UN / FINANCING FOR SUSTAINABLE DEVELOPMENT

Preview Language:   Original
12-Apr-2022 00:02:14
Speaking at the launch of the 2022 edition of the Financing for Sustainable Development Report, Deputy Secretary-General Amina Mohammed said, “without immediate policy action the window for delivering on the 2030 Agenda for Sustainable Development will close. Yet, instead of action, once again we are seeing the countries the least responsible for a crisis paying the highest price.” UNIFEED

Available Language: English
Type
Language
Format
Acquire
/
English
Other Formats
Description
STORY: UN / FINANCING FOR SUSTAINABLE DEVELOPMENT
TRT: 02:14
SOURCE: UNIFEED
RESTRICTIONS: NONE
LANGUAGES: ENGLISH / NATS

DATELINE: 12 APRIL 2022, NEW YORK CITY / FILE

SHOTLIST:

FILE - NEW YORK CITY

1. Wide shot, UN flag outside UN Headquarters

12 APRIL 2022, NEW YORK CITY

2. Wide shot, press room dais
3. Wide shot, journalists
4. SOUNDBITE (English) Amina Mohammed, Deputy Secretary-General, United Nations:
“This report is coming at a critical moment for humanity. Adding to the compounding crises of climate, assaults on our natural systems, and the protracted COVID-19 pandemic, the fall-out from the war in Ukraine is rapidly impacting food, energy, and finance across the globe. And without immediate policy action the window for delivering on the 2030 Agenda for Sustainable Development will close. Yet, instead of action, once again we are seeing the countries the least responsible for a crisis paying the highest price.”
5. Med shot, journalists
6. SOUNDBITE (English) Amina Mohammed, Deputy Secretary-General, United Nations:
“The recommendations in today’s new report point to a way forward. First, the international community must urgently address financing gaps and rising debt risks. It would be a tragedy if donors increased their military expenditure at the expense of Official Development Assistance and climate action. And it would be a tragedy if developing countries continue to default, at the expense of investments in social services and climate resilience. Second, policy makers must ensure that financing is aligned with the SDGs and climate action. This includes public budgets, tax systems, regulatory frameworks, and corporate reporting requirements. Climate-related risks should also be integrated into debt contracts and financial frameworks. And third, we must improve information ecosystems.”
6. Wide shot, journalists
7. SOUNDBITE (English) Navid Hanif, Director, Office for Financing for Sustainable Development, Department of Economic and Social Affairs (DESA), United Nations:
“During the pandemic, developed countries were able to borrow money at one percent, developing countries, eight percent. And we did analysis. If you look at the credit worthiness of countries in Europe and Africa, some countries are not far apart, but the borrowing rate is four to five percent higher than in Europe.”
8. Med shot, dais
9. SOUNDBITE (English) Amina Mohammed, Deputy Secretary-General, United Nations:
“And so, my pleasure to introduce the report.”
10. Wide shot, press room

STORYLINE:

Speaking at the launch of the 2022 edition of the Financing for Sustainable Development Report, Deputy Secretary-General Amina Mohammed said, “without immediate policy action the window for delivering on the 2030 Agenda for Sustainable Development will close. Yet, instead of action, once again we are seeing the countries the least responsible for a crisis paying the highest price.”

Mohammed told reporters in New York that, “this report is coming at a critical moment for humanity.” She said, “adding to the compounding crises of climate, assaults on our natural systems, and the protracted COVID-19 pandemic, the fall-out from the war in Ukraine is rapidly impacting food, energy, and finance across the globe.”

The recommendations in today’s new report, Mohammed said, “point to a way forward”.

She said, “the international community must urgently address financing gaps and rising debt risks” and added that “it would be a tragedy if donors increased their military expenditure at the expense of Official Development Assistance and climate action.”

Policy makers, Mohammed said, “must ensure that financing is aligned with the SDGs and climate action” and “climate-related risks should also be integrated into debt contracts and financial frameworks.”

She also called for the improvement of information ecosystems in order to strengthen the ability of countries to manage risks and use resources well and in line with sustainable development.

The report indicates that the COVID-19 pandemic has put more countries at risk of debt distress, constrained their fiscal space and hampered economic growth.

Also speaking at the launch, the Director, Office for Financing for Sustainable Development, Navid Hanif, said, “during the pandemic, developed countries were able to borrow money at one percent, developing countries, eight percent. And we did analysis. If you look at the credit worthiness of countries in Europe and Africa, some countries are not far apart, but the borrowing rate is four to five percent higher than in Europe.”

This great finance divide, the report states, leaves developing countries unable to respond to crises and invest in sustainable development. On average, developed countries use 3.5 per cent of revenue to pay interest on their debt, versus 14 percent of revenue for the least developed countries.

About 60 percent of the Least Developed Countries (LDCs) and other low-income countries are now assessed at a high risk of or in debt distress, double the 30 percent in 2015. The Ukraine conflict is compounding stresses, through higher energy and commodity prices, renewed supply chain disruptions, higher inflation coupled with lower growth, and increased volatility in financial markets.
Series
Category
Personal Subjects
Creator
UNIFEED
Alternate Title
unifeed220412e
Asset ID
2728348