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11. Aligning ESG and SDGs at the Urban Level

Author:
Kris Hartley
Publication Date:
08-2023
Content Type:
Special Report
Institution:
Chicago Council on Global Affairs
Abstract:
This report outlines how cities and the private sector can collaborate on and magnify sustainability efforts that enable broad systemic change. Sustainability efforts require not only public policy interventions and resources but also the initiative and innovation of the private sector. These are systematized through the UN Sustainable Development Goals (SDGs) for governments, including at the city level, and through environmental, social, and governance (ESG) principles for companies. Bringing these two approaches into alignment is a crucial step for fostering multi-sectoral sustainability effort, but this alignment is largely unrealized. Among the local-government sustainability documents examined for this report, mentions of corporate activity are minimal and often superficial, primarily addressing the participation of companies in multi-stakeholder discussions about policy issues. In turn, ESG reports center on the decisions and actions of corporations, with public governance referenced largely in the context of regulatory limitations and policy objectives that affect business operations. Local governments and companies are undertaking sustainability efforts in their own ways. Merging the two through shared focus and strategy can magnify sustainability efforts in ways that enable the broad systemic change needed to avert climate crisis and societal disruption. This report outlines how a more collaborative approach can proceed, first by providing an overview of policy and corporate sustainability efforts and second by detailing examples of both. The report concludes with a discussion about how sustainability narratives can be harmonized between the two sectors.
Topic:
Environment, United Nations, Governance, Sustainable Development Goals, Private Sector, Cities, Society, and Public-Private Partnership
Political Geography:
Global Focus

12. Electronics in the Shahed-136 Kamikaze Drone

Author:
David Albright and Sarah Burkhard
Publication Date:
11-2023
Content Type:
Special Report
Institution:
Institute for Security and International Studies (ISIS)
Abstract:
Shahed-136 kamikaze drones, filled with Western electronics, continue to destroy Ukrainian lives and their civilian infrastructure. These drones, also known as Geran 2, are produced and assembled at JSC Alabuga facilities inside the Alabuga Special Economic Zone in Russia, with assistance from Iran. Yet, the company responsible, JSC Alabuga,1 and related companies are still not found on public U.S. or allied sanctions lists. Information in internal Alabuga documents, analyzed by Institute staff over hundreds of hours, show a remarkable ability to acquire sophisticated electronic components from the West and build modules aimed at defeating Ukraine’s ability to jam Shahed-136 drones and require Ukraine and its allies to keep deploying additional or more advanced jamming systems. The detailed information on the Shahed-136’s electronic components, with part numbers and manufacturer, provide a valuable opportunity to thwart exports of these specific parts to Russia and its partner Iran, which has to date supplied most of these electronic parts to Alabuga for use in the Shahed-136 drone. Starting next year, however, Alabuga has committed to outfit Shahed136 drones with electronic components it acquires on its own. The danger posed by Alabuga should mobilize governments to apply sanctions and other restrictive measures to Alabuga and the associated companies revealed in the documents. Sanctions on Alabuga would not only be helpful in disrupting Alabuga and associated companies’ procurement efforts, but they would cause stress to a giant drone factory that has to produce thousands of Shahed-136 drones on a tight schedule, with little previous experience with drone production, hundreds of new employees on its payroll, and under financial pressure to prove itself as a capable supplier to the military.
Topic:
Sanctions, Weapons, Drones, and Private Sector
Political Geography:
Russia and Eurasia

13. Place of crowdfunding in financing investment projects in Poland

Author:
Marcin Czugan, Michał Karwasiński, Jarosław Mizera, and Ewa Balcerowicz
Publication Date:
03-2023
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
Crowdfunding for business ventures, commonly referred to interchangeably as investment crowdfunding or equity crowdfunding, is a young practice. It first appeared in the USA (in 2009), and is now a rapidly expanding market in developed economies. The first case of investment crowdfunding in Poland, historically the first issuance, took place in 2012, barely three years later than in the United States. Such crowdfunding is a form of raising capital from the market (from investors) for the development of companies by entrepreneurs or owners, acting as the issuers. Specialised companies (fintechs) creating so-called crowdfunding platforms for matching demand with supply – and where offerings are announced and transactions carried out – are the market’s intermediaries. The report we are releasing discusses the specifics of investment crowdfunding, or in other words how this form of raising funds differs from older forms of external financing for businesses. It also presents the potential and the role of crowdfunding for the development of the capital market in Poland, describing demand for this type of financing, the level of interest among investors, and what both demand and interest depend on. In November 2021, European regulations were introduced specifically for this new market. Our authors analyse how these regulations will affect the future of equity crowdfunding in Poland. This issue of mBank-CASE Seminar Proceedings, on crowdfunding in Poland, follows on from a seminar held in March 2022. Three guests at the seminar were experts participating directly in the development of this new component of Poland’s capital market, therefore possessing unique knowledge of the specifics of crowdfunding, and its strengths and limitations.
Topic:
Finance, Innovation, Economic Development, Private Sector, Knowledge Economy, and Crowdfunding
Political Geography:
Europe and Poland

14. Investing in inclusive governance yields dividends in Africa

Author:
Pranish Desai, Monique Bennett, Nnaemeka Ohamadike, and Chrissy Dube
Publication Date:
06-2023
Content Type:
Special Report
Institution:
Good Governance Africa (GGA)
Abstract:
Over the long term, there is a clear association between accountable and inclusive governance on the one hand and broad-based economic development on the other.1 We find empirical support for this assessment at the global, African, and regional levels within Africa across both shorter and more extended periods of time. The explanation is that a long-term governance environment which embraces accountability is also more politically stable, enabling consistent policymaking, which can sustain economic dynamism and meet citizens’ needs. Concerningly, there are African countries, including Angola, which have recently sought to repress rather than encourage participation. This has been one contributing factor to the recent stagnation and reversals which Angola has experienced in critical measures of human development pertaining to education, health and economic outcomes. This intelligence report identifies the critical implications that this finding has for companies with committed financial interests in African countries: • The importance of inclusive governance is that a more participatory, accountable and nondiscriminatory society will also see corresponding improvements in broad-based economic development, which benefits businesses and citizens in tandem. • The private sector has both an incentive and a responsibility to actively invest in mechanisms that encourage accountable governance in African countries where they operate. Investing in these mechanisms minimises the reputational risk companies open themselves up to by engaging in opportunistic behaviour which bolsters rather than blocks repressive behaviour by African governments. • Through supporting inclusive governance initiatives emanating from African civil society and local communities, companies can demonstrate that they have a long-term commitment to fostering economic development in the world’s fastest-growing continent.
Topic:
Governance, Investment, Economic Development, Private Sector, and Inclusion
Political Geography:
Africa

15. Energy Accessibility and Green Energy Cooperation in East Africa

Author:
Munsu Kang
Publication Date:
11-2023
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
While energy accessibility in East Africa is still low, global agenda on energy transition brings African countries moving towards increasing green energy supply such as solar and wind power. East African countries are cooperating in the energy sector to improve energy access and power generation through EAC Vision 2050 and EAPP. One of the key message of those policies is that diversifying energy mix by increasing the share of green energy is essential. For this reason, Korea and East African countries could cooperate on improving policy environment on the energy sector, scaling up green energy projects, diversifying the energy cooperation, and promoting private sector to enter East African market.
Topic:
Renewable Energy, Private Sector, Wind Power, Solar Power, and Energy
Political Geography:
East Africa

16. The sixth domain: The role of the private sector in warfare

Author:
Franklin D. Kramer
Publication Date:
10-2023
Content Type:
Special Report
Institution:
Atlantic Council
Abstract:
The United States and its allies have for some time recognized, as NATO doctrine provides, five operational domains—air, land, maritime, cyberspace, and space.1 Each of those arenas fully fits with the understanding of a domain as a “specified sphere of activity” and, in each, militaries undertake critical wartime actions. But in the ongoing Ukraine-Russia war, certain key operational activities have been undertaken by the private sector as part of the conduct of warfare.2 By way of example, private-sector companies have been instrumental both in providing effective cybersecurity and in maintaining working information technology networks. As part of such efforts, these firms have established coordinated mechanisms to work with relevant government actors. These operational and coordinated activities by the private sector demonstrate that there is a “sixth domain”—specifically, the “sphere of activities” of the private sector in warfare—that needs to be included as part of warfighting constructs, plans, preparations, and actions if the United States and its allies are to prevail in future conflicts. As will be elaborated below, that sphere of activities focuses mainly on the roles of information and critical infrastructures, including their intersections—ranging from the transmission and protection of information to the assurance of critical infrastructure operations. Many of the United States’ activities in the sixth domain will take place in the United States homeland. However, while “defending the homeland” is listed as the first priority in the 2022 National Defense Strategy, insufficient attention has been paid to the actions that will be required of the private sector beyond just the defense industrial base as part of accomplishing an effective defense.3 Likewise, when US military forces are engaged in overseas combat, private-sector companies in allied countries (as well as US companies operating overseas) will be critical for the effectiveness of US forces, as well as for the allies’ own militaries. In short, establishing an effective strategy for the private sector in warfare is a key requirement for the United States and its allies.
Topic:
Cybersecurity, Drones, Artificial Intelligence, Private Sector, Defense Industry, and Russia-Ukraine War
Political Geography:
Russia, Europe, Ukraine, and United States of America

17. Is CBDC Evolutionary or Revolutionary? What Economic History Can Teach Us

Author:
Pierre L. Siklos
Publication Date:
10-2023
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
Looking at six historical examples, this paper explores the relationship between technology and monetary arrangements in the context of central bank digital currency (CBDC). The Industrial Revolution in the United Kingdom, the greenbacks era in the United States and the end of private money in Canada are among the examples that illustrate the role of the private sector in the development of money, the role of governments in overseeing key functions of money and the impact of economic crises. The author sees CBDC as an evolution, not a revolution, of the monetary system that can co-exist with traditional currency by performing the same core functions of notes and coins.
Topic:
History, Digital Economy, Private Sector, and Industrial Revolution
Political Geography:
Canada, North America, and United States of America

18. Stuck Near Ten Billion: Public-Private Infrastructure Finance in Sub-Saharan Africa

Author:
Nancy Lee and Mauricio Cardenas Gonzalez
Publication Date:
02-2022
Content Type:
Working Paper
Institution:
Center for Global Development (CGD)
Abstract:
Many stress the critical role of the private sector in filling yawning sub-Saharan Africa (SSA) infrastructure finance gaps, only widened by the pandemic. Our paper looks in detail at financially closed (construction-ready) transactions with private participation in SSA from 2007-2020. Despite the “billions to trillions” vision, we find no sustained upward trends for such transactions in volumes of total finance, multilateral development bank (MDB) finance, private finance, the share or volume of local private finance, participation by international institutional investors, or finance from bilateral development finance institutions (DFIs). External finance sources were larger than local sources, with Chinese DFIs dominant and the US DFI a marginal actor. Among MDBs, the African Development Bank provided the most finance cumulatively. Investment in renewable energy outpaced investment in fossil fuel infrastructure, but MDBs continued to make significant fossil fuel investments. Investment in water and social infrastructure remains about 5 percent of the total. Policy implications include: the urgent need for greater MDB efforts to use their broad toolkits to catalyze more private infrastructure finance, including from local sources and in social sectors; the case for building on the African Development Bank’s advantages; the importance of growing the US Development Finance Corporation’s efforts; and the strong logic for more collaboration among infrastructure finance providers to SSA, including China, with MDBs providing not only finance but also fora for collaboration and support for the policy and institutional reforms that build sustainability and reduce risk for all actors.
Topic:
Infrastructure, Finance, Private Sector, and Public-Private Partnership
Political Geography:
Africa

19. Accelerating Transitions towards a Circular Economy and Policy Implications for Korea

Author:
Jinyoung Moon, Youngseok Park, Seung Kwon Na, Sunghee Lee, and Eunmi Kim
Publication Date:
08-2022
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
This study analyzes global efforts to transition to a circular economy, and analyzes each country's responses and major issues to the stages of waste generation and management, which decisively distinguish the existing economic system from the circular economy. In addition, this study examines cases of private-sector-led cooperation for sup-porting developing countries in terms of international cooperation and linking with international trade, and also analyzes the implications of information-based environmental policies in response to the circular economy. Finally, based on the results of these analyses, this study proposes policy measures to prepare for the circular economy.
Topic:
Development, International Cooperation, Economy, Trade, Private Sector, and Management
Political Geography:
Asia and South Korea

20. Corruption and Private Sector Investment in Ukraine’s Reconstruction

Author:
Nick Fenton and Andrew Lohsen
Publication Date:
11-2022
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
The aim of the bipartisan and international CSIS Ukraine Economic Reconstruction Commission is to produce a policy framework that will help attract private sector investments to support Ukraine’s future economic reconstruction. To support the commission, CSIS will convene a series of working groups to examine a range of issue-specific areas that are critical for reconstruction and modernization of the Ukrainian economy, including in agriculture, energy, and transportation and logistics, as well as addressing the impact of corruption on private sector investment. Ukraine experienced significant human and economic losses in the first six months of Russia’s unprovoked invasion. In July 2022, the Ukrainian government estimated the cost of recovery at $750 billion. That figure continues to grow due to ongoing missile strikes and artillery shelling, population displacement, and disruptions of exports. Given the scale of Ukraine’s losses, private sector investment will be critical to the country’s recovery and transformation. But concerns about corruption threaten the flow of much-needed funds. Ukraine has undertaken significant anti-corruption reforms in recent years, but it will need to show additional progress to maximize the potential for foreign investment.
Topic:
Corruption, Infrastructure, Investment, and Private Sector
Political Geography:
Europe and Ukraine