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Part 2: Addressing Environmental Issues under the UK Prosperity Fund through Social Capital and Stakeholder Engagement

In this article, the Prosperity Fund Team at IMC Worldwide sets out the pivotal importance of addressing environmental issues through social capital and stakeholder engagement.

Thursday 11 April 2019, Charlotte Watts

Better environmental protection underpins achievement of all the other global development goals so it is key to urbanisation plans. This means considering the needs of not only the wealthy, but also those of the urban poor and other vulnerable groups who will be most affected by environmental degradation.

The Sustainable Development Goals 'Wedding Cake'
The Sustainable Development Goals ‘Wedding Cake’

Social inclusion is core to the primary purpose of Prosperity Fund. Programmes acknowledge the importance of the existing social institutions and use these to feed into capacity building programmes for local government agencies.

The strong focus on stakeholder engagement in all Prosperity Fund programmes promotes interaction with all those involved in the decision-making process. However, programmes need to incorporate inputs from both high-level decision makers and local social institutions to help manage environmental constraints. Business environment and financial services programmes under the Prosperity Fund can support the creation of investment groups and microfinance systems which improve social capital accumulation for local communities. They do this by using innovative technologies to deliver financial services through FinTech programmes.

Integrated policies to improve the lives of both urban and rural dwellers are needed, strengthening the linkages between urban and rural areas and building on their existing economic, social and environmental ties
United Nations, 2018

By improving the social capital of communities in middle-income countries, the Prosperity Fund can help to insure against future environmental risks. In addition, a stronger economy in a middle-income country can raise the quality of life, economy and social standards in neighbouring low-income countries.

The third and final part of the Prosperity Fund series will be focusing on innovation and sustainable urbanisation. 

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