UN Deputy Secretary-General, Amina Mohammed has expressed worry that more than 80% of the world\u2019s vaccines have gone to G20 countries while low-income countries, most of them in Africa, have received just 0.6% of all vaccine.<\/p>\n
Speaking at the Building Bridges Summit for sustainable finance in Geneva on Monday, Mohammed said the world had not been able to rise to the global solidarity call for vaccination.<\/p>\n
\u201cUntil everyone gets the vaccine, we will all be at risk, and we will not be able to take the Sustainable Development Goals (SDGs) to where they ought to be by 2030. For many, the health pandemic has been a tragedy, particularly in developed countries, but for developing countries it has a socio-economic impact that will take so much longer to recover from, and so, we need the urgency of the investments in climate action, which will have multiplier effects on the SDGs,\u201d she said.<\/p>\n
The UN deputy chief emphasised on securing needed funding to achieve sustainable development by involving as many actors from different sectors as possible.<\/p>\n
According to her, involving more actors is more urgent than ever, amid a widening \u201ctrust deficit\u201d between the haves and the have-nots.<\/p>\n
Mohammed urged all those present from Government, the private sector, international organisations and civil society, to do more to push ahead with a common investment framework to improve people\u2019s lives everywhere.<\/p>\n
\u201cWe need more ambition, more action, more scale, greater urgency in delivering the 2030 Agenda and the Paris Agreement, and we certainly need more fuel, more financial resources and more investments,\u201d she said.<\/p>\n
Highlighting the convening ambition of the summit at Geneva\u2019s Maison de la Paix, Mohammed listed the issues that she hoped the week-long summit might address.<\/p>\n
\u201cWe need the private sector and its leadership to unlock resources for key transitions in sustainable energy and connectivity, food systems, health, education, social protection, digitalisation.\u201d<\/p>\n
\u201cInnovative instruments including blended finance can all play an important role, but we need to massively scale-up that delivery. In spite of the fact that there was the \u201cleadership\u201d, \u201cexpertise\u201d and \u201ctools\u201d to achieve so much, the deputy UN chief warned that \u201cthe truth is that the trust deficit is widening in our world\u201d<\/p>\n
Representing the Swiss Federal Government at the summit\u2019s second iteration, Finance Minister Ueli Maurer highlighted its potential for concrete action, along with the need to be inclusive and transparent in the way that sustainable financing is handled.<\/p>\n
\u201cI think Building Bridges, we have to do it between the population and the Government, and we have to explain what we have to do. Then we need bridges between the private sector and the Government and then I think we need bridges from Switzerland to the world.\u201d he said.<\/p>\n
According to the summit\u2019s organisers, between 2019 and 2020, sustainable investment rose by 31 per cent in Switzerland, to over 1,500 billion francs.<\/p>\n
In addition to highlighting opportunities for investors and fund managers, it is hoped that the summit will contribute to creating an ordered and common approach to \u201cnet zero\u201d financing, said Patrick Odier, President of Building Bridges initiative and chair of Lombard Odier bank.<\/p>\n
\u201cWe are trying actually to bring capital closer to the whole array of the Sustainable Development Goals.\u2019\u2019<\/p>\n
Odier also responded to the call to end subsidies for fossil fuel industries to create a level playing field for renewable energy investment<\/p>\n
\u201cWe all know that we have to deal with these issues of subsidies, but finance itself is not at the helm of addressing this issue, What finance can do is basically ask the Government to play its role when it comes to trying to address the fossil industry and of course the emission problematic.\u201d he said.<\/p>\n
<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
UN Deputy Secretary-General, Amina Mohammed has expressed worry that more than 80% of the world\u2019s vaccines have gone to G20 countries while low-income countries, most of them in Africa, have received just 0.6% of all vaccine. Speaking at the Building Bridges Summit for sustainable finance in Geneva on Monday, Mohammed said the world had not […]<\/p>\n","protected":false},"author":32,"featured_media":1695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"\n