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Poverty-Environment Action further aims at helping establish the enabling conditions for aligning public and private finance and investment with environmental sustainability and climate objectives for poverty eradication through the development of national SDG financing strategies and innovative financing instruments, and by applying economic analysis to inform investment and expenditure decision-making. The project will:

  • Support a second generation of environment (including biodiversity) and climate public expenditure and institutional reviews to strengthen budget formulation processes and advocate for increased budget allocations towards environmental sustainability and climate objectives for poverty eradication1
  • Contribute to development and implementation of national SDG financing strategies and innovative financing instruments, with a focus on public and private financing flows relevant to environmental sustainability and climate objectives for poverty eradication
  • Support analysis and design of fiscal policies and incentives to advance environmental sustainability and climate objectives for poverty eradication, including environmental fiscal reforms to promote and increase revenue from sustainable environment and natural resource management
  • Review of fiscal and other incentives and options for improving alignment of public investment in support of environmental sustainability and climate objectives for poverty eradication, and for using public finance to leverage private finance and investment
  • Strengthen budget literacy of relevant parliament committees and civil society for improved follow-up on budget reviews related to environmental sustainability and climate expenditures
  • Promote visibility and policy dialogue with government and development partners to increase funding towards local programmes/projects in support of poverty, environment and climate objectives
  • Support development and implementation of guidelines and tools to steer private sector investment decisions towards sustainability—e.g. investment screening, approval, monitoring and compliance—through environmental and social safeguard systems (including screening guidelines, environmental impact and strategic environmental assessment, consultation and grievance mechanisms), impact measurement matrixes, and corporate reporting
  • Conduct awareness raising and capacity building on inclusive and sustainable business practices for the private sector

 

  • 1With a greater focus on the quality of expenditures (e.g. assessing linkages across poverty, environment and climate-related expenditures). Where possible, the project will seek to institutionalize expenditure reviews through budget tagging and coding versus support for stand-alone reviews.