Invest NYC SDG Initiative

CSB Research

Invest NYC SDG Initiative

A two-year initiative to engage the private sector and drive financing toward creating a more sustainable, inclusive and resilient New York City

New York City is the first city in the United States to align its ambitious sustainability goals with those of the world. Our purpose is to support NYC in its work to achieve the UN Sustainable Development Goals (SDGs) — “localizing the SDGs.”

This project aims to take on six primary areas: sustainable mobility, the built environment, climate resilience, renewable energy, food and health, and waste. Ultimately, our goal is to identify the best private sector business and finance opportunities, where there are significant interested key players, realistic business incentives, alignment with government policy, support from the community, and significant impact in meeting the SDGs.

Through concrete demonstration projects in NYC, we also plan to identify any government policy, and/or finance innovation needed to be successful. With this work, we hope we will have created a road map for other cities, both in the U.S. and internationally, to achieve the SDGs with strong private sector support.

Support from NYC Mayor's Office

On January 24th, 2020 at City Hall, New York City Mayor Bill de Blasio and Dan Zarrilli, Chief Climate Policy Advisor and OneNYC Director, Office of the Mayor, committed city support for the Invest NYC SDG Initiative in a meeting with CSB Director Tensie Whelan and the Project Director Marianna Koval. The Mayor is supporting the Initiative as part of NYC’s global leadership to advance sustainability and the United Nations SDGs.

Meeting with Mayor de Blasio

Models for Financing the UN Sustainable Development Goals

This white paper was commissioned by the NYU Stern Center for Sustainable Business (CSB) to examine models for financing New York City’s sustainability goals as they are aligned with the UN Sustainable Development Goals, and inform its initiative, Invest NYC SDG. It is also intended to give cities everywhere an overview of various finance mechanisms, key players in financing, and analyses of key examples.

CSB is grateful for support from the following sponsors: ConEdison, Goldman Sachs, Pepsico, Sims Metal Management, and The New York Community Trust.

Read the White Paper

The Process

The knowledge, technology and financing resources to make significant progress towards the UN SDGs are available, but these resources are currently fragmented and siloed throughout a complex stakeholder ecosystem. As a consequence, collaboration can be difficult and impede SDG development.

Government Needs the Private Sector

New York City's long-term strategic plan and Green New Deal, OneNYC 2050, was created in alignment with the UN SDGs and is inspiring in its ambition. Systemic change, however, requires engagement and collaboration between the private and public sectors, at both regional and local government levels. The UN Business and Sustainable Development Commission's 2017 Better Business, Better World report identified $12 trillion in business opportunity with multi-stakeholder interaction.

The Private Sector Needs Government

Effective private sector investment in advancing the SDGs will mean understanding that the focus areas in this project are largely supported by public infrastructure, owned and operated by public entities. This infrastructure requires ongoing management and maintenance within changing physical and financial environments. Real constraints exist for governmental action, particularly as agencies are pushed to do more within the SDG framework. Government entities are subject to various types of compliance regulations that can make innovative policy development with the private sector difficult. But systemic policy and operational change can take place.

NYU Stern CSB Creates the Space and Supports the Conversation

The NYU Center for Sustainable Business intends to lead and create that space over the next eighteen months. As a major research university, trusted by public and private sector stakeholders, NYU brings a broad academic community with many departments already engaged in these SDG issues. Leveraging these resources, NYU Stern CSB will connect important stakeholders among the public sector, interest organizations, and the private sector (including both the corporate and finance sectors) to develop a shared vision of how private sector investment can be stimulated in partnership with the public and non-governmental sectors.

Focus Areas

Focus Area	Project Types
Sustainable Mobility	Public transportation, electric/hybrid, vehicles, fuel efficiency, and congestion management
Built Environment	Energy efficiency, smart buildings, and affordable housing
Waste	Circular solutions (for plastics, glass, metals, paper, etc.), combined food waste, and wastewater for energy production
Renewable Energy	Wind, solar, ground source heat, identifying renewable energy buyers
Food and Health	Food waste, food deserts, food transport, and urban farming
Climate Resilience	Prevent, prepare, respond, repair and retreat in public infrastructure and private real estate

Thank you to our Steering Committee

Lindsay Clinton, Executive Vice President of Industry and Innovation, NYC Economic Development Corporation
Lara Croushore, Chief of Staff, Climate Policy and Programs, NYC Office of the Mayor
Miles Draycott, Former Chief Risk Officer for the NYC Pension Funds
Jeff Gitterman, Co-Founder, Gitterman Wealth Management
Gretchen Johanns, General Group Counsel and Company Secretary, Sims Metal Management
Will Kennedy, Programme Officer, UN Office of Partnerships
Micah Kotch, Managing Director, Urban-X
Saadia Madsbjerg, Co-author of Making Money Moral and former Managing Director, The Rockefeller Foundation
Nilda Mesa, Director, Urban Sustainability and Equity Planning Program, Center for Sustainable Urban Development/Earth Institute, Columbia
Tom Outerbridge, Manager, Sims Metal Management
Kyung-Ah Park, Tamasek
Frances Resheske, Senior Vice President, Corporate Affairs, Con Ed
Aniket Shah, Senior Fellow at Columbia University Center for Sustainable Investment, Columbia, and former Head of Sustainable Investing, Oppenheimer
Kevin Smith, Vice President, Environmental Markets Group, Goldman Sachs
Allison Spector, Director, Sustainability, Nuveen
Isabel Verkes, Associate, Galileo Global Advisors
Tim Wilkins, Partner, Head of Sustainability, Freshfields Bruckhaus Deringer, LLP
John Williams, Chairman and CEO, Impact Infrastructure

PARTNERS OF THE INITATIVE

With support from our sponsors, CSB aims to help create a blueprint for private sector financing of the UN SDGs at a municipal level in New York City.

Center for Sustainable Business | Invest NYC SDG Initiative

CSB Research