Since the adoption of the 2030 Agenda for Sustainable Development, much attention has been devoted to how to finance these ambitious goals. ESCAP recently estimated the annual additional investment required in the developing countries of Asia and the Pacific at US$1.5 trillion per year. In addition to the investment requirements, selecting the appropriate source of funding is critical to meet the SDGs.
Over the past one year, the COVID-19 pandemic has brought an unprecedented socio-economic crisis to the region which required unprecedented policy responses. These policy measures necessarily increase fiscal expenditure, but how to finance them remains an important challenge. One example of policy option is for governments to leverage domestic and foreign private finance, such as by issuing sovereign bonds, including green or sustainable bonds, especially for countries with low to moderate risk of external debt distress like Sri Lanka. In this context, financial institutions and private sector could play a major role to leverage existing financial resources for greener and sustainable economy.
Under this background, the Conference on Sustainable Green Financing in Sri Lanka brings together policymakers, private business and financial sectors, international organization, investors, and other relevant stakeholders in Sri Lanka to discuss pressing issues in promoting green finance for sustainable recovery from the impact of COVID-19 pandemic.
