Washington DC, 21 March 2023 (TDI): On Sunday, the United States (US) Department of State released a statement stating that the Blue Dot Network, launched in 2019 by the US, Australia, and Japan, is making strides in the development of sustainable and reliable infrastructure.
The Blue Dot Network, launched 4 years ago by the U.S., Australia, and Japan, is making infrastructure development more affordable, sustainable & reliable. It also provides a road map for developers to navigate & comply with standards, saving time & money. https://t.co/063307VLx4
— Department of State (@StateDept) March 19, 2023
Understanding Blue Dot Network
The Blue Dot Network is a global initiative aimed at promoting sustainable infrastructure development worldwide.
Launched four years ago by the United States, Japan, and Australia, the Blue Dot Network aims to help close the infrastructure gap and mobilize private sector investment for quality infrastructure projects.
The Blue Dot Network provides a mechanism to certify infrastructure projects that meet robust international quality standards.
By using a common standard of project excellence, the Blue Dot Network helps attract private capital to infrastructure projects in developing and emerging economies. It also promotes transparent, climate-smart, sustainable, and responsible investment.
Importantly, the US, Australia, and Japan are working with the Organization for Economic Co-operation and Development (OECD) to develop a methodology and metrics for the certification of infrastructure projects based on these principles.
Alongside, Blue Dot Network certification will serve as a globally recognized symbol of market-driven, transparent, Paris Agreement-aligned, and financially, socially, and environmentally sustainable infrastructure projects.
Significance of this Network
The Network is critical to achieving global infrastructure investment goals effectively and efficiently. The Global Infrastructure Hub estimates a $15 trillion shortfall in global infrastructure financing by 2040.
While public-sector funding will continue to be important for infrastructure development, the mobilization of greater private-sector investment will be critical to achieving these goals.
Through Blue Dot certification, the private sector will be able to invest in infrastructure projects that meet international standards of quality, transparency, and sustainability. This will benefit local communities and promote responsible investment practices.
In addition, the Blue Dot Network will audit and certify quality infrastructure projects that adhere to or go beyond robust infrastructure principles, standards, and best practices.
So, the certification process will help attract investment from the private sector, while also improving national policies and promoting sustainable, responsible, and transparent investment.
Building a trusted network benefiting everyone
For the information, the network provides a roadmap for developers to navigate and comply with standards, saving time and money. The aim is to ensure that infrastructure is built to the highest standards and with sustainability, resilience, and climate in mind.
Moreover, the Blue Dot Network’s certification process is designed to drive investment toward quality infrastructure projects, particularly in emerging markets with significant infrastructure needs.
The Lagoa Dos Ventos wind farm, deployed by Enel Américas (Electric power distribution company) in Brazil, is one of the pilot projects testing the Blue Dot Network’s assessment framework.
Ultimately, this 230-turbine wind farm, South America’s largest, was opened in June 2021 and is bringing renewable energy to millions of people while creating jobs. Enel also created a Local Labor Qualification Program for local workers, including an electrician training course for women.
Other pilot projects include Istanbul’s Eurasia Tunnel, a green data center from Microsoft expanding digital access in Indonesia, and a water supply and treatment plant managed by Aegea that provides clean water for millions of people in Brazil.
The Blue Dot Network’s certification process is voluntary and open to countries and developers that meet high standards of quality, transparency, and sustainability.
Secretary Blinken told the OECD’s October 2021 ministerial meeting in Paris, “We have to do more to make sure that infrastructure is done right.”
In a nutshell, the goal of the Blue Dot Network is to promote quality infrastructure globally to achieve environmentally, socially, and economically sustainable economies.