The global alliance represents over a quarter of the world economy and aims to become a forum, or accelerator for sharing knowledge and technology between governments, businesses and community leaders.
It has now been two years since the United Nations introduced the Sustainable Development Goals (SDG) that included 17 global benchmarks from ending hunger to promoting sustainability.
There has already been a number of successes in reaching some of the goals, like Costa Rica running for 113 days only using renewable energy, and Volvo’s pledge to phase out diesel and gas-powered cars in 2019. However, the Sustainable Development Solutions Network (SDSN), the UN agency that supports the implementation of the goals, has found a large number of countries have ended up in the “red column,” meaning improvement is needed.
As for the United States, we scored badly for gender and income inequality (SDGs 5 and 10), unsustainable consumption and production (SDG12), taking climate and environment action (SDGs 13 to 15), ensuring peace and security at home and abroad (SDG16), and in supporting the SDGs themselves (SDG17).
A support system for public-private partnerships
Creating solutions through the new new accelerator-like program will create public-private partnerships through national and city leaders, businesses, financial institutions, and community development advocates, focusing on energy, water, ecosystems restoration, food systems, sustainable cities, and a circular economy.
Those supporting and partnering in the launch of P4G include China, Indonesia and the C40 network, as well as the governments of Chile, Denmark, Ethiopia, Kenya, Korea, Mexico, and Vietnam, who will lead the initiative. The C40 network connects more than 90 cities representing a quarter of the global economy, and includes 12 U.S. cities.
While the U.S. government won’t be taking a leadership role in P4G, the initiative’s hub will be located in Washington, D.C., and will handle an annual budget of $4 billion, allocated to support projects developed through P4G. According to an assessment by the World Resources Institute, P4G could lead to the creation of 380 million jobs by 2030, around 90 percent in developing countries.
The Danish Government will provide $4 million each year for financial support to incubate and scale strategies of P4G partnerships. And while it is expected that more funds will join the initiative, the SDG Investment Fund will be established in January 2018 by the Danish Government and will ensure at least $5 billion in total investments.
