24 September 2018, 3:00 – 6:00 p.m., UN Headquarters
The Sustainable Development Goals (SDGs) represent tremendous investment opportunities, in the order of trillions of dollars. Yet, despite growing momentum for investments in sustainable development, the financing gap is significant. A major challenge in financing the 2030 Agenda will be attracting and directing public and private investments to areas that support the achievement of the SDGs. Financing for sustainable development, guided by the SDGs, including SDG 17, and the Addis Ababa Action Agenda will require action by diverse actors – Governments fostering enabling environments for financing and investment; the private sector mobilizing for long-term investment; and champions of innovation developing new solutions for financing the SDGs. More information about financing for sustainable development can be found here.
The Secretary-General’s High-level Meeting on Financing the 2030 Agenda for Sustainable Development built momentum around key actions and initiatives by governments, business and the international community.
KEY MESSAGES FROM THE DISCUSSIONS
- Achieving the SDGs requires a surge in financing and investments. The SG’s new financing strategy will guide the work of the UN system to help accelerate progress and complement efforts being made by champions of financing for sustainable development and longer-term investments from the private sector, philanthropy and other sources of innovation.
- Domestic resources are the most sustainable source of investment in national development priorities over the long term and demand is growing for effective, integrated national financing frameworks for the 2030 Agenda. Global partners -and an enabling global economic and financial environment- are critical in supporting national efforts and reducing risks.
- Sustainable business models and private finance are major drivers of change for the SDGs, but much more remains to be done to effect the necessary systemic change. Making the case for a virtuous circle of sustainability and profitability, leaders from the private sector are transitioning to business models and longer-term investments that support the SDGs. The role of data and reporting, based on clear standards around sustainability, should be strengthened.
- Taking financing successes to scale requires innovative instruments and new technologies that expand financial opportunities for people being left behind. Those hardest to reach require solutions that go far beyond conventional approaches. At the same time, solutions must be flexible in response to economic shocks, build on community priorities and consider regulations that empower the consumer while stemming abusive business practices.