NEW YORK CITY (September 20, 2017) — Today at the UN headquarters, leaders from government, business and civil society will launch P4G, a new global sustainable growth engine to drive inclusive, equitable and sustainable economic growth. The P4G will create a space for innovative partnerships with businesses, national and city leaders, financiers, and community development advocates to develop and deploy powerful solutions in support of the UN Sustainable Development Goals (SDG) and the 2015 Paris Agreement on climate change.
Prime Minister of Denmark Lars Løkke Rasmussen states: “To accelerate progress and deliver concrete results on the SDGs, it is paramount that governments and cities join hands with the private sector through innovative public-private partnerships. Sustainable development is a universal task that requires action from all of us in concert”
Chiles President continues: “Achieving such ambitious goals as outlined in the UN Sustainable Development Goals can only be possible by working together at scale - globally, regionally nationally - and jointly between the public and private sectors”
Countries that have signed on to lead P4G include: Chile, Denmark, Ethiopia, Kenya, Korea, Mexico and Vietnam. Through an inclusive approach, the alliance will engage actively across borders and sectors to create a global economy that works for everyone. Among participants at the launch will also be China, Colombia and Indonesia.
Drawing on lessons learned from past successes, P4G will identify and scale the most effective solutions, inspiring action by an expanding network while ushering in new models of economic development.
The potential is huge: Moving down this pathway could create at least $12 trillion worth of business in a few sector alone, according to the Business and Sustainable Development Commission. It could create 380 million decent jobs by 2030, with almost 90 percent in developing countries. P4G will focus on energy, water, ecosystems restoration, sustainable land use, food systems, sustainable cities and a circular economy.
CEO of Safaricom, Mr. Bob Collymore says: “Delivering on the SDGs will need concerted efforts from all actors of our society. The Global Goals have enormous potential for everyone – for the environment, for growth, for jobs, for business”
national, national and international leaders, including through biennial summits offering inspiration, technical support, and financial assistance to amplify transformative sustainable and green growth ideas. A “State of Art of Green Growth” report coinciding with the P4G Summits will highlight and showcase successful P4G solutions, and at the same time provide the evidence- base to trigger new cross-sector collaboration.
Examples of the types of partnership P4G will aim to support include:
Advisory and facilitation support will be available for partnerships working under the P4G umbrella through the P4G Hub in Washington. Additionally, a fund of $4 million (US) a year will be made available by the Danish Government for financial support to incubate and scale strategies of P4G partnerships. Moreover, P4G partnerships can expect support from a variety of funds collaborating with the P4G on sustainable growth agenda. One such fund is the innovative SDG Investment Fund that will be established January 1, 2018, by the Danish Government to contribute to SDG-related partnerships and ensure up to approximately $5 billion (US) in total investments by working as a public-private cooperation. Others funds such as the Investment Fund for Developing Countries (IFU) have also been identified early on as obvious collaborators.
“It is profoundly encouraging to see this group of leading nations and companies driving forward new economic models that will benefit the economy, citizens and the environment,” said Dr. Andrew Steer, President and CEO of World Resources Institute. “P4G can be a catalyst for dynamic collaborations that will speed, scale and track this progress toward a more inclusive and robust form of global development.”