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Browsing: Blended finance and FinTech
- It is estimated that inaction on SDGs will cost the global economy an extra $38 trillion
- Currently, the SDG financing gap is at approximately $11–15 trillion per year
- By the end of 2050-2060, there will be over 1 billion climate refugees globally
Inaction in advancing the implementation of the Sustainable Development Goals (SDGs) could cost the global economy an extra $38 trillion per year by 2050 at the current rate of progress.
This is according to renowned business leader, campaigner, and author Paul Polman, who has called on the Kenyan private sector to raise the level of ambition in advancing the global goals to move the country forward faster.
With the SDG financing gap at approximately $11–15 trillion per year, or four times greater than current spending levels, Paul Polman noted that the $38 trillion dollars is approximately 20 per cent of the entire global economy, and the longer we …