IFC Report Examines Role of Private Sector Finance in Green Growth
June 2012: The International Finance Corporation (IFC) of the World Bank Group has released a new publication titled “MoneyMoves: How Private Sector Finance Can Work for a Sustainable Future,” examining the successes and challenges of private sector involvement in environmental sustainability initiatives.
The report presents 15 interviews with big business leaders on their roles in environmental and social sustainability projects. The case studies contribute to a proposal for the most feasible and effective means of private sector involvement on the path to green growth.
The main challenges identified for the private sector are: balancing food security with the threat of climate change; access to credit to rapidly expand into sustainable technologies; compiling effective environmental and social data; and systematically eliminating reliance on fossil fuels. The report suggests that these challenges can be addressed through awareness raising campaigns, tools to recognize and support sustainable business, and allocating funds to support sustainability projects.
Overall, the report finds that the private sector should demonstrate stronger leadership in taking initiative to promote sustainable development and eradicate poverty. [Publication: MoneyMoves: How Private Sector Finance Can Work for a Sustainable Future]