Sustainable Development Goals - Finding the funds to make an impact

The UN's 2030 Agenda for Sustainable Development lays out a vision for reconciling the imperative of global economic growth with the urgent need to secure the continued sustainability of human life on earth. The stakes could not be higher. But realising this vision will require massive investment. To date, funds allocated to the achievement of the 17 Sustainable Development Goals (SDGs) have fallen short of what's needed. It's clear that public finance will not suffice: the private sector must step in, or the current shortfall will persist.

"We need bold action by private sector trailblazers," says Antonio Guterres, UN Secretary-General. 

As part of his roadmap for financing the 2030 Agenda, UN Secretary-General Antonio Guterres convened the first meeting of the Global Investors for Sustainable Development Alliance on 16 October. The business leaders appointed to this panel are tasked with a singular challenge: how escape the trap of chasing short-term returns and unlock essential funding for the Sustainable Development Goals. 

For at least the last four years since the 17 Sustainable Development Goals were adopted, it's widely accepted that achieving their aims will be indispensable to the future of the earth and its peoples. What wasn't fully appreciated was the urgency needed in reaching them. A report backed by the world’s major climate science bodies, and released ahead of the UN Climate action summit in September, states climate is changing faster than forecast, and current plans would lead to ‘catastrophic’ global temperature rise. 

From extremes in temperatures to melting arctic ice to widening inequality, Guterres says time is of the essence and the need for international cooperation is unprecedented. He acknowledges that financing sustainable development is going to be tough, with estimated funding going into trillions of dollars per year towards health, education, climate action, and infrastructure. 

According to the World Meteorological Organisation, July was officially the hottest month on record, since record-keeping began 140 years ago. WMO also warns that the last time we saw global CO2 at levels recorded this year, was three to five million years ago. Then the planet looked very different from the beautiful shapes of green and blue, now synonymous with earth and life. They estimate that the sea level was ten to twenty metres higher, and the globe was two to three degrees hotter. 

It's against this backdrop that the need for global cooperation becomes acute. The Global Investors for Sustainable Development (GISD) have a mere two years in which to come up with some actionable recommendations- and really, their work couldn't be more timeous or critical. 

Investec has chosen to prioritise six of the 17 global Sustainable Development Goals. "This decision was based on our business strategy to 'not be all things to all people' and we feel that honing in on areas that align with our business model and future growth strategy, maximises our overall impact," says Tanya dos Santos, Investec's global Sustainability head. 

Dos Santos goes on to explain that financing innovative solutions that enable access to clean water and affordable energy as well as providing access to quality education are all vital for economic growth and job creation. At the same time, Investec has established expertise in building and supporting infrastructure solutions and funding sustainable cities and stronger communities. Investec believes that the financial sector has a vital role to play and their commitment is anchored in a partnership approach.

"We want to use the hearts and minds of our people and the financial expertise of our various businesses and partners to ensure a better, more sustainable world," says dos Santos.