Monday 11 November 2024
Reshaping finance and investing in children for sustainable development
Developing countries are entangled in overlapping crises — climate change, unsustainable debt, and limited fiscal space — that hinder their ability to address critical immediate development priorities and long-term climate goals. While calls to reform the international financial architecture have intensified, the funding unlocked is falling way short of the trillions necessary to meet the essential needs of vulnerable populations.
Several areas for reform have been identified — maximizing existing financing mechanisms and mobilizing new and innovative sources of financing from the public and private sectors, as well as agreeing on debt management — and at this year’s COP29, negotiations for a new climate finance goal will dominate the agenda. But with unprecedented economic constraints, it is also crucial to focus on how to allocate scarce funding toward investments that offer the greatest impact.
Amid these numerous challenges, investing in children emerges as one of the most effective strategies for a sustainable future. By focusing on their health, nutrition and education, not only do we address immediate needs, but also lay the foundation for long-standing development. We also ensure that future generations are equipped to navigate a changing world, innovate, and tackle climate change. By providing a child priority framework to foster the urgency of financial architecture reform, the necessary resources could be mobilized at a far greater pace and scale.
As the world prepares for the Brazilian G20 Presidency, whose aim is to "build a just world on a sustainable planet", panelists in this session will explore pathways that deliver the greatest impact. They will also discuss how embedding a child-centric approach into the global agenda could accelerate progress toward the SDGs and keep the momentum for fair transitions alive — even as states face shifting priorities — to build resilient societies capable of facing future challenges.
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Patrick Achi
Former Prime Minister, Republic of Côte d’Ivoire
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Matt Reed
Chief Executive Officer and Global Director of Institutional Partnerships, Aga Khan Foundation United Kingdom
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Jutta Urpilainen
Commissioner for International Cooperation and Development, European Union
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Rosalie Adjuayi Diop
Director, Institute for Training and Research in Population, Development and Reproductive Health, Cheikh Anta Diop University
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Antón Leis García
Director General, Spanish Agency for International Cooperation and Development (AECID)
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Mai Lu
Former Vice Chairman, China Development Research Foundation (CDRF)
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