Partnerships for the Goals

As the complexity of transnational corporations (TNCs) grew in the post-war period, their effective degree of disclosure diverged from what is standardly expected of single-country firms. Country-by-country reporting is the key proposal to reestablish appropriate TNC disclosure, and ultimately TNC accountability – and as such, has been consistently resisted by many TNCs, professional services firms and some key headquarters countries in the Organisation for Economic Cooperation and Development. This paper charts two main waves of pressure for progress. The first, most visible from the late 1960s to the early 1980s, reflects the claims of the New International Economic Order and the rise of the G77 group of countries, while the second saw international civil society take a leading role. The current phase sees these two impulses combine and may finally deliver meaningful progress. The paper addresses both the political underpinnings and the developing technical component to the claims for deeper TNC disclosure, ultimately shaped into the pursuit of an international standard for public, country-by-country reporting – and the resistance to it. The paper also provides illustrative results based on the existing country-by-country reporting data for banks. It concludes with a discussion of the prospects for country-by-country reporting.

The global economy is in the midst of a severe crisis caused by the COVID-19 pandemic. The immediate impact on international production is dramatic. Projections in the World Investment Report 2020 (WIR2020) show a decline in FDI of up to 40 per cent this year, with no recovery expected until 2022 (Figure 1).

Foreign direct investment (FDI) flows are frequently credited with a wide range of benefits for recipient economies. This research investigates the impact mechanics of FDI by mapping the extent to which firms are owned by foreigners against their performance. Firms in both developed and developing countries are included in the study and the performance indicators used are growth in sales, employment and labour productivity. Based on data from more than 80,000 firms during the period 2010 to 2019, this research is unique because it compares the performance of foreign-owned and domestic firms of different sizes. While the preliminary results show foreign ownership overall does give firms an edge on performance, there is no consistent evidence that this is so by firm size. However, across all developing regions, the study consistently finds that foreign ownership has a positive impact on the sales and productivity growth of micro-size firms. This calls for more research on and policy experimentation with outward-oriented and innovative start-ups.

For too long we have been told that conserving the environment comes at the expense of economic opportunities for people. But the world’s new commitment to sustainable development clearly shows that humanity is waking up to the fact that social, economic and environmental agendas are intrinsically linked.

What can be done to introduce innovation and sustainability in the water and sanitation sectors in the Middle East? How can one give agency to younger, newer voices and visions in these sectors?

We have reached an essential turning point in our journey to save the planet as we know it. More than 175 global leaders have now signed onto the historic climate agreement reached in Paris last December. Having been at the UN for the signing event on April 22nd, I am filled with hope – but I’m also fighting a growing sense of dread.

Kenya's Chyulu Hills host not just rich wildlife and beautiful landscapes but a groundbreaking partnership to conserve biodiversity and combat climate change between its people and the Maasai Wilderness Conservation Trust.

In September 2015, the United Nations General Assembly adopted the resolution “Transforming our World: the 2030 Agenda for Sustainable Development.”1 This new development agenda propagates an all-of-society engagement and partnership as a main driver for transformation. It is a collective action plan that unites State and non-State actors, whereby adequate opportunity and space is given to all major groups in society. While youth is considered as a vulnerable group that warrants specific attention (para. 23), young people are also viewed as important actors who should be educated and enabled to reach their full potential (para. 25; SDG 4, targets 4.4 and 4.6). Specific attention is given to the promotion of youth employment for inclusive and sustainable economic growth (para. 27; SDG 8, targets 8.6 and 8b) and to developing the capacity of youth to effectively contribute to climate changerelated planning and management (SDG 13, target 13.b).

Climate change is the greatest threat facing our planet. The leaders of the world’s great cities recognize that fact and are taking urgent action. But mayors need strong allies to deliver the transformations needed to create sustainable, green cities of the future. There is no greater partner for our campaign to save the planet than the Global Environment Facility.

The Darfur region of Sudan is no stranger to violence. More than a decade of conflict has driven millions of people from their homes, and many have settled in North Darfur’s Wadi El Ku, one of the region’s largest seasonal riverbeds.

The Global Environment Facility is a knowledge-based organization in which evaluation is central to accountability, results and learning. For it to be truly useful, it must respond to changes both in the external landscape in which the Facility operates and in internal modus operandi. During the Facility’s 7th Replenishment process, the Independent Evaluation Office is completing its sixth Comprehensive Evaluation under the theme ‘the Global Environment Facility in the Changing Landscape of Environmental Finance’. All such replenishments have been accompanied by an overall performance study and, as previously, the purpose of the Comprehensive Evaluation is to provide solid evaluative evidence to inform the negotiations, gauging the results and impact of the Facility’s work through a wide mix of methodologies. The Office is pioneering state-of-the-art geospatial methods that allow us to measure environmental change over longer periods of time, both before and after project implementation, and to compare project sites with matched control locations.

Water plays a crucial role in the development of mankind. From time immemorial people have settled near water, which has always been a source of life and well-being. Humanity has praised and glorified it as a sacred resource for thousands of years.

There is no doubt that science is increasingly expanding our knowledge of the problem of environmental degradation (including our role in it) and the extent to which it affects our ability to continually improve our living conditions.

Sustainable development is thirty years old. It was born in 1987 with the release of the “Our Common Future” report, which declared: “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”

An ecosystem is normally defined as a complex of all living (plants, animals, microorganisms) and non-living (soil, climate) components interacting as a functional unit in a certain area. Each contributes to maintaining the overall ecosystem’s health and productivity. Ecosystems such as forests, wetlands and grasslands play an important role in the global water cycle. Recognizing this role and the interactions between the two is critical to managing water resources sustainably.

Inna Modja is promoting the building of a wall across a continent, one that is designed to provide hope and bring people together. The Malian singer is starring in a documentary on the 8,000-kilometre Great Green Wall of trees and vegetation now being established across the width of Africa to combat desertification and restore land. She calls it a “world wonder” and says it has “great symbolism” that “extends far beyond the African continent”.

Shifting our priorities from economic growth to sustainable development is the political imperative of our time. To do so, leaders must deliver on water security, ensuring that water becomes an enabler, rather than a major barrier to sustainable growth. What is it going to take?

Fresh water is a key resource for human health, prosperity and security. It is essential for poverty eradication, gender equality, food security and the preservation of ecosystems. Yet water resources are under increasingly severe pressure from global drivers such as population growth, climate variability and global change. Although constituting a finite resource, water is being stretched to serve more and more people and usages.

At the start of the seventy-second session of the General Assembly of the United Nations I emphasized our common goal: peace and a decent life for all people on a sustainable planet. Many leaders echoed this overarching priority at the general debate and beyond. One very important element of this is universal access to water and sanitation. At a most basic level, human beings cannot survive without water. Equally important is sanitation, a lack of which negatively affects our quality of life and claims the lives of millions each year.

The use of tax havens by multinationals is a pervasive activity in international business. However, we know little about the complementary relationship between tax haven use and foreign direct investment (FDI) in the developing world. Drawing on internalization theory, we develop a conceptual framework that explores this relationship and allows us to contribute to the literature on the determinants of tax haven use by developed-country multinationals. Using a large, firm-level data set, we test the model and find a strong positive association between tax haven use and FDI into countries characterized by low economic development and extreme levels of capital flight. This paper contributes to the literature by adding an important dimension to our understanding of the motives for which MNEs invest in tax havens and has important policy implications at both the domestic and the international level.