As part of the high-level week of the General Assembly of Nations, the Summit on the Sustainable Development Goals (SDGs), which aim for a fairer world by 2030, took place in New York on September 18 and 19. And although they remain valid as “the promise of a world of health, progress and opportunity for all”, their implementation is already in doubt.
Of the 169 goals included in the 17 SDGs, “only 15% are on track, while many are going backwards,” warned António Gutérres, Secretary-General of the United Nations, during the meeting that brought together the heads of state and government of various nations.
Yesterday, Monday, a political declaration was signed in which the Heads of State and Government recognized that the SDGs cannot be achieved without a massive promotion of the Sustainable Development Goals, encouraging action and expressing that “the time has come”, concrete To take steps to implement commitments to enrich the future of humanity Investments necessary to achieve a fair and equitable energy, food and digital transition and transform education and social protection in developing countries.
The focus of the document is on implementation and, above all, on development financing, for which an urgent need to allocate $500 billion annually.
Against this backdrop, Brazil, one of the region’s largest developed economies according to Statista, is calling on rich countries to pay for the global energy transition as underdeveloped countries fail to come up with the trillions of dollars needed to prevent global temperatures from rising. more than 1.5 degrees Celsius.
“They cannot finance a Europe- and United States-style energy transition” and need help from the developed world, Brazil’s Minister of Mines and Energy, Alexandre Silveira, said in an interview in New York yesterday.
Yesterday, Monday, before raising the forecast for economic growth in 2023, Brazil’s Finance Minister Fernando Haddad mentioned to journalists that the proposal to issue its first sustainable government bonds, worth around $2 billion, was scheduled for September or October.
It should be recalled that, according to the Economic Commission for Latin America and the Caribbean (ECLAC), 32% of the targets are classified in green, meaning that they would probably be achieved, 46% in yellow and the remaining 22% in red. , that is, they move away from the target.
The situation in Latin America and the Caribbean appears to be somewhat better than the global average, although with many challenges.
However, as mentioned, national contexts must be taken into account Borja Santos Porras, Vice Dean and Professor of the IE School of Politics, Economics and Global Affairs (IE University): “The debt crisis exacerbated by the pandemic, rising interest rates, inflation and growing trade, as well as geopolitical tensions between blocs, such as the rivalry between the United States and China, underscore the importance and necessity of a multilateral system.” Implementation of the in support “The reforms of global governance that are necessary for the agenda, especially in highly indebted countries.”
The Development Bank of Latin America and the Caribbean (CAF) has committed to allocating 40% of its approvals to green finance by 2026.