only by request at Hyatt hotels, and increasing the use of compostable, recyclable, or recycled content packaging for to-go food containers.

While these global efforts ensure guests – both leisure and business – will consistently have the option to avoid single-use water bottles while staying at Hyatt hotels, many properties have already been introducing additional efforts to create best-in-class solutions. Examples include:

In-house water bottling plants that reuse glass bottles and replace single-use bottles. Hotels with this solution currently include Alila Villas Koh Russey, Alila Manggis, Alila Ubud, Alila Villas Uluwatu, Alila Bangsar, Alila Jabal Akhdar, Hyatt Regency Addis Ababa, Hyatt Regency Delhi, Andaz Costa Rica Resort at Peninsula Papagayo and Park Hyatt Maldives Hadahaa.

Reusable bottles distributed to all guests at check-in at resorts such as Hyatt Regency Maui Resort and Spa, Andaz Maui at Wailea Resort, Grand Hyatt Kauai Resort & Spa, Hyatt Ziva Cancun, Miraval Arizona and Miraval Austin.

Filtered water spouts installed in all guest rooms at Park Hyatt Istanbul – Macka Palas to provide fresh drinking water.

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