Turning_Promises_Into_Reality_-_The_Busi.pdf - > Paula Tavares(World Bank Otaviano Canuto(Center for Macroeconomics and Development Turning Promises

Turning_Promises_Into_Reality_-_The_Busi.pdf - > Paula...

This preview shows page 1 - 2 out of 3 pages.

CFI.co Columnist 14 CFI.co | Capital Finance International > 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
Image of page 1
Image of page 2

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture