Perhaps as an early Christmas gift to the international community rooting for a cross-sectoral solution on combatting climate change, HSBC has announced its commitment to establish the world’s first bond. As explained by HSBC themselves, the bond is closely linked to the UN’s Sustainable Development Goals (SDG). Following seven selected SDG targets, HSBC will fund 1 billion USD through the bond and thus financially support projects set out to increase the sustainable well-being of communities and the environment.

ISET-PI is working on a Regulatory Impact Assessment (RIA) on the Draft Law of Georgia on Biodiversity. This project will emphasize the consideration of Sustainable Development Goals in the RIA approach.

After the Rose Revolution, in the name of of economic growth, the Georgian government set aside environmental issues and focused on a quick economic recovery. This is understandable, as the Georgian economy was still recovering from the collapse of the early 90’s, and the pressure to accelerate the process was high. At that time, the existing environmental regulations were perceived as an additional constraint to faster growth, and as potentially fertile ground for corruption.

On January 26, 2017, the International Chamber of Commerce (ICC) conducted its 13th Consultative Board Meeting, attended by the board members, Commission Chairs, ambassadors, bankers, and senior representatives of Georgian businesses. The Georgian government was represented by Mr. Giorgi Gakharia, the Minister of the Economy and Sustainable Development, and his deputy, Ms. Keti Bochorishvili.

An ISET-PI team led by EEPRC’s Head Norberto Pignatti is conducting a Regulatory Impact Assessment (RIA) of the pension reform currently discussed in Georgia. The government of Georgia is considering to introduce a reform of the Pension system. The process is led by the Ministry of Economy and Sustainable Development (MoESD).