by Thalif Deen
Inaugural Meeting of the Global Investors for Sustainable Development Alliance,
16 October 2019. Credit: UN Photo/Mark Garten|
And, not surprisingly, at the UN, when it comes to the implementation of its 17 Sustainable Development Goals (SDGs), the financial targets keep moving – from millions into billions, and eventually from billions into trillions of dollars.
At a ministerial meeting in September, Secretary-General Antonio Guterres thanked member states for their pledges and commitments at three high-level summit meetings: on Climate Action, on SDGs and on Financing for Development (FfD).
“But to make serious progress,” he told the ministers, “we need to fill the financing gap for SDGs—some $1.5 trillion dollars per annum.”
According to the 2014 World Investment Report by the Geneva-based UN Conference on Trade and Development (UNCTAD), the financing gap to achieve the SDGs in developing countries is even higher — and estimated to be around $2.5 – $3.0 trillion per year. [READ MORE]
UN Turns to Global Investors for Billions Needed for its 2030 Development Agenda