BS EDIT: Urgent need for increased SDG funding

By Business Standard Editorial CommentPublished On Aug 22, 2024

SDGs falling behind

With six years to go, no developing country is on track to achieve the 17 Sustainable Development Goals by 2030

The $4-trillion investment gap

Developing countries need an additional $4 trillion annually to meet SDG targets, with $2.2 trillion required for energy transition alone

Debt vs development

Many low-income countries spend five times more on debt servicing than on climate adaptation, hindering SDG progress

India’s climate progress

India is advancing with initiatives like the carbon-credit-trading scheme and green bonds, but substantial investment (4-8% of GDP) is still needed

Mixed results in India’s SDG performance

India has made strides in health, clean energy, and sustainable cities, but has regressed in reducing inequalities and protecting life on land

A call for strategic spending

To achieve SDGs, India must focus on social safety nets and carefully manage public finances, balancing debt and development goals