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Our findings highlight the asymmetric impact of climate risks on financing costs, particularly for high-risk countries, and emphasize the critical role of investments in climate preparedness, resilient infrastructure, and economic diversification.
Smart public procurement refers to making optimal decisions to minimize waste and enhance the quality, efficiency and sustainability of public spending when purchasing and contracting goods, works and services. As a result, addressing passive waste through capacity-building measures can generate large savings for governments.
There is no turning back now, the ministries of economy and finance are at the heart of climate action. What are finance ministries doing and discussing to advance green fiscal management? 2- Sovereign thematic issuances are increasingly relevant Sustainable debt instruments are becoming increasingly relevant in the capital markets.
The deployment of CGIT, financed by USAID, is enabling Armenia to mitigate risks by mapping their continuity goals to an appropriate technology path and ensuring foundational policies are in place to support their digital transformation goals. “As
We want to enable one billion people to live in more equitable, prosperous and sustainable communities by 2030 by improving US$2 trillion in public procurement spending. We want to unlock its power to improve economic inclusion and sustainability, rebuild integrity and trust, and deliver the quality public services that we all deserve.
The government took three key steps: i) careful planning for the green transition; ii) implementing green public procurement (GPP) in practice with a focus on building the capacity of public buyers; and iii) learning powered by data-driven monitoring with a public dashboard. We now have to help our business adapt and innovate.
All countries in the region have signed the Paris Agreement, which aims to increase countries’ resilience and adaptive capacity, as well as stabilize global warming below 2°C and as close to 1.5°C This objective implies two major challenges for finance ministries. C as possible.
For instance, purchase orders could be directly amended by a supplier to reflect his stock or delivery capacity. For example, you could check the sustainability score of a supplier through Ecovadis before ordering a certain product. Now, you need to build your business case to get that budget from Finance.
The framework aims to leverage digital technologies to enhance public service delivery, promote inclusivity, and achieve sustainable development goals. This framework emphasizes an ecosystem approach, focusing on good governance, inclusivity, and security.
Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability. Financing, hedging, and currency plays. The first two signs dealt with goal alignment and understanding internal customer needs. alternatives.
Public procurement, one-third of spending or more of every country, is critical to economic development and sustainability. Sustainability needs to be seen as a wider issue, not just green purchasing and the environment, but also supporting women businesses and local economic development.
He has been in numerous leadership roles in the private sector for over 25 years, spanning accounting, finance, technology & operations management spheres. As CFO, he looks forward to working to achieve the Secretary’s vision and the Departmental mission of creating strong, sustainable, and inclusive communities.
Fiscal rules have become a common policy tool to promote the sustainability of public finances, as the number of countries with at least one fiscal rule has grown from ten in 1991 to more than 100 by 2021.
To help government further leverage AI for macro-fiscal policymaking, the IDB launched in 2022 FISLAC(Fiscal Sustainability for Latin American and Caribbean Countries). One of the key hurdles to the optimal use of AI in the public sector is the need for capacity building across government institutions. Learn more about FISLAC.
The indicators will be able to flag any issue from these capacity challenges, inadequate documentation, or potential fraud and corruption. Our Project Office’s other role is to engage key users and stakeholders in engaging with the ecosystem and build capacities of communities and municipalities.
A good example of this is the use of public procurement to contribute to the promotion of sustainability objectives, even to the detriment of traditional aims such as ensuring the best value for money in a strict, financial sense.
Article 6 deals with general technical assistance and “capacity building”, such as advice on dispute prevention, trainings, seminars, exchange of experience and serving as a repository of information. With public finances under strain, many governments may have to prioritise. Reliance on donations raises several issues. 43 and 85).
Ikea is a leader with plans to ensure a sustainable supply chain. It frees capacity for being more strategic, improves decision-making, and in some cases can drive meaningful social benefit. . This benefits the public, the hospital’s finances and its staff. . This is a shame not just for the social benefit. Take the U.S.
In the past, regions that were slow to ask for assistance were left behind, and authorities lacked the capacity to understand if spending meets the needs of the most vulnerable, or whether it is helping build resilience to cope with future floods. Over the last five years, they turned their attention to the entire cycle of public spending.
This is, in the words of Italy’s diplomacy , “to have secure, stable and predictable supplies at competitive prices for households and businesses, without failing to meet the binding commitment to long-term sustainability…” under the Paris Agreement.
She examined in what manner small states have been (i) accessing courts to get them to address climate change in international law; (ii) shaping the legal landscape and the law in so doing; and (iii) considering international law’s capacity to provide actual legal remedies.
Department of State), Margie-Lys Jaime (Legal Adviser, Office of Investment Arbitration, Ministry of Economy and Finance, Republic of Panama), Ladan Mehranvar (Senior Legal Researcher, Columbia Center on Sustainable Investment (“CCSI”)) and Marie-Claire Argac (Partner, Curtis, Mallet-Prevost, Colt & Mosle LLP). Mr. Bigge and Ms.
Public sector procurement incorporates social value concerns like environmental sustainability and the encouragement of local economic growth in addition to guaranteeing the best outcomes in terms of products and services. Social Value In the public sector, the MEAT (Most Economically Advantageous Tender) evaluation method is commonly used.
Senior tax policymakers from across the region attended the event organized by the IDB, the World Bank and the G-20 Brazilian presidency, represented during the event by Ministry of Finance and Receita Federal do Brasil (RFB), the country’s federal tax agency.
With establishing end-to-end process ownership at Procurement and structuring cross-functional collaboration between Businesses, Procurement, and Finance, it is also time to revitalize your performance measures. Most KPIs, that are used to monitor P2P performance, are typically not key by nature and encourage functional sub-optimization.
There already are use cases demonstrating hundreds of hours saved across multiple disciplines, from finance to human resources to IT. In this capacity, he served as the Communication Platoon Commander, contributing significantly to exercises and deployments throughout the Asia-Pacific Region. DLA is the U.S.
Most notable in Pillar 1 is the generation of an income transfer mechanism which meets the progressive criteria outlined in the United Nations Sustainable Development Goals. New features of the proposal It is important to acknowledge that is a very innovative proposal. Another significant measure is the application of unitary taxation, i.
This risk is particularly acute for high-risk applications of [algorithmic systems], for example where an [algorithmic system] determines a person's access to employment or housing or where the application is in a highly regulated sector such as finance ’ (at 10).
As financing and cash flow is uncertain, cash is once again king and Procurement and AP leaders are being asked to forecast and preserve cash wherever possible. To effectively address the key goals in an effective, sustainable way requires a collaborative approach – thinking of customers and suppliers as partners.
40] It is also worth noting that the Government can materially breach the contract by failing to make contract financing payments (e.g., Housing Finance Agency, 745 F.3d [e]nsuring timely payments and payment of interest penalties where required. [15] 39] And, in Consumers Oil Co., progress payments). [41] 3d 1379, 1381 (Fed.
As we bid farewell to Tom in his professional capacity, the Coalition extends our heartfelt gratitude for his years of service and wish him all the best in his well-deserved retirement. The rule aligns the Defense Federal Acquisition Regulation Supplement with the Federal Acquisition Regulation Sustainable Procurement Rule.
Within the finance sector, there exist AI-powered tools (e.g., While AI is known for its capacity to analyze vast amounts of data, it currently lacks the capability to fully grasp the intricacies and nuances of these contexts in the way that a human expert can. Comparables.AI
Discussions took place regarding the need to increase Congressional capacity. Increase capacity of current Congressional committees, as they already have subject-matter expertise. The five witnesses agreed that Congress’ current structure is not set up to review the rules coming out of the Executive branch.
GSA Announces “Green Proving Ground” Emerging Technologies The General Services Administration’s (GSA) Green Proving Ground (GPG) Program, in collaboration with the Department of Energy (DoE), announced its selection of 17 emerging sustainable technologies for real-world evaluation and testing. GSA plans to invest $9.6
Open Contracting Partnership has supported the evolution of this ecosystem by providing advice, funding, and technical assistance to develop data tools, build capacity among government and non-government stakeholders, and foster cooperation among civil society, business and government representatives.
Treasury bond markets play a pivotal role in the economic development and fiscal management of fragile countries, as they allow governments to secure funds from both the public and institutional investors, reducing the pressure on governments to print out money to finance their budgets. of GDP from 0.3% percent of GDP in 2023 from 2.9
Latin America and the Caribbean are at a crossroads of environmental sustainability and inclusive development; and public governance plays a critical role in a fair green transition, especially given existing inequalities, limited fiscal capacity, and deteriorating public trust. in OECD countries. percentage points (p.p.),
The EO also requires the Secretary of Veterans Affairs to host two 3-month nationwide AI Tech Sprint competitions to improve the quality of veterans’ health care and support small businesses’ innovative capacity. The EO seeks to promote AI innovation and combat risks to developers. To do so, the Secretary of Commerce and U.S.
For this reason, drawing on their experience across industry sectors, like healthcare, banking, finance, and energy, they understand that they must invest in security, and they do so. Commercial software firms recognize that security failure risks reputational harm which would translate into the loss of business. billion in funding.
Early findings suggest that with the introduction of Green Public Finance Management (GPFM) systems in the state, more environmentally friendly spending tripled in the first year and quadrupled in the second year. disaster risk reduction, agricultural innovation), and environmental sustainability (e.g.
236 ), along with its budget and financing considerations. UNCITRAL Working Group III and the Advisory Centre on International Investment Dispute Resolution , analyzed key outstanding elements of the draft statute, including the Advisory Centres objective and scope of activities, governance structure, financing mechanisms, and legal status.
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