Wu Hongbo, former United Nations Under-Secretary-General for Economic and Social Affairs, discusses the financing requirements to achieve the Sustainable Development Goals and summarises the commitments of the Addis Ababa Action Agenda.
In adopting the 2030 Agenda for Sustainable Development, world leaders committed themselves to a set of universal and transformative goals and targets. The Sustainable Development Goals (SDGs) set out an ambitious vision of a world free of poverty, hunger, disease and want, with universal access to education and healthcare, water and energy, sustainable growth and decent work for all, and in which humanity lives in harmony with nature.
The 2030 Agenda for Sustainable Development is applicable to all countries and people. Financing its implementation will be a tremendous challenge. Indeed, the financing requirements to achieve the SDGs are estimated to be in the order of trillions of dollars annually. And yet, meeting them is entirely feasible. Global public and private savings and investment would be sufficient – but only if financial resources were invested in and aligned with sustainable development. This requires a comprehensive approach and a new framework. The Addis Ababa Action Agenda, adopted at the Third International Conference on Financing for Development in July 2015, provides a comprehensive framework, along with concrete agreements and actions…
*Statistics within article correct at original publication date of CHOGM 2015 Report.
Former United Nations Under-Secretary-General for Economic and Social Affairs