Insights and trends in the global response to the COVID-19 induced crisis
Session Date: 19 June 2020 at 15:30 CEST
Over the last few months, expressions of alarm have cohabited with optimism in a unique way. The COVID-19 crisis has reaffirmed the role of public authorities to lead the response of wider society. In matters of weeks over US$8 trillion has been mobilized to avoid even larger crisis-induced business losses. Despite this vigorous response, COVID-19 will have an enduring negative impact on efforts to achieve the Sustainable Development Goals (SDGs). Over US$100 billion of capital has already flown out from developing countries, including from the most vulnerable and poorest-a drop even sharper than the one experienced during 2008 financial crisis. This session presents ways in which enabling measures to finance the SDGs and catalytic investments can bring the world back on track in achieving the SDGs. It therefore explores two solutions to fill the “SDG investment gap” (i.e. the money needed to achieve the SDGs) that were already in play prior to COVID-19 but become even more important today: the emergence of fintech (i.e. technological innovations in the financial sector) and new tools that allow the science-based measurement of the impact of businesses to the SDGs.