Trade & investment

ICC outlines eight principles to mobilize investment for the SDGs

  • 20 April 2016

The International Chamber of Commerce (ICC) has issued a new statement on policy frameworks needed to drive investment in sustainable development.

With governments convening in New York City this week for the first United Nations (UN) meetings on implementation of the Sustainable Development Goals (SDGs), the International Chamber of Commerce (ICC) has issued a new statement on policy frameworks needed to drive investment in sustainable development.

The United Nations Conference on Trade and Development (UNCTAD) estimates that the annual investment gap in key development sectors for developing nations stands at US$2.5 trillion. The Addis Ababa Action Agenda, which provides a new global framework for financing sustainable development, underscores the importance of mobilizing private sector capital to support implementation of the UN’s 2030 development agenda.

Moving from agreement to action

As the international community now grapples with the task of implementing the SDGs, the new ICC paper stresses the need for governments to maintain and strengthen investment promotion and protection agreements to help realize the vision of driving foreign direct investment in sustainable development.

Eight ICC principles to mobilize investment for the SDGs

If implemented on a global basis, these eight ICC principles can provide an essential foundation for leveraging the investment needed to eradicate poverty, combat climate change and ensure inclusive growth.

In this connection, the paper – prepared by the ICC Commission on Trade and Investment Policy and supported by ICC’s World Trade Agenda initiative – establishes eight policy principles to boost investor confidence and unlock private capital. Specifically, it encourages policymakers to:

Commenting on the launch of the paper, ICC Secretary General John Danilovich said:

“Financing will be a linchpin for the success of the UN’s 2030 sustainable development agenda. Foreign direct investment can play a critical role in fostering economic growth and addressing key environmental challenges.

“If implemented on a global basis, these eight ICC principles can provide an essential foundation for leveraging the investment needed to eradicate poverty, combat climate change and ensure inclusive growth.”

Download the paper Foreign Direct Investment – Promoting and protecting a key pillar for sustainable development and growth

Download the infographic Eight ICC principles to mobilize investment for the SDGs from Flickr.

Follow ICC at the United Nations this week via @iccwbo and #Finance4Dev