Organon, CAF Partner to Boost Sustainable Financing
Organon, a renowned global healthcare company with a focus on women's health, and CAF, the Development Bank of Latin America, have recently signed a memorandum of understanding (MOU) aimed at advancing the United Nations Sustainable Development Goals.
The partnership seeks to create sustainable programmes that foster equity, health, and autonomy for girls and women in Latin America and the Caribbean. By addressing the existing gaps in women's health, this collaboration holds the potential to unlock the full potential of women and their respective economies.
The utilisation of sustainable financing presents a viable solution to overcome limitations posed by government budgets while simultaneously driving progress in women's health. Through health-focused social impact investments, also known as results-based financing, governments and investors can achieve measurable and significant outcomes while minimising risk. However, as of 2020, health-related investments only accounted for a mere 10% of the global social bond issuances, totalling 190 billion dollars.
Kevin Ali, the CEO of Organon, expressed the company's belief in the power of results-based financing to drive collective action towards advancing women's health goals. The collaboration with CAF, a first-of-its-kind endeavour, is specifically tailored to positively impact the health of women, subsequently benefiting a country's economy and overall development.
The collaboration between Organon and CAF will focus on prioritising and enhancing the health, equity, and autonomy of girls and women in Latin America and the Caribbean. It aims to provide women with the necessary resources and support to lead healthy and fulfilling lives while contributing to economic development. A report highlighted the potential addition of $28 trillion, or 26% of the global GDP, in 2025 if women were granted equal participation in the economy compared to men.
Sergio Diaz-Granados, the Executive President of CAF, emphasised the significance of the agreement with Organon in breaking the structural barriers that hinder women's access to health, financial, and non-financial services.
The partnership between the two entities will strive to generate a transformative model that brings together governments and global development banks, ultimately improving the lives of women and girls and fostering economic growth.
Organon, through data-driven insights, aims to demonstrate to governments the value of sustainable finance in health-related investments, offering benefits to both the population and the economy. The programme is already underway in eight countries, including Mexico, Colombia, Ecuador, Peru, Panama, Thailand, Kenya, and South Africa, with various stages of implementation.
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Source: Organon
