The Sustainable Development Solutions Network (SDSN) presented the results of its annual assessment of progress towards achieving the SDGs.

According to expert forecasts, none of the 17 SDGs will be achieved by 2030. Globally, only 16% of SDG targets are being implemented, while 84% either show no progress or have regressed (i.e., are below 2015 levels).

The pace of sustainable development varies across the world. The Nordic countries continue to lead. The BRICS countries – Brazil, the Russian Federation, India, China and South Africa – are showing significant improvements. The main problems include a lack of funding for socio-economic projects in developing countries and the uneven distribution of international grants.

Experts call for a reform of the global financial architecture, recommending:

• Increasing funding through bilateral and multilateral support mechanisms
• Improving the efficiency of national development banks to ensure long-term financing for achieving the SDGs
• Introducing a global tax on carbon dioxide (CO2) emissions
• Reforming private capital markets and their regulation, including the credit rating system, to stimulate private investment in low-income countries (LICs) and lower-middle-income countries (LMICs)
• Restructuring existing debts of developing countries in exchange for commitments to finance sustainable projects