Unanimous adoption of the UN SDGs in September 2015
The MDGs aimed for a better world by 2015; their journey reveals partial success. Significant strides were made in areas like reducing extreme poverty, enhancing primary school enrolment, and improving access to clean water. Child mortality rates declined spectacularly, as deaths of children five years and under plummeted from 12.7 million in 1990 to 6.3 million in 2013. Nutrition improved markedly, with the percentage of underweight children under five in developing countries decreasing from 28% in 1990 to 17% in 2013. New HIV infections globally declined by 38% between 2001 and 2013, and the target to reverse the spread of tuberculosis was achieved, with treatment success rates at or above 85% since 2007, while cases of previously neglected tropical diseases fell considerably. In 2010, the target of access to safe drinking water was met.
Despite the many successes, the progress could have been more consistent across targets, regions, and countries. Many developing nations, the primary targets for health MDGs, still need to work on challenges, lagging behind their developed counterparts. There were some notable misses, such as on MDG7 “Ensure environmental sustainability,” and target 7B “Reduce biodiversity loss, achieving, by 2010, a significant reduction in the loss rate”. According to the International Union for Conservation of Nature (IUCN) Red List Index, which tracks data on various species, the risk of species extinction worsened by about 10% over the 25 years to 2018.
The time-bound and measurable objectives of the UN SDGs, like the MDGs before them, have been the bridge between the dream and reality, hope and wishful thinking. They have provided an actionable roadmap to help guide humanity toward a better version of the world where we all prefer to live. And what is more motivating than a dream destination, even when the journey is filled with missteps and mishaps?
The progress on the SDGs is concerning
Leave no one behind
By now, we understand that the north star and central promise of the 2030 Agenda to “leave no one behind” is in peril. We must raise our spirits and double down on our ambitions. However, achieving the SDGs is a marathon relay race. The stakes are high: neglecting the SDGs could lead to political instability, economic upheaval, environmental degradation, and widespread suffering, especially among the most vulnerable.
Yet, the dream for a sustainable and equitable world is more alive today than ever. Since 2015, various actors have embraced the SDGs, from governments to cities to organizations and companies. This brings to the fore that the wish for a sustainable, resilient world that leaves no one behind is widely shared.
The 2030 Agenda is the unifying global compass until 2030. Even if the goals are not all reached by 2030 or if there is backtracking in places, the relay must continue. Unparalleled scientific knowledge and technological know-how make the dream almost tangible. We all can play a role as politicians, citizens, professionals, parents, investors, entrepreneurs, and human beings.
It is past midnight for the asset management industry to embrace its role to appropriately calibrate long-term sustainability risks and opportunities and support investors in fulfilling their potential to help shape the long-term direction of companies and, by extension, that of society at large.
