It is a pleasure to welcome you all to this side event organized jointly by UNDP and the World Bank. I thank you for participating in this event.

We know that pollution is one of the triple crises facing the planet.  Pollution disproportionately affects developing countries, who are the ones most affected by pollution but the least able to address it.  

We recognize the important role of chemicals in our economy. However, unsound management of chemicals and waste are contributing pollution to air, water, soil, biodiversity loss and climate change.  

While the Global Environmental Facility has provided significant resources to countries to eliminate harmful chemicals from key supply chains, we know much more is needed to meet countries’ needs.  Without leveraging other sources, sustainability will be a huge challenge. It is even more important to explore ways to internalize the cost of pollution in value chains to build a robust lifecycle management of products with shared responsibility towards a pollution-free and circular economy.  

In this side event, we will learn from development agencies, GEF, and parties on how to integrate sustainable finance and chemical and waste management at global, regional and national levels to unlock green supply chains that minimize pollution.    

Our partnership with the GEF has been critical in unlocking finance to prevent chemical and waste pollution through integrated programs in key value chains. For example, the new Integrated Collaborative Approaches for Sustainable Tourism (iCOAST) programme will tackle the sustainability challenges of this sector, strengthening policies and regulations; improving funding access; building green supply chains; and disseminating knowledge. Its goal is to reduce environmental pressures while nurturing thriving local economies. GEF will provide USD 95 million, unlocking USD 842 million co-financing from public and private sectors. This initiative is led by UNDP and involves 14 countries and 7 implementing agencies.  

UNDP supports countries to align their financial systems with the SDGs, including climate action, biodiversity protection, pollution prevention, and good governance. Our strength lies in connecting global innovation to local solutions, working alongside governments, financial institutions, and investors, to lay the foundation for a thriving sustainable financial ecosystem.  

For example, UNDP has recently launched a Platform for Investment Support and Technical Assistance (PISTA) to raise $500 million in investments across 50 projects in Africa over the next four years. By helping to de-risk investments and providing technical support, PISTA ensures that sustainable finance reaches the projects that need it most. Insurance and de-risking instruments are increasingly becoming critical enablers to address financing gaps.  In 2024, the UNDP’s Insurance and Risk Finance facility worked with 25 governments and 21 insurance industry partners to support sustainable solutions involving farmers, SMEs and their value chains.  

Colleagues, collaboration and partnership are key for success for our collective action towards one common goal of inclusive and sustainable development.  We look forward to working with you all.

Thank you and I wish you a highly productive discussion.