In an article written by Ibrahim Thiaw, a UN Assistant-Secretary-General, innovative approaches are clearly needed to bridge the funding gaps to achieve SDG’s. Without the SDG’s, there can be no guidance on how to design a financing framework for sustainable development. Without a successful climate change, the hope to end poverty and achieve sustainable development will be lost.
The SDG’s build on the success of the Millennium Development Goals and aim to go further to end all forms of poverty. The new Goals are unique in that they call for action by all countries, poor, rich and middle-income to promote prosperity while protecting the planet. They recognize that ending poverty must go hand-in-hand with strategies that build economic growth and addresses a range of social needs including education, health, social protection, and job opportunities, while tackling climate change and environmental protection.
How to mobilize the financial resources to achieve the sustainable development agenda are a core feature of the new agenda. In order to achieve the SDG’s, substantial investment will be required, in both developed and developing countries. This agenda will require the mobilization of significant resources, in the trillions of dollars. But these resources already exist. There are far more than enough savings in the world to finance the new agenda. How to direct investment so that it supports sustainable development will be crucial for achieving the goals.
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