The UN Development Program (UNDP) in Turkey has launched a map to help steer capital towards sustainable and inclusive investments.
The Sustainable Development Goals Investor Map Turkey, initiated by UNDP Turkey, was introduced at the Policy Dialogue Event at the Bosphorus Summit in Istanbul on Monday.
According to a statement by UNDP Turkey, the map aims to “guide investors towards mobilizing capital into activities that deliver strong financial returns while reducing poverty and inequality, advancing health and education, and protecting the environment.”
The map, which provides information on 27 investment opportunity areas across nine priority sectors in Turkey, is the product of “rigorous” review of national policy documents and international development assessments, as well as extensive stakeholder consultations, the statement said.
Namely, these sectors are technology and communications, transportation, renewables and alternative energy, education, health care, food and beverages, consumer goods, infrastructure and financials.
UNDP administrator Achim Steiner delivered a keynote speech during the Bosphorus Summit, saying that the Sustainable Development Goals (SDG) of the UN Investor Maps are a “powerful tool — providing detailed information on how specific investments and business models advance the sustainable development.”
Complemented by advocacy and facilitation efforts, at least 10 SDG investments are expected to mobilize approximately $50 million in each country as a result of the maps, said Steiner.
He added that the map Turkey would help the private sector in the country channel finance towards “national priorities and development needs — and ultimately towards the SDGs.”
Also speaking at the panel, UNDP Turkey Resident Representative Claudio Tomasi emphasized that it would be possible to handle the current crisis in the world economy by taking steps towards sustainable development.
“Increasingly we acknowledge the importance of a new global development agenda, which calls for more public-private partnerships to address the financing gap of 2.5 trillion dollars per year to meet the SDGs by 2030,” he noted.
Turkey’s green agenda
Burak Daglioglu, head of Turkey’s Investment Office, said investors now care more about the social dimensions of their investments.
Issues such as women employment, green energy, greener production methods, financial inclusion and elimination of regional development disparities are more at the forefront than ever before, he underlined.
“As the Investment Office, we’re dealing much more with the equity perspective of the SDG agenda and we’re closely followed up by the private equity funds raised exclusively for impact investing in line with the SDGs,” stressed Daglioglu.
He said that Turkey was working to adopt the EU’s green agenda, adding: “This SDG mapping will also contribute to Turkey’s efforts in this regard.”
Daglioglu underlined that Turkey is a dynamic and growing G20 economy, inviting investors to the country.
UNDP Turkey initiated the SDG Investor Map Turkey with the Istanbul International Center for Private Sector in Development (IICPSD), as the technical service provider in partnership with the Investment Office of the Presidency of Turkey.
The map is slated to be available online in the coming months.
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