ANOTHER year has passed, bringing the world closer to the 2030 sustainable development goals (SDGs) deadline. The world adopted the Sustainable Development Goals (SDGs) in 2012 and halfway through the timeline, data reveals that the investment gap across the SDG sectors has widened from $2.5 million in 2015 to more than $4 trillion per year in 2023. The largest gaps are in energy, water and transportation infrastructure.
With the lingering impact of the Covid-19 pandemic, climate change and the geopolitical situation, SDG gains are continuously being offset. The race to 2030 has been extremely challenging, with the financing gap still hovering in trillions of dollars each year. There is an immediate need to find ways to bridge the financing gap through innovative financing, one of which is green finance.
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