SDG Summit and India on SDG Flashcards
NEWS
Recently, the Global leaders expressed apprehension regarding the slow progress in achieving Sustainable Development Goals (SDGs) during the SDG Summit in New York, the US.
What are the Key Highlights of the SDG Summit 2023?
Acknowledging Funding Gap:
The annual SDG funding gap, which was USD 2.5 trillion before the pandemic, has now increased to an estimated USD 4.2 trillion, emphasizing the urgent need for substantial investment in achieving the SDGs.
Addressing the Finance Challenge:
The leaders stressed the importance of the Addis Ababa Action Agenda (AAAA) in achieving the 2030 Agenda, emphasizing efficient use of all financial flows, public and private, for sustainable development.
They called for swift implementation of the UN Secretary-General’s proposal for an SDG stimulus, a significant increase in funding by USD 500 billion annually.
Multilateral Actions and Debt Swaps:
To strengthen SDG implementation, the leaders urged multilateral actions and coordination by all creditors, emphasizing scaling up Debt Swaps for SDGs, including climate and nature-related debt swaps.
Debt swaps provide opportunities for raising capital in low-income countries to address environmental and other policy challenges and support green growth.
Impact of Covid-19:
Integrating Climate Action and Disaster Risk Reduction:
Commitment to 2030 Agenda:
The leaders expressed deep concern about the state of SDGs at the halfway point of their implementation, highlighting challenges such as poverty, forced relocations, disparities, and the adverse impacts of climate change.
What are the Concerns Related to Progress in SDG?
Lack of Progress and Commitment:
Despite commitments, the progress towards meeting the 169 targets comprising the 17 SDGs is just 15%, with some areas regressing.
Funding Adequacy and Accessibility:
The investment gap in achieving the SDGs in developing countries is estimated to be over USD 4 trillion, significantly higher than earlier estimates, especially with a substantial portion required for the energy transition.
Dis-synergies and Barriers:
Five dis-synergies are identified in SDG interventions, including resource allocation, creation of enabling environments, co-benefits, cost-effectiveness, and saturation limits.
Policy implementation pose challenges, particularly in achieving renewable energy targets and small-scale applications due to a lack of integration and clear objectives.
Climate Change and Environmental Impact:
Sustainable Development Report 2023
The Sustainable Development Report (SDR) reviews progress made each year on the Sustainable Development Goals since their adoption by the 193 UN Member States in 2015. At the halfway mark to 2030, the Sustainable Development Report 2023 takes stock of progress made and discusses priorities to restore and accelerate SDG progress. Published on the eve of the 2023 Paris Summit for a New Global Financial Pact, this year’s edition focuses specifically on the need to scale up development finance and to reform the global financial architecture to support the SDGs.
Countries are ranked by their overall score. The overall score measures the total progress towards achieving all 17 SDGs. The score can be interpreted as a percentage of SDG achievement. A score of 100 indicates that all SDGs have been achieved.
top performer- FINLAND
INDIA’S RANK-112
