Sustainable Development Goals- Are we on track?
With 2023 marking the midpoint of SDG implementation, it is time for urgent action. But what progress has been made? The 2023 edition of the United Nations flagship report, World Economic Situation and Prospects was released on May 25th which discusses progress. Firstly, it is clear that the report comes at a pivotal moment for the global economy. Why? There have been major shocks to our global economic systems: for the first time, the human population reached 8 billion people; the fiscal space for developing countries is under siege; the impacts of COVID-19 pandemic are still reverberating worldwide; the war in Ukraine has caused worldwide disruption to food and energy markets and; world growth is predicted to decelerate.
As a result, vast swathes of the world have no chance of investing in a sustainable recovery from the pandemic, a transition to renewable energy, or education and training so their people can benefit from the digital revolution. Whilst economic, financial, geopolitical and environmental risks persist, the near-term economic outlook remains highly uncertain.
In Europe, a strong expansion of renewable energy, electric vehicles and a reduction in carbon intensity has helped to partly offset adverse effects associated with the global energy crisis. However, investment in renewables alone is not enough and should not mask wider climatic efforts. Thus far, the world remains off-track for limiting global warming to below 2 degrees Celsius. Without additional measures, policies that are currently in place will likely result in global warming of about 2.8 degrees Celsius, relative to pre-industrial levels, by the turn of the next century.
On the 6th June the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA), the United Nations Statistics Division (UNSD), The World Bank, and World Health Organization (WHO), released The 2023 edition of Tracking SDG 7: The Energy Progress Report, which highlights the urgent action that is needed to achieve SDG 7 on time. 2023 marks the mid-point to the SDGs and therefore acts as a crucial indicator of our progress. The most prominent takeaway- Despite some progress across the indicators, the current pace is not adequate to achieve any of the 2030 targets.
Renewable energy usage has been on the rise since 2010, but there is still much room for improvement. We must continue to scale up our efforts to significantly increase the share of renewables in our total energy consumption. While some policies have shown promise in improving the outlook for renewables and energy efficiency, we must do more to ensure that necessary policy actions and financial flows are not falling short. It is essential that we ambitiously deploy renewables-based generating capacity across regions to avoid locking in unsustainable and polluting energy choices.
Despite this, there is clear evidence that bold, targeted and timely fiscal measures, coupled with strong international support and debt restructuring, can help turn around the world economy and accelerate progress towards sustainable development. Both reports make a strong case that Governments must step up the fight against climate change, accelerating the transition to clean energy and building resilience against future crisis. The WESP rreport draws upon research estimating that annual investment in climate action in developing countries (other than China) must reach $1 trillion by 2025. Without this transformation and support, the climate emergency could overwhelm all efforts to achieve the SDGs.
Policymakers must commit to renewable energy for the long-term, supported by well-designed targets, comprehensive plans, and timelines for the short, medium, and long term. These commitments will provide clear directions for stakeholders to plan their activities through policy. Structural changes must underpin these policies to support the ramp-up of renewable energy, as we strive to transform entire energy systems through sustainable sources of energy. We must work together to power our economies and improve lives and livelihoods with sustainable energy choices.
A month on from the Energy Progress Report, the High-level Political Forum on Sustainable Development (HLPF) took place from July 10 to July 19, 2023. The forum is held under the auspices of the Economic and Social Council, which includes a three-day ministerial segment from July 17 to July 19, 2023 as part of the High-level Segment of the Council.
The theme for the forum was "Accelerating the recovery from the coronavirus disease (COVID-19) and the full implementation of the 2030 Agenda for Sustainable Development at all levels". Participants discussed effective and inclusive recovery measures to address the impacts of the COVID-19 pandemic on the Sustainable Development Goals (SDGs) and explore actionable policy guidance for the full implementation of the 2030 Agenda and the SDGs at all levels.
The HLPF in 2023 reviewed in-depth Goals 6, 7, 9, 11, and 17 that focus on clean water and sanitation, affordable and clean energy, industry, innovation and infrastructure, sustainable cities and communities, and partnerships for the Goals, respectively. The public release discussing the outcomes of the report has not yet been released, however, this article will be updated when they come to light.
Overall, with this year marking the halfway point to SDG implementation, it is clear that momentum cannot stop and in some cases must be accelerated in order to achieve aims. As stated in the 2023 Progress towards the SDGs report, ‘We cannot simply continue with more of the same and expect a different result. The global economy also needs to speed up the decoupling of economic growth from resource use by maximizing the socio-economic benefits of resources while minimizing their negative impacts.'
The nature of the circular economy is to support the decoupling of resources from economic growth and is therefore well placed to help support the shift away from consuming harmful resources such as single-use plastics. So, how can the circular economy help tackle plastic pollution? The UN predict that a shift to a circular economy can:
- reduce the volume of plastics entering oceans by over 80 % by 2040.
- reduce virgin plastic production by 55%
- save governments US$70 billion by 2040
- reduce greenhouse gas emissions by 25%
- create 700,000 additional jobs – mainly in the global south.
The circular economy is no longer an option- it is necessary if we are to help achieve these SDGs and safeguard the environment. At Oakdene Hollins, we proudly wear our UN SDG pins. At Oakdene Hollins we will continue to support businesses to achieving their sustainability and circularity aims. As a circular economy and sustainability consultancy, Oakdene Hollins has the expertise to support you on your journey to the circular economy, get in touch.