It is estimated that achieving the Sustainable Development Goals, or SDGs, will cost five to seven trillion U.S. dollars each year. Consequently, SDG 17 aims to build better partnerships to achieve the SDGs. In 2017, $147.2 billion was used for official development assistance globally. In that same year, 76 percent of international remittances in developing countries, or income from migrant workers and family members abroad, totaled $613 billion. Development assistance and international remittances support international development; thus, these funds aid the achievement of the SDGs.
The SDGs need to have incentives to obtain investments, so Goal 17 focuses on global partnerships and cooperation. Promoting this collaboration improves the effectiveness of these goals.
SDG 17 aims to revitalize the global partnership for sustainable development.
Targets and Indicators
There are 19 targets, or subgoals, to SDG 17. For example, Target 17.1 aims to mobilize resources to improve countries’ abilities to collect revenue. Another example is target 17.6, which seeks to share knowledge and cooperation to spread access to science, innovation, and technology.
Indicators are statistics that help us see if we are on track to meeting targets. The indicator for Target 17.1 is the proportion of GDP, or the total value of goods and services provided by a country represented by total government revenue.
What’s Already Being Done
Progress towards SDG 17 has been mixed. While big donors are maintaining commitments to Official Development Assistance, global foreign direct investment to developing countries will likely plummet due to the COVID-19 pandemic.
Despite the impacts of COVID-19, progress has been made, and various tools help companies be more sustainable. Waves is an artificial intelligence advisor helping the private sector to create investment portfolios based on company or individual values. Donors identify the SDG they want to support, and Waves recommends initiatives to invest in. Waves provides users with an uplifting feeling of giving to charity while supporting sustainable investment, which benefits the investor and the SDGs. The Waves tool has achieved $7 trillion in annual investment for the SDGs.
Applying It: How Everyone Can Help
SDG 17 is no small feat, so getting involved is essential to achieving this goal. For example, you can do your part by supporting businesses and institutions that align with the SDGs. Do some online research before you buy to find products that are sustainably and ethically produced. You can also speak out about sustainable development and partnerships for the goals by reaching out to your local and national representatives. Urge them to better align with and support the SDGs, especially ones that may have the most impact on your community. Doing so will encourage more governmental partnerships for the goals, which will strengthen the SDGs globally and locally.
Additionally, keep the SDGs in mind during elections. Ask your candidates how they plan to implement them, and what they will do to strengthen partnerships for the goals if elected. Though these steps are small, they can help us meet the SDGs.