Sustainability is "long-term business logic": General Assembly President

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A family in Uvs Province, Mongolia, using a solar panel to generate power for their ger, a traditional Mongolian tent. UN Photo/E. Debebe

A drive towards more sustainable economic models is being "increasingly recognized" as "sound, long-term business logic."

That's the confident view of UN General Assembly President Peter Thomson, speaking at a high level event on financing the 2030 Sustainable Development Goals (SDGs).

The 17 SDGs were agreed by more than 190 countries at UN Headquarters in September 2015 and aim to end extreme poverty and hunger, while boosting health, education and a better environment for all.

Dianne Penn reports.

Mr Thomson said that financing the SDGs would require annual investments of around US$6 trillion, but the cost of inaction would be "far greater."

Without reaching the goals and investing in a more sustainable future, humanity itself could even be at risk, he told the meeting.

"Sustainability is increasingly recognized around the world as being the most sound, long-term business logic. The challenge before us is to do more to mobilize resources and scale up the transition of economies to inclusive and sustainable models. The chemistry of success will lie in the equations that align that logic, with overcoming that challenge."

Mr Thomson said that the involvement of the private sector was key in mobilizing the necessary capital to turn the SDGs from ambition to reality.

The Deputy Secretary-General, Amina Mohammed, said that the UN could help countries achieve the "critical shift" to mobilizing their own domestic resources to fund the SDGs.

She said the world body was going through its own reform processes to be more accountable to countries, and allow the SDGs to be implemented by 2030.

Dianne Penn, United Nations.

Duration: 1'15"

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