Abstract
The sustainable development goals (SDGs), which provide a broad framework for addressing mankind's interconnected concerns, are critical in guiding global efforts towards attaining sustainable growth. This book chapter delves into the broad depth of the sustainable development goals (SDGs) along with how these could dramatically alter the direction of humanity and build an economically equitable and wealthy society. The current research investigates the historical evolution, background, significance, key consequences via case studies, and multiple implications about the sustainable development goals (SDGs) to address pressing global concerns such as reducing poverty, safeguarding the environment, equity in society, and growth in the economy. The chapter explores the prospects and challenges of achieving the SDGs while advocating towards a more integrated, holistic approach to global development for a more prosperous and sustainable future. It highlights the importance of teamwork and inclusive practices.
TopBackground And History Of The Sdgs
The Sustainable Development Goals (SDGs) constitute a comprehensive and ambitious framework for global development, building on prior worldwide agreements and demonstrating a shared commitment to solving critical global concerns.
As we reach the halfway mark of the 2030 Agenda for Sustainable Development and conduct the initial Global Stocktake under the Paris Agreement, which focuses on implementing SDG 13 concerning climate action, we find that only 15% of the SDG targets are being met. Disappointingly, none of the targets within SDG 13 show significant progress, and global emissions continue to rise steadily (UN DESA &UNFCCCA,2024).
The global community is confronting a crisis in sustainable development. The 2024 Financing for Sustainable Development Report underscores that financing challenges lie at the core of this crisis, threatening the achievement of the Sustainable Development Goals (SDGs) and efforts to address climate change (United Nations General Assembly, 2023). While there remains a window of opportunity to salvage the SDGs and avert a climate disaster, it is rapidly narrowing.
The report highlights significant and growing financing gaps for sustainable development. Estimates from international organizations and other sources converge around the need for an additional $4 trillion in investment annually for developing countries. This represents a more than 50% increase over pre-pandemic estimates (DESA &FSDO,2024). The formulation and acceptance of the SDGs represent a concerted global effort to encourage environmental sustainability reduce poverty, and create equitable development around the world (Pradhan P et al,2017). Blockchain-based smart contracts represent a cutting-edge development in both finance and technology. They constitute autonomous agreements that carry out their obligations without the assistance of intermediaries (K. Balaji,2024)
In Rio de Janeiro, the United Nations Conference on Environment and Development, often known as the Earth Summit, was held (Rio Earth Summit,1992). It resulted in Agenda 21, a comprehensive plan of action to achieve sustainable development on a global, national, and local scale The Millennium Development Goals (MDGs) were developed in 2000 as a collection of eight global objectives largely focusing on reducing poverty, education, gender equality, child mortality, maternal health, avoiding illness, sustainability of the environment, and worldwide collaborations (Purvis B. D,2019). These targets, which were set by world leaders, led global development activities from 2000 to 2015.The United Nations Conference on Sustainable Development, often known as Rio+20, was held in Rio de Janeiro to evaluate progress since the 1992 Earth Summit. The purpose of the conference was to reaffirm political commitment to sustainable development and to examine the global sustainable development agenda. Rio+20 provided the framework for drafting a new set of goals to replace the Millennium Development Goals. To propose a proposal for the SDGs, the Open Working Group on Sustainable Development Goals was formed (Rodríguez García AM, et al.,2019). The proposal comprised seventeen objectives and 169 targets that addressed social, economic, and environmental issues.
Key Terms in this Chapter
United Nations (UN): The United Nations is an intergovernmental organization founded in 1945 to promote international cooperation, peace, and security among nations.
Zero Hunger: Zero Hunger is one of the Sustainable Development Goals (Goal 2) that aims to end hunger, achieve food security, improve nutrition, and promote sustainable agriculture.
Public Policy: Public policy refers to the actions and decisions made by governments or other authorized bodies to address public issues or concerns.
Social Justice: Social justice refers to the fair and equitable distribution of resources, opportunities, and rights in society.
Sustainable Development Goals (SDGs): The sustainable development goals are a set of 17 global goals adopted by the United Nations in 2015 as part of the 2030 Agenda for Sustainable Development. They serve as a universal call to action to end poverty, protect the planet, and ensure that all people worldwide enjoy peace and prosperity by 2030.
International Monetary Fund (IMF): The International Monetary Fund is an international organization established to promote global monetary cooperation, exchange stability, and balanced economic growth.
Economic Expansion: Economic expansion refers to the increase in a country's production of goods and services over time. It involves the growth of an economy measured by indicators such as Gross Domestic Product (GDP), employment rates, investment, and consumption.
Poverty Alleviation: Poverty alleviation refers to efforts aimed at reducing and ultimately eradicating poverty. It involves implementing strategies and policies to improve the living standards, access to basic needs, and economic opportunities for people living in poverty.