“We do not inherit the Earth from our ancestors; we borrow it from our children.” – Native American Proverb
The advent of Sustainable Finance is indeed a ground-breaking enabler in the social and development sector. The new source of innovative finance provides incremental capital for development projects and social entrepreneurs but quantifies social change through measurable impact evaluation. To understand sustainable finance, it’s imperative to understand the evolving sustainable development sector and the role of the chief universal actor within the social ecosystem, the United Nations. UN is the principal driver of sustainable development through specialized agencies, key international organizations, and multilateral development banks. United Nations promotes human rights, peace & security, sustainable development & humanitarian assistance through its specialized agencies. In 2015, the UN formed a framework of a very ambitious, bold, and targeted plan in the form of seventeen sustainable development goals to address pressing problems by 2030. These goals became a guiding beacon and benchmark for international development. Along with SDGs, Addis Ababa Action Agenda and the Paris Agreement on Climate Action became the 2030 Development Agenda. Sustainable Investing is now a global mainstream phenomenon. The Global Sustainable Investment Alliance estimated the market at $30.7 trillion in 2018, an increase of 34 percent over the previous year in five major markets. Today, ESG forms the core of sustainable investing, complemented by impact investing, corporate social responsibility, and a significant social change and impact enabler. Europe accounts for the lion’s share of sustainable investing with assets at $14 trillion, followed by the US at $12 trillion and Japan at $2.2 trillion. The most substantial increase between 2016 and 2018 was Japan, which grew by 300 percent.
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