Sustainable development through global partnerships
Introducing SDG 17
Leaders across the world have a monumental opportunity to reduce inequality, end poverty, protect the environment and promote justice and peace in implementing Sustainable Development Goals.
By agreeing on sustainable common goals, it will be the first time all the United Nations Member are trying to go in the same direction.
Progress on some means of implementation targets is moving rapidly: personal remittances are at an all-time high, an increasing proportion of the global population has access to the Internet and the Technology Bank for the Least Developed Countries has been established. Yet, significant challenges remain: Official Development Assistance (ODA) is declining, private investment flows are not well aligned with sustainable development, there continues to be a significant digital divide and there are ongoing trade tensions. Enhanced international cooperation is needed to ensure that sufficient means of implementation exist to provide countries the opportunity to achieve the Sustainable Development Goals.
Since 2015 we don’t see any more single nation/government going on their own but now they are acting for the same concerns.
Unmatched in their ambition and scope, the SDGs are poised to test the determination of the global community over the following fifteen years in regards to the global endeavor to improve livelihoods for all. Any success or even failure will largely depend on SDG number 17, which aims to strengthen the means of implementation and revitalize the universal partnerships for sustainable development, to help governments and stakeholders to make the SDGs a reality.
One important aspect of SDG 17 is that it binds the other goals together. For one, it is quite content heavy as compared to other goals and subdivided into five crucial components; finance, capacity building, systemic issues, technology, and trade. These components include 19 targets from which and for example : mobilize additional financial resources for developing countries from multiple sources (17.3), enhance policy coherence for sustainable development (17.14), enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology and financial resources, to support the achievement of the sustainable development goals in all countries, in particular developing countries (17.16), encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships (17.17).
The private sector has a very crucial role in the realization of SDG 17, provided it does not pursue narrow-minded agendas. For instance, private philanthropy offers a great force in supporting a wide range of civil society projects for achieving social justice. Even the Ford Foundation has started shifting its whole agenda towards dealing with several kinds of inequality. More importantly, private companies and businesses can help in supporting women’s empowerment and transformative programs in education.
Also, companies have ways of evaluating their broader effect on environmental and human issues of great importance and creating a benchmark for judging their overall contribution towards universal development. In effect, they can lead the way in developing certain SDG aspirations into actual progress for the people on the ground.
Even though companies can do so much on their own, they will require partners as well, which presents a great opportunity for taking the global partnership agenda further than high hopes to actual reality. This will lead to new and not yet imagined deals and will create opportunities for many stakeholders. In this context, the FARAD Finance Forum (www.faradfinanceforum.com) event “Green Ocean and the SDGs opportunity” held September 17th th in Cercle Cité Luxemburg is the perfect illustration of partnership in order to share knowledge and best practices in the Finance industry to support the SDGs.
There is also another key support which is Partnerships for SDGs online platform. This is United Nations’ global registry of voluntary commitments and multi-stakeholder partnerships, facilitating global engagement of all stakeholders in support of the implementation of the Sustainable Development Goals. The Partnerships for SDGs platform also facilitates the sharing knowledge and expertise among multi-stakeholder SDG-related partnerships and voluntary commitments, and for providing periodic updates on their progress.
As we all know, there is still a lot that must be done by all concerned parties to create the practical partnerships that will ensure the realization of SDG 17 and broader accomplishment of all SDGs. This is definitively time to be concretely sustainable, but only real engagement from everyone will lead to this success.
Head of Portfolio Management, FIA Asset Management