Excellencies, Distinguished guests, Dear Colleagues,
Welcome to the Summit of the Future Action Days and thank you for joining us for this session devoted to sustainable development, intergenerational solidarity and the future we can build together.
We meet at a pivotal time. With only six years to go, the rallying cry of Agenda 2030 – leaving no one behind – has fallen abysmally short. Only 17 percent of our SDG targets are on track.
Hunger is rising. Fossil fuel use and global temperatures are soaring. Conflicts are spreading. And the fight for gender equality is floundering. Worst of all, our commitment to leave no-one behind – the rallying cry of Agenda 2030 – has fallen short.
In 2015, the world’s poorest countries were converging on incomes in the richest countries, albeit slowly.
Today, economic fortunes around the world are diverging.
Of the world’s poorest 75 countries, a third are poorer today than they were five years ago.ÌýÌýÌýÌýÌý
This simply cannot go on.
Over the last 9 months, Member States have been negotiating the Pact for the Future and the state of development today has been at the heart of the discussions;
Indeed, a Summit that asked Member States to think about emerging and future challenges, from artificial intelligence, to modern weapons, and humans’ forays into space, has prompted reflections on the state of development today:
How new technologies might supercharge development progress, or create new and lasting inequalities;
How delivering on our sustainable development goals can renew a sense of trust and build a foundation of global solidarity. that can help us confront new threats together;
How the need for strong multilateral cooperation to deliver sustainable development in a world increasingly shaped by global shocks and risks.
Delivering the SDGs is vital, but will require deeper cooperation, especially when it comes to finance.
Finance is the engine for the SDGs. Yet the SDG financing gap has ballooned over the last several years – and is now estimated at between 3 and 5 trillion dollars a year.
We need bold investments in all areas including food security, green energy and digital connectivity.
But the challenge goes beyond a simple problem of dollars and cents.
The international financial system cannot provide the safety net that many countries – particularly developing countries – need today to pursue the SDGs. Ìý
On this issue, the Pact of the Future sends an unequivocal message: it’s time for an urgent reform of the international finance architecture.
To strengthen the voice and representation of developing countries;
To mobilize far greater levels of financing for the SDGs, and direct that financing to countries most in need;
To enable countries to borrow sustainably, and with confidence, to invest in their long-term development;
To provide effective and equal support to countries during systemic shocks;
And to meet the urgent challenge of climate change.
Over the next few hours, we will hear about some of the exciting developments already underway, such as reforms to make our multilateral development banks bigger, better and bolder.
Or proposals for global solidarity levies to help finance underfunded global investments in a way that is fair and transparent. And new ways to boost private investment in the SDGs.
With bold goals we need bold new ideas. Today’s event is a platform for the brilliant minds on this topic, from stakeholders to experts, to share their ideas.
We will hear from academics developing new proposals; civil society members working directly with communities; and policymakers navigating policy and regulatory hurdles.
The ambition and the momentum doesn’t stop today. At next year’s Fourth International Conference on Financing for Development, we must take forward this momentum to deliver a new financing framework that can deliver the goals and carry us into the next decade.
So today, I hope you will join me in a commitment to invest in hope, invest in sustainable development, and invest in a better future for all.
Thank you.
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