Independiente Diálogo
Enfoque geográfico:
Sin fronteras
Discussion topic outcome
Panel 2 discussed how sustainable finance and investments in line with green, blue and circular economy principles are pivotal to enabling FST in the Mediterranean, crucial for sustainability. Underfunding is a major issue, as it is still not seen as a priority in political agendas. These should take into consideration factors such as climate change, nutrition, agriculture, health and adopt a multi-stakeholder approach, in order to provide an enabling environment for investments in SFS, making them more attractive to the several players of the financial ecosystem (public and private entities,
... Leer másphilanthropists, banks and international financial institutions (IFIs), cooperatives, insurances, etc). The UN and IFIs can play a catalyst role in this regard, supporting the mobilization of efforts and promoting policy reform to improve the investment climate to increase public and private finance and investments functional to making the private sector more agile, and to rebalance its role in relation to the public sector. The role of public development banks could also be enhanced through digitalization, paying attention also to social inclusion and gender equality, following the guidance of the 2030 Agenda and the Paris agreement. Tools such as blending can be used to leverage the areas of expertise of different stakeholders, capturing food systems as a whole, to scale up sustainable blue and green finance to develop more bankable projects and address negative externalities determined by phenomena such as COVID-19. In this respect, the Sustainable Blue Finance Principles and the EU Taxonomy for sustainable activities were mentioned. There is also a need to link innovation and finance through holistic and community-wide programmes with certification schemes that guarantee that the retail power of sustainability is utilised at its fullest, putting consumers’ demand for healthy and sustainable products at the centre (the Mediterranean diet is a major asset in this regard). Investments shall be made along the whole food value chain, strengthening linkages and increasing standards. For example, investments shall support transition towards more efficient landscape planning, diversification of crops, switch to organic farming, integration of precision farming, valorisation of biomass, sustainable aquaculture; resource efficiency should be the core of investments in agroindustry, consolidating processes, taking advantage of economies of scale to facilitate modernization through innovation. Among others, investments shall target foods that have competitive edge for export, where they can be leveraged by promoting capacity building and skills development, fostering a more agile system and shifting the subsidies regime. Public and private support to farmers/fishers and SMEs to learn the grammar of sustainability in developing comprehensive business plans could help de-risking investments and putting consumers at the centre. IFIs should support more foreign direct investments in private sector and primary agriculture, triggering the creation of linkages to foster inclusion and economic activities especially for youth, and contributing to the development of infrastructures. Standards for environment, social inclusion, governance, procurement (transparency, pricing, etc) are also important to attract more investment in the region. Finance and investments are necessary to build stakeholders’ capacities to advance sustainability in their practices, fully understanding its potential and not considering it only as an administrative burden. An ideal setting for this to happen is the SFS-MED Platform: dialogue and mutual support can enhance policy coherence within and across countries and partners, focusing on green, inclusive, digital innovation to support the scaling up of investments contributing to sustainable growth. Such a platform is also a useful tool to consolidate lessons learned, push for high-standards, and support capacity and institutional building for countries and companies (in particular MSMEs), creating the perfect enabling environment for cooperation, understanding, mutual support to achieve the common goals of sustainability. Leer menos
Línea(s) de Acción: 2, 3, 4
Palabras clave: Finance, Governance, Innovation, Policy