Parliament’s Role in Financing the SDG’s

The United Kingdom issued a governmental response to the U.N.’s SDG campaign. Parliament welcomes the International Development Act of 2015 which requires the Government to spend 0.7% of UK Official Development Assistance and recognize that it remains an essential part of the financial commitment needed to achieve the SDG’s, particularly for the Least Developed Countries.

Private sector investment will also be essential for countries wishing to make progress towards the SDGs, contributing to the agenda by creating jobs, increasing incomes, providing services and increasing resilience. However, where private investment is encouraged in developing countries, the UK Government should focus on developing and fragile states and actively consider whether its work will have a positive impact on the achievement of the SDG’s.

National ownership of this plan is being emphasized throughout the country. It is applicable to all, taking into account different national realities, capacities and levels of development and respecting national policies and priorities.

The re-invigoration of a ‘Global Partnership’ is one of the central tenets of Agenda 2030. Parliament should take a leading role in communicating the SDG’s to a wide private sector audience in the UK, including supporting the newly formed Business and Sustainable Development Commission to devise a comprehensive business case for private sector engagement with the plan. It should also support the development of international benchmarks against the SDGs, to enable companies to monitor and report on their progress against relevant targets.

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