CREATING AN ENABLING ENVIRONMENT FOR SUSTAINABLE DEVELOPMENT AT GRASSROOTS ASIA AND THE PACIFIC
- Lalbee S
- Sep 30, 2023
- 4 min read
Written by S. Lalbee, Law Student
Introduction
The Asia-Pacific Forum on Sustainable Development (APFSD) is an annual intergovernmental meeting open to all countries that also serves as a regional platform for aiding states, especially those with specific needs, in achieving the 2030 Agenda for Sustainable Development. It also acts as a regional meeting for nations to prepare for the high-level political conference. The Forum provides a regional perspective on the implementation of the 2030 Agenda by identifying regional trends, compiling and disseminating best practices, and exchanging lessons learned. The Forum considers major stakeholders' participation, including regional and sub-regional organizations, as well as United Nations system agencies (at the regional level). The APFSD also fosters regional monitoring and assessment of the progress of the 2030 Agenda.[1]
Sustainable Development In Asia And Pacific
Economic expansion techniques in Asia have influenced the use and availability of natural resources, resulting in environmental degradation. However, the same techniques resulted in rapid development and a significant poverty reduction.[2] Countries are seeking to figure out how to maintain vigorous growth while simultaneously properly managing natural resources and the environment. Governments have long recognized the need for more sustainable development, and pursuing only the biggest short-term growth is unsustainable. However, to make these ambitions a reality, we must reexamine how economic development is measured and understood in ways other than physical production.
Sustainable Development And Finance Reshaping Asia
Governments in Asia's strong economies are leading concerted efforts to increase sustainable financing. Governments and large financial institutions are striving to create a market for new securities such as green bonds and environmental, social, and governance (ESG) investments. While innovative treatments from other markets are being ramped up here, Asia is pioneering new processes. Asset managers are leading the push to incorporate sustainability into the core of their investment strategies across the region, often in novel ways. Multilateral and bilateral development banks must persuade their client countries that supporting programs that promote sustainable development will not stifle growth, but rather provide the groundwork for long-term progress.[3]
SDG and Transformative Development
Asia and the Pacific, which include two-thirds of the world's population and some of the world's most powerful economies, have assisted billions of people in escaping extreme poverty during the last several decades. Nonetheless, when the SDGs were developed in 2015, 273 million people in the region were still earning less than $1.90 per day, and 1.1 billion were living extremely near to the poverty line on less than $3.20 per day.[4] Economic development has not always resulted in great job prospects for everybody, and inequality has been a chronic issue. Oceans and forests are under greater stress than ever before, and greenhouse gas emissions are rapidly increasing, making environmental concerns more pressing. ADB's Developing Member Countries (DMC) were already behind schedule in reaching all 17 SDGs when the coronavirus illness (COVID-19) pandemic in 2020 sparked a broad human and economic disaster. The 2030 Agenda for Sustainable Development is receiving more support from ADB during its Decade of Action.
2030 Agenda
The 2030 Agenda was created in response to current and recent development issues in Asia and the Pacific. Extremist groups and ideologies are expanding, as are complex disparities, climate change, natural disasters, growing urbanization, demographic shifts, disruptive technologies, and disruptive technologies. Effective SDG implementation necessitates a knowledge of how these developments may aid or impede progress toward gender equality and sustainable development. The 2030 Agenda is a commitment by all governments and interested parties to chart a new course toward sustainable development through more effective global action, new alliances, enough resources, and an integrated plan to achieve all objectives. The stand-alone Goal 5 and the mainstreaming of gender equality across the SDGs address gender equality and women's empowerment as a stated priority. The 2030 Agenda represents a commitment to leaving no one behind but also acknowledging the multifaceted inequality that exists both within and between nations.[5]
Renewing Commitment to the SDGs
As nations work to recover from the COVID-19 epidemic, a stronger emphasis on the SDGs will be required if they are to be met by 2030. Governments must reconfirm their long-term leadership and commitment, while also enacting helpful macroeconomic policies. Furthermore, they must improve internal departmental coordination and prioritize the SDGs when distributing public monies. The conditions for corporations, consumers, non-governmental organizations, and foreign donors to successfully contribute to the attainment of the SDGs must be created.
In Asia and the Pacific, Progress has been made toward the Sustainable Development Goals
Rapid technological breakthroughs will have a huge influence on Asia-Pacific civilizations. The present production, administration, and governance systems are expected to alter as a result of the Fourth Industrial Revolution, which is characterized by technological developments such as artificial intelligence, automation, and biotechnology. The ability of nations to embrace and adapt to impending technology developments will determine whether or not they meet the promise of the 2030 Agenda for Sustainable Development and achieve the Sustainable Development Goals (SDGs).
Conclusion
Because of the Asia-Pacific region's diversity, different nations will experience the Fourth Industrial Revolution in different ways. However, this research and the accompanying UNDP policy recommendations highlight important areas where urgent action might increase a country's potential to embrace opportunities brought forth by continuing, unstoppable technological growth. Each government is accountable for developing policies that are tailored to its own economic and social context. The goal of this study and its recommendations is to assist in this process, primarily by proposing themes for further research and providing guidance for institutional and policy design that may aid societies in embracing the opportunities provided by technological progress while managing any potential drawbacks. [6]
References
[1] sdg.iisd.org/events/asia-pacific-forum-on-sustainable-development-2023/
[2] asiapacific.unwomen.org/en/digital-library/publications/2018/10/apsdg
[3] adb.org/what-we-do/topics/sdg
[4] ideas.repec.org/s/unt/japsdj.html
[5] opengrowth.com/resources/sustainable-development-in-Asia
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