The United States welcomed the inaugural meeting of the Blue Dot Network Executive Consultation Group (ECG) held on June 7, 2021. The OECD, through technical support funded by the United States and Australia, organized the ECG to convene the private sector, civil society, and academia to advise on the design and implementation of the Blue Dot Network infrastructure initiative.
The Blue Dot Network, announced by the United States, Australia, and Japan in November 2019, is being developed to become a certification mechanism to distinguish quality infrastructure projects that demonstrate and uphold robust standards for development. The Blue Dot Network will be a globally recognized symbol of market-driven, transparent, and sustainable infrastructure projects.
More than 180 representatives from the ECG, comprising leading financiers, infrastructure developers, construction companies, and civil society organizations from around the world, gathered virtually for a strategic dialogue on catalyzing investment into quality infrastructure. Participants exchanged views and ideas on how the Blue Dot Network initiative could help close the global infrastructure gap and create high standard, sustainable infrastructure in emerging markets.
The ECG meeting is part of a broader OECD effort to support development of the Blue Dot Network. In addition to mobilizing stakeholder partnerships and establishing the value proposition of the Blue Dot Network, the OECD has begun helping the Blue Dot Network design the certification framework that is at the heart of the initiative.
The United States also welcomed the results of an OECD survey in which respondents endorsed the concept of the Blue Dot Network and agreed that such a certification framework to identify sustainable, high standard projects could spur greater infrastructure investment in emerging markets. The report also identified challenges faced by infrastructure investors, including poor governance, lack of transparency, and weak legal and regulatory frameworks. Respondents also acknowledged environmental and social risks when designing and implementing infrastructure projects.
The survey highlighted strong interest among respondents in environmental and social governance issues, including a commitment by 70 percent of industry respondents to establish targets to meet net-zero emissions by 2050.
The United States, Australia, and Japan look forward to continued collaboration with the OECD and the Executive Consultation Group on development of the Blue Dot Network.