Underlining the importance of sustainable finance for the implementation of the 2030 Agenda for Sustainable Development, senior United Nations officials today called for stronger partnerships with a diverse range of stakeholders to ensure that resource requirements are met.
In her opening remarks at the high-level event, SDG Financing Lab – How to finance the SDGs, Deputy Secretary-General Amina Mohammed recalled the Addis Ababa Action Agenda, which was adopted in 2015 at the UN Third International Conference on Financing for Development.
She said the agreement – which sets out a series of bold measures to overhaul global finance practices and generate investments for tackling a range of economic, social and environmental challenges – is a key component of the 2030 Agenda.
“The Action Agenda provides the framework for global cooperation to finance and implement the Sustainable Development Goals (SDGs) by mobilizing public and private sources,” said Ms. Mohammed.
The deputy UN chief also noted that in addition to prioritizing domestic resource mobilization, aligning public spending with sustainable development and partnership with the private sector and businesses is equally important.
“It is in the interest of all countries, companies and people to tap the wealth of good that sustainable development will bring in environmental, economic and social terms,” she added.
In her remarks, Ms. Mohammed also noted that financial flows and investments are increasingly being aligned with the SDGs and said that with mobilization of large pools of capital such as pension funds and the insurance sector, “greater wins” for everyone can be realized.