Unlock investment in the SDGs: Fostering innovative financing and strengthening global debt sustainability

The 13th informal meeting of High-Level Political Forum 2021 explored policy recommendations to scale up public and private financing and unlock catalytic investments for the achievements of the SDGs.

The global debt sustainability challenges

The lack of fiscal space and the mounting risk of sovereign debt distress has become critical stumbling blocks for developing countries to achieve the 2030 Agenda. Under the brutal hit of the COVID-19 pandemic, countries experience unprecedented collapses of domestic revenue while weighing with urgent financial need to address the overlapping issues of health, climate, environment, recovery and inequalities. Unfortunately, while most developed countries have progressively moved on through advanced technological inputs and plentiful fiscal backups, the developing world continues its financial dilemma in balancing their mounting debt payments and addressing their severe developmental crisis, which not only upends their economic recovery, but could also generate new debt crisis. As of 2020, a significant record of sovereign credit rating downgrades and defaults was observed in many LDCs and MICs, causing large debt overhangs and chronically restrained economic recoveries for the subsequent years. Governments leave no choice but to continue borrowing and investing, thus lead to a vicious debt cycle with everlasting liquidity shortage and debt vulnerability, which also widens the global financial gap of recovery and SDG achievements. It is thereby essential for global actions to recognize the systematic issues of the current economic conjuncture and develop new financing instruments to pave an equal-paced COVID-19 recovery and SDG achievements for all.

Transformative measures to unlock public and private SDG investments

To foster innovative and transformative measures in strengthening global debt sustainability and creating fiscal space for SDGs investments, international debt architecture reform and sustainable debt management are imperative, which include supporting information, coordination, adaptation, and equity. Increasing debt information requires high transparency from governments, which could not only facilitate informed lending decisions from the creditors, but also increase governments’ accountability in financial transactions. Coordination-wise, effective partnerships between multilateral financial institutions, development partners, debtors and creditors are needed for more sustainable and effective reform. Moreover, when considering states’ eligibility for debt assistance, it is paramount to recognize countries’ vulnerabilities rather than solely their national income, which could lead to a more targeted and inclusive service for those who needed. As for equity, it is of utter urgency to ensure greater participation from LDCs and MICs in the international debt architecture to rebalance the global political decision-making dynamics. In addition, effective combinations of private-public investments are equally crucial for SDGs advancements. Innovative financial instruments including sustainability/green-linked bonds are excellent means to incentivize local and foreign private investments and help developing countries to close the SDG gaps. Other measures such as progressive taxation and digital market transformation can also effectively elicit domestic resources for further SDGs investments. 

On the one hand, the effectiveness of SDGs investments heavily lies on governments’ willingness to undertake policy reforms and transform the economy in a sustainable direction. On the other hand, it is a global responsibility to ensure all emerging markets and developing countries can be adequately financed under a sustainable international debt architecture for an equal opportunity to recover and achieve the SDGs.

References:

https://sustainabledevelopment.un.org/index.php?page=view&type=20000&nr=7194&menu=2993

https://www.brookings.edu/research/debt-distress-and-development-distress-twin-crises-of-2021/
https://unctad.org/debt-and-finance/home

Meeting Title: High-level Political Forum on Sustainable Development (HLPF 2021), 13th Informal meeting

Date/Location: Monday, July 12, 2021; 09:00-11:30; The meeting was held virtually

Speaker:

Mr. Sergiy Kyslytsya (Ukraine), Vice President of ECOSOC;

Mr. Homi Kharas, Senior Fellow and Deputy Director for the Global Economy and Development program, Brookings Institution;

Ms. Alicia Bárcena, Executive Secretary of ECLAC;

Ms. Joyce Chang, Managing Director and Chair, Global Research, JP Morgan;

Ms. Anna Gelpern, Professor at Georgetown University and a non-resident senior fellow at the Peter G. Peterson Institute for International Economics; etc.

Written by: WIT-UN Representative Iris Sit

58th Session of the Commission for Social Development (CSocD58)

Source: http://www.un.org/development/desa

The Commission for Social Development (CSocD58) is the advisory body responsible for the social development pillar of global development within the United Nations. The commission is currently holding its 58^th Session at the United Nations headquarters in New York from February 10- 19^th2020. Also, as a highlight during the 2020 session, the Commission for Social Development is celebrating its 75^th anniversary, and the 25^th anniversary of the Copenhagen Declaration for Social Development.

The theme for the 58^th Session of the Commission for Social Development is “Affordable housing and social protection systems for all to address homelessness”

During the first meeting of the 58^th Commission for Social Development, H.E. Mr. Wulfran announced the newly elected officers, and vice presidents in different regions. United nations Under-Secretary-General for Economic and Social Affairs, Mr. Zhenmin, in his remark showed the follow-up to the World Summit for Social Development and the twenty-fourth extraordinary session of the General Assembly with the Priority theme: “Affordable Housing and Social Protection Systems for All to Address Homelessness”. He mentioned the novel Corona virus, which is impacting China, and spreading all around the world. Global efforts to prevent the novel corona virus is necessary for social protection. The effort for china in global health and support to outbreak the novel Corona virus soon. Provision of adequate, safe and, affordable housing, expansion of social impact, adoption of climate change, partnership with government, and civil society is the priority theme for social protection, development, and policy.

Chair of the NGO Committee for Social Development, Mr. Perell recognized that the implementation of the Copenhagen Declaration and the Programme of Action, the Madrid International Plan of Action on Ageing, Action for Youth, four the objectives of the International Year of the Family and their follow-up processes. He also highlighted the role of non-governmental organizations, civil society actors, in advancing the implementation of the Copenhagen Declaration and the Programme of Action and, in this respect, the work of the Commission. The important thing is encouraging the member state to find the tool and take advantage to consider a new approach for the decade of action delivery for social hosing development with the universal definition for homelessness, academic study, and policy declaration.

https://www.un.org/development/desa/dspd/2019/10/inclusive-united-cities/

Representative in Youth, Ms. Tan Ja Yi recognized the homeless social protection services with member state commitment to invest prioritize and underrate and lifelong system for youth. She pointed out providing to every child in the same line is need able to give good nutrient food, financial aid for high education, etc. According to UNICEF reports, the government programs still challenge to provide education to all children go the school and need some resources to analyze. She talked about the review of relevant United Nations plans and programs of action about the situation of social groups, especially youth and women.

Director of DESA’s Division for Inclusive Social Development, Ms. Bas briefly emphasized the Social dimensions of the New Partnership for Africa’s Development. The 2030 Agenda for Sustainable Development and the African Union’s Agenda have triggered progress and shifted the way African governments and their development partners consider about the gap’s challenges related to social, economic, and political transformation in Africa. For the National dimension of a new partnership in African, we should produce social progress, political development of Africa, improve the living standard and going forward to prioritize their policy for sustainable growth, and universal education or health.

She pointed government leaders and decision-makers at national level should continue to champion sound governance and focus on the provision of public goods and services. She also highlighted the policy tool for portable housing can affect society and show the result by implementing the social framework. United Nations system organizations and African Union institutions should continue to establish more formal and consistent coordination.

Meeting: 58th session of the Commission for Social Development

Date/Location: Monday 10th February 2020; 10:00 am to 1:00 pm; Conference Room 4, United Nations Headquarters, New York, NY

Speakers
H.E. Mr. Gbolié Desiré Wulfran IPO, Chairperson of commission for social development

Mr. Liu Zhenmin, Under-Secretary-General for Economic and Social Affairs 

Daniel Perell, Chair of the NGO Committee for Social Development.

Olivia Tan Ja Yi, Representative in Youth and Yale University

Daniela Bas, Director of DESA’s Division for Inclusive Social Development

Written By: WIT Representative Huijun Edelyn Park

People and Nature – Solutions to Accelerating Progress Towards the 2030 Agenda and Averting Planetary Catastrophe

Co-organised by Costa-Rica, the Delegation of the European Union with YouNGO, UNEP, WWF and UNDP, delegations and civil organizations convened to discuss solutions that can accelerate progress towards achieving the SDGs by 2030. The meeting specifically called for collaborative climate action, where the balance between nature and humans can then be restored and sustained.

Illustrating the Power of Citizen Generated Data

Co-organised by TAP Network, World Vision, and Global Partnership for Sustainable Development Data, the HLPF side event “Illustrating the Power of Citizen Generated Data for Improved Public Service Delivery and SDG Accountability” was held for discussions about putting people at the center of the data revolution to take place. The panel particularly spent time illustrating the complementary value of citizen generated data to traditional statistics.

“Getting to Know the Economic and Social Council System in the Sustainable Development Goals Era”

The meeting convened by the President of ECOSOC H.E. Ms. Inga Rhondo King as part of the Orientation Course on the Economic and Social Council for members of the Council. The session was the first part of a series of discussions with members of the council on ‘Getting to Know ECOSOC in the SDG Era’. In her remarks, H.E. Ms. Inga said that the MDGs Era was a period of experimentation where we faced global challenges. She added that to strengthen the work of ECOSOC, three events will be held this year: The Annual youth forum, the High-Level Political Forum (HLFP) on Sustainable Development and the SDGs Fair.

Delegates from different member states in attendance discussed and asked questions on how to strengthen the ECOSOC system and its governance. The secretary of ECOSOC, Ms. Emer Herity highlighted the role of ECOSOC, and explained the structures and related platforms, its mandates and outcomes, and the working methods and procedures of ECOSOC system in the context of work program and agenda for the 2019 ECOSOC cycle. In another statement, Ms. Emer added that the council offers an inclusive space to exchange experiences, knowledge and ideas for a better result on how ECOSOC contributes in advancing the integrated implementation of the 2030 Agenda and related agendas. She ended her remarks by stating that the specific global functions of ECOSOC will bring value to, and effectively support, national level implementation of the 2030 Agenda.

In another remark, Ms. Leslie Wade Chief of International Indigenous Speaker Bureau/ Office of Intergovernmental support (IISB/OISC) discussed the implementation of the work of ECOSOC’s segments and Forums such as Financing for Development Forum (FFDF), Youth forum, Partnership forum, Development Cooperation Forum (DCF) and the Multi-stakeholder Forum on science, Technology and Innovation (STI forum)

Meeting: Informal meeting on “Getting to Know the Economic and Social Council System in the Sustainable Development Goals Era”

Date/Location: Wednesday 23th January 2019; Trusteeship Council Chamber, United Nations Headquarters, New York, New York

Speakers:

-The president of ECOSOC H.E. Ms. Inga Rhonda King

-Ms. Marion Barthelemy, Director, Office of intergovernmental support and Coordination for Sustainable Development, Department of Economic and Social Affairs (OISC/DESA)

-H.E. Marco A. Suazo, Head-of-office, UNITAR New York

-Ms, Emer Herity, Secretary of ECOSOC and the Second Committee

-Ms, Leslie Wade, Chief, IISB/OISC

-Mr. Huanyu Liu Policy Integration Unit, Financing for Sustainable Development Office (FSDO)

-Representative from the Division for the Sustainable Development Goals (DSDG)(TBC)

Written By: WIT Representative Kim Juyeon

Third-annual multi-stakeholder High-Level forum on Science,Technology and Innovation

https://sustainabledevelopment.un.org/TFM/STIForum2018#

 

This forum was attended by member states, nonmember states, and stakeholders. The forum began with representatives from Ghana, Jamaica, and Japan expressing the state-specific problems that need to be addressed to establish STI roadmaps that further SDGs. For example, the Jamaican representative recognized the small size of Jamaica as well as the Caribbean, calling for a competitive and comparative advantage take with STI as this allows for stronger integration with the rest of the world. The financial sector speakers called for investing in STI partnerships and capacities and working with private tech partners.

The next session focused on the evident potential indigenous knowledge that can fulfill SDGs. Speakers from indigenous populations stressed that traditional knowledge needs to be viewed as equal to technology, or categorized as a “specific knowledge system.”  A final proposal of engagement with indigenous populations in order to reach SDG goals through science, innovation, and technology of indigenous people was stated.

The final discussion raised the question of how to effectively facilitate the TFM or the Technology Facilitation Mechanism, a method of sharing information, practices, and policies across  Member States, stakeholders, the private sector, and other entities. There is a gap between the solutions and the ability to “deploy” solutions. All speakers agree that improvement and collaboration is needed to have a successful TFM.  Technology is an underrepresented crucial factor in reaching the SDGs and more needs to be done.

Meeting​:  Third-annual multi-stakeholder Science,Technology and Innovation high level forum focusing on Sustainable Development Goals 6,7,11,12, and 15

Date/Location​: Wednesday  6th June 2018; 10:00 to 13:00; Conference Room 4, United

Nations Headquarters, New York, NY

Speakers​:

H.E. Ms. Patricia Apiagyei,the Deputy Minister for Environment, Science, Technology and Innovation

Mr. Teruo Kishi, Science and Technology Advisor to the Minister for Foreign Affairs

Ms. Aisha Jones, Director of Research, National Commission on Science and Technology

Mr. Mahmoud Mohieldin, Senior Vice President for the 2030 Development Agenda, the World Bank Group

Ms. Minnie Degawan, Director, Indigenous and traditional peoples programme in D.C

Mr. Joel Heath, Executive Director, The Arctic Eider Society

Mr. Mulubrhan Gebremikael, UNEP-IEMP (International Ecosystem Management Program)

Ms. Jozelin Soto, Milpa Maguey Tierno de la Mujer Sss

Mr. Alfred Watkins, Chair, Global Solutions Summit, USA

Ms. Simonetta Di Pippo, Director of the United Nations Office for Outer Space Affairs (UNOOSA)

Ms.Veerle Vandeweerd  Policy Director for G-STIC

Mr. Rafat Al-Akhal, Secretary for Pathways for Prosperity

Written By​: WIT Representative Mariam Elsaker

Women and Girls in Science: Equality and Parity in Science for Peace and Development

In commemoration of the third international day of Women and Girls in Science, organizations in the United Nations held a forum regarding equality and parity in science for peace and development.

The forum began with testimonies from girls who had faced gender-specific hardships. Many speakers alluded to historical female figures that encouraged them to persevere against suppression. Two men also spoke, sharing stories of interactions with females in school and work, complimenting them for their intellect and uniqueness.

Mr. Seth introduced the second half of the forum, claiming that more important than the awareness was the identification of specific solutions to the gender-based issues that women are facing. Mr. Seth also stated that science offers great potential for the completion of the SDGs, but will offer even more potential with the inclusion of women.

Ms. Luo alluded to her homeland, Zambia, and the factors that inhibit women from securing an education, including: child marriages, socialization, stereotyping and colonial curriculum. Ms. Luo called for less talk and more action, as well as bringing this movement on an international scale.

Mr. Le Feuvre presented a brief overview of research that WIPO conducted to highlight the gender status of women in STEM. The data demonstrated an increase of international women patent applications, while only 30% of international patents are shared with women. The data also compared shared patents with women between specific fields of technology, pinpointing pharmaceutics to be the highest and construction engineering to be the lowest.

Several other women spoke regarding gender disparity, including a female researcher at Mount Sinai who was robbed of her research by a male supervisor and struggled to retrieve it—an example of what female scientists endure. 

Meeting: Forum on —”Women and Girls in Science: Equality and Parity in Science for Peace and Development”

Date/Location: Thursday, February 8, 2018; 10:00-13:00; ECOSOC Chamber, United Nations Headquarters, New York, NY

Speakers: Mr. Nikhil Seth, Director of UNITAR; Nkandu Luo, Minister of Higher Education of Zambia; Bruno Le Freuvre, WIPO Statistical Analyst

Written By: WIT Representative Timothy Stephens

Overview of the 2017 High-Level Political Forum (HLPF) on Sustainable Development

Theme: “Eradication Poverty and Promoting Prosperity in a Changing World”

Since the adoption of the 2030 Agenda on Sustainable Development during the United Nations Sustainable Development Summit on 25th September 2015, the first HLPF on Sustainable development was held in 2016 with theme “Ensuring no one is left behind”. This theme was featured in almost all the meetings held at the United Nations throughout the year 2016 and helped some member state and organizations to push for the implementation of the SDGs.
This year, the HLPF on sustainable development convened under the auspices of the Economic and Social Council (ECOSOC) from July 10th to July 19th of 2017 brought together not only Ministers from member states, but also NGOs, Civil Society and Stakeholders, with the theme “Eradicating poverty and promoting prosperity in a changing world”. The 2017 HLPF included a three-day ministerial meeting where member states presented their reviews. More countries were seen to be committed to the implementation of the sustainable development goals (SDGs) and volunteered to present their national voluntary reviews during the 8 days HLPF session. In total, 44 countries volunteered to present their voluntary national reviews (VNRs) during the 2017 HLPF compared to only 22 countries that volunteered to present their VNRs in 2016.

The following set of goals were reviewed in detail during the session, including Goal 17

The voluntary national reviews (VNRs) enable countries to share their experiences on the implementation of the 2030 Agenda, including their successes, challenges, and lessons learned during the HLPF. The VNRs also facilitates partnerships including the participation of major groups and other stakeholders during the HLPF.
In brief, the HLPF is a central platform for follow-up and review of the 2030 Agenda and the SDGs. During the HLPF, Ministers adopts a ministerial declaration, which is expected to provide political leadership, guidance, and recommendations on the implementation of the 2030 Agenda. It also addresses new and emerging issues with respect to the implementation of the SDGs and highlights country experiences.
Written by WIT Representative: Fred Yonghabi

 

Trafficking in Persons and the Sustainable Development Goals to End the Scourge of Trafficking in Women and Girls

This meeting addressed the troublesome indication that, while gender equity is critical for the successful implementation of many Sustainable Development Goals, little has been done to address global trafficking of women and girls.

Trafficking of human bodies is a complex form of organized crime driven by extreme profit potential. A majority of trafficked women and girls are sold into sex slavery. Unlike illicit drugs, which have a one-time use, a human body can be sold to complete a task repeatedly. The only way to take down traffickers is to follow the transference of money in both legal and illegal markets.

The speakers collectively emphasized the importance of the Global Plan of Action to Combat Trafficking in Persons, which was adopted by the General Assembly on 30 July 2010. The Plan is currently under review, and the panelists ask member states to issue political declarations to guide future U.N. actions to combat trafficking of women and girls.

Regulation of trafficked women and girls is complicated by geographic location and systems of inequality that vary among the countries of the world. Still, inter-institutional bodies must cooperate to combat this issue. The question that we must now ask is: what are developing countries doing to combat demand for cheap sex labor, and how can developed countries help stop the trafficking tide?

Meeting: Trafficking in Persons and the Sustainable Development Goals to End the Scourge of Trafficking in Women and Girls

Date/Time: 21 June 2017; 13:15-14:30; Conference Room 12, UNHQ, New York, NY

Co-organized by the Permanent Missions of Panama and Sweden, the United Nations Entity for Gender Equality and the Empowerment of Women (UN-Women), the United Nations Office on Drugs and Crime (UNODC) and Equality Now and Coalition Against Trafficking in Women

Speakers: Christine Lahti, member of Equality Now advisory board; Simone Monasebian, Director of ODC in New York; H.E. Laura Flores, Ambassador to permanent mission to the United Nations, Panama; H.E. Olof Skoog, Ambasador, Sweden; Ruchira Gupta, Founder Apne Aap Women Worldwide

Written by: WIT Representative Mariel Brunman

How scientific knowledge on oceans contributes to the implementation of national action plans on climate and human-induced changes

The Ocean Conference held at the United Nations from 5-8 June, 2017 brought together many experts on oceans, civil societies and governments to organize different side events. Some of these events were co-organized and facilitated by the Secretariat of the Convention on Biological Diversity (CBD) with Governments and relevant organizations  by sharing on-the-ground experiences, lessons learned, and insights into transformative actions and partnerships, including partnerships through the Sustainable Ocean Initiative.

One of the first side events on June 5th, organized to bring in marine scientists and discuss the contribution of scientific knowledge on oceans to the implementation of national action plans on climate and human-induced changes. The moderator Jessica Faieta from UNDP opened the meeting by reminding the audience that the deadlines for achieving the SDG 14 (Oceans) were 2020 and 2025. Considering how pressing the issue was, she said, this side event was crucial to identify knowledge gaps and contribute towards ocean national action plans. Echoing Faieta’s view, representatives of the Dominican Republic, Argentina, and UNDP shared the challenges their countries and organization were facing, and their work in this area.

Marine experts also shared their knowledge about the ocean, including its importance, the impact of its change on the ecosystem, and the way the ocean works. In addition, Dr. Alberto Piola and Dr. Jose Muelbert highlighted that the warmer the ocean is, the lower would be the ability of the ocean to absorb carbon dioxide from the atmosphere. Also, because the speed of ocean warming differs in different countries, some countries’ oceans are warming much faster as a result. Due to the fact that 40 percent of the global population live near the ocean, and 11 percent of the largest cities are very close to the ocean, the implications of warming causes a considerable impact on the human population, and the ecosystems. “Life started in the ocean,” Muelbert cautioned, “if we are not careful, life will end because of changes in the ocean.”

Meeting: How scientific knowledge on oceans can contribute to the implementation of national action plans on climate and human-induced changes

Date/Location: Monday, June 5, 2017; 09:00-10:30; Conference Room 6, United Nations Headquarters, New York, NY

Speakers:

Ms. Jessica Faieta, Assistant Secretary-General and Director, Regional Bureau for Latin America and the Caribbean, United Nations Development Programme (UNDP); H.E Francisco Domínguez Brito, Minister of Environment and Natural Resources, Government of Dominican Republic; H.E. Diego Moreno, Vice Minister, National Secretary of Environment, Climate Change and Sustainable Development, Government of Argentina; Dr. Alberto Piola, Southern Ocean Carbon and Climate Observations and Modeling project (SOCCOM), and Inter-American Institute for Global Change Research (IAI);  Dr. Jose Muelbert, Universidade Federal do Rio Grande and IAI;  Dr. Rebecca Klaus, Senior advisor and expert in Marine Spatial Planning and Marine Protected Areas, Cousteau Society;  Mr. Nik Sekhran, Director for Sustainable Development, Bureau for Policy and Programme Support, UNDP.

Written By: WIT Representative Jadice Lau