adb and the sustainable development goals
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ADB and the Sustainable Development Goals
Olivier Serrat2016
The 17 Sustainable Development Goals
From Millennium to Sustainable Development Goals
• United Nations-led dialogues• Eight goals; 18 targets; 48 indicators• A focus on deprivation in poor countries• The goals only partially addressed the environment and inequality• The goal to develop a global partnership for development (MDG8) was weakly formulated and partially monitored• Financing originated largely from overseas development assistance• The demands on national statistical systems were recognized late and not matched by resources
• Country-led consultations• Seventeen goals; 169 targets; 230 indicators• The goals aims for sustainable development at the level of the planet, a veritable seismic shift• The goals cover the three dimensions of sustainable development: economic growth, social inclusion, and environmental protection.• Global partnerships are to be implemented under each goal and under SDG17• Financing is to come from all sources• The challenge of improving national statistical systems and data availability will intensify
Mill
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um D
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Sustainable Development Goals
The Asian and Pacific region drove global progress toward the Millennium Development Goals by the sheer size of its population, share of gross domestic product, but also because of the large number of deprived people the region lifted from poverty (Source of Data: ESCAP–ADB–UNDP. 2015. Making It Happen. Bangkok.)
Development Progress in Asia and the Pacific
Megatrends are transformative forces that define the future with far-reaching impacts on business, cultures, economies, societies, and personal lives. The Asian and Pacific region is characterized by:
• Demographic Change. Ageing populations and the youth bulge pose challenges but offer opportunities at the top and bottom of the age pyramid.
• Rapid Urbanization. The rise of cities is unprecedented; by 2030, the region shall have at least 22 megacities.
• Interconnectedness. Regional cooperation and integration are forging interlinkages in markets and infrastructure.
• Changing Economic Structures. Countries must define and re-define what industries will characterize their outlook.
• Shift to Knowledge-Based Economies. Knowledge-based economies require different sets of skills and beckon related investments.
Megatrends in Asia and the Pacific
Fiscal resources from domestic savings offer great potential. However, the bulk of Asian funds is in private hands (and therefore dispersed): what is available is invested in richer countries. Unlike overseas development assistance, private funds are not programmable. Plugging leaks, e.g., tax evasion, failure to pay taxes, etc., would bring in more revenues than official development assistance.
Investments for sustainable development are riskier, longer-term, and less profitable.
Long-term funds remain to be unlocked.
Moving Asian Funds Toward Sustainable Development
Private flows far outstrip public finance in Asia and the Pacific, 2012–2014 (annual, $ billions) (Source of Data: ESCAP–ADB–UNDP. 2015. Making It Happen. Bangkok.)
Narrow tax base, weak tax administration
Revenue leakages, tax havens
A relatively small private sector and underdeveloped financial markets—banking, capital markets, debt instruments
Savings seek safety, returns, and liquidity, hence the tendency to invest in richer countries
Difficulties in accessing new sources for sustainable development: climate funds, pension or insurance funds
Absorptive capacity constraints in institutions, capital, and skills
Bottlenecks to Overcome in Mobilizing Finance
The recent merger of ADB's Asian Development Fund and ordinary capital resources will boost the bank's total annual lending and grant approvals to about $20 billion—50% more than the current level; ADB's assistance to lower-income countries will rise by up to 70% from the current level of $6.5 billion to $7.5 billion–$11 billion by 2026.
• Expand operations in education and health;• Focus more intently on inclusive growth and climate actions;• Amplify private sector operations; and• Roll-out public-private partnerships to foster demand.
Guided by country priorities and ADB's comparative advantage, a rebalanced portfolio under ADB's latest rolling Work Program and Budget Framework, 2016–2018 will
ADB's Overall Response to the Sustainable Development Goals
ADB is preparing a new corporate strategy to respond to a changing Asia and Pacific and Agenda 2030, incorporating the Addis Ababa Action Agenda on financing for development and outcomes of the COP21 on reducing emissions and managing the impacts of climate change. A new corporate results framework will be developed. Global monitoring of the progress of the SDGs will require harmonization of standards, definitions, and methodologies, with capacity development: in ADB, a review will explore ways to align the results indicators in the new corporate results framework with SDG outcomes that are relevant to Asia and the Pacific and ADB's strategic directions; the review will make the indicators more (i) crosscutting, meaning thematic, rather than sector-based; and (ii) outcome-based (rather than output-based).
ADB's Overall Response to the Sustainable Development Goals
ADB collaborated with ESCAP and UNDP on (i) the 2012–2013 regional progress report on the MDGs, which highlighted Asia-Pacific perspectives aspirations in global dialogues on the SDGs; and (ii) the 2014–2015 regional progress report on the MDGs, which identified key challenges on data, technology, and finance where development cooperation will be critical to the SDGs.
In 2015, ADB joined other multilateral development banks to identify joint-financing support for the SDGs.
ADB's knowledge sharing pipeline includes a 2016 SDG Outlook Report and a 2017 SDG Thematic Report.
Knowledge Sharing and the Sustainable Development Goals
ADB attended the Addis Ababa Financing for Development Conference (July 2015) and the United Nations Summit on Sustainable Development (September 2015)
Monitoring the accomplishment of the SDGs will make significant demands on national statistical systems: this summons requisite investments in capacity building.
Global monitoring of the progress of the SDGs will require harmonization of standards, definitions, and methodologies. And yet, specific country contexts will have to be reflected. For instance, assessment of progress toward gender equality may need to be gauged against national laws and local customs.
Assessments of progress may also need to consider interlinkages across SDGs and possible trade offs and co-benefits among economic, ‐social, and environmental dimensions of sustainable development.
Monitoring the Progress of the Sustainable Development Goals
Further Reading• ADB. 2011. Guidelines for Knowledge Partnerships. Manila.
www.adb.org/publications/guidelines-knowledge-partnerships
• ——. 2013. Asia-Pacific Aspirations: Perspectives for a Post-2015 Development Agenda. Manila. www.adb.org/publications/asia-pacific-aspirations-perspectives-post-2015-development-agenda
• ESCAP-ADB-UNDP. 2015. Making It Happen: Technology, Finance, and Statistics for Sustainable Development in Asia and the Pacific. Bangkok. www.adb.org/publications/technology-finance-and-statistics-sustainable-development-asia-pacific
Further Reading• ADB. 2015. Making Money Work: Financing a Sustainable
Future in Asia and the Pacific. Manila. www.adb.org/publications/making-money-work-financing-sustainable-future-asia-and-pacific
• UN. 2015. The Addis Ababa Action Agenda of the Third International Conference on Financing for Development. New York: United Nations. www.un.org/esa/ffd/wp-content/uploads/2015/08/AAAA_Outcome.pdf
• ——. 2015. Transforming Our World: the 2030 Agenda for Sustainable Development. New York: United Nations. sustainabledevelopment.un.org/post2015/transformingourworld
Further Reading• ADB. 2016. Sustainable Development Goals. Manila.
www.adb.org/site/sdg/main
Videos• ADB. 2013. Reflections on Rio+20. Manila.
vimeo.com/92214523• ——. 2013. The Millennium Development Goals. Manila.
vimeo.com/92214529• ——. 2013. ADB's Contribution to the Millennium
Development Goals. Manila. vimeo.com/92214530• ——. 2013. The Millennium Development Goals and the Post-
2015 Development Agenda. Manila. vimeo.com/92214538• ——. 2013. Achievements of the Millennium Development
Goals in Asia and the Pacific. Manila. vimeo.com/92482268
Videos• ADB. 2013. New Development Challenges in Asia and the
Pacific. Manila. vimeo.com/92482269• ——. 2016. ADB: Reflections and Beyond. Manila.
vimeo.com/user26371068• ——. 2016. The ADB Sustainable Development Timeline.
Manila. reflections.adb.org/
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