Financing gaps are deepening, according to a new U.N. report published Tuesday, and it's not great for the SDGs.
“As we are coming up to the halfway point of financing the world’s Sustainable Development Goals, the findings are alarming,” U.N. Deputy Secretary-General Amina J. Mohammed said in a press release. “There is no excuse for inaction at this defining moment of collective responsibility, to ensure hundreds of millions of people are lifted out of hunger and poverty. We must invest in access for decent and green jobs, social protection, health care and education leaving no one behind.
The report championed investments in resilient and clean infrastructure, social protection or public services, some of which is already taken up by the private sector in various ESG and corporate social responsibility efforts. The report also informs the SDG Investment Fair, which brings together government officials and investors to direct financing flows toward sustainable development.
Among the positive notes, the European Union’s recovery plan and the Jobs Act in the U.S. were highlighted as strong performances. The amount of sustainable bonds issued doubled to more than $1 trillion, while sustainability-themed funds grew 62 percent from 2020. Meanwhile, private equity and venture capital investment in developing countries reached a record $230 billion .
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