Academic literature on the topic 'Global business environment'

Production systems in the structure of economic systems occupy the most fundamental place and act as both initial and basic subsystem of any economic development. There is a tendency to change the forms of production and the study of these process systems poses a wider aspect of their dynamics analysis. The article tries to prove both theoretically and practically that global production networks are one of the most important factors in the innovative transformation of countries and regions. It is concluded due to global production networks, being the channel for the transfer of global knowledge and technical know-how to regional structures, regions of the former periphery have quickly become developed, innovative regions with a specialization in the sector of highly qualified services, production of high-tech products, and generation of scientific knowledge. For transnational companies global production networks reduce their costs and financial risks by sharing with other companies, as well as global division of labor, an important part of global production.

Mestrado em Engenharia e Gestão Industrial
Com a globalização e o aumento de competitividade as empresas viram se forçadas a encontrar novas formas de optimização e de estar constantemente à acrescentar mais valor aos seus produtos. Como resultado, existe uma mudança progressiva para uma perspectiva externa com ênfase na concepção e implementação de novas parcerias estratégicas, que são geralmente nomeadas com o título de gestão da cadeia de abastecimento. No entanto, apesar do florescimento de várias soluções informáticas neste contexto, ainda há vários obstáculos evidentes a superar. Principalmente devido à maior complexidade dos problemas gerados numa rede logística onde existem conflitos resultantes de objectivos locais versus estratégias de integração. A simulação que conta já com um vasto histórico em aplicações industriais poderá revelar-se numa importante mais-valia neste novo âmbito. Esta ferramenta é usada para efectuar análises, estudos, optimizar projectos e identificar novas oportunidades. As empresas actualmente produzem numa rede complexa na maioria das vezes estão presentes em diferentes países, com múltiplas oportunidades de mercado. Normalmente existe a necessidade de produzirem componentes sofisticados que raramente são criados num único local. Isso representa um desafio extra para a plena utilização das ferramentas de simulação. Este trabalho tenta validar a ideia de que há um potencial inexplorado no uso e desenvolvimento de software de simulação. Novas aplicações tecnológicas estão a ser formuladas que tiram partido destes novos parâmetros e dão resposta a um superior número de critérios de eficiência e de produtividade nas empresas. Em conjunto procuram dar uma resposta a estes problemas, bem como integrar plenamente e com sucesso as empresas em novas formas de negócio como a gestão cadeia de abastecimento.
The increased level of competitiveness in all industrial sectors, exacerbated in the last years by the globalization of the economies. This is pushing enterprises to find new ways to optimize their processes, and in particular to pursue new forms of collaboration and partnership with their direct logistics counterparts. As a result, at a company level there is a progressive shift towards an external perspective with the design and implementation of new management strategies, which are generally named with the term of supply chain management (SCM). However, despite the flourish of several IT solutions in this context, there are still evident hurdles to overcome. Mainly due to the major complexity of the problems to be tackled in a logistics network and to the conflicts resulting from local objectives versus network strategies. Simulation has now a solid background in manufacturing applications. This tool is used to perform analyses, studies, optimize designs and also identify problems. Companies now produce in a complex environment and most of the times they are present in different countries with different market opportunities, manufacturing intricate products that are seldom created in a single location. This poses an extra challenge for the full use of simulation. This work tries to validate the idea that there is an untapped potential in simulation software. And new forms of distributes simulation techniques are growing to give an answer to these problems as well as fully integrate companies successfully into new ways of business like supply chain management.

Leaders of today have the challenge to lead in a complex, rapidly changing, multicultural context. In most industries, leaders perform tasks on a global level and they are required to have the necessary competencies to be more effective. It is a well-known fact that organizations are still negatively affected in terms of competitiveness and growth, due to leaders` lack of capabilities to lead effectively. Furthermore, despite the previous academic contributions, global leadership still remains a developing field to be explored. Previous studies on the global leadership listed various competencies to lead to effectively in a global environment. However, a limited evidence was provided to support direct relationship between those competencies and the global leadership effectiveness. Moreover, previous studies have concentrated mainly on defining global leadership competencies, but there is still a gap to understand which of those competencies makes global leaders effective. There is also a strong need for conducting more empirical studies in the field. In response to this gap, the purpose of this research is to identify necessary competencies for global leadership effectiveness and test them empirically. Structural Equation Modelling was used as a research method with the data collected from a questionnaire of 175 respondents worldwide, mainly located in Europe. The results of the research showed that Cross-Cultural Experience, Cultural Flexibility and Stress Tolerance predict global leadership effectiveness. Furthermore, detailed explanation of each competency that predict global leadership effectiveness were provided. The results of this research have both theoretical and managerial implications. Firstly, it proves empirically and quantitatively the relationship between identified competencies and global leadership effectiveness. Secondly, the results of the research contribute to the existing literature where there is a limited amount of research that focus on understanding global leadership competencies and global leadership effectiveness.

In 2016, the work towards a more sustainable world increased momentum when the new 17 Sustainable Development Goals (SDG) came into force. Now the SDGs will serve as a global agreement in the work towards ending all forms of poverty, fight inequality and tackle climate change for the next fifteen years. By using standardized Environmental Management Systems (EMS) together with global goals, the author aims on finding ways in how consultancy companies can develop their environmental and sustainability work even further. The purpose of the outcome is to contribute with knowledge in on how to become a leader within sustainable performance and environmental management as well as providing Pöyry Sweden with the basic knowledge in how to develop its performance in order to meet the new ISO-requirements. In the thesis the author developed a matrix-model in which the SDGs where connected to Global Reporting Initiative (GRI) as well as the Sweden’s Environmental Objectives (SEO). The aim of the matrix was to connect the SDGs to local ways of measuring environmental performance, but also on finding the SDGs that the consulting companies were most interested in. In order to collect the information, eight Swedish based consultancy companies (Acando, Accenture, Allies, U&We, Pöyry Sweden, Sweco, WSP and ÅF) where included. All companies where interviewed and took part in the matrix analyse. Based on the research question “How can the SDGs together with ISO be integrated within the management system at a private consultancy company in order to create sustainable benefits, focusing on environmental sustainability, for the company, customers and the society where they conduct business?” it was possible to see that the implementation of the SDGs together with ISO provides sustainable benefits as well as new business opportunities. The results showed that the ISO 14001:2015 could be an advantageous and strategic tool for many consultancy companies. A fully integrated strategic management system would help placing the company in an advantageous position, ready for tougher legislation, customer demand and technical innovation. In combination with commitments to the SDGs the company could find new ways of inspiring its employees and finding long-term purpose for the company and its business. The study made, proved that several of the SDGs are relevant for the interviewed consultancy companies. In the study the author experienced that three companies distinguished themselves when it came to leadership, internal driving force for finding sustainable business opportunities and finding ways of integrating the SDGs in the business. These companies were Allies, U&We and Accenture. For all interviewed parts, several goals are considered both as highly relevant, holding high business opportunities. A commitment to global goals could therefore have a positive effect on the company, providing a communicative strength and new ways of setting goals and bring visions forward. To summarize, the consultancy companies who dare to take a lead in performing sustainable business can send a clear statement and inspiration to customers and the business in general that sustainability is important and should be a desirable goal for the company to achieve. These companies would be considered as role models within sustainability, creating a positive impact reaching beyond the business itself.

A lot of research has been done concerning the internationalization process of companies. However, researchers have identified a new type of firm that is leapfrogging and is operating internationally right after inception. These companies are Born Globals. We are interested in this trend and the purpose of this research is to understand the strategic behaviour of Born Globals. Therefore, we have done qualitative research on these companies and we will focus on their pre-internationalization steps, their key drivers and their relation to the home market. We have found three case companies, who have helped us in our understandings and we have made several conclusions, regarding their strategic behaviour.

International companies face many challenges when operating in foreign country markets, as a new environment could be absolutely opposite to the one of the home market, which the companies are used to. One of the biggest issues for a company in the foreign market is to understand how to market its product and make it more appealing to the audience. This research is aimed at studying content marketing strategy as a new trend and a part of marketing strategy of an organization. Particularly, the main focus of this research is to investigate the process of building content marketing strategy of Western firms in the Russian environment. During the study, a few questions are illuminated, such as what steps are undertaken in order to manage a sound content marketing strategy and how the characteristics of Russian consumers influence the decision making and to what extent. The paper studies all these issues by the qualitative approach, presenting data and insights acquired through interviews with four Western companies, operating in Russia: Burger King, Johnson & Johnson, The Coca-Cola Company and Visa Inc. The analysis of the findings is done, comparing the experience of the companies with each other, which enables the authors to extract general patterns for content marketing strategy in Russia in terms of strategy building and consumer orientation and comparing empirical data with theoretical knowledge gained after the examination of the theory. The paper concludes giving answers to the research question and generalizing the analysis, as well as presenting the revised conceptual model. Later on, the main limitations of this study are mentioned and the suggestions for future research are stated to develop the understanding of content marketing strategy.

This thesis investigates the factors influencing the internationalization of firms through a multi-layered analysis grounded in international business. It addresses the following questions. First, in what ways does the institutional environment facilitate or hinder the growth of start-ups? And in what ways does institutional diversity across countries affect internationalizing firms? Second, in light of the variety of internationalization patterns, what modifications are necessary to the theories of internationalization? Third, how do rapidly internationalizing firms explore and exploit capabilities? And in what ways does capability development differ between firms that realize early, rapid internationalization and those firms that do not? Answering the first set of questions involves recasting the comparative institutional analysis of national political economies. This thesis demonstrates that: 1) when national institutions are in transition, business entrepreneurs can bring about institutional change, or else act to avoid or adapt specific institutions for their own use; and 2) international institutional diversity seems to be less influential in determining the expansion pattern of rapidly internationalizing firms. Next, to address the second question, this thesis examines the factors influencing the speed of internationalization. The proposed models point to a larger role of entrepreneurs’ perception and the relevance of the resources factor, and better accommodate a wider variety of internationalization paths. In order to answer the third set of questions, this thesis investigates the early stage development of firm-level capabilities among internationalizing firms. The result points to: 1) the faster transformation of individual capabilities to firm-level routines; 2) a wider variety of routines for exploring external capabilities; and 3) a higher ability to exploit ordinary routines, among more rapidly internationalizing firms. Finally, this thesis discusses how each of the three levels of analysis relates to the other levels. The overall analysis demonstrates the value of multi-layered approach in investigating the firm’s internationalization.

Nowadays, an increasing number of global retailers such as IKEA, Carrefour and Auchan, are expanding their business internationally: internationalization is seen as a way to face competitors as well as to enhance position on the market. In particular, emerging markets are becoming a fertile field for investing resources due to their fast economic development and growing disposable income of the local population. A number of market actors (or stakeholders) affect or are affected by the internationalization process, and therefore stakeholder management determines its success to a large extent. Thus, stakeholder management competences are becoming increasingly important in today’s business world. Our study addresses stakeholder management strategy applied by a Swedish global retailer (IKEA) when internationalizing to the Russian market. We also try to identify the main cultural differences between the focal organization and the Russian stakeholders, and the way in which the company faces and overcomes those diversities. Thus, we first give a brief overview of stakeholder management approach applied by IKEA on the corporate level, and then focus on particular practices adopted in Russia. Although the IKEA Group has internal and external stakeholder management framework, we find out that no explicit stakeholder management methodology is used in Russia. The strategy of managers is emergent and implicit, but within the company guidelines and code of conduct and in accordance with organizational culture and values. Although we outline IKEA Russia’s interaction with all main stakeholder groups on the Russian market, we examine more in detail the strategies applied towards the company’s three most critical stakeholders: government, suppliers and employees. Hence, IKEA Russia opts for long-term close collaboration with suppliers through knowledge and expertise exchange, close relationship-building, improvement of working standards, and even financial investments in some cases. Employees are granted good working conditions and respectful attitude, different compensation package, possibilities for personal and professional development. Government, identified by our respondents as the most challenging stakeholder, is approached through lobbying on different levels, development of personal relationships, exchange of experience and best practices. However, when interacting with authorities, IKEA also has to adapt, be “flexible within the limits”, and focus on the long-term. Having outlined real-life strategies applied by IKEA in Russia, we compare them with the results of theoretical modeling. In order to come up with theoretical propositions for stakeholder management of IKEA in Russia, we developed a stakeholder management model, which comprised all the most relevant theories. We, thus, discover that theoretical suggestions for stakeholder management are close to what is done by management in practice. However, the theoretical model overlooks “soft” aspects of dealing with stakeholders: local and organizational culture, turbulent business environment, fast pace of doing business. Moreover, it is difficult for a single stakeholder management framework to give a one-right stakeholder management approach: it is important to combine different theories and use them for complementing each other. This allows to get a more profound insight into managing stakeholders. We develop our research based on the information we could gather from IKEA’s representatives as well as secondary data sources, such as books, two doctoral theses, and a vast amount of journal articles. Our respondents were asked to answer questions throughout which their perceptions about the company’s stakeholders have been evaluated. This has helped the researchers to draw conclusions and answer the research questions.

ABSTRACTDate: Seminar Date: 2 June 2020, Submission Date: 7 June 2020Level: Bachelor thesis in Business Administration, 15 crInstitution: School of Business, Society and Engineering, Mälardalen UniversityAuthors: Gabriel Arteaga Fakhri Qusay Shehab Christine Katusabe Mukidi(96/03/31) (99/01/05) (97/05/15)Title: Global Value Chains, the effects and responses of Multinational Enterprises in a crisis environment: A case study on the effects of the COVID-19 crisisTutor: Edward GillmoreKeywords: Global Value Chain, Contingency, Resource-based Management, Global Crisis, Multinational EnterprisesResearch questions:RQ 1: How does a global crisis affect the parts of multinational enterprises’ global value chain?RQ 2: How do multinational enterprises respond to a global crisis with their functions and actions?Purpose: This study seeks to gain in-depth understanding of how a global crisis can affect an MNE’s production and what response an MNE can use to mitigate the consequences of a global crisis.Method: The method consisted of an abductive approach with the combination of secondary data and semi-structured qualitative interviews with varied top- and middle-level managers within the chosen MNE, to help answer the research questions of the thesis.Conclusion: The global crisis disrupted parts of the MNE’s GVCs and affected demand, business relationships and caused production facilities to shut down. Since the GVCs are being impacted, the COVID-19 crisis has also impacted the way in which an MNE operates. Both MNEs showed the importance of flexibility and adapted their strategies and operations as the crisis progressed.

This study outlines the current changes in requirements of the labour market for logistics professionals through the prism of the changing business environment caused by industrial change and current crises. Proposals for the introduction of changes for the higher education and postgraduate professional development providers were given.
У цьому дослідженні висвітлюються поточні зміни вимог ринку праці до фахівців з логістики через призму мінливого бізнес-середовища, спричиненого змінами промисловості та поточними кризами. Надано пропозиції щодо внесення змін до закладів вищої освіти та післядипломної кваліфікації.

The textbook outlines the most significant and relevant trends taking place in the modern world economy, and examines their impact on the activities of international companies. Section I is devoted to the study of the basic concepts, sources of competitiveness and strategies for conducting international business. Section III examines the key changes taking place in the system of multilateral regulation of foreign trade and the principles of regulation of modern methods of making trade transactions. Section III highlights the specifics of the activities of international companies in the context of financial globalization, examines the basics of regulating their investment activities and sources of financing. Section IV outlines the impact of the most relevant trends on international business: digitalization and technological development, global value chains, environmental aspects and sustainable development. It is intended for students of bachelor's degree programs in the field of Economics, containing specializations in the world economy or international business.

The article analyses the topic of e-trade assessment in a global environment. To achieve the objective, a de-tailed analysis of scientific works was carried out in order to identify the importance of e-trade assessment in a global environment and, by removing the identified limitations, to develop a model of e-trade evaluation applicable to a global environment. The empirical research was based on the developed e-trade evaluation model to test its effectiveness and applicability in a global environment. Based on the data collected, a multi-criteria assessment of e-trade was carried out, dividing the factors into five dimensions: emotional (consumer satisfaction and trust), technological (internet ac-cessibility, data security and privacy), financial (e-GDP, e-trade sales, impact of e-trade on overall company turnover), social (internet usage and purchasing volumes) and tax environment (VAT), and a comparative analysis of the coun-tries to compare the results of economically similar countries, to find out why the market leaders are performing so well in the e-trade sector, and to identify the methodologies and practices used in these countries, so as to identify the most effective methods and practices that can be applied in other countries. The results of the multi-criteria assessment al-lowed European countries to be classified into three groups: from market leaders to the most laggard countries. The strongest growth rates are found in Ro-mania and Bulgaria. It is worth noting that e-trade is also unpopular in South-ern European countries: Greece, Portugal, Spain, Italy, Malta, Cyprus.

This study highlights the assimilation of generation Z in the professional environment and its adaptation to the requirements of the organization it is part of. The candidates who have advanced knowledge in the field of technology are the target audience that will generate personalized education over time, but also interesting opportunities, who are growing in an environment relying only on technology and will be much more flexible in thinking and decision making, being those who grew up online. Born during the digital age, they will prefer an independent brand at the expense of a traditional / experienced brand. The intersection method used by combining the quantitative and qualitative approach will seek to identify the components of an effective professional integration system. The results obtained also highlight the fact that this process plays a key role in creating a convenient environment where the members of generation Z can explore their native creativity. The whole integration process will consist of a series of challenges that organizations will be facing in attracting and keeping the members of this generation, but also of methods used for its capitalization. The conclusions highlight the importance of this reference process for any member of Generation Z.

The role of entrepreneurship at the global level has grown in achieving economic and social development. On the economic side, establishing new businesses creates job opportunities for youth and increases production. On the social side, the spread of the concept of entrepreneurship in society leads to the generation of entrepreneurship, innovation and competition among young people. In addition to solving the problem of unemployment and the resulting economic and social problems. This is in line with the 2030 Sustainable Development Goals, which encourage accelerating economic growth and increasing levels of productivity and technological innovation. Women and men by 2030. In the State of Qatar, attention has begun to the issue of leadership and creativity in the business environment, as one of the most important mechanisms of strategic direction to support the policy of economic diversification that the state seeks to reduce dependence on the hydrocarbon sector in the national economy, and to achieve the Qatar National Vision 2030, which seeks to develop a diversified and competitive national economy Able to meet the needs of the citizens of Qatar at present and in the future and secure a high standard of living. This interest was reflected in Qatar's ranking first in the Arab world and third globally in the Entrepreneurship Environment Index for 2019, and 22nd globally and first in the Arab world in the Entrepreneurship and Development Index for 2019. The research will focus on the statement of laws and legislation that regulate activities related to creativity and entrepreneurship, and institutional frameworks that contribute to the development of the business environment with the aim of providing a stimulating investment environment for owners of small and medium enterprises and entrepreneurs, and evaluating the performance of the business and entrepreneurship environment in Qatar from the reality of international indicators (Entrepreneurship Index, Entrepreneurship Index Entrepreneurship environment), assessing the strengths and weaknesses in the aspects of leadership and creativity, and submitting proposals to develop the institutional performance related to the business environment, in a manner that serves to raise Qatar’s ranking in the indicators of global innovation and entrepreneurship.

The role of entrepreneurship at the global level has grown in achieving economic and social development. On the economic side, establishing new businesses creates job opportunities for youth and increases production. On the social side, the spread of the concept of entrepreneurship in society leads to the generation of entrepreneurship, innovation and competition among young people. In addition to solving the problem of unemployment and the resulting economic and social problems. This is in line with the 2030 Sustainable Development Goals, which encourage accelerating economic growth and increasing levels of productivity and technological innovation. Women and men by 2030. In the State of Qatar, attention has begun to the issue of leadership and creativity in the business environment, as one of the most important mechanisms of strategic direction to support the policy of economic diversification that the state seeks to reduce dependence on the hydrocarbon sector in the national economy, and to achieve the Qatar National Vision 2030, which seeks to develop a diversified and competitive national economy Able to meet the needs of the citizens of Qatar at present and in the future and secure a high standard of living. This interest was reflected in Qatar's ranking first in the Arab world and third globally in the Entrepreneurship Environment Index for 2019, and 22nd globally and first in the Arab world in the Entrepreneurship and Development Index for 2019. The research will focus on the statement of laws and legislation that regulate activities related to creativity and entrepreneurship, and institutional frameworks that contribute to the development of the business environment with the aim of providing a stimulating investment environment for owners of small and medium enterprises and entrepreneurs, and evaluating the performance of the business and entrepreneurship environment in Qatar from the reality of international indicators (Entrepreneurship Index, Entrepreneurship Index Entrepreneurship environment), assessing the strengths and weaknesses in the aspects of leadership and creativity, and submitting proposals to develop the institutional performance related to the business environment, in a manner that serves to raise Qatar’s ranking in the indicators of global innovation and entrepreneurship.

This publication presents six case studies of public policies that promote the development and use of geospatial technologies and applications, which can be categorized in five layers: institutions, tools, data, skills and industry. The evolution of these technologies and applications over the past decade has been driven by the understanding that where people and things are located is central to smart decision making. As a result of low-cost launch vehicles, increasing numbers of satellites in orbit, new sensor technologies, machine learning algorithms, advances in cloud computing, and the emergence of other technologies such as drones and high-altitude platforms, the geospatial economy is now expanding into many new geographies and sectors. This expansion calls for the development of innovative applications that benefit government in areas such as agriculture, environment, energy, aviation, maritime, transport, health, education, business, and society.

We believe the climate crisis will be resolved in cities. Today, while cities occupy only 2% of the Earth's surface, 57% of the world's population lives in cities, and by 2050, it will jump to 68% (UN, 2018). Currently, cities consume over 75% of natural resources, accumulate 50% of the global waste and emit up to 80% of greenhouse gases (Ellen MacArthur Foundation, 2017). Cities generate 70% of the global gross domestic product and are significant drivers of economic growth (UN-Habitat III, 2016). At the same time, cities sit on the frontline of natural disasters such as floods, storms and droughts (De Sherbinin et al., 2007; Major et al., 2011; Rockström et al., 2021). One of the sustainability pathways to reduce the environmental consequences of the current extract-make-dispose model (or the "linear economy") is a circular economy (CE) model. A CE is defined as "an economic system that is based on business models which replace the 'end-of-life' concept with reducing, alternatively reusing, recycling and recovering materials in production/distribution and consumption processes" (Kirchherr et al., 2017, p. 224). By redesigning production processes and thereby extending the lifespan of goods and materials, researchers suggest that CE approaches reduce waste and increase employment and resource security while sustaining business competitiveness (Korhonen et al., 2018; Niskanen et al., 2020; Stahel, 2012; Winans et al., 2017). Organizations such as the Ellen MacArthur Foundation and Circle Economy help steer businesses toward CE strategies. The CE is also a political priority in countries and municipalities globally. For instance, the CE Action Plan, launched by the European Commission in 2015 and reconfirmed in 2020, is a central pillar of the European Green Deal (European Commission, 2015, 2020). Additionally, more governments are implementing national CE strategies in China (Ellen MacArthur Foundation, 2018), Colombia (Government of the Republic of Colombia, 2019), Finland (Sitra, 2016), Sweden (Government Offices of Sweden, 2020) and the US (Metabolic, 2018, 2019), to name a few. Meanwhile, more cities worldwide are adopting CE models to achieve more resource-efficient urban management systems, thereby advancing their environmental ambitions (Petit-Boix & Leipold, 2018; Turcu & Gillie, 2020; Vanhuyse, Haddaway, et al., 2021). Cities with CE ambitions include, Amsterdam, Barcelona, Paris, Toronto, Peterborough (England) and Umeå (Sweden) (OECD, 2020a). In Europe, over 60 cities signed the European Circular Cities Declaration (2020) to harmonize the transition towards a CE in the region. In this policy brief, we provide insights into common challenges local governments face in implementing their CE plans and suggest recommendations for overcoming these. It aims to answer the question: How can the CE agenda be governed in cities? It is based on the results of the Urban Circularity Assessment Framework (UCAF) project, building on findings from 25 interviews, focus group discussions and workshops held with different stakeholder groups in Umeå, as well as research on Stockholm's urban circularity potential, including findings from 11 expert interviews (Rezaie, 2021). Our findings were complemented by the Circular Economy Lab project (Rezaie et al., 2022) and experiences from working with municipal governments in Sweden, Belgium, France and the UK, on CE and environmental and social sustainability.

This Handbook has been created for development partners and civil society actors that design and implement youth employment interventions, particularly in contexts marked by fragility and political-economic crises. Youth employment programmes usually strengthen young people’s business and entrepreneurship skills. They fail to consider the civic and political competencies needed by young people in order to negotiate fair, safe, and decent working conditions and influence the wider policy environment for decent work. The Handbook offers suggestions for integrating youth active citizenship strategies into youth employment interventions, thus building young people’s civic and political skills. Adopting these strategies will strengthen the capacities of young people to engage both private sector and government actors, foster inclusion, and strengthen coalitions that can influence a enabling environment for decent jobs for youth. Recognising that many young people start their trade and businesses in theinformal economy, the Handbook takes their experiences as the point of departure. It is widely recognised that political economy matters for development and development interventions. This also applies to youth employment programming. Ideas in this Handbook recognise that politics influence youth employment opportunities. This is particularly the case in contexts commonly referred to as fragile, conflict-affected and violent settings (FCVS). Approaches to youth employment interventions need to respond to these dynamics to avoid that powerful actors capture them to serve their interests and avoid increasing risks to conflict. Moreover, the Covid-19 pandemic has proved that fragility is multidimensional and manifests in many countries across the globe. Early on in the pandemic, it quickly became clear that the informal economy would be hard hit. In addition, the challenging politics of FCVS influence opportunities for both formal and informal employment.

As of 2017, 8.3 billion metric tons of plastic had been produced worldwide. Since about 40% is used in things that are thrown away relatively quickly (packaging and single use items), 6.4 billion metric tons had already become discarded materials needing to be managed. Only 9% of these discarded materials were recycled globally. The annual estimate of plastic entering our oceans globally is 5 to 13 million metric tons (MMT) per year. Latin America and the Caribbean (LAC) has an extensive populated coast, 119,000 km of coastline and over 205 million people living within 50 km of that coastline. Waste management infrastructure is still under development in many countries. Economic growth without fully developed infrastructure can lead to increased plastic leakage. This report focuses on municipal solid waste as a source of plastic input into the environment in LAC. The reports estimates that total plastic waste available to enter the ocean in LAC in 2020 was 3.7 MMT . Under business-as-usual projections, the report anticipates that the regional quantity available to enter the oceans in 2030 will be 4.1 MMT and 4.4 MMT in 2050.

The overarching goals for the UK in relation to global water security are to; tackle and reverse growing water insecurity and its consequences caused by depletion and degradation of natural water sources; and address poor water management and increasing demand. To do this, the UK has a well-developed water ‘offer’ that together can help reach the goal of global water security. This note details some of that water offer: UK water leadership: The UK developed the concept of modern sanitation and water supply, with an early example being the Victorian Bazalgette London sewer; Ownership and regulation: The UK has four models of ownership: government department in Northern Ireland, GoCo in Scotland, Mutual in Wales, and private companies in England. But the common thread is strong and clear, regulation to deliver the right outcomes for society; Competition and markets: The UK set up the world’s first water retail markets for business customers, delivering savings and environmental benefits. Similar market mechanisms are being developed for sewage sludge, which will help drive circular economy solutions; Innovation: The UK has a huge number of water tech start-ups and most water companies have labs and pilot schemes to support these fledgling companies. At the same time, the English regulator, Ofwat, has established a huge innovation fund, which along with the Scottish Hydro Nation initiative has made the UK the best place in the world for water innovation and tech.

Public procurement of goods and services contributes to about 15% of global greenhouse gas emissions. In the EU, public purchasing represents 15% of its GDP, acting as a major influencer on the market through the products and services acquired by governments from the local to national levels. The public sector has a role to play in leveraging this purchasing power to achieve the best societal value for money, particularly as we scramble to bend the curve of our planet’s warming. Globally, the construction and transport sectors each represent about 12% of government procurements’ GHG emissions. Furthermore, these sectors’ decarbonization efforts demand profound and disruptive technological shifts. Hence, prioritizing these sectors can make the greatest impact towards reducing the environmental footprint of the public sector and support faster decarbonization of key emitting industries. Meanwhile, the EU committed to achieving 55% reduction in GHG emissions by 2030 compared to 1990 levels. Drastic emissions reductions are needed at an unprecedented speed and scale to achieve this goal. Green Public Procurement (GPP) is the practice of purchasing goods and services using environmental requirements, with the aim of cutting carbon emissions and mitigating environmental harm throughout the life cycle of the product or service. While the EU and many of its Member States alike have recognized GPP as an important tool to meet climate goals, the formalization of GPP requirements at the EU level or among local and national governments has been fragmented. We call for harmonization to achieve the consistency, scale and focus required to make GPP practices a powerful decarbonization tool. We surveyed the landscape of GPP in the EU, with a focus on construction and road transport. Through interviews and policy research, we compiled case studies of eight Member States with different profiles: Sweden, the Netherlands, France, Germany, Estonia, Poland, Spain and Italy. We used this information to identify solutions and best practices, and to set forth recommendations on how the EU and its countries can harmonize and strengthen their GPP policies on the path toward cutting their contributions to climate change. What we found was a scattered approach to GPP across the board, with few binding requirements, little oversight and scant connective tissue from national to local practices or across different Member States, making it difficult to evaluate progress or compare practices. Interviewees, including policy makers, procurement experts and procurement officers from the featured Member States, highlighted the lack of time or resources to adopt progressive GPP practices, with no real incentive to pursue it. Furthermore, we found a need for more awareness and clear guidance on how to leverage GPP for impactful societal outcomes. Doing so requires better harmonized processes, data, and ways to track the impact and progress achieved. That is not to say it is entirely neglected. Most Member States studied highlight GPP in various national plans and have set targets accordingly. Countries, regions, and cities such as the Netherlands, Catalonia and Berlin serve as beacons of GPP with robust goals and higher ambition. They lead the way in showing how GPP can help mitigate climate change. For example, the Netherlands is one of the few countries that monitors the effects of GPP, and showed that public procurement for eight product groups in 2015 and 2016 led to at least 4.9 metric tons of avoided GHG emissions. Similarly, a monitoring report from 2017 showed that the State of Berlin managed to cut its GHG emissions by 47% through GPP in 15 product groups. Spain’s Catalonia region set a goal of 50% of procurements using GPP by 2025, an all-electric in public vehicle fleet and 100% renewable energy powering public buildings by 2030. Drawing from these findings, we developed recommendations on how to bolster GPP and scale it to its full potential. In governance, policies, monitoring, implementation and uptake, some common themes exist. The need for: • Better-coordinated policies • Common metrics for measuring progress and evaluating tenders • Increased resources such as time, funding and support mechanisms • Greater collaboration and knowledge exchange among procurers and businesses • Clearer incentives, binding requirements and enforcement mechanisms, covering operational and embedded emissions With a concerted and unified movement toward GPP, the EU and its Member States can send strong market signals to the companies that depend on them for business, accelerating the decarbonization process that our planet requires.

1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.