The Force for Good initiative, in a study conducted along with several UN bodies, has said the United Nations needs between $116 trillion and $142 trillion to reach its Sustainable Development Goals.
The Force for Good project of the English-registered F4G Foundation, has said in the executive summary of this report that the “funding gap of $84-101 trillion represents a seemingly insurmountable hurdle” in achieving the SDGs.
The report, named Capital as a Force for Good, called upon all countries and private entities to develop better cooperation.
It explained: “Closing a funding gap of nearly $100 trillion to 2030, representing GDP allocations of around 10 percent every year, will not be possible without a new understanding between all stakeholders.”
Similarly, through the report, a joint statement from the United Nations Conference on Trade and Development and the United Nations Office for Partnerships said governments alone cannot achieve SDGs, and they can’t be achieved one by one.
Thus, it urged private entities and others to pitch in, saying, for example, that the financial sector can offer “innovative financing instruments that address interconnectedness and foster innovative solutions downstream.”
The 17 SDGs are goals that the UN set forward in 2015, which would go on to be accepted by all its members states, to build a better planet.
They include, but are not limited to, goals like No Poverty, Zero Hunger, Good Health and Well Being, Quality Education, Gender Equality, Clean Water and Sanitation, and Affordable and Clean Energy.
This report comes at the same time that the UN has warned that Earth could be warmer by a catastrophic 2.70 C by the end of this century, rendering it unlivable in many parts.