G20 Update #22: Will the New G20 Troika Advance "Sustainable Development"?

G20 Update #22: Will the New G20 Troika Advance "Sustainable Development"?

11 March 2015
Heinrich Böll Foundation
Place of Publication: Berlin
Date of Publication: March 2015
Number of Pages: 17
License: CC-BY-NC-ND

In this 22nd issue of the G20/BRICS Update Newsletter we focus on different aspects of global policies related to financing development as defined by the G20, the UN and the World Bank. A critical analysis from the perspective of development coherence is key. The newsletter articles and must reads show from different angles how G20, UN and World Bank have aligned their policy approaches in the 2015 development year. Gigantic investments in Public Private Partnerships (PPP) are considered to be drivers of development and growth. They even became means of implementation to finance the post 2015 development goals, ignoring findings, for example of the Independent Evaluation Group of the World Bank, that there are extensive problems in the implementation and sustainable economic performance of PPPs. Such a policy approach is not only driven by the ambition to boost global economic growth by 2% , but also by the idea to pool immense sources of private finance and create new asset classes for the finance and risk insurance industries. Social and environmental standards, CO2 reduction goals in particular, being key to build confidence in a coherent approach toward the fulfillment of the Universal Sustainable Development Goals in the post 2015 era, fall short.