Mobilizing resources for a Green New Deal: partnerships in Asia for a decade of action in the era of Coronavirus

The objective of this project is to support developing countries in their effort to finance and implement the kind of structural transformation implied by a green new deal.

This was on the agenda already for many countries, but the recent experience of the coronavirus crisis showed the imperative to act more quickly, as the social and economic pain of lockdown helped build consensus on the need for a change to systems of production and consumption that are more equitable and more environmentally sustainable.

Through its case-studies and workshops, the project will aim to help countries identify policies that can support the move to less precarious and more equitable modes of employment, especially for women; to augmenting the scale of long-term development finance available and its guidance to transformative activities; and to strengthening links with transformative industrial policy that will provide demand for the funds made available.

To these ends, the project will bring together the two usually somewhat disconnected topics of public finance and industrial policy, in order to help bring about transformation through a just process of transition. The perspective is on actions that can be achieved over the next decade.

Objective:

To increase national and regional capacities in Asia to formulate and implement policies to finance a Green New Deal and the SDGs in the Era of Coronavirus and Beyond.

Intended outcomes:

At the national level, to help policymakers and leaders from the financial sector and industry enhance their technical capacities to identify and design industrial and public financial sector policies and means of collaboration that can help finance and implement the SDGs, via a green new deal, over the next ten years.
At the regional level, to enhance cooperation between countries and regional financial institutions (in particular development banks), to support the development of regional industrial and public financial sector policies to help finance and implement the SDGs via a green new deal, over the next ten years.

Link to the SDGs:

Coronavirus was like an early warning of what can happen, if we do not achieve a better balance between humanity's economic path and the environment.

This project's focus on a post-Covid rebuilding of the economy in ways that are cleaner, greener and more inclusive relates to all of the SDGs individually, and to the overarching vision.

More narrowly, the project is squarely targeted towards a number of primary targets for the Sustainable Development Goals, including Goal 13: Take urgent action to combat climate change and its impacts; and Goal 17: Strengthen the means of implementation and revitalize the global partnership for sustainable development.

Final Report

A final report, which provides an overview of the project and summarizes the project's main achievements, will be submitted to the DA Team by the end of March 2025 or within 3 months after the project's extended closing date.