Amina Mohammed, the UN Deputy Secretary-General, raised concern that more than 80% of the world’s vaccines have gone to G20 countries, while low-income countries, the majority of which are in Africa, have gotten only 0.6 % of all vaccines.
On Monday, Mohammed said the world had failed to respond to the global solidarity demand for vaccination at the Building Bridges Summit for sustainable finance in Geneva.
The UN deputy chief emphasized the importance of securing sufficient resources for sustainable development by integrating as many people as possible from various sectors.
With a growing “trust deficit” between the haves and the have-nots, she believes that incorporating more actors is more important than ever.
Mohammed urged everyone in attendance, including representatives from the government, the corporate sector, international organizations, and civil society, to do more to advance a shared investment framework that will improve people’s lives around the world.
Mohammed highlighted the concerns she hoped the week-long summit will address at Geneva’s Maison de la Paix, highlighting the event’s convening ambition.
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.
According to the summit’s organizers, sustainable investment in Switzerland increased by 31% between 2019 and 2020, reaching over 1,500 billion Swiss francs.
The conference will help create an orderly and uniform approach to “net zero” financing, in addition to highlighting prospects for investors and fund managers. The call for fossil fuel industry subsidies to be phased out in order to level the playing field for renewable energy investment was also adressed.