5 ways to help fund the Sustainable Development Goals

Written by Adis Dzebo

Thursday, 24 September 2015 09:46

sei blog dzebo 5ways 350

Relying too heavily on international private finance to fund climate action and other sustainable development in developing countries is a mistake. Instead, Least Developed Countries and Small Island Developing States need help to mobilize domestic finance.

Just days away from a historic adoption of the Sustainable Development Goals, the plans in place to finance development and low-emissions energy are woefully inadequate. Progress in reforming them have been too little, too late.

Growing pressure on public finances, particularly in high-income countries, means states must do all they can to minimize transaction costs, enhance transparency, and apply lessons learned in one setting to others.

Private finance is being viewed as the saviour. But is this misplaced? The $100 billion per year promised by developed countries to the United Nations Framework Convention on Climate Change (UNFCCC) by 2020 to fund climate action in developing countries is to come from “all sources”. But to date, there is little to show.

Read more »

This is part of a series on the Global Goals for Sustainable Development appearing on the World Economic Forum's Agenda blog. It focuses on Goal 13 – Take urgent action to combat climate change and its impacts.

Source: Agenda blog, World Economic Forum
Language: English

Read more about SEI's engagement with the Global Goals and Agenda 2030 »