Uniting Economic Expertise
Collaborating across the UN System — leveraging its collective knowledge — can accelerate green recovery and green economic transformation. The United Nations development system (UNDS) reforms provide an opportunity to harness the structures in place to improve cohesion across the system, build regional strategies, improve decision-making, and bolster the capacity of UN Country Teams. PAGE is actively engaged in greater coordination and is using this approach to reinforce support to partner countries and to further drive innovative and unified change.
Green Transformation Economic Advisory Mechanism
PAGE, in close coordination with UNEN and its Chief Economist, established the Green Transformation Economic Advisory Mechanism (Green TEAM) in 2021 to provide deeper support on economics to partner countries — aiming to deliver transformative results for the whole economy and the economic recovery from impacts of COVID-19, paying special attention to shifting transformational levers, while keeping an eye on fairness and social justice.
This Mechanism brings together the UN’s internal economic experts — that is, economists from UN Resident Coordinator Offices (RCOs), PAGE agencies, UN Regional Economic Commissions, and the Office of the UN Chief Economist — to advise and inform PAGE work as a delivery mechanism for creating transformative impacts on national economies. In forming this Mechanism, PAGE is working to create a template for joint planning and delivery by both country resident and non-resident UN agencies – a component of the UN Reforms. In practice, this will also contribute to “greening” the UN System’s approach to socio-economic development. […]
PAGE, in close coordination with UNEN and its Chief Economist, established the Green Transformation Economic Advisory Mechanism (Green TEAM) in 2021 to provide deeper support on economics to partner countries — aiming to deliver transformative results for the whole economy and the economic recovery from impacts of COVID-19, paying special attention to shifting transformational levers, while keeping an eye on fairness and social justice.
This mechanism brings together the UN’s internal economic experts — that is, economists from UN Resident Coordinator Offices (RCOs), PAGE agencies, UN Regional Economic Commissions, and the Office of the UN Chief Economist — to advise and inform PAGE work as a delivery mechanism for creating transformative impacts on national economies. In forming this mechanism, PAGE is working to create a template for joint planning and delivery by both country resident and non-resident UN agencies – a component of the UN Reforms. In practice, this will also contribute to “greening” the UN System’s approach to socio-economic development.
A fully reformed UN System that now includes an economist in each UNRC Office, a UN Chief Economist in Headquarters, and increased capacity of UN agencies on macroeconomics offers a unique opportunity to bring together the specialized expertise on economic policy and provide a coherent package of support to PAGE partner countries.
The first meeting, held in June of 2021, brought together this team of economists from pilot countries (Argentina, Indonesia, Kazakhstan, Morocco and Thailand) to discuss three themes: economic policies for 1) greening public spending and fiscal space; 2) addressing poverty gaps and inequalities; and 3) supporting a Just Transition. The discussion also highlighted pivotal and available tools/initiatives (such as the Global Recovery Observatory, the SDG Push Initiative, and the Climate Action for Jobs Initiative), as well as opportunities, challenges, and potential entry points for future PAGE support to countries in these areas. The meeting paved way for a series of discussions held later in 2021 and strengthened collaboration and coordination among the PAGE teams and UN RCO economists.
In 2022, the mechanism is planned to gradually expand to five new countries based on lessons learned.
Targeted country-level support
In close coordination with the economists from UN RCOs and PAGE agencies, the Green TEAM began offering additional country-level support in 2021 to mainstream sustainability considerations to UN and national strategic plans, such as Common Country Analyses (CCAs) and Cooperation Frameworks. Four PAGE countries — Argentina, Indonesia, Morocco and Thailand — were selected as pilot countries for this support, with different thematic areas adjusted to the demand and needs of the countries.
Argentina
The Green Transformation Economic Advisory Mechanism will support the development of provincial blueprints to promote a more sustainable and inclusive productive model, based on the discussions, inputs and policy recommendations […]
The Green Transformation Economic Advisory Mechanism will support the development of provincial blueprints to promote a more sustainable and inclusive productive model, based on the discussions, inputs and policy recommendations stemming from five regional dialogues to be conducted by UNDP during the first half of 2022. The blueprints will focus on issues such as sustainable value chains, circular economy, green finance and sustainable and resilient cities. The Mechanism will also contribute to a study on the labour impact of green hydrogen, according to the ToR’s which are to be validated by the Economic and Social Council and the Office of the Presidency of the Nation. The updating of the Common Country Analysis (CCA) in 2022 will benefit from this study.
Indonesia
Support is provided to the development of an Economic Transformation Analysis as part of the 2022 update to the Common Country Analysis (CCA) for the next United Nations Sustainable Development Cooperation Framework […]
Support is provided to the development of an Economic Transformation Analysis as part of the 2022 update to the Common Country Analysis (CCA) for the next United Nations Sustainable Development Cooperation Framework (UNSDCF) for Indonesia. The analysis will take stock of key policy areas for fundamental changes in the economy of Indonesia that will raise the overall productivity level while ensuring adequate quantity and quality of employment, equitable distribution of income and wealth, access to quality public services and protection of the environment.
Morocco
The Green Transformation Economic Advisory Mechanism plays an active role in the establishment of the new United Nations Sustainable Development Cooperation Framework (UNSDCF) […]
The Green Transformation Economic Advisory Mechanism plays an active role in the establishment of the new United Nations Sustainable Development Cooperation Framework (UNSDCF) with Morocco, namely on its first axis: Inclusive Economic Transformation and Sustainability. This strategic axis reflects the need to combine the imperatives of environmental sustainability, economic growth and social inclusiveness. Priority areas within this axis include improving business competitiveness, supporting entrepreneurship and the ecological transition through green and circular economy, and investing in the development of scientific, technical and professional skills. The Mechanism will provide key experience, guidance and expertise from the interagency team in Morocco on the thematic areas of sustainable development and the environment during the drafting process of the Cooperation Framework on Sustainable Development with Morocco.
Thailand
The Green Transformation Economic Advisory Mechanism has provided overall guidance and peer-review to the Green Economy Policy Stocktaking Study, which will act as a foundation for the PAGE programme in Thailand […]
The Green Transformation Economic Advisory Mechanism has provided overall guidance and peer-review to the Green Economy Policy Stocktaking Study, which will act as a foundation for the PAGE programme in Thailand through the identification of key entry points for green economic transformation in the country. As a main recommendation for the Mechanism, a chapter on sustainable finance has been added to the Study, an area identified as key by the UN Resident Coordinator’s Office in Thailand. The Mechanism is currently mobilizing the different actors working on sustainable finance in Thailand to coordinate efforts and increase impacts including the UNEP Finance Initiative (UNEP FI), the Global Recovery Observatory, UNDP Finance Sector Hub and UN ESCAP.
The UN Economist Network
Employing its expertise and experience in the field of green economic transformation, PAGE is contributing to the work of the UN Economist Network. The Network is comprised of economists from the UN system, including country economists working in UN RCOs. It provides, inter alia, research and policy analysis on key current and emerging economic, financial, social and environmental issues aiming to further the 2030 Agenda. In 2021, PAGE provided guidance on green economy-related topics for thematic briefs and reports produced by the UN Economist Network, including the thematic brief on Innovative Finance and the upcoming report New Economics for Sustainable Development.
Dialogue Series “One UN for Accelerating a Fair and Green Economic Transformation”
In 2021, the Green TEAM held two dialogues as part of its series “One UN for Accelerating a Fair and Green Economic Transformation”, creating a platform for economists from PAGE agencies and RCOs in PAGE countries to exchange ideas and share knowledge and best practices on accelerating fair and green economic transformations.
One UN for Accelerating a Fair and Green Economic Transformation PDF
The dialogue series will continue to serve as an open space to identify opportunities and challenges as well as potential methods for moving action on inclusive and sustainable recovery options. The series will also inform how PAGE can better support its partner countries in their respective green economy transitions beyond the crisis as well as further inspire a green transition globally. They are planned to occur quarterly, acting as an outlet to deepen the engagement between PAGE and UN Economists.
Broadening UN Engagement for Enhanced Delivery
Outside of the Dialogue Series, PAGE has also been engaging with economists from the UN RCOs for to contribute to PAGE’s Inclusive Green Recovery support. Bringing in country-specific knowledge and regional context, economists from the UN RCOs work together with PAGE country teams and PAGE agencies to assist in the development of country work plans and activities that are targeted towards greening the economic recovery from COVID-19 — linking to countries’ overall goals for sustainable and inclusive development.
In late 2021, PAGE also began conceptualizing ways to support UN Country Teams in a way that could strengthen the capacity of UN RCOs and UNCTs to inform and influence policy developments and public debates at strategic moments. It was in this vein that the Green Transformation Economic Advisory Mechanism was identified as a model to support UNCTs in the report “Beyond Opportunism: The UN Development System’s Response to the Triple Planetary Crisis” by the United Nations University.
Strengthening collaboration with the United Nations Economic and Social Commission for Asia and the Pacific
PAGE is collaborating with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) on macroeconomic policy and sustainable finance in PAGE countries in the Asia region. In this effort […]
PAGE is collaborating with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) on macroeconomic policy and sustainable finance in PAGE countries in the Asia region. In this effort PAGE is also identifying opportunities for joint delivery with the UNEP Finance Initiative (FI), the UNDP Sustainable Finance Hub (SFH), and the Global Recovery Observatory (GRO). Economists from the UN Resident Coordinator’s Offices have joined this endeavour. This collaboration aims at coordinating efforts on National Development, Economic and Planning Policies; and Catalysing Finance for the IGE Transition.
Building on a comprehensive mapping of activities on macroeconomic policy and sustainable finance for the participating initiatives, opportunities for collaboration to leverage synergies across multiple processes have been identified to be implemented in 2022 in Indonesia, Kazakhstan, and Thailand as well as at the regional level.
On National Development, Economic and Planning Policies, in Indonesia a collaboration is envisaged between PAGE, UN ESCAP and the UN RCO. The macroeconomic modelling for sustainable development planned for Indonesia by ESCAP will directly inform an economic transformation analysis to be conducted by the UN RCO of Indonesia with PAGE support. This analysis is part of the Common Country Analysis (CCA).
While in Thailand there is a potential collaboration between PAGE, ESCAP and the UN RCO on reinforcing IGE measures in national development and economic planning. Building on the PAGE Green Economy Stocktaking Study, ESCAP macroeconomic modelling capacity could support Thailand’s Low carbon economy in the areas of carbon taxation, carbon market, and the Biomass-Circular-Green Economy model. These activities will inform PAGE and UN RCO’s priorities for the upcoming years.
On Catalysing Finance for the IGE Transition, opportunities have been identified for Indonesia, Kazakhstan, and Thailand. ESCAP and the UNDP SFH are very active in supporting these countries in developing and implementing Integrated National Financing Frameworks (INFFs). UNEP FI is already working with the banking and insurance sectors within the frameworks on Principles for Sustainable Banking, Principles for Sustainable Insurance and Principles for Responsible Investment and the Net-Zero Banking Alliance. GRO is developing fiscal policy decision-making support tools for analyzing and enabling alignment of national and/or sub-national budget with socio-economic and environmental objectives. PAGE is serving as a platform for bringing together all these initiatives working on sustainable finance for leveraging joint collaboration opportunities at regional and country levels.
Finally, PAGE, ESCAP, UNEP FI and the GRO are exploring joint delivery activities at regional level to promote peer-to-peer learning through workshops and training programmes in these areas. The Recent creation of a Consultative Group on “Financing Strategies for the SDGs” by ESCAP Member States is a unique opportunity to establish connections and joint efforts to reach out and support more countries in the region.
Support to G20 Indonesia Presidency
To support developing countries with recovery from the COVID-19 pandemic and ensure resilience to withstand future crises, the Indonesian G20 Development Working Group (DWG) identified blue economy and green economy through low carbon development as part of its main priority areas. Through the Ministry of National Development Planning (BAPPENAS), the Green Transformation Economic Advisory Mechanism will be providing the expertise acquired from supporting 20 emerging and developing countries in green economy, low carbon development, and circular and blue economy to inform the development of the “G20 Roadmap for Stronger Recovery and Resilience in Developing Countries, LDCs and SIDS”. PAGE will also leverage the expertise of its 5 PAGE UN Agencies to offer integrated and holistic support in this area.