World Bank Joins Multilateral Development Banks to Declare a Shared Commitment to Sustainable Procurement
Å·ÃÀÈÕb´óƬ has joined eleven other Multilateral Development Banks (MDBs) to release reflecting their commitment to integrating sustainable procurement into their development operations.
MDBs are also committing to working with partner countries to implement national-level reforms in order to mainstream sustainability into domestic procurement activity.
Governments spend US$13 trillion annually -around 15% of global GDP- which highlights the important role public procurement will play in achieving global sustainability goals.
MDBs will work with partner countries to achieve a broad set of sustainability objectives, including achieving the goals set out in the Paris Agreement with a particular focus on decarbonizing supply chains, closing gender gaps and increasing inclusion.
A working group established between the development banks will work together on a number of initiatives, focusing on:
- Awareness building, outreach, and partnership
- Building a common approach and identifying opportunities for harmonization
- Training and development within the MDB community and for partner countries
- Monitoring and communicating impact
