Ireland and the United Nations Development Programme (UNDP) have announced the establishment of a new Project Office for Sustainable Finance in Dublin, which will be backed by €7.5 million in Irish government support over the next three years.
The announcement was made by Irish minister for finance, Paschal Donohoe, and UNDP administrator Achim Steiner at the World Bank/IMF Spring Meetings in Washington DC.
‘A global platform’
The office will ‘serve as a global platform to drive innovation, scale impact, and strengthen the alignment of finance with climate, nature, and sustainable development goals’, the UNDP said in a statement, and assist in aligning global finance with the aims of the UN Sustainable Development Goals (SDGs).
“Finance is one of the most powerful tools we have to tackle climate change, nature loss, and inequality,” commented UNDP’s Steiner.
“Through this new Project Office, and with Ireland’s leadership and vision, UNDP is creating a global platform that connects financial centres, regulators, and markets with the needs of people and planet. Dublin’s blend of innovation, talent and international financial reach makes it an ideal partner for this mission.”
The Dublin office will operate as a ‘delivery platform’ for the UNDP’s Sustainable Finance Hub, hosting the secretariats of the UNDP Financial Centres for Sustainability (FC4S) and the Sustainable Insurance Forum (SIF).
In addition, it will seek to connect financial institutions, regulators and public agencies across more than 40 countries, providing them with the tools, partnerships and insights needed to mobilise capital for sustainable outcomes, as well as contribute to country-level work and international engagement through platforms such as the G20, APEC, the FfD4 and the UN climate negotiations.
‘Shaping global sustainable finance’
“This new UNDP Project Office reflects Ireland’s ambition to be at the heart of shaping global sustainable finance,” Donohoe added.
“At a time when the world faces immense climate, nature, and development challenges, aligning public and private finance to deliver real impact is essential. Ireland is proud to contribute €7.5 million over three years to this effort. I’m confident that Dublin can become a vital hub for innovation in this space—connecting financial expertise with the world’s sustainability priorities.” Read more here.
