United Nations Global Goals For World Change To Cost $3 Trillion A Year

By R. Siva Kumar - 29 Sep '15 09:32AM

It is indeed a historic moment. Leaders from the United Nations have taken the decision to conceptualize giant-sized plans to fight poverty, inequality, climate change, and a number of other problems.

In the next 15 years, there will be huge global public and private support for the 17 Sustainable Development Goals, or SDGs for short, according to Reuters.

This decision was taken due to the beginning of the worst refugee crisis since Second World War, with the leaders deciding for "a little less conversation, a little more action."

Even as the SDGs announcement was historic, its implementation would be very tough, due to the sheer scope of the agenda, a practical checks and balances system and the funding of the project, reports MSN News.

However, it is estimated that the plan for the implementation of the plan would work out to be $3 trillion dollars a year. Organisation for Economic Cooperation and Development (OECD) Secretary-General Angel Gurria explains that the active cooperation of the private sector is crucial, with governments needed to strengthen tax and regulatory systems that can stoke investment, according to Yahoo! News.

"Without the private sector, it is not going to happen, as we have budgetary constraints in every country," Gurria said.

The various pledges for the project have begun, with the U.N. Secretary Ban-Ki-moon announcing that $25 billion will be invested initially over five years from 40 countries, as well as 100 international organizations, according to HNGN.

Pope Francis called adopting the SDGs "an important sign of hope."

"Solemn commitments, however, are not enough, even though they are a necessary step toward solutions," said the Pope as the Vatican flag flew for the first time outside the United Nations where security was increased.

He said world leaders should follow up with "a will which is effective, practical, constant, with concrete steps and immediate measures" to protect the environment and end social and economic exclusion.