Wednesday Scribbles : Achieving SDG’s, What Will it Take?

Notes from a changing world…
July 05th

“Putting people and consumers in the centre of competition and innovation will lead to a completely different take on competitive advantage”

Anthony Hehir, Director Nutrition Improvement Program, DSM

The 2030 Agenda could cost Asia and the Pacific as much as $2.5 trillion per year to close infrastructure gaps, provide universal access to social protection, health and education, as well as action on climate change.
SDGs offer a blueprint for a world free of the worst effects of climate change, where extreme poverty is a thing of the past and the future is more secure and more hopeful for everyone. How business does business will have a major bearing on whether sustainable development can be achieved.
More efficient energy use is fundamental to future sustainable energy systems. It is also a defining factor for many of the global challenges we face, like poverty, food security, equal access to water, healthcare and education, climate change and equitable economic growth.
A sustainable industrialization strategy could generate more than 56 million new jobs by 2030 in the South Asia sub region, lifting 71 million additional people out of poverty while also embracing low-carbon development pathways.
The Global Goals call on all businesses to demonstrate their contribution to an inclusive and sustainable future. But many companies fail to understand their most important impacts. Few companies in Southeast Asia are talking about their contribution to sustainable development.

Until new markets for sustainable investment open up across developing nations, there is little point in requiring asset managers to report against the Global Goals.  While the global goals do not readily offer a new set of standards for traditional investors, they do offer a better framework for investors to operate in.

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Increasing domestic financing is vital to achieving SDGs, but if the world truly wants to live up to its promise that no country or person be left behind, external support is needed. The Global Financing Facility for Every Woman Every Child, models for successful development financing and looks comprehensively at existing domestic and external resources, at government needs, and at cost-effective implementation.
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Undoubtedly one of the strongest supporters of the goals are global banks. Over 20 global banks and investors with collective assets worth close to $6.6 trillion, have come together to back a global framework. This framework will channel the money they manage towards clean, low carbon and inclusive projects.

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Global Islamic finance accounts for over $1.9 trillion in assets in predominantly Muslim nations in Africa and Asia. In a monumental move, the Islamic Development Bank advocated backing of impact investing funds. Along with this, they also recommended aligning standards for impact measurement.

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The focus has also shifted towards foundations and philanthropic organizations, which contributed almost $30.5 billion in grants between 2002 and 2012. With the sustainable development goals being in the picture for the next 13 years, the estimated funding through philanthropic societies is set to hit $364 billion.

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 The principles of circular economy can be employed to transform production and consumption in the ocean industry. Businesses can use the circular economy approach to create positive blue impact and social capital.
(Disclaimer: All information quoted here is linked to the respective source articles)
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