P4G initiative launches to accelerate sustainable growth through innovative partnerships

Leaders from government, business and civil society today at the UN headquarters 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 Michelle Bachelet 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.”

Incubate new and scale existing partnerships

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. Within the coming months each partner country will select 2-3 specific challenges in the partner country or in other partner countries with the purpose to form at least one partnership idea possibly involving stakeholders, businesses and relevant authorities from partner countries. The end goal being for P4G to incubate new and scale promising existing partnerships with the guidance and support of the P4G Hub to be established by 1st January 2018.

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 in 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.

First P4G high-level summit in Copenhagen

To scale partnerships and raise political attention, partner countries will take turns in hosting summits every second year. The first P4G high-level summit will take place in Copenhagen on 28-29 November 2018 hosted by the Danish government while all partner countries will in turn host the summit every second year.

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.”

The P4G will focus on key economic systems that, if transformed, will drive green inclusive and equitable growth. Key economic systems have been identified where opportunities and impacts are greatest such as land-use/agriculture, energy, cities, manufacturing, water and circular economy. Commitments to develop market conditions combined with innovation and new business models will drive the green transition and have a positive impact on the environment.

Source: State of Green & The Prime Minister’s Office