12/01/2021 | Press release | Distributed by Public on 12/01/2021 10:33
Press release, 01.12.2021
The State Secretariat for Economic Affairs, UBS Optimus Foundation, Credit Suisse Foundation and the Swiss Agency for Development and Cooperation (SDC) launched the Sustainable Development Goals Impact Finance Initiative on 1 December. The initiative aims to mobilize up to one billion Swiss francs in private capital to advance measurable impact in developing countries. SECO supports the initiative with 19.5 million Swiss francs.
The funding gap to meet the U.N. Sustainable Development Goals (SDGs) by 2030 is estimated at more than USD 2.5 trillion per year. Increasing private sector investment in developing countries will be essential to bridge this funding gap. Using public and philanthropic funds to mobilize private investments is one effective way to attract the financial resources that would otherwise not be channelled into developing countries. The SDG Impact Finance Initiative aims to raise 100 million francs in funding by 2030 from public and philanthropic actors. These funds will be used to unlock up to 1 billion francs in additional private capital towards the SDGs in developing countries.
The initiative has three objectives:
The initiative will select the best solutions through competitive, international calls for proposals. The first call for proposals will be launched in early 2022 in collaboration with the organization Convergence.
Leveraging the Swiss ecosystem for the SDGs
SECO and its partners invite other philanthropic and public organizations to join the initiative. Switzerland is a leading financial centre, including for impact investing, and is home to a high number of international organizations, foundations, and non-governmental organizations. The SDG Impact Finance Initiative will make use of this ecosystem and incentivize collaboration between the impact finance sector, the development community and international partners.
Statements on the SDG Impact Finance Initiative
"It is all about collaboration and joining forces between public, private and philanthropic actors to mobilize more finance for the SDGs in developing countries. The 19.5 million Swiss francs approved by President Guy Parmelin underscore SECO's commitment."
State Secretary Marie-Gabrielle Ineichen-Fleisch, SECO Director
"It is critical to mobilize capital in all forms to tackle some of the world's most pressing challenges. As a founding member of this important initiative, UBS Optimus Foundation is pleased to contribute 5 million Swiss francs plus its long-standing expertise in innovative impact investing and public-private partnerships to create measurable, sustainable change on a global scale."
Ralph Hamers, UBS Group CEO
"Credit Suisse sees philanthropic capital playing an important role in unlocking the innovation and collaboration needed to overcome the significant funding gap to meet the Sustainable Development Goals, particularly for SDGs and countries that have historically been more challenging to finance. I am delighted that our Foundation could play a pivotal role in supporting this initiative from its inception."
Thomas Gottstein, CEO Credit Suisse Group
"Partnering with the SDG Impact Finance Initiative is consistent with SDC's strategic objective to reinforce its co-operation with the private sector in pursuit of sustainable development. Private impact investment is a key instrument, for example, to help reduce poverty, empower women or address climate change, also in difficult contexts."
Ambassador Thomas Gass, Assistant Director General and Head of the South Cooperation Department, Swiss Agency for Development and Cooperation
"The SDG Impact Finance Initiative provides targeted support for innovative investment solutions that aim for positive impact on the environment and society. It thereby helps to strengthen Switzerland's position as a leading hub for impact investments."
Sabine Döbeli, CEO of Swiss Sustainable Finance.
SECO: Lorenz Jakob, Information Officer, Economic Cooperation and Development, [email protected]; +41 58 468 60 56
UBS: Thomas Atkins, Media Relations, [email protected], +41 44 235 15 93
Credit Suisse: Yanik Schubiger, Media Relations, [email protected], +41 44 332 16 87
SDC: FDFA Communication, Federal Palace West Wing, CH-3003 Bern, Switzerland
Tel. Communication service: +41 58 462 31 53; Tel. Press service: +41 58 460 55 55
E-mail: [email protected] - Twitter: @SwissMFA