UNDP launches innovative e-Learning Programme on sustainable finance
By United Nations Development Programme 27 September 2023
In response to the increasing global need to support and enhance sustainable finance, the United Nations Development Programme (UNDP) launched a revolutionary e-Learning Programme. This initiative of the Sustainable Finance Hub’s SDG Finance Academy is poised to share UNDP’s vast knowledge of sustainable finance with global practitioners.
The open-access e-Learning Programme will be accessible to anyone with an Internet connection. It begins with ten comprehensive modules, offering a foundational understanding of sustainable finance and advanced explorations in vital areas essential for the Sustainable Development Goals (SDGs).
Marcos Neto, Director of UNDP’s Sustainable Finance Hub, remarked, “Sustainable finance is the cornerstone of our collective aspirations for the SDGs. We are enthusiastic about enabling individuals worldwide to redirect funds effectively towards national SDG targets and craft a sustainable finance blueprint beneficial to all.”
The Academy anticipates the next phase to expand collaboration avenues and streamline support, fostering a worldwide sustainable finance community to bolster development financing’s impact.
A vision transformed into action
The world is still grappling with the economic aftermath of the Covid-19 pandemic. The 2021 UN SDG Report highlighted a concerning surge in poverty – marking the first increase in extreme poverty in decades. Despite the 2030 ‘no poverty’ goal of SDG 1, projections state the global poverty rate may reach 7%.
Moreover, donor governments are unable to amplify Official Development Assistance (ODA) to ensure the achievement of the SDGs due to constraints from their national recovery efforts. In 2021, the ODA remained stagnant at 0.33% of the gross national income, significantly lower than the UN target of 0.7%.
Recognizing these challenges, UNDP’s Strategic Plan 2022-2025 focuses on leveraging public expenditures and private capital to achieve the SDGs. The UNDP’s Sustainable Finance Hub (SFH) initiated the SDG Finance Academy, aiming to disseminate sustainable finance expertise among its vast workforce and national partners. This led to significant outcomes, such as Uruguay’s first-ever SDG-aligned sovereign bond.
The initial ten learning modules of the e-learning programme mirror the Academy’s live training – introducing basic concepts followed by ‘deep dives’ in critical areas for achieving the SDGs. These include budgeting, taxation, thematic bonds and insurance for the SDGs, accessing capital for SDG investment, establishing SDG investment project pipelines, managing impact, designing Integrated National Financing Frameworks, and more.
With the mounting interest from stakeholders in comprehending sustainable finance’s transformative nature, the Academy experienced overwhelming demand that surpassed its capability for in-person training.
On 10 October, an online SDG Integration CoP Conversation on Engaging the Public and Private Sectors for Financing the SDGs will explore the SDG Finance Academy’s work on building capacity for financing SDG targets across the UNDP, governments, the private sector and more.
SOURCE: UN DEVELOPMENT PROGRAMME