The six steps to make for achieving the SDGs
Achieving the Sustainable Development Goals (SDGs) calls for concerted efforts to stimulate private sector investment in numerous SDG-linked sectors: infrastructure development, health and education, agriculture and food security, and a host of other areas of social, environmental and economic challenges.
The United Nations Conference on Trade and Development’s (UNCTAD) action plan for private investment in the SDGs puts forward policy options in the form of focused action packages in specific segments of SDG investment, designed to promote a “big push” by the international community and national policy makers for private investment in sustainable development:
- Establishing investment agencies specialized in creating and marketing pipelines of bankable projects in SDG sectors, bringing together specialist expertise propped up by technical assistance.
- Restructuring investment schemes to create incentives that facilitate sustainable development projects could help to mobilize finance for the SDGs.
- Using regional and South-South investment compacts to inject impetus into SDG investment, especially for cross-border infrastructure development and regional clusters of firms operating in SDG sectors (e.g. “green zones”).
- Forming new types of partnerships between outward investment agencies in advanced countries and investment promotion agencies in developing countries to help to market SDG investment opportunities while facilitating joint monitoring and impact assessment.
- Enabling innovative financing mechanisms and reorienting financial markets to advance sustainability.
- Establishing a curriculum for business schools worldwide to change the business mindset and raise awareness about investment needs and opportunities in low-income countries.
The 2030 Agenda for Sustainable Development is the most ambitious development plan yet to be embarked upon by the international community. Pooling global resources and ideas in a concerted manner will ensure efforts to put the world on a more sustainable growth path.