9 September 2019, New York City – The SDG Impact, a flagship initiative of the UNDP to advance transparency and mobilise private capital to advance the Sustainable Development Goals (SDGs), launched a new set of standards for Private Equity. The UNDP SDG Impact Practice Standards for Private Equity (the Standards) are under comment and consultation through to 4 December 2019.
The Private Equity Industry, increasingly interested in leveraging its financial power to drive positive impact for the people and planet as well as securing more resilient portfolios and financial returns, have asked for guidance. These new Standards will make it easier for the private sector to operationalise the SDGs and fill the gap between showing an interest and acting to advance the SDGs. The Standards will complement, not compete, with principles and frameworks already in place. The next Standards to be developed are UNDP Practice Standards for Bonds and Enterprises.
The Standards will include a tiered certification framework that acknowledges and differentiates good practices. This will be further solidified by an SDG Impact Seal based on compliance with certification criteria.
“I believe that the UNDP SDG Impact will play a crucial role, by giving the finance sector and investors a common approach for SDG impact management. Meanwhile it is important that the Private Equity community engages in the consultation process to ensure that we use our collective competence to make the Standards as impactful as possible for the Private Equity industry. Investments will help us achieve the SDGs and we know that change goes where the money flows,” said Anna Ryott, Chair of the Board, Summa Equity and SDG Impact Steering Committee member when speaking at the UNDP Executive Board meeting in NY on Wednesday 4 September 2019.
The Standards are targeted towards fund managers, asset owners and investors, industry bodies and communities, enterprises, analysts, advisers, research houses, the media and development finance institutions, governments and multilateral organisations.
The Standards are available for download here.
Read the full statement from SDG Impact on the UNDP website.
Read here Summa Equity’s involvement in the SDG Impact.