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Connecting Smart and Sustainable Growth through Smart Specialisation

ris3 and sustainable growthAccording to one of the key points and recommendations on the practical guide for ERDF managing authorities, on how to connect Smart and Sustainable Growth through Smart Specialisation, they are encouraged to place sustainable growth at the core of their RIS3. they should assess the regional innovation potential and consider investing in the areas of eco-innovation, ecosystem services and sustainable energy, taking into account their specific strengths and weaknesses.

In promoting sustainable growth objectives under the RIS3, regions and member States should: actively seek synergies with existing national and European initiatives; and actively exploit the opportunities for cross-regional and international cooperation

In integrating ecosystem services into RIS3, it is important to take account of sustainable solutions, innovative methods and entrepreneurial ideas that rely on renewable, rather than exhaustible, resources that are avail- able in local ecosystems. regions and members States should make the best use of bio-economy principles in promoting local sustain- able growth.

The “Progress report on approaches to mobilising institutional investment for green infrastructure”, published on September 2016, by OECD updates analysis in the OECD’s 2015 Report for G20 Finance Ministers and Central Bank Governors “Mapping Channels to Mobilise Institutional Investment in Sustainable Energy” (OECD, 2015a). It is also provided as a contribution to the “Greening Institutional Investors” sub – group of the G20 Green Finance Study Group, co – chaired by the People’s Bank of China and the Bank of England.

The introduction provides the necessary context for the report and is followed by a review of institutional investment in green infrastructure (focused on renewable energy) that is occurring “organically”, where government sets an “investment – grade” enabling environment but does not deploy any further intervention to mobilise institutional investors. A “stock – taking” section follows, focused on institutional investment in green infrastructure where the public or official sector has deployed a “risk mitigant” or “transaction enabler” to open up the supply of investment. This section is accompanied by a research database to be made available on the OECD website. A summary section with implications for further research concludes the main body of the report. Finally, a fifth, self – contained section of the report, prepared by the World Bank Group as an input to the report, is provided in Annex A. This section provides a preliminary description of the role of sovereign wealth funds (SWFs) and strategic investment funds (SIFs) in green finance.

Related documents

You may download the related documents by clicking on the following images:

ris3 guide sustainable growth ec oecd sustainable development report

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