FMO SDG targets
The United Nations Sustainable Development Goals (SDGs) and the Paris Climate Agreement have set joint public and corporate agendas aimed at ending extreme poverty, reducing inequality and tackling climate change. They recognize that people living in poverty tend to suffer most from climate change, so these challenges will need to be addressed in tandem. Development banks can make significant contributions to the SDGs and have a role in limiting temperature increases below 1.5 - 2.0 degrees Celsius.
By design, FMO addresses global issues every day. Public and private stakeholders share FMOs commitment to the SDGs and the Paris Climate Accord. They challenge FMO on how a development bank can set ambitious targets to address global issues and be transparent about outcomes achieved. FMO has set targets to generate impact and with the help of its partners and expert recommendations, such as those from the Task Force on Climate-related Financial Disclosures
and the EU High-level Group on Sustainable Finance, FMO refines ways to share progress.
Risks, opportunities and dilemmas
FMO updated its strategy in 2017 for the period up to 2025, in which FMO partners with others to invest in local prosperity focusing on projects that contribute to SDG 8 (Decent Work and Economic Growth), SDG 10 (Reduced Inequalities) and SDG 13 (Climate Action).