By Tim Hirschel-Burns and Rishikesh Ram Bhandary A $4 trillion financing gap to achieve the United Nations Sustainable Development Goals (SDGs), 85 percent of which are off track. A need to rapidly scale up climate action and energy access. Weak global growth. Instability-fueled migration. A reversal in a decades-long trend of reducing global poverty. The […]
By Tim Hirschel-Burns The 29th United Nations Climate Change Conference (COP29), taking place from November 11-29, 2024 in Baku, Azerbaijan, has been dubbed the “Finance COP” and is expected to deliver a new climate finance goal, known in COP jargon as the New Collective Quantified Goal (NCQG). This NCQG will succeed the climate finance goal […]
By Maureen Heydt The global community is running out of time and falling behind on financing shared climate and development goals, with the United Nations warning that 85 percent of the 2030 Sustainable Development Goals (SDGs) are either off track, stagnant or regressing. Likewise, efforts to limit a global temperature increase to 1.5C consistent with […]
The global community is running out of time and falling behind on financing shared climate and development goals, with the United Nations warning that 85 percent of the 2030 Sustainable Development Goals (SDGs) are either off track, stagnant or regressing. The economic and social costs of inaction will be catastrophic. Multilateral development banks (MDBs) […]
At the upcoming 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan in November, parties are expected to agree on a New Collective Quantified Goal (NCQG) to replace the $100 billion climate finance goal set in 2009. The $100 billion – in addition to being met two years late – left open significant questions […]
By Gregory T. Chin When much of the world shut-down at the height of the COVID-19 pandemic, in late 2021, the New Development Bank (NDB) welcomed four nations into its membership, Bangladesh, the United Arab Emirates, Uruguay and Egypt. These additions, with Uruguay pending, were the first new members since the creation of the Bank […]
In July 2015, the New Development Bank (NDB), formerly the BRICS Development Bank, was established by the BRICS states (Brazil, Russia, India, China and South Africa). Since then, the NDB has built an impressive record of milestones, each one laying the groundwork for careful institutional building. Nearly a decade since the founding of the […]
By Marina Zucker-Marques Investing in development and climate while maintaining economic and financial stability is a balance that emerging market and developing economies (EMDEs) need to strike in order to meet the United Nations 2030 Agenda for Sustainable Development and the Paris Agreement. EMDEs (excluding China) need a major investment push to achieve the 2030 […]
Time is running out to achieve the goals set out in the United Nations 2030 Agenda for Sustainable Development and the Paris Agreement. Not meeting these goals will have tragic impacts on the lives of present and future generations; yet, emerging market and developing economies (EMDEs) are facing conditions that inhibit their ability to mobilize […]
By Ying Qian Many developing countries continue to suffer from the impacts of debt distress that were exacerbated during the COVID-19 pandemic years. It is estimated that 61 emerging markets and developing economies (EMDEs) are in or at high risk of debt distress, and that more than $812 billion in debt needs to be restructured […]