There is a consensus in government that the SDGs can only be achieved with the involvement of the private sector working alongside governments, Parliaments, local authorities, civil society, and the scientific and academic community. However, the role of the financial services industry in relation to the SDG’s has so far remained relatively unexplored by policymakers. There is a tendency for policymakers to focus on the roughly £150 billion worth of official development assistance, but there needs to be an increased focus on the £300 trillion of capital in the global markets. If this £300 trillion is harnessed to support, rather than undermine, sustainable development globally, it could be transformative in achieving the Goals.
Financial services has a vital role to play, as fuelling the transition to a sustainable and inclusive global economy by 2030 will require significant amounts of capital. The Principles for Responsible Investment, of which the IFoA is a Network Supporter, considers 13 of the 17 SDGs directly investible, with the others either being Goals where the financial sector can assist in positive transformation, or where the goals support positive financial activity.
In October 2018, the IFoA hosted a webinar on the UN’s Sustainable Development Goals (SDGs). Watch the webinar
The IFoA have also compiled a list of useful resources from academics, businesses, industry bodies and supranational organisations that are engaging with the SDGs and considering how financial services can respond.
"The SDGs are the blueprint to achieve a better and more sustainable future for all. Using their unique skill and expertise, actuaries have an important role to play in achieving the 2030 agenda."
Lucy Saye - Sustainability Board