Funding for Sustainable Development is Needed Now More than Ever 

The UN Deputy Secretary-General stated on Monday that securing the money needed for sustainable development by incorporating as many actors from many sectors as possible is more important than ever, given the growing “trust deficit” between the haves and the have-nots. 

Amina Mohammed, speaking at the Building Bridges Summit for Sustainable Finance in Geneva, urged all those in attendance, including representatives from the government, the private sector, international organizations, and civil society, to do more to advance a common investment framework that will improve people’s lives everywhere. 

Finance Minister Ueli Maurer, who represented the Swiss federal government at the summit’s second iteration, emphasized the summit’s potential for meaningful action, as well as the need to be inclusive and transparent in how sustainable funding is handled. 

Sustainable investment in Switzerland increased by 31% between 2019 and 2020, to over 1,500 billion Swiss francs. 

The summit is planned to help to the creation of an orderly and uniform approach to “net zero” financing, in addition to highlighting prospects for investors and fund managers. 

Deputy Secretary-General Mohammed highlighted the topics she hoped the week-long summit will address at Geneva’s Maison de la Paix, highlighting the conference’s convening ambition. 

Despite having the “leadership”, ”expertise” and “tools” to do so much, Ms. Mohammed cautioned that the truth is that the trust deficit in our world is increasing. 

Despite data from the World Health Organization revealing that G20 countries received more than 80% of COVID-19 vaccines while low-income countries received only 0.6 percent, the UN deputy chief argued that we have not been able to rise to the global solidarity call.