Finance is crucial to promote and sustain the transition to more sustainable business models, investments, environmental and social projects and policies at regional level.
But to understand what actions are needed the most to push in this specific direction, we need to get a pulse of the current situation, we have to understand what is encouraging or blocking the sustainable investment flow and how to overcome the challenges that both investors and investees are facing.
The work and efforts of supporting an impact-driven portfolio such as the one created by SwitchMed is the specific space where the programme, leveraging on the ecosystem approach promoted by the creation of Switchers Support National Partnerships has the opportunity to strengthen the transition to a green economy in the Region.
In order for sustainable finance to become mainstream, a collaborative effort is required to create a suitable enabling environment. Furthermore, innovative finance mechanisms and paths need to be imagined, designed and tested to bridge the demand and supply of financial capital for sustainable business while finding ways to measure social and environmental impact information and use it to inform decision-making.
Indeed, collaboration is needed to overcome all these challenges ant this is why the Regional Activity Centre for Sustainable Consumption and Production (SCP/RAC) has promoted the creation of National Impact Investing Task Forces with the aim of enabling the adoption of Sustainable Investing solutions at national and regional levels.
Two National Impact Investing Task Forces, the one from Tunisia and the one from Lebanon, are the firsts in launching their activities with a combination of one to one meetings and specific workshops to support, reach and promote the adoption of sustainable finance investments.
The National Impact Investing Task Forces in Lebanon and Tunisia will:
– Stimulate local discussions between potential investors, private and public finance institutions, donors and other relevant stakeholders about the needs and opportunities to advocate for and promote the adoption of sustainable finance solutions on benefit of a more resilient business ecosystem.
– Stimulate and promote the adoption of investing for impacts initiatives;
– Facilitate the alignment between finance offer and finance demand;
– Cooperate to integrate sustainable finance principles at ecosystem level;
The National Impact Task Forces will then have the ambition to define, by the end of their mandates that covers one year activities, a vision on how financial institutions could enable the transition and contribute to the sustainable development of the local and regional economies.
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