About the Editors xvii Notes on Contributors xix Foreword xxix Foreword: Implementation of the SDGs xxxi Preface xxxv Introduction 1 Part One: Overview and Context 9 Part Two: Where Will the Money Come From? Financing the SDGs 10 Part Three: Technology, Innovation, and Entrepreneurship 12 Part Four: Facilitating the SDGs by Legal Infrastructure Reform 15 Part I Overview and Context 17 1 The UN and Goal Setting: From the MDGs to the SDGs 19 Alma Pekmezovic Introduction 19 What is Development? 20 Is There a Right to Development? 22 Measuring Economic Development 22 Measuring Non-Economic Aspects of Development 23 The Sustainable Development Goals (SDGs) 24 Situating the SDGs in the International Legal Framework 28 Theories of Development: Towards a New Theory of Sustainable Development 29 Economic Theories of Development 30 Cultural Theories of Development 30 Geographic Theories of Development 31 Institutional Theories of Development 32 A New Theory of Sustainable Development 34 Measuring Progress Towards the SDGs 34 Conclusions 35 2 SDGs and the Role of International Financial Institutions 37 Suresh Nanwani Introduction 37 Response and Implementation of the SDGs by IFIs 38 Project Processing and Actions Taken by IFIs to Implement the SDGs, and Responses from Other Development Actors 44 Conclusion and Recommendations for IFIs to Meet SDG Goals and Targets 48 3 Towards a New Global Narrative for the Sustainable Development Goals 53 Iason Gabriel and Varun Gauri Introduction 53 How SMART Are the SDGs? 55 Goals That Stretch 59 Goals That Inspire 62 Sloganising the SDGs 64 Towards a New Global Narrative? 66 Conclusion 69 4 Overcoming Scarcity: The Paradox of Abundance: Harnessing Digitalisation in Financing Sustainable Development 71 Simon Zadek Scarcity: The Paradox of Abundance 71 Financing: A Systemic Challenge 72 Action on System Design 74 Digital Financing of the SDGs 76 Dilemmas: Digitalisation and Dark Financing 80 Sizing the Prize 82 What Next? 84 Concluding Comments 85 Part II Where Will the Money Come From? Financing the SDGs 87 5 The New Framework for Financing the 2030 Agenda for Sustainable Development and the SDGs 89 Alma Pekmezovic Introduction 89 Sources of Development Finance 90 Domestic Public and Private Sources 90 Domestic Resource Mobilisation (DRM) 90 International Public and Private Finance 93 The Role of International Official Development Assistance (ODA) 94 Private Philanthropy 95 Sovereign Wealth Funds, Pension Funds, Insurance Companies, and Investment Funds 96 Barriers to Greater Private Investment 97 The Role of Private and Blended Finance in Development 98 The Development Impact and Risks of Blended Finance 100 An Overview of Blended Finance Mechanisms 101 Innovative Financing Tools: Social Impact Bonds (SIBs) and Development Impact Bonds (DIBs) 102 Best Practices for Engaging the Private Sector 105 Conclusions 105 6 The Contribution of the International Private Sector to a More Sustainable Future 107 Martin Blessing and Tom Naratil Ready and Able to Invest 108 Commercial and Investment Benefits 109 What is Needed to Mobilise Private Sector Money? 110 Partnerships for a More Sustainable Future 112 Partnerships to Rationalise Sustainable Investment Markets 112 Partnerships to Democratise Sustainable Investment Markets 116 7 Re-Orienting the Global Financial System Towards Sustainability 121 Alma Pekmezovic Introduction 121 Background 123 The Legal and Regulatory Framework 125 Company Reporting: Sustainability Disclosure Requirements 128 Institutional Investors: Responsible Investing and Investing for Impact 132 Fiduciary Duties of Institutional Investors and Other Financial Intermediaries 136 Fostering Long-Term Sustainability 140 Conclusion 142 8 How Asset Managers Can Better Align Public Markets Investing with the SDGs 143 Emily Chew and Margaret Childe Why the SDGs Could Transform Sustainability Investing 143 Implementing the SDGs as an Analytical Framework to Align Investing with the SDGs 145 Objectives of Manulife Investment Management''s Approach to SDG-Aligned Investing 145 SDG Assessment Methodology Overview 147 Investable Themes 147 SDG Alignment Assessment 150 Exclusions 152 Applying the SDG Analytical Framework to the S&P 500 Index 152 The Current State of Corporate Goals with Respect to SDG Impact 153 The Current Opportunity Capture of SDG-Related Profit Opportunities 156 Areas in which Corporate Operational Conduct is Most Strongly Aligned with SDG Impact 159 What SDG Developments Can We Expect in the Public Markets Investor Community in 2020 and Beyond? 161 SDG-aligned Investing is Expected to Become Easier 162 Corporate Reporting on the SDGs Will Improve 163 Constructive Dialogue or Engagement with Companies is Necessary to Achieve the SDGs 163 A Call to Action 164 Disclaimer 165 9 The Significance of Sustainable Development Goals for Government Credit Quality 167 Alastair Wilson Environmental Preservation Influences Credit Quality, Including Through the Impact of Climate Change on Growth and Institutions'' Resilience to It 168 Social Risks Such as Poverty and Inequality Feed into Economic and Institutional Strength 170 Strong Institutions Are Closely Related to Ratings and Ratings Factors 174 SDGs Influence Government Credit Quality Through Different Channels, to Varying Degrees 176 Part III Technology, Innovation, and Entrepreneurship 177 10 FinTech for Financial Inclusion: Driving Sustainable Growth 179 Dirk A. Zetzsche, Ross P. Buckley, and Douglas W. Arner Introduction 179 Financial Inclusion and Sustainability: Introducing the Long-Term Perspective 180 Financial Inclusion: Why It Matters 180 Two Sides of the Same Coin 181 FinTech as a Tool for the SDGs 181 FT4FI Initiatives 183 Four Pillars of Digital Financial Transformation 184 Experiences and Lessons 184 Financial Inclusion Initiatives Since 2008: G20 184 Financial Inclusion Initiatives Since 2008: AFI 185 FinTech and Financial Inclusion: The Foundation of Digital Financial Transformation 185 Pillar I: Digital ID and eKYC: Establishing the Foundation 186 Example: The Indian Aadhaar System 186 IrisGuard 187 Regional Approaches: eIDAS in the EU 188 eKYC and KYC Utilities 188 Example 1: South Africa Web-Based KYC Database 188 Example 2: India''s e-KYC System 188 Example 3: eIDAS and eKYC 189 Synthesising the Lessons 189 Pillar II: Open Electronic Payment Systems: Building Connectivity 189 Mobile Money 190 Designing Regulatory Infrastructure for an Open Electronic Payments System 191 Pillar III: Account Opening and Electronic Government Provision of Services: Expanding Usage 192 Electronic Payment: Government Salaries and Transfers 193 Electronic Payment and Provision: Other Core Services 194 Pillar IV: Design of Financial Market Infrastructure and Systems: Enabling New Wider Development 195 Transforming Credit Provision: From Collateral and Microfinance to Cash Flow 195 Adding Insurance and Investments to Savings and Credit 196 M-Akiba 197 Building Better Financial Infrastructure 198 The EU Example: GDPR, PSD2, MiFID2 198 Developing a Comprehensive Strategy 198 Strategic Approach 198 The Challenge of Technology 198 Regulatory Sandboxes, Piloting, and Test-and-Learn Approaches 199 Balancing Inclusion with Other Regulatory Objectives 201 Designing Regulatory Systems: The Example of Mexico 201 Towards Inclusive and Sustainable Growth 202 11 Financing and Self-Financing of SDGs through Financial Technology, Legal, and Fiscal Tools 205 Jon Truby Introduction 205 Self-Sufficient Financing and Achievement of SDGs through Tax Reform 207 Shifting the Tax Burden to Create a Double Dividend 207 Base Erosion and Digital Services Taxation 208 Digitisation of Tax Administration 209 Amendment of the Chicago Convention 210 Self-Sufficient Financing of SDGs through Financial Technology 212 Digitisation of Money 212 Digital Identity 214 Financing SDG 7 and Related Goals through Financial Technology 215 Offsetting Investments in Energy-Intensive Digital Currencies 215 Digital Token Investments 216 Conclusion 217 12 SDG Challenges in G20 Countries 219 Guillaume Lafortune and Guido Schmidt-Traub Introduction 219 The SDGs as Problem-Solving Tools for Transformative Actions and Policies 229 Long-Term Planning and Back-Casting 230 Data and Monitoring 231 Financing 232 Technology Missions 233 Conclusion 234 13 The Future-Fit Business Benchmark: Flourishing Business in a Truly Sustainable Future 235 Geoff Kendall and Martin Rich Introduction 235 The Journey Ahead 236 The World We.