Ladies and Gentlemen,
Members of the Global Investors for Sustainable Development Alliance,
Welcome to the opening of the 2022 SDG Investment Fair.
As the North Star for the world’s transition to a sustainable, inclusive, and resilient future, the Sustainable Development Goals present abundant opportunities for investments across developing countries.
In a relatively short period of time, the Fair has become a year-round programme that connects forward-looking investors with high-impact bankable projects to boost investment into the SDGs.
During the next few days, the Fair will showcase exciting investment opportunities in Colombia, Nigeria, Guatemala, El Salvador, Equatorial Guinea, Indonesia, and Malawi.
It will also feature discussions on key policy issues to unlock private capital and financing solutions, including in relation to multilateral development banks and SDG-related reporting metrics.
As you engage in these presentations, I call on you to keep in mind the sense of urgency needed to avoid the deepening of today’s multiple and mutually reinforcing crises, and to prevent the SDGs from being further eroded.
The world faces enormous challenges in building back better. Theas global recovery from COVID-19 is now being thwarted by the cascading effects of the war in Ukraine on food, energy and financial systems, on top of a global economy already battered by rising debt burdens, interest rates, heightened fragility, and climate change.
I am optimistic about the steps already being taken by private investors in directing capital towards clear opportunities in sustainable food systems, energy access and digital connectivity and inclusion.
As we continue to work towards our shared objectives, we need to ensure that the trillions in global capital markets are mobilized towards effective, credible and accountable action to accelerate the SDGs.
Climate is one example. The IPCC estimates that $2.4 trillion needs to be invested in energy systems annually between now and 2035 to limit global warming to 1.5°.
That’s what the SDG Investment Fair is all about.
Inaction is not an option.
We must make bold proposals to build an effective SDG investment ecosystem and fill the financing gaps.
That remains the only pathway to a better, sustainable future for all.
We must come together to strive to keep alive the promise of the Sustainable Development Goals.
Thank you for being part of this important effort.
I wish you all a fruitful event.