Private Enterprises in a Green Recovery

HOSTED BY

Center for Development Economics and Policy

Deadline for submissions extended to August 10, 2021

Background

Over the last several decades, multilateral organizations, governments, and environmental organizations have been driving efforts for environmental sustainability, bringing in a high volume of private investment in standards and solutions. While these efforts have originated from developed economies, low- and middle-income countries are consolidating strong movements in the same direction. Today, more than ever, developing countries find themselves in need to adapt, with new commitments beyond the level of ambition previously achieved. The devastating impact of COVID-19, the urgency of the climate crisis as well as a growing acknowledgement of interrelationships between inclusion and sustainability highlighted the role the private sector plays in green recovery. For sustainable economic development to happen post-COVID-19, private firms need to align in that effort by engaging in greener and more sustainable production practices, by leading innovation in that space, whilst laying the groundwork for a lower carbon, more environmentally- friendly future.

As an increasing number of business are adapting, it is important to take stock of existing knowledge including its links to other development objectives relating to inclusion and jobs to better guide the recovery efforts from COVID-19. Some key research questions that have emerged in this area are: What does the current evidence suggest about the trade-off between inclusive growth and environmental sustainability? How can firms adapt to climate change risk and build resilience? What is the role of firms for future environmental sustainability? What type of actions has the private sector implemented to foster green growth and what do we know about its impacts? What prevents firms from adopting green technology and how can adoption be incentivized? How does green innovation influence firm performance and resilience?

The third Annual Conference of the Private Sector Development Research Network (PSDRN), organized jointly with the Center for Development Economics and Policy (CDEP) at Columbia University, offers an opportunity to bring together staff of Development Finance Institutions (DFIs), think-tanks, and donor agencies involved in private sector development with academics who study private firms and markets, from the fields of economics (such as industrial organization, international trade, and investment), finance, business, energy, climate change, and development studies. The conference aims to provide a forum to present and discuss research, data, analysis and evidence from DFIs, think-tanks, and academic institutions; to set the agenda for future research relevant to global development challenges and the work of DFIs; and to foster research collaboration between DFIs, think-tanks, and academic institutions. It is intended for researchers who are interested in influencing practice and who are curious about how practitioners perceive the problems that they face, and for practitioners who want to learn from researchers.

The event will focus primarily on the actions and behaviors of private firms, investors, and markets rather than on government policy. It is differentiated from other conferences because of the markets it focuses on low- and middle-income countries, but also the institutions it aims to engage in dialogue – DFIs, think-tanks, and universities with an active research agenda on private sector development. However, insights for policy and regulation of markets and firms are within the scope of the conference.