Week 9
Video
In this 16-minute video made available from the SDG Academy, Jeffrey Sachs looks sustainable development financing, and how are resources mobilized to achieve sustainable development.
Analysis
The SDGs cannot be achieved without partnerships, as sustainable solutions will not come from one sector acting in isolation[1]. The SDGs can only be realized with strong global partnerships and cooperation. A successful development agenda requires inclusive partnerships, at the global, regional, national, and local levels, built upon a shared vision and shared goals placing people and the planet at the centre.
Official development assistance (ODA) is government aid that promotes and specifically targets the economic development and welfare of developing countries. The ODA is the “gold standard” of foreign aid and remains the main source of financing for development aid. Many countries require ODA to encourage growth and trade. Yet, aid levels are falling, and donor countries have not lived up to their pledge to ramp up development finance[2]. Strong international cooperation is needed now more than ever to ensure that countries have the means to recover from the pandemic, build back better and achieve the Sustainable Development Goals.
Partnerships, innovative financing, science and technology transfers and data transparency are just some of the ways progress on SDG #17 will be achieved. The 2030 Agenda on sustainable development is a critical opportunity to reassess existing approaches and pursue new partnerships.
Fast Facts
- ODA from members rose to an all-time high of USD 161.2 billion in 2020, up 3.5% from 2019;
- Developing countries have benefited from global partnerships as around 79% of imports from developing nations have entered other countries duty-free, which saves them a significant amount of money;
- External debt of developing economies reached 31% of their GDP in 2020;
- Trade, foreign direct investment, and remittances are declining globally.
Why it Matters
Why should I care about partnerships for the SDGs?
We are all in this together. The 2030 Agenda is a universal and calls for action by all countries, both developed countries and developing countries, to ensure no one is left behind.
Targets and Indicators for Canada
Below is Canada’s approach to measuring progress on SDG #17 – Partnerships for the Goals. Note the targets and indicators chosen[3].
Recommended Reading
- United Nations. (2021). The Sustainable Development Goal Report, 2020. Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development.
- OECD. (2021). Official Development Assistance (ODA).
- Global Affairs Canada. (2018). Canada’s Implementation of the 2030 Agenda for Sustainable Development: voluntary national review. ↵
- United Nations. (2021). Sustainable Development Goals. ↵
- Statistics Canada. (2021). The Canadian Indicator Framework for the Sustainable Development Goals - 2021 ↵
