Abstract
The Sustainable Development Goals (SDGs) have been widely endorsed by governments, civil society and the private sector as a framework for creating a better world. Yet, as the 2030 deadline for achieving them looms, it is clear that most, if not all, will remain unmet. Most countries are way off track (see ‘Slow progress’); only a few targets, such as mobile broadband access and Internet use, are in reach1,2.
This lag stems in part from the slowing of the global economy by shocks, including the COVID-19 pandemic and international conflicts, which weren’t anticipated in 2015 when the goals were agreed1,2. The goals require deep transformations in education, health, energy, land use, urban infrastructure and digital platforms, financed and implemented in an integrated manner3. Governments are struggling to fund long-term investments in infrastructure. And the sheer range of targets, across all sectors of the economy and at local, national, regional and global levels, challenges current modes of governance.
There is insufficient finance to enable low- and middle-income countries (LMICs) to achieve the SDGs4. Many nations are in debt distress after the pandemic and face a tight schedule of repayments, which is setting back development. Weak domestic institutions and corruption5 further hamper the flow of equity and debt finance to LMICs.