Towards a Global Peace Bond Market: Establishment of Peace Finance Standards Committee and Peace Finance Impact Framework

Finance for Peace, the leading global initiative dedicated to creating norms, standards, research and knowledge to promote investment approaches aimed at fostering peace, is excited to announce the launch of a call for expressions of interest for its Peace Finance Standards Committee (the Standards Committee). The Standards Committee will play a crucial role in developing and promoting Peace Bond Standards as well as Peace Equity Standards that will enable finance to make a positive impact on peace.

“This is a win-win for the finance and peace sectors. We have the best possible finance sector advisors supporting us, growing government support, and we are creating a step-change towards better financial returns and peace outcomes. This initiative is an innovative solution: it brings together private finance and peace at a time when conflicts are on the rise and traditional sources of funding for peace are not meeting the need”, said Simon Gimson, Acting President of Interpeace.

“Peace is a global public good. The aim of the Peace Finance Impact Framework and the Peace Finance Standard is to support and scale more responsible and peace-enhancing investment by the finance sector. And we are now creating a Standards Committee to ensure that the Peace Finance Standard remains internationally credible, evolves with the finance sector’s needs, stands the test of time, and works for both the finance sector and peacebuilders”, Mr Gimson said.

Fiona Reynolds, Strategic Advisor to Finance for Peace, said: "We are thrilled to launch this call for expressions of interest for our Standards Committee, alongside version 2 of the Peace Finance Impact Framework. By assembling a diverse group of accomplished professionals, we aim to develop robust standards that will inspire the integration of peace and peacebuilding principles into financial investment.”

The Standards Committee will bring together accomplished professionals with diverse expertise in finance, investment, sustainability, development and peacebuilding. The Committee will play a crucial role as part of the Finance for Peace initiative, guiding the development of comprehensive Peace Bond and Equity Standards that will promote and create the conditions where capital works for more peaceful, just and fair outcomes.

The call for expressions of interest invites individuals who are passionate about leveraging the power of finance to foster peace to apply for a position on the Standards Committee. Successful candidates will possess an understanding of the intersection between business, investment, development and peacebuilding, along with a track record of exemplary leadership in their respective field. Interested individuals are invited to review the eligibility criteria and application process. The deadline for submitting expressions of interest is 30 August 2023.

The Standards Committee will be composed of an equal mix of representatives from various fields, including the finance and investment sector, as well as the development, peacebuilding and academic fields.

The Standards Committee will iterate, improve and provide strategic advice on the Peace Finance Impact Framework (PFIF) as well as the Peace Finance Standard (PFS) which have been updated to version 2, available here.

Peace Finance Impact Framework and Peace Finance Standard

The Peace Finance Impact Framework and Peace Finance Standard have been developed in collaboration with a wide range of stakeholders from private finance, banking, development finance, impact investment, civil society as well as peacebuilding and development sectors.

The PFIF is a voluntary framework that guides government donors, development finance institutions, private asset managers, banks, and investors as well as peace actors on how investment approaches can realise rigorous and benchmarked peace impacts. By doing so, PFIF-aligned investments can lower risks for investors as well as communities.

The PFIF sets out international best practice for labelling Peace Bonds and Peace Equity investments through a self-certification scheme called the Peace Finance Standard (PFS). The framework describes basic exclusionary criteria, a proposed process and partnership model of how investors can plan, implement, measure and verify peace impacts.

In addition, it suggests an intervention logic of how investors may generate additionality and better outcomes for communities. The PFS and PFIF help investors lower risks for both communities and investees by implementing peace and investment strategies that are better sensitised to political and social risks while also building greater trust, buy-in and certainty through more inclusive investment approaches.

The ongoing updating and strengthening of the PFIF and PFS is a collaborative effort that aims to ensure the framework aligns with the needs and aspirations of the finance, investment and peacebuilding sectors. It builds on significant mapping research that has been conducted by Finance for Peace and various other partners on the existing gaps in current investment frameworks and due diligence frameworks for investing in emerging and frontier markets.

The PFIF (version 2 is available here) is based on version 1 (available here) which was developed in September 2022 after several rounds of feedback and consultation with experts in sustainable investment, finance, peacebuilding, development and academia, and which was published after being presented during the   Investing for Peace Conference in Berlin as part of Germany’s G7 Presidency in September 2022.

Further information

Why Peace Finance is needed and why new standards are critical

Currently, 1.8 billion people, almost a quarter of the world’s population, live in 57 fragile and conflict affected countries which are not meeting the Sustainable Development Goals, largely because of ongoing instability, violence and conflict.

Investment into these places is at a ten-year low and existing blended finance approaches are currently not bridging the gap. Feeding into this are poor market perceptions and evidence of systemic mispricing of risks which suppress the supply of scaled and bankable investments in fragile low-income settings. At the same time, there is broad evidence of private and public investment exacerbating conflict dynamics and failing to mitigate risks for investees and communities. Underpinning all this is a significant lack of fit-for-purpose market frameworks, guidance and incentives for public and private investors to help them proactively engage and properly mitigate risks in fragile and conflict affected settings.

There is a drastic need for new investing approaches that lower risks for communities as well as investors so capital can better work for peace. But this cannot happen without standards and benchmarks for peace impact that are trusted, rigorous and have wide stakeholder buy-in.

About Finance for Peace

Finance for Peace operates as a multistakeholder initiative incubated by Interpeace, a leading international organisation for peacebuilding headquartered in Geneva. Finance for Peace seeks to make systemic change in how investment supports peace in the world’s developing and fragile places through developing standards for peace finance, market intelligence, and new partnerships that can scale new peace finance approaches.

Peace Finance Standards Committee expressions of interest and terms of reference

Peace Finance Impact Framework

Peace Bond Standard

Peace Equity Standard

Cross-sector collaboration to improve peacebuilding practices

Interpeace recently organised a Good Peacebuilding in Practice Workshop in Geneva, where representatives from the humanitarian, development, human rights, and mental health sectors participated in an effort to tackle the most pressing issues in our field. During this two-day workshop, Interpeace colleagues were joined by over 25 participants from diverse corners of the peacebuilding sector with the aim of helping each other improve as practitioners through an honest exchange of knowledge and reflections.

In recent years, peacebuilders have put much emphasis on working with the development and humanitarian sectors to operationalize the sustaining peace agenda and to enhance the understanding of the ‘P’ within the HDP Nexus debate. Therefore, it was an opportune time to turn the magnifying glass on our own sector and ask: how are we doing? And more specifically, what can we, as peacebuilders, learn from other sectors in order to continue to grow and improve as practitioners in the peacebuilding field. In her opening remarks, Dr. Rebecca Brubaker, Interpeace’s Director of Policy, Learning and Advisory Services, stated that the two main goals of the workshop were “to have a frank and proactive intra-sector conversation about key debates in our field, and for this learning discussion to be directly informed by other sectors.”

The workshop was organized around three main themes. The first session centered on Accountability in Peacebuilding, paying particular focus to the ethical question of how peacebuilders are held to account by or on behalf of those most affected by their actions. Participants engaged with colleagues from the humanitarian sector on the accountability mechanisms and standards they have implemented, and discussed the different ways in which international and local actors, as well as peacebuilders could enhance accountability in peacebuilding. The second session focused on Balancing protection with connection needs, where participants from the psychological field used scenarios and models from their own practice and experience to trigger a discussion on how to balance connection with protection needs in peacebuilding. The third session looked at how principles of Neutrality and Impartiality inform peacebuilding practice. While principles are firmly established in the humanitarian and human rights sectors (albeit in different ways), peacebuilders often take a more pragmatic, case by case approach, and discussions centered on how different actors in the room consider impartiality and neutrality in resolving dilemmas that emerge in the field.

“It’s the first time I’ve seen peacebuilders and people coming from other sectors discussing and talking about the different principles and perspectives on impartiality and neutrality.” Charles Ndayiziga – Great Lakes Regional Representative, Interpeace

Participants expressed their enthusiasm for spending this time together to discuss and exchange ideas and experiences, as a way to strengthen and improve each other’s work. Interpeace hopes to continue the collaborative exploration of these topics in the future.

 

 

A journey of reconciliation and hope through farming in Yabicho, Mandera County, Kenya

Inter-clan disputes between the Degodia and Garre tribes of Mandera County plagued the period from 2010 to 2015. This conflict claimed countless lives and led to livestock raiding and property destruction. In villages like Malkaruqa, Garse, and Yabicho, Garre farmers found themselves uprooted from their ancestral lands, their once-lush irrigation farms reduced to ruins, and their mango trees that had once adorned the landscape mercilessly cut down. Similarly, the Degodia communities were displaced from Banisa and Takaba, and each clan retreated to their own clan territories.

Despite this despair, the National Cohesion and Integration Commission (NCIC) and Interpeace, recognising the urgent need for a ceasefire, initiated inter community dialogues within the conflict between the Garre and Degodia clans. These dialogues brought together a diverse group of individuals, under the guidance of a remarkable woman named Zahara Bashir Ali. Zahara, a member of the Board for the Network for Peace, Cohesion, and Heritage (NEPCOH) and an active participant in Interpeace's Kenya Programmes working group, processed a vision that transcended the conflict. When the Degodia clan proposed using her farm as a meeting ground for the two communities, Zahara saw an opportunity to unite the two communities.

The severe drought that afflicted the area and heightened tensions between the clans served as one of the initiatives' driving forces. Zahara realised that her farm, once abandoned and neglected, could become a catalyst for change. With determination in her heart, she accepted the proposal, opening her land to both the Garre and Degodia farmers. Zahara’s unwavering belief in the power of unity became the beacon of hope that the villagers yearned for. The neglected land was meticulously restored, and the once-destroyed irrigation system was painstakingly resurrected.

Both clans have agreed on a set of rules that govern the management of the farm. These rules encompass various aspects, ranging from the fair distribution of the farm to ensuring peaceful coexistence and providing protection against external threats. A committee, selected through mutual agreements, is responsible for overseeing the farm's operations, which is shared equally between the Garre and Degodia clans. To maintain consistency in measurement, the committee employs one person's foot as the standard unit of length, ensuring that no other individual measures the farm. Each member retains ownership of the produce they cultivate on the farm.

However, the collaboration has faced certain challenges, including limited farm space and the strain on key personnel involved in the day-to-day farm operations. Despite these obstacles, the farm currently accommodates approximately 53 residents. Efforts are underway to sustain and expand the collaboration in the future by institutionalising engagement and replicating the model in other areas such as Qalicha, Rhamu Dimtu, Garse and Malka Ruqa.

The collaboration has brought numerous benefits to both communities. It has ensured access to food, provided protection against external aggression, and fostered a close working relationship with local chiefs from both clans. Furthermore, its impact has extended beyond the borders of Yabicho. Displaced families on the Ethiopian side, who found themselves caught in the crossfire of the Garre-Degodia conflict, have regained hope through their involvement in accessing farming activities. The unity forged through this collaboration has rippled across vast distances, healing long-standing wounds.

Adopting best practises for inter-community collaboration in the creation and management of sustainable farming activities is crucial. These practises include trust-building, mobilisation of peace-minded farm owners, developing rules of engagement, crop management, creating agribusiness awareness, accessing markets and irrigation facilities, and developing entrepreneurship skills among farmers.

"This collaborative effort has the potential to impart invaluable lessons on resilience, social cohesion, and interdependence to other communities. The NCIC/Interpeace peacebuilding programme is looking to expand this farming initiative to Badasa and Songa villages in Marsabit," says Interpeace’s Kenya Country Representative, Hassan Ismail on the pressing need to replicate similar projects.

"Implementing similar projects in neighbouring villages can nurture a sense of interdependence between the Garre and Degodia clans in Mandera, contributing to a community-led process of reconciliation and post-conflict reconstruction, all while promoting sustainable farming practises."

Ethiopian police service takes another crucial step towards inclusivity and effectiveness in community engagement

"The validation workshop for the 'public participation and data-driven problem-solving in policing' curriculum marks a crucial step in advancing the Ethiopian police service through the training set by the Ethiopian Police University (EPU.) This workshop empowers our trainees with the knowledge and skills to effectively engage the public in identifying community problems and then devise and implement solutions to those issues. By recognising the importance of collaborative problem-solving, we enhance community-police relations and ensure the safety of our citizens."Tamru*, a senior lecturer and trainer in police science at the EPU.

In a significant stride towards improving the police service and fostering collaboration, the Ethiopian Police University (EPU) and Interpeace signed a comprehensive memorandum of understanding (MoU). As part of this partnership, a team of experts from both organisations developed a module "public participation and data-driven problem-solving in policing" on collaborative problem-solving that will be integrated into EPU's training programmes. This will equip police officers with the necessary skills to work collaboratively with communities and other stakeholders to solve complex problems. Recently, a validation workshop gathered 25 key stakeholders, including the president and vice president of EPU, academicians, and researchers, to assess the content and relevance of the curriculum, marking a crucial step towards transforming community-police relations and enhancing public safety.

Addressing historical gaps in fostering positive interactions between the community and the police

The Ethiopian police service has faced persistent challenges in effectively engaging the public and fostering their active and meaningful participation due to a history of mutual mistrust and hostility. The prevailing perception of the police as the sole entity responsible for addressing crime has hindered the integration of citizens' voices. Consequently, problem definition and priority-setting activities were exclusively carried out by the police department, while systematic approaches to analysing crime and safety-related concerns were limited or non-existent. Recognising the pressing need for change, the EPU, in partnership with Interpeace, endeavoured to bridge this historical gap by developing a pioneering curriculum module.

Collaborative problem-solving approach

The curriculum module focuses on collaborative problem-solving, incorporating data-driven methodologies, and leveraging Geographic Information System (GIS) technology. It equips police trainees with tools and knowledge to effectively engage with the public. Active community participation enables a broader perspective, addresses diverse community needs, and co-creates solutions to crime and safety challenges. This innovative approach heralds a new era of community-oriented policing in Ethiopia.

Significance of the validation workshop

The validation workshop served two key objectives. Firstly, it addressed the need for more technology-based collaborative problem-solving approaches in police training programmes. By integrating this module into EPU's curriculum, future police officers will be equipped with essential skills and knowledge for data-driven and participatory community engagement. Secondly, the workshop evaluated the module's content and relevance within the Ethiopian context, ensuring it meets the unique needs of communities and the police department.

Tamru*, a senior lecturer and trainer in police science at the EPU, emphasised the importance of integrating technology-based collaborative problem-solving approaches into training and education programmes. He views the validation workshop as a significant milestone, stating:

"This initiative is of utmost importance and timeliness in transforming our police service. It is widely acknowledged that the police alone cannot address all crime and safety-related concerns. However, I have observed significant challenges in fostering active public engagement in maintaining peace across different levels. This stems from the inadequacy of our current police education and training schemes to equip trainees with the necessary and up-to-date knowledge of collaborative problem-solving activities. Hence, this curriculum will be critical in helping our trainees realise the importance of engaging the public in effectively addressing crime and safety-related concerns.”

The validation workshop for the "public participation and data-driven problem-solving in policing" module is a defining moment for the Ethiopian police service. It showcases the commitment of the EPU to revolutionise police training, promote community engagement, and foster a safer society. Policymakers, police leadership, and donors must provide unwavering support for successful implementation of the trust-building community policing programme in Ethiopia. By embracing data-driven problem-solving and public participation, Ethiopia paves the way for a more inclusive, effective, and community-oriented police service.

*Names have been changed to protect the subjects’ identities.

Youth Summit – Great Lakes youth advocate for inclusive leadership and active participation in peacebuilding

In the heart of the Great Lakes region, the youth population of Burundi, Rwanda, the Democratic Republic of Congo (DRC), and Uganda are stepping up to ask for a seat at the table in rebuilding their nations after years of conflict. With unwavering determination, they are demanding inclusive leadership and active participation in peacebuilding.

The Great Lakes Youth Peace (GLYP) Summit, organised by Interpeace and its partner organisations, the Centre d’Alerte et de Prévention des Conflits (Burundi), Action pour la Paix Concorde (DRC), Pole Institute (DRC), Refugee Law Project (Uganda), Never Again Rwanda (Rwanda), and Vision Jeunesse Nouvelle (Rwanda), provided a platform for young people to have their voices to be heard and united as future leaders in their quest for peace and development. The summit is part of the Great Lakes YouthLab initiative supported by the European Union and the Swiss Development Cooperation, which aims to promote a culture of peace and responsible citizenship among young people in the Great Lakes region.

 

 

Despite facing challenges such as unemployment, poverty, and limited access to education, the youth refuse to be defined by their hardships. At the summit, participants identified common obstacles and made recommendations to decision-makers. They emphasised the need for purposeful budget allocations to empower the youth through programmes such as skills training, mentorship, and entrepreneurship support.

Education took centre stage, with calls for increased support for skills training programmes. Gender equity was also highlighted, urging the inclusion of young women in decision-making processes and economic activities. The GLYP Summit showcased the transformative power of youth engagement through the inaugural Great Lakes Youth Talks. These conversations demonstrated that the youth are not merely seeking to be heard but are actively driving positive change in their communities.

The impact of the summit goes beyond its recommendations. It paves the way for greater youth participation in governance, peacebuilding, and development initiatives. Decision-makers, civil society organisations, and regional stakeholders are beginning to recognise and appreciate the power of youth voices. By embracing their ideas, providing resources, and fostering an inclusive environment, the Great Lakes region can harness the potential of its young generation and transform its trajectory.

As momentum grows, the world must actively involve and support the youth in their efforts. The journey towards sustainable peace and development requires the contributions of all stakeholders, with the youth at the forefront. Together, they can build a region where opportunities abound, wounds of conflict heal, and the dreams and aspirations of the youth are realised. The Great Lakes youth are ready to make their mark, and political and civil society leaders are beginning to recognise their power.

How a holistic societal healing programme has strengthened mental resilience, reconciliation, and livelihoods in Rwanda

The 1994 Genocide against the Tutsi in Rwanda left the country with tremendous consequences for mental health, social cohesion, reconciliation, and socioeconomic development. The Government of Rwanda and its partners have made efforts to tackle these persistent challenges, nearly 29 years after the Genocide.

To support the government’s efforts, Interpeace introduced a societal healing programme that uses a holistic approach to address mental health, foster social cohesion and stimulate the livelihoods of individuals and communities. The holistic programme, titled “Reinforcing community capacity for social cohesion and reconciliation through societal trauma healing,” was piloted in Bugesera District, Eastern Province of Rwanda, from October 2020 to September 2022, with funding from the European Union (EU).

During a high-level national conference organised on 9 March 2023 to share the outcomes, challenges and lessons identified from the pilot phase’s implementation, it was revealed that the programme has demonstrated that a holistic societal healing approach in the context of Rwanda is more relevant than ever, given the socio-political transition from reconciliation to community resilience, 29 years after the Genocide.

The programme utilised structured and contextualised group-based psychological interventions (protocols for mental health and psychosocial support) to create and facilitate healing spaces in communities across Bugesera District. The healing spaces contributed to reducing trauma/psychological wounds, increasing the sense of safety, trust, cohesion, and reconciliation among Genocide survivors, Genocide perpetrators and their relatives. They also stimulated intergenerational dialogues between Genocide survivors, Genocide perpetrators and their children, mostly those born during or after the Genocide. Additionally, the programme addressed intergenerational transmission of genocide legacies, marital conflicts, improved intrafamily communication and cohesiveness, and strengthened individual’s mental resilience.

Graduates of the healing spaces acquired entrepreneurship and financial skills, enabling them to initiate collaborative livelihood initiatives and further cement social relations among themselves.

The programme has also contributed to improving the prisoner rehabilitation and reintegration process. It established healing spaces in Bugesera prison, providing psychosocial support to those about to be released and facilitating their acquisition of hands-on skills to ease their social reintegration.

In her remarks, Interpeace’s Senior Director of Programmes, Renée Larivière, noted that the pilot programme was initiated in line with the organisation’s strategic objective of enhancing resilience for peace. She highlighted the fact that the pilot phase achieved greater results than initially expected. “What started as a modest initiative to develop new and innovative ways to build lasting peace has taken us on an extraordinary journey to achieve more holistic change,” she noted.

The conference, which incorporated panel discussions, testimonies, and audiovisual content, served as  an opportunity to familiarise policymakers, societal healing and peacebuilding actors, government officials, the media, academia, and others with the programme’s approaches to stir up debate around societal trauma healing approaches in Rwanda.

Participants commended the programme's achievements and its contribution to building a Rwandan society that is mentally, socially, and economically resilient, peaceful, and inclusive. To sustain the programme’s grains, most conference participants advocated for the institutionalisation of the tools developed (protocols and curricula) and the implementation of mechanisms to train interested actors in their proper use. One of the participants went further to suggest the implementation of a specific training institution that could utilise these scientific tools to strengthen the capacity of local and regional actors. “I am thankful to Interpeace, which has developed and contextualised those tools. Institutionalising them is the better way to ensure that they have a bigger impact. However, the best way of ensuring their sustainability is to establish a learning institution that can serve to train local actors to implement them and share Rwanda’s experience with other countries facing similar challenges,” suggested Marcelin Sebagabo.

Her Excellency Belén Calvo Uyarra, the Ambassador of the European Union (EU) to Rwanda, reiterated the EU’s support for peacebuilding initiatives in Rwanda.  “We have seen how our efforts to promote collective trauma healing in Rwanda through mental health, psychosocial and livelihood support have had a positive impact on communities. We are hearing how former enemies, victims, and perpetrators have come to trust each other again and develop ways to heal the community. The EU will remain a strong partner of Rwanda in areas of reconciliation, peacebuilding, and justice,” she added.

The Permanent Secretary to the Ministry of National Unity and Civic Engagement (MINUMWE), appreciated Interpeace’s holistic and adaptive approach that led to tremendous change at individual, community, and institutional levels. “This adaptive programme management approach sets a good foundation for the sustainability of the results achieved on the ground.  The protocols that were developed are in line with our vision to promote standardisation in the societal healing sector, and we hope there will be moments for their institutionalisation where applicable.”

In closing, she expressed her appreciation to the Government of Sweden for providing funding that helped scale up this programme to five more districts with the target of reaching more than 20,000 individuals in the next three years.