UNDP could expand sustainable partnerships

The United Nations Development Programme (UNDP) could expand its sustainable business partnerships that connect private CSR funds with government development needs, said Isabelle Tschan, UNDP’s Deputy Resident Representative in India. Tschan pointed to the Akanksha CSR Facilitation platform, which was set up in collaboration with the government of Karnataka and helps match private funds to the state government’s Sustainable Development Goals (SDG) priorities. The Akanksha platform was launched in May 2021 and offers a number of SDG-linked programmes that are available to CSR donors, who are guided through AI match-analysis. The programme has managed to funnel over $50 million towards SDG priorities, according to the UNDP’s figures.

Tschan said that the model could be replicated and expanded to a number of other state governments.

The UNDP has pushed to raise funds for the SDGs given the rollback in progress in numerous developing countries as a result of shocks caused by covid-19 and the Ukraine war. UN Secretary-General Antonio Guterres recently called for $500 billion in additional financing for developing countries to help them cope with the economic impact of these crises.

To meet this massive financing requirement, the UNDP has called for support from “a complex blend of public and private sources.” However, this plan faces serious challenges.

“Let us be clear that many governments in the so-called developed world are struggling with their own public expenditure challenges with the debt that they have accumulated during covid. That is also creating increasing political stress. So, we see a reality where many of the wealthier nations capable of stepping in to help developing countries have seen cutbacks in development assistance,” acknowledged Achim Steiner, the UNDP’s Administrator, in an exclusive interview with Mint in July. The annual financing gap for SDGs for developing countries is estimated to stand at $4.2 trillion.

“Further, India is the first country in the world to make corporate social responsibility (CSR) mandatory, which has opened new avenues of financing to impact the SDGs. In FY 2022, over INR 25,000 crore was spent under the CSR Act,” according to the UNDP.