Healthy public procurement can unlock $1 trillion in savings each year that could be used to support green, resilient and inclusive economies. Governments today spend approximately $13 trillion on public contracts for goods, services and public works. At the same time, they lose a quarter of that spending to inefficiencies. Pressure to improve procurement practices is likely to increase in coming years as governments grapple with unprecedented debt levels, declining tax collection and rising income inequality.
A new report, Global Procurement Partnership for Sustainable Development – An international review of developments in public procurement, show how the The role of public procurement can support broader policy goals such as environmental stewardship, resilient and inclusive economic development, and social protection. Join us for a conversation on how public procurement can play a pivotal role in putting the global economy on a more sustainable path. The discussion will also focus on how a broad international coalition – involving governments as well as private companies – could contribute to efficiency and provide better services to people around the world.