Sustainable Development Goal 17 “partnerships for the goals.” By Mark Darko

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The official wording is: “Strengthen the means of implementation and revitalize the global partnership for sustainable development”.

The Goal has 17 targets to be achieved by 2030, broken down into five categories: finance, technology, capacity building, trade and systemic issues.

SDG 17 refers to the need for cross sector and cross country collaboration in pursuit of all the goals by the year 2030. It is a call for countries to align policies. SDG 17 is a vision for improved and more equitable trade, as well as coordinated investment initiatives to promote sustainable development across borders. It is about strengthening and streamlining cooperation between nation-states, both developed and developing, using the SDGs as a shared framework and a shared vision for defining that collaborative way forward. It seeks to promote international trade, and help developing countries increase their exports to ensure a universal rules-based and equitable trading system that is fair, open and beneficial to all.

With US$5 trillion to $7 trillion in annual investment required to achieve the SDGs, total official development assistance reached US$147.2 billion in 2017. This, although steady, is below the set target. In 2016, six countries met the international target to keep official development assistance at or above 0.7 percent of gross national income. In 2017, international remittances amounted US$613 billion, with 76 percent invested in developing countries. The bond market for sustainable business is also growing. In 2018 global green bonds reached US$155.5billion, up to 78 percent from 2017.

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Humanitarian crises brought on by conflict or natural disasters have continued to demand more financial resources and aid. Even so, many countries also require official development assistance to encourage growth and trade.The global progress map for SDG 17 shows that significant and major challenges remain in the majority of the world. Many regions of strong economic status perform very poorly, like the United States and much of Europe.

A successful sustainable development agenda requires partnerships between governments, the private sector and civil society. These inclusive partnerships built upon principles and values, a shared vision, and shared goals that place people and the planet at the center, are needed at the global, regional, national and local level.

The Sustainable Development Goals are a collection of 17 global goals set by the United Nations to be implemented by the year 2030.

The Sustainable Development Goals are related to: Poverty, Hunger, Health, Education, Gender Equality, Energy, Economic Growth, Industry, Inequalities on all levels, Sustainable Communities, Responsible Consumption, Climate Change, Marine Life, Environment, Social Justice, and International Partnership (SDG 17).

Sustainable Goal 17 targets long-term investments to empower sectors and companies in need, more adaptable in developmental countries. Its main aim reaches improving the following aspects of a country that include: energy, infrastructure, transportation systems, IT infrastructure to different communications technologies channels.

The framework of development covers evaluating and following up with rules and regulations, the sector’s structure to attract more investment projects to the country and thus improving its economical standards.

This partnership is translated through full assistance of all regional, local and international communities to increase the economical and social growth rates of a certain nation.

The success of the 2030 agenda requires inclusive partnerships to achieve the common goals adopted. These partnerships need to be set at the different constituencies (local, national, regional and global level) and consider the Sustainable Development Goals’principles, vision and values to place people and planet first now more than ever to recover from crisis and build back while achieving the SDGs.

More often than not, the actualization of the SDGs, at the global level, depends on the effectiveness of the official development assistance. The Official development assistance needs to leverage on international collaboration for the public financing of the developing countries that remained unfulfilled by the donors. It is the responsibility of the official development assistance to ensure that, most developing countries are supported in areas of water and sanitation related activities and programs rather than making use of their domestic resources, tariffs and public finance obtain through taxation.

Impacts and responses to Covid-19 pandemic

The UN Secretary-General gave a development of strategy that spread out a dream for how the global network can show a powerful, organized reaction to the COVID-19 pandemic. The 2020 Financing for Economical Advancement Report traces measures to address the effect of the unpacked worldwide back down and financial crisis, particularly within the world’s poorest nations. To support the poor communities they also started a UN Reaction and Trust Fund. Unfortunately, remittances to low income countries are expected to fall and global investment is expected to decline by 40% owing to the pandemic.

World Health Organization (WHO), in collaboration with the UN Establishment advanced a first-of-its-kind Solidarity Reaction Support to permit enterprises and people to contribute to WHO’s COVID-19 reaction.

Partnerships with private finance

There are concerns that Target 17.17 could undermine the rest of the SDGs. Indeed, according to a 2018 UN Report, “in terms of costs, private finance is more expensive than public finance, and public-private partnerships can also incur high design, management and transactional costs due to their complexity and the need for external advice”. In addition, negotiations of these public-private partnerships can cause project delays of some years.

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Mark G. Darko, Accra