Infrastructure systems are drivers of economic growth and enable access to basic services and economic opportunities that improve livelihoods and well-being. The OECD has estimated that US$6.9 trillion will need to be invested in infrastructure every year to meet achieve the SDGs by 2030. This will be even more significant in the post-COVID-19 context, as infrastructure investments are likely to play an important role in the socio-economic recovery and government stimulus packages as one of the most effective ways to create jobs and stimulate economic growth.
SUSTAINABLE INFRASTRUCTURE AT UNEP AND AIIB
In response to these challenges, United Nations Environment Programme (UNEP) created the Sustainable Infrastructure Partnership (SIP) in 2018 as a platform to promote and support integrated approaches to sustainable infrastructure planning and development. In February 2021 UNEP launched the International Good Practice Principles for Sustainable Infrastructure and an accompanying set of illustrative case studies.
Likewise, Asian Infrastructure Investment Bank (AIIB) has played its important role in promoting sustainable infrastructure construction, connectivity and regional cooperation in Asia and beyond by offering sovereign and non-sovereign financing for sustainable projects. AIIB is committed to helping its clients build “Infrastructure for Tomorrow (I4T)” that is environmentally, economically, and socially sustainable. The AIIB’s Environmental and Social Framework provides clear requirements for ensuring the incorporation of sustainability into infrastructure projects.