UN Secretary-General Releases Strategy for Financing 2030 Agenda
Americas, Built Environment, News, Universal Design, October 5 2018
NEW YORK, USA: The UN Secretary-General has released a four-year strategy for financing the 2030 Agenda for Sustainable Development. The Strategy underscores the UN’s critical role in supporting and accelerating the mobilization of finance and focuses on three objectives to accelerate progress from global to local levels, linked to areas where the Secretary-General’s leadership can galvanize action.Titled, ‘The Secretary-General’s Strategy for Financing the 2030 Agenda for Sustainable Development (2018-2021),’ the Strategy was released on the occasion of a UN High-level Meeting on the same topic on 24 September 2018, at UN Headquarters in New York, US. A synopsis was released on 17 September 2018 as part of the webpage for the meeting.
The Strategy’s first objective is to align global financial and economic policies with the 2030 Agenda. The Strategy argues that, when public policies are “firmly and consistently formulated to achieve sustainable development,” such policies can realign incentives and alter market perceptions of risk. At the same time, despite growing private interest in impact and sustainable investing, there are not yet globally agreed definitions of concepts and existing sustainability principles have not led to standards to guide sustainable finance, including sustainability bonds, SDG bonds or green bonds.
To address these challenges, the UN is working with global policymakers and regulators to increase understanding on the role of public policy in developing a sustainable financial system, including through framing discussions on definitions, principles and guidelines and developing standards to facilitate the deepening of markets for sustainable finance. In addition, private financial institutions are working with the UN to understand the relevance of environmental, social and governance challenges to finance, such as considering how to address sustainably in private enterprise and finance business models.
For the full article, visit the source: IISD SDG Knowledge Hub
Re-posted with permission