FIDIC welcomes multilateral development banks’ sustainable procurement commitment

24 Oct 2023

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FIDIC has backed an international commitment to sustainable procurement after the World Bank joined 11 other multilateral development banks (MDBs) in declaring their shared 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. It’s a significant move as governments spend $13 trillion annually, around 15% of global GDP, which highlights the important role public procurement will play in achieving global sustainability goals.

Commenting on the signing of a joint statement on sustainable procurement initiatives by the heads of procurement (HoP) network of the MDBs, FIDIC CEO Dr Nelson Ogunshakin said: “FIDIC applauds this welcome development from the MDBs, who occupy an influential position when it comes to meeting the world’s sustainability goals and net zero targets.

“Procurement can be an important catalyst for change in the fight against climate change and it’s great to see that the MDBs collectively intend to work with their clients to develop and implement the policies, plans and actions needed to drive the global sustainable procurement transition, which should lead to a more inclusive, resource efficient and greener world.”

Under the terms of the joint statement on sustainable procurement, the 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 decarbonising 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 harmonisation; training and development within the MDB community and for partner countries and monitoring and communicating impact.

Click here to read the MDBs’ joint statement on sustainable procurement initiatives.

 

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