2021-09-07-世界经济论坛-Guidebook_to_Digital_Inclusion_Bond_Financing_27页_2mb

The EDISON Alliance Guidebook to Digital Inclusion Bond Financing Summary

Introduction

• Digital Inclusion Defined: Digital inclusion aims to ensure affordable participation in the digital economy, covering areas like health, finance, and education.
• Importance: It is linked to achieving the UN Sustainable Development Goals (SDGs), with EDISON Alliance targeting to improve one billion lives by 2025.
• Sustainable Financing: Green and social bond issuances are growing (projected at $650 billion in 2021). Sustainable finance innovations support digital inclusion by broadening funding sources and accelerating investment.
• Investor Motivation: Investors engage due to Environmental, Social, and Governance (ESG) trends, demand from new generations, and successful performance of ESG funds.

Digital Inclusion Financing Arrangements

• Types: Includes digital inclusion bonds and bank financing.
• Market Frameworks: Bonds must adhere to Social Bond Principles and Sustainability-Linked Bond Principles; loans follow Social Loan Principles and Sustainability-Linked Loan Principles.
• Key Considerations: Bonds are traded openly, while loans offer flexibility. External reviews and third-party verification are essential to avoid reputational risks.

Adopting a Digital Inclusion Financing Framework

• Framework Components:
  • Description of the entity’s approach to digital inclusion.
  • Outlining use-of-proceeds or KPIs.
  • Evaluating and selecting projects.
  • Managing proceeds.
  • Reporting obligations.
  • External reviews for transparency.

Examples of Projects and KPIs

• Broadband Access: Projects include building infrastructure; KPIs focus on speed, coverage, and affordability.
• Healthcare: Telemedicine initiatives; KPIs include healthcare access for underserved populations.
• Education: Digital learning tools; KPIs track student access to online resources.
• Financial Inclusion: KPIs measure access to financial services and digital banking.

Other Considerations

• Process: Bond issuances involve consultants, legal documents, and roadshows. Loan financing requires lender alignment and due diligence.
• Post-Issuance: Bonds require annual reports, while loans may demand regular compliance updates.
• External Reviews: Essential for credibility and avoiding "SDG-washing."

Conclusion

Digital inclusion financing provides innovative funding mechanisms to address global inequalities. Sustainable and social finance tools offer flexibility to fund projects in connectivity, healthcare, education, and financial inclusion. The guide emphasizes responsible execution to maintain market trust and societal impact.