中小企业是发展中国家实现可持续发展目标的关键。投资于中小企业为实现可持续发展目标做出贡献的能力，对我们的未来至关重要。“管道建设者”（Pipeline Builder）是由Ground_Up项目和联合国日内瓦可持续发展目标实验室设计和管理的金融中介机构，它结合了发展、金融和公共政策方面的专业知识，并采用创新方法，旨在推动新兴市场私营部门更积极地参与可持续发展目标的实现。Ground_Up的创始人兼首席执行官布林杜莎·伯罗斯（Brindusa Burrows）将解释该机构的运作方式和原因。.

“管道建设者”项目的初衷是什么？

尽管越来越多的迹象表明我们正处于全球社会、环境和经济危机的边缘，但大多数私人投资仍然将可持续发展目标（SDG）视为“锦上添花”。在新兴市场，中小企业迫切需要可持续发展目标，而这些企业必须获得更好的金融资源才能取得成功。“管道建设者”项目旨在加快资本流入这些市场，我们认为这种方法更符合实际需求。我们的方法在于赋能新兴市场中投资于对各国可持续发展目标至关重要的行业的资产管理公司，加速他们现有的投资活动，并为他们支持的中小企业获取新的资金。

投资者们一直在谈论建立可持续发展目标投资渠道的必要性。这并非意味着新兴市场没有投资机会，而是在当前的风险回报预期下，这些机会可能并不合适。例如，这些市场可能被认为不稳定，或者由于规模太小、从可持续发展目标的角度来看缺乏验证，又或者投资激励机制存在偏差，因此可能不具吸引力。 “管道构建者”旨在将可持续发展目标相关的投资机会与潜在的私营部门投资者进行匹配，而这些投资者大多缺乏新兴市场经验。那么，

在国家层面，“管道构建者”的需求体现在哪些方面呢？

我们绝不能忽视对新兴市场可持续发展目标的投资。短期来看，这关乎投资回报的竞争，以及对那些通过造福人类和地球而获得良好商业回报的中小型企业的支持。但从长远来看，在亟需可持续发展目标的地方落实这些目标，将带来稳定，并创造我们渴望生活的繁荣可持续的世界。.


我们专注于微型、小型和中型企业。吸引投资对这一群体而言最为困难，但我们相信，新兴市场中大多数创新和应对可持续发展目标的机会都蕴藏于此。国内私人投资者和资产管理公司是我们使命的重要组成部分。凭借对本地市场的深入了解，他们带来了丰富的经验和不同的风险视角。他们还可以调动国内资本，这对于吸引国际资本投入可持续发展目标至关重要。Pipeline

Builder 与其他类似中介机构有何不同？

在国家层面寻找可持续发展目标投资项目，首先要解决风险认知问题。这需要当地私营金融机构、政府和联合国发展系统等各方积极参与并共同努力。自项目启动以来，各国的项目建设策略都是致力于在上述三个领域内建立可信赖且透明的关系。近期，我们还推出了一个专业平台，国内企业家和资产管理公司可以在此平台上私下发布投资项目，这些项目将接受评估，并仅限受邀投资者参与。.

“管道建设者”项目的独特之处在于，我们将其定位为一个中介平台，将可持续发展目标（SDGs）方面的专业知识与私人投资领域的专业知识相结合。我们的目标是了解并理解国内金融机构，为国内资产管理公司提供一个平台，使其能够向国际投资者推介现有的投资和联合投资项目。我们接受各国政府和联合国的指导，将这些项目与各国自身确定的最紧迫的可持续发展目标需求相匹配。

过去18个月，我们一直在加纳试点推行这一模式。我们已从国内投资者那里挖掘出约3900万美元的直接投资机会，目前正与加纳金融机构合作，设计一个2.5亿美元的国家“基金中的基金”，旨在通过一个更大的工具汇集本地中小企业可持续发展目标投资机会，从而吸引国内外资本流入现有的国内基金。


联合国日内瓦办事处可持续发展目标实验室的作用是什么？

自项目启动以来，可持续发展目标实验室一直是至关重要的合作伙伴。三年前，该实验室在日内瓦举办了一系列圆桌会议，会上公共和私人金融机构的代表一致认为，投资渠道是关键问题。为了应对这一需求，我们共同创建了“投资渠道建设者”项目。该项目由可持续发展目标实验室孵化，并获得了瑞士发展合作署的资助。.

The SDGs are an agenda for governments, the UN, and the private sector to work together, and the SDG Lab created the space for the Pipeline Builder to emerge as a public-private partnership. The SDG Lab team has made critical connections with UN Resident Coordinators who coordinate UN support to countries in implementing the 2030 Agenda. The Lab also helped leverage its broader network to facilitate introductions with government officials at the highest levels, looking to understand country needs and where the Pipeline Builder expertise might be able to help. Lastly, the Lab helped amplify the need for a Pipeline Builder at different international fora, from the Building Bridges sustainable finance conference to UN high-level meetings.

Why is private finance important for the SDGs?

Achieving the SDGs requires a change in how we think about investing capital into emerging economies and how we work with emerging economies partners. Today, most funding for climate action and other pressing environmental and social needs still comes from the public sector. Growth in private-sector funding for the SDGs has occurred mainly through impact investing, which targets local solutions and innovations.

According to the best available estimates, the current level of private financing – impact investment, bonds, and all other existing instruments is well short of SDG estimated needs post-pandemic, which have been revised upward to USD 4.3 trillion a year. To put this into perspective, the size of global equity capital markets was USD 124.4 trillion in 2021. It is not desirable, not equitable, and not sustainable in the long term to continue to grow capital markets without fully integrating the SDG imperatives. You can see the urgency in accelerating private financing flows towards the SDGs.

What’s next for the Pipeline Builder? 

We are examining the Ghana pilot together with our partners and our Advisory Board to draw lessons for next steps, while we continue to support Ghanaian parties engaged in both the existing deal platform and the Fund of Funds design. The Pipeline Builder can operate only based on demand from emerging markets, from the ground up if you’ll allow me the expression. There are several discussions ongoing in several sub-Saharan African countries that are ready and eager to attract international investment into priority SDGs. We can also assist private financing institutions looking to engage with the SDGs in emerging markets via larger-scale aggregated portfolios.

Why is the Building Bridges sustainable finance conference an important initiative?

The Building Bridges initiative is a helpful venue to present the innovative SDG investment pipeline building approach. The ethos of the conference of bridging across sectors and value chains enables us to bring our concrete work in the emerging markets closer to a broader group of Swiss-based and international investors.

At this year’s Building Bridges Week, coming up in early October, we will be hosting a workshop where we will help to demystify risk and present our pilot approach to identifying SDG-aligned SME investment opportunities in Ghana. Additional partners in the workshop are the Swiss Embassy in Nairobi and the Network of Financial Centers for Sustainability. We are offering the stage to entrepreneurs, asset managers, investment promotion representatives, UN resident coordinators and agencies from several African markets to engage in a frank and direct conversation with the Swiss finance community so that we can collectively raise our perception of the SDG opportunities that need to take off without delay.

可持续发展目标实验室的客座投稿