By Hannah Dadzie
UK attends the launch of a new quality certification scheme at OECD Headquarters in Paris to address the infrastructure gap in emerging markets.
On Tuesday 9th April 2024, Australia, Japan, Spain, Switzerland, the United Kingdom, and the United States, jointly announced the establishment of the Blue Dot Network at the Organisation for Economic Co-Operation and Development (OECD). The Blue Dot Network is an initiative to certify infrastructure projects that meet or exceed established standards of quality and sustainability.
The Secretariat will oversee the Blue Dot Network voluntary framework to certify infrastructure projects that meet internationally recognized standards for financial transparency, economic, environmental and social sustainability, climate resilience, and inclusiveness.
This initiative was created to unlock additional private-sector financing, recognizing that quality infrastructure is a critical driver of sustainable economic growth and prosperity.
The OECD and Blue Dot Network steering committee comprising Australia, Japan, Spain, Switzerland, the United Kingdom, and the United States, officially launched the Blue Dot Network at the OECD Headquarters in Paris, France, and welcomed that Türkiye accepted the invitation to join the steering committee.
On April 8, CEOs and senior government leaders demonstrated their support by participating in a leaders’ dialogue to discuss how the Blue Dot Network can attract private sector investment into emerging markets to bridge the global infrastructure investment gap. Government officials and members of the Blue Dot Network’s Executive Consultation Group, representing over 200 organisations from the private sector, civil society, and academia attended.
For further information, see https://www.bluedot-network.org/.
Background
Australia, Japan and the United States are the founding members of the Blue Dot Network. The United Kingdom was the first country to join after the initiative was created in 2019. Spain, Switzerland and Türkiye have also since joined. Together, these seven countries are the ‘governing members’. UK businesses and financial institutions are part of the Blue Dot Network’s executive committee and provide technical expertise. Any interested organisation can join.
