Update on the SDGs
The 2024 Sustainable Development Goals (SDG) Report indicates that progress on the 17 SDGs is faltering, particularly in areas such as climate action, inequality, and peace and justice. Despite advances in global child mortality reduction and access to energy, the report highlights that nearly half of the goals are experiencing minimal to moderate progress. Without significant investment and action, the targets set for 2030 may remain unmet .
Financing is a central issue in achieving the SDGs. The SDG Stimulus plan calls for immediate actions to tackle the high cost of debt, expand long-term financing, and provide liquidity support to countries in distress. The plan aims to mobilize at least $500 billion per year through multilateral development banks (MDBs) to support sustainable development initiatives. Despite efforts, such as G20 countries rechanneling $100 billion of special drawing rights (SDRs), the current financial commitments are deemed insufficient to meet the escalating needs .
The SDG Stimulus Leaders Group, comprising leaders from Canada, Jamaica, Barbados, and other nations, is advocating for increased financial resources to tackle the challenges hindering SDG progress. Their meeting in June underscored the critical need for a “surge in action,” particularly in financing and addressing the economic constraints faced by developing countries.
Summit of the Future
At the upcoming Summit of the Future in September, global leaders will engage in crucial discussions centered on transforming global governance to better address the interconnected challenges of our time.
A key focus will be on reinvigorating the multilateral system to make it more effective, inclusive, and representative of the current global landscape.
Leaders will explore ways to strengthen the United Nations and other international institutions to ensure they are capable of delivering on the commitments outlined in the “Pact for the Future.” This includes enhancing the effectiveness of global governance structures, ensuring sustainable financing for development, and advancing peace and security initiatives.
Another significant topic will be the acceleration of actions to achieve the Sustainable Development Goals (SDGs) by 2030. With many goals at risk of not being met, leaders will discuss strategies to close the SDG financing gap, particularly in developing countries, and to address the urgent issues of poverty, hunger, and inequality.
Climate action and environmental protection will also be at the forefront, with commitments expected to enhance global efforts to combat climate change, protect ecosystems, and promote sustainable development practices.
Proposed ‘Pact for the Future’
Key commitments in the proposed “Pact for the Future” Document (Rev. 2 – 17 July 2024):
1. Sustainable Development and Financing:
- Commit to bold, transformative actions to achieve the Sustainable Development Goals (SDGs) and ensure no one is left behind.
- Place poverty eradication at the center of efforts, with comprehensive measures to prevent and reduce poverty globally.
- Eliminate food insecurity through emergency support, resilient agrifood systems, and open trade channels.
- Mobilize and deliver resources for sustainable development, with a focus on developing countries, and advance the SDG Stimulus initiative.
- Ensure the multilateral trading system supports sustainable development, with a focus on export-led growth for developing countries.
- Address inequalities, ensure access to health, education, housing, and sustainable cities, and promote inclusive migration policies.
2. Climate Change and Environmental Protection:
- Enhance global efforts to meet the Paris Agreement targets, set ambitious emission reduction goals, and ensure universal early warning systems by 2027.
- Commit to reversing environmental degradation, protecting ecosystems, and promoting sustainable consumption and production patterns.
3. International Peace and Security:
- Address the root causes of conflicts, protect civilians in armed conflict, and ensure humanitarian support for those affected by emergencies.
- Modernize UN peace operations to better address current and emerging challenges, ensuring safety, security, and adequate financing.
- Enhance global efforts to counter terrorism, prevent the misuse of technologies, and combat transnational organized crime and illicit financial flows.
- Reaffirm commitments to eliminate nuclear weapons and uphold disarmament obligations to prevent nuclear warfare.
4. Science, Technology, and Innovation:
- Scale up science, technology, and innovation (STI) to support sustainable development, especially in developing countries.
- Ensure technology is used ethically, protects human rights, and addresses the gender digital divide.
- Support the UN’s role in leveraging STI for global progress, with a focus on bridging the technology gap between developed and developing nations.
5. Youth and Future Generations:
- Commit to transformative investments in the education, health, and employment of young people, ensuring their active participation in shaping the future.
- Strengthen efforts to protect the rights of young people, particularly those in vulnerable situations, and promote social inclusion and intergenerational dialogue.
6. Global Governance Transformation:
- Transform global governance to make it more effective, inclusive, and representative of today’s world, ensuring that global institutions deliver on their commitments.