8 December 2023                                         Workshop in Online format

Background

The best intentions of the global community expressed in the Sustainable Development Goals (“SDGs”) will remain unattained without adequate financial support. The United Nations Conference on Trade and Development (“UNCTAD”) estimates that costs of achieving the SDGs for developed countries from 2023 to 2030 range from $5.4 trillion to $6.4 trillion.[1] When low- and middle-economies included, the total annual needs mount up to between $6.9 trillion and $7.6 trillion.[2]

However, the economic and financial stagnation associated with COVID-19 has derailed the already tepid implementation of the SDGs, even backsliding in key action areas such as climate change, quality education, gender equality, etc. The substantial reduction in ODA budgets in the wake of the pandemic accelerates this destabilizing trend and negatively impacts mostly developing countries, in particular Least Developed Countries (“LDCs”).

In this unfavorable environment, a retrospective analysis faithful to the basics can be a hint for the resolution – 2015 Addis Ababa Action Agenda (“Addis Agenda”). The agenda was introduced during the Third International Conference on Financing for Development in 2015 and an agreement of the international community was reached to forge a global partnership for adequate financing and other innovative means of implementation. Out of seven action areas set out in the agenda, Domestic Resource Mobilization (“DRM”) and Impact Investing have currently taken a central role in international dialogue around development aid.

Given decreased ODA and bigger public debt in the aftermath of the pandemic, developing countries need to explore innovative ways for financing for the implementation of the SDGs. DRM is certainly one of them and it refers to the process through which countries raise, allocate, and spend any source of revenue available to fund government actions, including fees on natural resource extraction, rent, tariffs, and other levies on the trade of goods.[3] In this regard, DRM not only provides developing countries with funds needed to ensure their sustainable development but also a step out of aid dependence.

Impact investing can be values-driven finance, also known as sustainable finance, for developing countries. Impact Investing refers to investment made with the intention of generating positive social and environmental outcomes alongside financial returns[4]. Impact Investments provide a financial return on capital, much like traditional investments, and corporations in developing countries that receive funds through the investment potentially enjoy financial gains depending on their performance. The investment in areas that investors consider to be the most pressing, such as renewable energy (68%), energy efficiency (58%), water (43%), and sustainable agriculture (31%)[5], is also highly likely to serve as a catalyst to economic growth, job creation, infrastructure development, access to capital, long-term stability, and reduced social costs in developing countries, let alone meeting the SDGs and generating revenues for investors.

In this context, UNITAR CIFAL Jeju holds a Workshop on Financing for Sustainable Development from the perspectives of low- and middle-income economies. The Workshop is targeting Asia Pacific countries leaders for their strategic and innovative approach to the utilization of financing methods as introduced in the Addis Agenda. The Workshop aims at better enabling developing countries to explore ways of financing independently to meet the 2030 SDGs indicators and to enhance their competitiveness in cooperation with advanced countries.

Overview

Event Objectives

 This Workshop will:

●       Offer an opportunity to explore financing strategies of Asia Pacific countries in their pursuit of 2030 SDGs in line with Addis Agenda.

●       Contribute to the establishment of a self-reliant funding structure for developing countries.

Learning Objectives

 After this event, participants will be able to:

●       Gain an understanding on domestic financing mechanism through Domestic Resource Mobilization approach.

●       Explore newly emerging Impact Investing methods as a means to expand feasible business opportunities.

Contents and Structure

Training is composed of following sessions:

[Session 1] (Introductory Session) International Conference on Financing for Development: Centered on Addis Agenda

[Session 2] National-Level Approach: Domestic Resource Mobilization

[Session 3] International-Level Approach: Impact Investing

**The sessions are subject to change **

Methodology

Training will be comprised of online lectures and presentations by experts.

Target Audience

This event is open to:

●       Government officials and policymakers, both at the national and local levels in Asia-Pacific countries, who want to explore financing options for national and community-based SDGs strategies.

●       Non-Governmental Organizations (“NGOs”) and corporations in Asia Pacific region interested in aligning their operations with SDGs, as well as business opportunities looking to attract sustainable investment opportunities.

●       Representatives of other sectors from Asia Pacific region who are actively engaging in SDGs and looking to expand their knowledge in financing for sustainable development.

Participants Requirements

 Selected participants are required to:

●       fully attend whole sessions online

●       actively engage in training programs

●       be fluent in written and spoken English

 Certificate

●       A Certificate of Completion will be awarded to only those who have completed all sessions online.

Organizer

UNITAR CIFAL Jeju / Jeju International Training Center http://cifaljeju.org/

Inquiries

Program1

*The above program is subject to change.