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private sector

Global business leaders announce initiatives for women

Sameer Vasta's picture

Student at Shreeshitalacom Lower Secondary School. Kaski, Nepal. Photo: © Simone D. McCourtie / World Bank

This past Sunday, at an event co-hosted by the Hüsnü M. Özyegin Foundation, global business leaders came together to discuss the impacts of the ongoing economic crisis on women. The event culminated in the announcement of several new partnerships to support women around the world.

Highlights of the new partnerships and initiatives announced at the event include:

  • The Özyegin Foundation and Goldman Sachs will expand the Goldman Sachs 10,000 Women program to Turkey.
  • Boeing announced Forum member efforts to track and spend $2 billion over the next three years on goods and services from women-owned businesses in supply chains.
  • Belcorp announced a partnership with the World Bank to train 50,000 women in financial literacy in Latin America.
  • McKinsey presented their new research, “The Business of Empowering Women,” which maps out potential business sector contributions across women’s life cycles.

 

Getting on a technology pathway to avoid dangerous climate change

Alan Miller's picture
   An IFC investment helps provide clean, affordable water to underserved communities in developing countries.

Many of the measures proposed in the World Development Report (WDR) 2010 will require substantial engagement with the private sector. The UN Framework Convention on Climate Change has estimated that more than 80 percent of the investment required for climate change mitigation and adaptation will have to be privately financed. For this to happen, the key requirement will be meaningful targets and supportive public policies.

One area in which private initiative will be critical is in the development and dissemination of new climate friendly technology. As the advance edition of the WDR states, "Technological innovation and its associated institutional adjustments are key to managing climate change at reasonable cost. . . . Mobilizing technology and fostering innovation on an adequate scale will require that countries not only cooperate and pool their resources but also craft domestic policies that promote a supportive knowledge infrastructure and business environment."

For several reasons, an increased focus on accelerating new technology is urgently needed.

The world is looking very different

James Bond's picture

MIGA Post-Crisis Panel

From now on, there will be need to be a more nuanced relationship between public and private sectors to sustain growth, and regional sources of growth will become more diversified.  These are two of the conclusions of MIGA's discussion panel on the post crisis outlook held on October 4 in Istanbul.

A panel of international experts, including the Colombian Minister of Finance Mr. Oscar Ivan Zuluage, MIGA's Executive Vice-President Izumi Kobayashi, and Nick Rouse, Managing Director of Frontier Markets Fund Managers, agreed on some aspects of the vision going forward, but had differing views on others. 

Taking on a more proactive, energetic role, public authorities worldwide have played a large role in limiting the downside of last year's financial crisis, they agreed. In Eastern Europe and Central Asia, the International Financial Institutions Initiative (in which MIGA participated) to support recapitalization of these countries' banks drew mention as one example of this type of successful multilateral intervention. 

Green solutions from Ghana

Kwasi Owusu Gyeabour's picture

The author, Kwasi Owusu Gyeabour, won third place in an international youth essay competition sponsored by the World Bank and other partners. He answered the question “How can you tackle climate change through youth-led solutions?” The awards were announced in Seoul in June, 2009.

There is never a time in the future in which we will work out our salvation. The challenge is in the moment, the time is always now.” -James Baldwin (1924 - 1987) Nobody Knows My Name, "Faulkner and Desegregation

It is a privilege to be called on to share ideas on issues of our time, issues that can be solved through youthful action. In my essay, “Greening the Ghanaian Youth” I proposed several ideas that would help tackle climate change. Here is a sample of the ones I consider most practical.

Youth action at the community level is the most potent force in our fight against rapid climate change. So I proposed the establishment of a Green Sector Mutual Fund. This community-based fund will invest in firms that operate in the green/environmental sector. Now I consider this feasible because I have friends who have established mutual funds such as the University of Ghana Campus Mutual Fund which have turned out successful. The success of a fund mostly depends on factors such as advertising and the prestige and market reach of the fund managers. Most asset management firms these days would jump at the opportunity to manage something ethical just to create a sense of social responsibility and goodwill.


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