The concept of Sustainable Development has been increasingly used by governments, companies and other types of organizations to describe their activities and guide their policy making. Although the Brundtland Report provided a solid foundation for Sustainable Development, it failed to explain how to implement it. This triggered the development of several Sustainable Development policy frameworks, management guidelines and indicators which have been used in an attempt to operate the concept.
Building Africa’s infrastructure for this and future generations require best practices PPS to deliver “bankable” benefits for public and private sector partners, the investors and citizens that keep them accountable. Financing for Sustainable Development of the more than US$100 billion infrastructure needed on the continent must come from institutional investors, including African pensions funds and insurers with long term horizons and explicit integration of Environmental, Social and Governance (ESG) factors in their investment policies.
According to Gordon Brown, Former Prime Minister of the United Kingdom, “Africa’s infrastructure is not fit for the purpose of domestic trade. If the private and public sectors could work together, more effectively, and lay down guidelines that deal with risk, we could mobilize private capital. There is new energy in Africa to move from design to delivery.”
To read more, see CSRFiles Journal Volume 2 Issue 1, 2012