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Social impact investment can provide new ways to more efficiently and effectively allocate public and private capital to address social and economic challenges at the global, national and local levels. While these innovative market-based approaches will not replace the core role of the public sector or the need for philanthropy, they can provide a potentially powerful means for leveraging existing capital.
This report provides a framework for assessing the social impact investment market and focuses on the need to build the evidence base, in particular for impact assessment compared to existing social service delivery models. The report highlights the importance of further international collaboration in developing global standards on definitions, data collection, impact measurement and evaluation of policies as well as experience sharing between players in the market. International organisations can play an important role in facilitating these collaborations as well as conducting further analysis and data collection.
Los países desarrollados tienen el compromiso de movilizar, para el año 2020, la cantidad anual de 100.000 millones de dólares para la financiación de la lucha contra el cambio climático en los países en desarrollo. Transcurridos cinco años desde que se formulase ese compromiso en la COP15 de Copenhague de 2009, y cuando faltan seis para el año 2020, este documento da cuenta de los avances logrados y del nivel de financiación para el clima conseguido por los países desarrollados en el bienio 2013-14. Sin duda se han logrado importantes avances de cara a este objetivo. De acuerdo con las estimaciones preliminares de este informe, la financiación relacionada con el cambio climático alcanzó la cifra de 62.000 millones de dólares en 2014, frente a 52.000 millones en 2013, con lo que el promedio anual fue de 57.000 millones de dólares en el bienio de referencia. Este informe pretende ser transparente y riguroso en la evaluación de los datos disponibles, así como en la elección de los supuestos de que partir y en las metodologías utilizadas, dentro siempre de las limitaciones que supone todo informe sobre datos agregados. Los enfoques metodológicos y la recopilación de datos que avalan las presentes estimaciones evolucionan sin cesar. Pese a ello, y como se apunta en el propio informe, todavía queda bastante por hacer para poder contar en el futuro con unas estimaciones más exhaustivas y precisas. La OCDE y la Iniciativa de Política Climática (CPI) están dispuestas a apoyar en la realización de esos esfuerzos.
In 2009 developed countries committed to jointly mobilise USD 100 billion a year in climate finance by 2020 for climate action in developing countries. This report provides a status check on the level of climate finance mobilised by developed countries in 2013 and 2014, five years after this initial commitment was made at COP15 in Copenhagen. It shows that there has been significant progress in meeting this goal.
The report aims to be transparent and rigorous in its assessment of the available data and underlying assumptions and methodologies, within the constraints of an aggregate reporting exercise. While methodological approaches and data collection efforts to support estimates such as this one are improving, there nevertheless remains significant work to be done to arrive at more complete and accurate estimates in the future.
Les pays développés se sont engagés à mobiliser ensemble 100 milliards USD par an d’ici à 2020 afin de financer les efforts de lutte contre le changement climatique dans les pays en développement. Cinq ans après l’annonce de cet engagement, qui a été faite à Copenhague en 2009 lors de la COP15, et six ans avant la date butoir de 2020, ce rapport présente un état des lieux du financement climatique mobilisé à cette fin par les pays développés en 2013 et 2014. Des avancées non négligeables ont été réalisées vers cet objectif. Selon les estimations préliminaires que présente ce rapport, le financement climatique a atteint 62 milliards USD en 2014 et 52 milliards USD en 2013, ce qui équivaut à une moyenne de 57 milliards USD par an pour ces deux années. Le rapport s‘attache à faire preuve de transparence et de rigueur dans l’analyse des données disponibles et le choix des hypothèses et des méthodes sous-jacente, malgré les limites que peut imposer un exercice de notification globale. Les approches méthodologiques et les activités de collecte de données nécessaires pour étayer l’élaboration d’estimations de cette nature vont en s’améliorant. Comme le souligne le rapport, il reste néanmoins des efforts importants à faire pour parvenir à établir des estimations plus complètes et plus justes à l’avenir. L’OCDE et CPI sont prêts à appuyer cet effort.
The new OECD Guidelines on Corporate Governance of State-Owned Enterprises provide an internationally agreed benchmark to help governments assess and improve the way they exercise their ownership functions in state-owned enterprises. Good corporate governance of state-owned enterprises is a key reform priority in many countries. Improved efficiency and better transparency in the state owned sector will result in considerable economic gains, especially in countries where state ownership is important. In addition, creating a level playing field for private and state-owned enterprises will encourage a sound and competitive business sector. The Guidelines, first adopted in 2005, provide a set of good practices on the legal and regulatory framework for state-owned enterprises (SOEs), the professionalisation of the state ownership function and the corporate governance arrangements of SOEs. This new version of the recommendation was developed in the light of almost a decade of experiences with its implementation and a number of thematic and comparative studies, developed on the basis of the earlier version of the Guidelines, that showed the need for, and supported, their revision, including in areas such as disclosure and transparency, public-private competition, board practices and funding and financing of SOE.
Les nouvelles Lignes directrices de l'OCDE sur la gouvernance des entreprises publiques constituent une référence reconnue au niveau international qui a vocation à aider les États à évaluer et améliorer leur façon d’exercer leurs fonctions d’actionnaire d’entreprises publiques. Assurer la qualité de la gouvernance des entreprises publiques est une priorité de réforme essentielle dans de nombreux pays. L’amélioration de l’efficacité et de la transparence dans le secteur des entreprises publiques procurera des avantages économiques considérables, en particulier dans les pays où le poids de l’actionnariat public est important. En outre, le fait de soumettre les entreprises privées et publiques à des règles du jeu équitables favorisera l’avènement d’un tissu économique solide et compétitif. Les Lignes directrices, adoptées pour la première fois en 2005, contiennent un ensemble de bonnes pratiques concernant le cadre juridique et réglementaire régissant les entreprises publiques, la professionnalisation de la fonction d’actionnaire de l’État et les régimes de gouvernance des entreprises publiques. La nouvelle version de la recommandation sur la gouvernance des entreprises publiques a été élaborée à la lumière de près d’une décennie d’expérience de mise en application et après un certain nombre d’études thématiques et comparatives portant sur la version précédente des Lignes directrices qui ont montré la nécessité de les revoir et éclairé le processus de révision, notamment dans des domaines comme la diffusion de l’information et la transparence, la concurrence entre les secteur public et privé, les pratiques des conseils d’administration et les sources et mécanismes de financement des entreprises publiques.
The publication provides an overview of the disaster risk assessment and financing practices of a broad range of economies relative to guidance elaborated in G20/OECD Framework for Disaster Risk Assessment and Risk Financing. The publications is based on survey responses provided by 29 economies, as well as research undertaken by the OECD and other international organisations, and provides a global overview of the approaches that economies facing various levels of disaster risk and economic development have taken to managing the financial impacts of natural and man-made catastrophes.
Bank lending is the most common source of external finance for many SMEs and entrepreneurs, yet has proven challenging to newer, innovative and fast growing companies, as well as to those undertaking important transitions in their activities or seeking to de-leverage and improve their capital structures.
This report maps a broad range of external financing techniques to address diverse needs in varying circumstances, including asset-based finance, alternative debt, hybrid instruments, and equity instruments. It further highlights key enabling factors for their development, discusses major market trends and obstacles to SME uptake, and suggests some key areas of policy action to overcome challenges to market development.
Este informe pionero se basa en un análisis de los datos emergentes de todos los procedimientos por cohecho transnacional que han sido concluidos desde 1999. El Informe de la OCDE sobre el cohecho transnacional “medirá”, para la primera vez, el delito de cohecho transnacional.
Well-timed and targeted innovation boosts productivity, increases economic growth and helps solve societal problems. But how can governments encourage more people to innovate more of the time? And how can government itself be more innovative?
The OECD Innovation Strategy provides a set of principles to spur innovation in people, firms and government. It takes an in-depth look at the scope of innovation and how it is changing, as well as where and how it is occurring, based on updated research and data.
Le présent Rapport annuel, le quatorzième du genre, décrit les activités entreprises afin de promouvoir le respect des Principes directeurs pendant la période de mise en œuvre entre juin 2013 et juin 2014. Cette période comprend le travail sur le devoir de diligence raisonnable dans les secteurs financiers et extractifs, ainsi que celui des chaînes d'approvisionnement agricoles, le renforcement de la coopération avec les pays non adhérents, les résultats du 2ème Forum mondial sur la conduite responsable des entreprises, et également les activités des Points de contact nationaux qui sont en charge de la promotion de l’observance des Principes directeurs dans les 46 pays adhérents.
The objective of the Policy Framework for Investment (PFI) is to mobilise private investment that supports steady economic growth and sustainable development, contributing to the economic and social well-being of people around the world. Drawing on international good practices, the PFI proposes guidance in policy fields critically important for improving the quality of a country’s enabling environment for investment. It encourages policy makers to ask appropriate questions about their economy, their institutions and their policy settings to identify priorities, to develop an effective set of policies and to evaluate progress. First developed in 2006, the PFI was updated in 2015 to take into account feedback from numerous users at country and regional levels, as well as changes in the global economic landscape.
L’objectif du Cadre d’action pour l’investissement est de mobiliser l’investissement privé en faveur de la croissance économique et du développement durable, contribuant ainsi au bien-être économique et social des personnes dans le monde. Se basant sur des bonnes pratiques internationales, le Cadre propose des lignes directrices dans des domaines de politiques d’une importance critique pour améliorer la qualité de l’environnement favorable à l’investissement. Il encourage les décisionnaires à poser des questions pertinentes par rapport à leur économie, leurs institutions et la définition de l’action publique en vue de développer un ensemble de politiques effectif, et pour évaluer les progrès réalisés. Le Cadre, initialement développé en 2006, a été mis à jour en 2015 pour tenir compte des retours des nombreux utilisateurs du Cadre aux niveaux national et régional, ainsi que des changements dans le paysage économique mondial.
This 2015 edition of the OECD Corporate Governance Factbook is an important complement to the recently revised Principles of Corporate Governance. The Factbook tracks how countries are actually implementing the Principles, which offer a comprehensive set of recommendations to policy makers to support sound corporate governance frameworks. Covering more than 40 jurisdictions, including OECD, G20 and Financial Stability Board members, the Corporate Governance Factbook is the most comprehensive catalogue of legal and regulatory frameworks, institutions and practices in place. It helps policy makers to understand and compare how corporate governance issues and challenges are being addressed in practice.
This report produced in co-operation with the International Energy Agency (IEA), the International Transport Forum (ITF) and the Nuclear Energy Agency (NEA) identifies the misalignments between climate change objectives and policy and regulatory frameworks across a range of policy domains (investment, taxation, innovation and skills, trade, and adaptation) and activities at the heart of climate policy (electricity, urban mobility and rural land use).
Outside of countries’ core climate policies, many of the regulatory features of today’s economies have been built around the availability of fossil fuels and without any regard for the greenhouse gas emissions stemming from human activities. This report makes a diagnosis of these contradictions and points to means of solving them to support a more effective transition of all countries to a low-carbon economy.
This new Outlook on finance and investment presents unique data, analysis and instruments, looking at what might affect and change, both favourably and unfavourably, tomorrow's world of business, finance and investment. Investment (including foreign direct investment), SME financing, pensions, insurance, corporate governance and competition are among the threads creating the narrative of today's environment and future expectations.
The perceived potential of clean energy to support employment in the post-crisis recovery context has led several OECD and emerging economies to design green industrial policies aimed at protecting domestic manufacturers, notably through local-content requirements (LCRs). These typically require solar or wind developers to source a specific share of jobs, components or costs locally. Such requirements have been designed or implemented in the solar- and wind-energy sectors in at least 21 countries, including 16 OECD countries and emerging economies, mostly since 2009.
Empirical evidence gathered in this report shows however that LCRs have actually hindered international investment across the solar PV and wind-energy value chains, by increasing the cost of inputs for downstream activities. This report also takes stock of other measures that can restrict international investment in solar PV and wind energy, such as trade remedies and technical barriers. This report provides policy makers with evidence-based analysis to guide their decisions in designing clean-energy support policies.
Since the return to democracy in 1999, Nigeria has embarked upon an ambitious reform programme towards greater economic openness and liberalisation. As a result, gross domestic product growth picked up consistently, never going below 5% since 2003. Nigeria has become a top recipient of foreign direct investment in Africa, with inflows having surpassed those to South Africa since 2009. The federal government’s Transformation Agenda recognises private sector development as the main engine for economic growth and includes bold investment reforms. Growth has however not yet been translated into inclusive development and the investment climate still suffers from severe challenges.
This Investment Policy Review examines Nigeria’s investment policies in light of the OECD Policy Framework for Investment (PFI), a tool to mobilise investment in support of economic growth and sustainable development. It provides an assessment and policy recommendations on different areas of the PFI: investment policy; investment promotion and facilitation; trade policy; infrastructure investment; competition; corporate governance and financial sector development. It also includes a special chapter analysing the PFI in Lagos State. The Review follows on the request addressed by the Minister of Industry, Trade and Investment of Nigeria to the OECD Secretary-General in December 2011. It has been prepared in close co-operation with the Federal Government of Nigeria and Lagos State Government.
This publication is a first response of the OECD to the issue of what role is, or can be, assigned to SOEs as part of national development strategies. The first part of the publication overviews the experiences of five countries (Brazil, China, India, Singapore and South Africa) with using SOEs, and other government-controlled entities as agents of their development strategies. The second part reviews the growing internationalisation of SOEs through foreign trade and investment. These show implications that the usefulness of SOEs in promoting economic development hinges on a number of factors, not least the level of economic development at the beginning of the process. Indeed, if the government’s ambition is to follow a development path already trod by numerous comparable nations it is relatively easy to hammer out a strategy and provide the SOEs with company-specific objectives toward the fulfilment of the strategy. However, experience also shows that some crucial conditions generally need to be met for such SOE-based strategies to be successful, taking into account the capacity of national bureaucracies and avoiding possible adverse impacts on international trade and investment.