Poorer nations face $4 trillion sustainable development investment gap: UNCTAD
A lack of investment in less wealthy nations is a major obstacle to sustainable development, the UN’s trade and development body, UNCTAD, said on Wednesday.
Presenting the latest global trends in foreign direct investment, UNCTAD’s Secretary-General Rebeca Grynspan said that developing countries faced a $4 trillion gap in investments in a number of sectors related to sustainable development, and that investments in the clean energy transition accounted for about half of this gap.
Ms. Grynspan reported that while investment in renewable energy has nearly tripled since the adoption of the Paris Agreement almost eight years ago, “we know that it's going to the developed countries and to the emerging economies”, and poorer states have largely been left out.
She said that more than 30 developing countries have not registered a single international investment in utility-size renewable energy generation since the landmark climate change treaty was adopted in 2015.
The UN official also stressed how much the global South needed two key agreements - the Black Sea Initiative for the exports of grain from Ukraine to global markets and the Memorandum of Understanding signed between the Russian Federation and the UN to foster the exports of Russian food and fertilizers - to “continue bringing prices down” and stabilizing food and fertilizer markets around the world.
Launched in July 2022 in Istanbul, the Black Sea Initiative is up for renewal later this month.
UNCTAD also called for a series of policies and financing mechanisms to be put in place to help developing countries attract investment. Ms. Grynspan said that multilateral development banks can help scale up international investment by partnering with governments and the private sector – a measure that can reduce the spread on borrowing costs for energy investment projects in developing countries by up to 40 per cent.
The UNCTAD chief also insisted that investment played a “huge part” in achieving the Sustainable Development Goals which, she said, were “too big to fail”, calling them “the only game in town” whose success depended on collective action and global solidarity.
-ends-
TRT: 2’12”
SOURCE: UNTV CH
LANGUAGE: ENGLISH, NATS
ASPECT RATIO: 16:9
DATE SHOT: 5 July 2023
FORMAT: HYBRID PRESS BRIEFING
LOCATION: GENEVA, SWITZERLAND
SHOTLIST
1
1
1
Edited News | OHCHR
UN High Commissioner for Human Rights Volker Türk made the following remarks to the Human Rights Council annual panel on adverse impacts of climate change.
1
1
2
Edited News | WHO
The first meagre midweek delivery of urgently needed medical goods to enter Gaza in months will provide scant relief to the enclave’s people, who continue to be shot and killed as they search for food, the UN World Health Organization (WHO) said on Friday.
2
1
2
Statements , Edited News | HRC
Enhanced interactive dialogue on the High Commissioner’s report on Myanmar presented by Volker Türk, UN High Commissioner for Human Rights and oral update by Thomas Andrews, Special Rapporteur on the situation of human rights in Myanmar
1
1
1
Press Conferences | WHO
Alessandra Vellucci, Director of the United Nations Information Service in Geneva, chaired a hybrid press briefing, which was attended by the representatives and spokespersons of the World Health Organisation, the United Nations High Commission for Refugees, the United Nations Conference on Trade and Development, and the World Meteorological Organisation.
1
1
1
Edited News | UNOG
The conflict-impacted people of the eastern Democratic Republic of the Congo (DRC) urgently need much more international assistance than they are getting today, the UN’s top aid official said on Thursday.
1
1
1
Press Conferences | OHCHR
Forms of sex-based violence against women and girls, and the concept of consent in relation to violence against women and girls
1
1
1
Press Conferences | UNCTAD
How AI and the digital economy intersect with labor markets, policy gaps, and global equity – Background briefing ahead of Ai for Good Summit
1
1
2
Edited News | UNOG
Violence in Myanmar is spiralling as the military junta increases its attacks on monasteries, schools and camps sheltering people uprooted by the civil war, a top independent human rights investigator warned on Wednesday.
1
1
1
Press Conferences | OHCHR
Press conference by the Special Rapporteur on the situation of human rights in Myanmar
1
1
1
Edited News | OHCHR
UN Human Rights Spokesperson Thameen Al-Kheetan on Palestinians killed seeking food in Gaza
1
1
1
Press Conferences | OHCHR
Call for Solidarity and Peace: Addressing the Normalization of Violence and Arctic Militarization Risks through Indigenous Peoples’ Examples, Including Insights from the Independent Expert’s Visit to Denmark and Greenland
1
1
1
Press Conferences | ITU , OHCHR , UNCTAD , UNESCO , UNHCR
Alessandra Vellucci, Director of the United Nations Information Service in Geneva, chaired a hybrid press briefing, which was attended by the representatives and spokespersons of the Office of the High Commissioner for Human Rights, the United Nations Refugee Agency, the International Telecommunication Union, and the United Nations Educational, Cultural and Scientific Organization.