CFI.co Columnist
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Capital Finance International
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Paula Tavares
(World Bank)
& Otaviano Canuto
(Center for Macroeconomics and Development)
:
Turning Promises Into Reality –
The Business Case for Gender Equality in Achieving the SDGs
As world leaders gathered this month for high-level talks at the 74
th
United Nations
General Assembly, pressing global issues were at the forefront of discussions, including
progress toward the 2030 Agenda and the Sustainable Development Goals (SDGs).
hile taking stock of how far we have
come in realising commitments
in key areas, including to end
poverty and hunger, expand access
to
health,
education,
justice
and jobs, promote inclusive and sustained
economic growth, and protect our planet from
environmental degradation, heads of state and
government convened at the SDG Summit also
faced heightened pressure to increase actions
and implementation efforts to achieve the 2030
Agenda goals and concrete targets agreed upon
in 2015.
Four years into the implementation of the 2030
Agenda, countries have made efforts to align
national development plans and strategies
with the SDGs and address the different
challenges, with positive results in some
areas. Notwithstanding, the 2019
Sustainable
Development Goals Report
shows slow progress
in many indicators: at current rates, 6% of the
world’s population is predicted to still be living
in extreme poverty by 2030, global hunger is
increasing, and vulnerabilities remain high, with
inequalities in wealth, incomes and opportunities
increasing in and between countries. Additionally,
environmental degradation and climate change
continue at rates that bring potentially disastrous
consequences for humanity.
As the world enters the 10-year countdown to
making good on mutual commitments on behalf
of a sustainable future for the planet, achieving
Goal 5 of gender equality and the empowerment
of women and girls is on the front burner of
most governments, the business sector and
civil society. Indeed, as stated in the 2019 SDG
Report, gender equality is a key area for action
to ensure progress across targets, including
poverty alleviation, reduced inequalities and in
particular, economic growth.
GENDER EQUALITY AND THE ECONOMIC OUTLOOK
Nonetheless, progress on gender equality and
reaping its potential impact on inclusive growth
has also been limited. In parallel, according to
the OECD’s latest
Interim Economic Outlook
,
warning signs of a potential slowdown in the
global economy are multiplying, with a large
share of developing countries struggling to
achieve sustained growth in per capita incomes
and productivity.
Increased debt vulnerability and challenges
faced by both emerging and developed
economies, combined with rising income and
wealth inequality, risk undermining efforts to
achieve the Sustainable Development Goals, as
predicted in the World Situation and Prospects
2019. Moreover, even where greater expansion
has occurred, inequality remains high and not
all are benefiting from improved economic
conditions. The persistence of low economic
