United Nations, Inter-agency Task Force on Financing for Development
Climate Impact & Sustainability Data (2024)
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Sustainable Development Goals (SDGs)
- Climate Change
- Poverty Reduction
- Gender Equality
- Debt Sustainability
- International Financial Architecture
Environmental Achievements
- Increased investment in renewable energy, though insufficient to meet Paris goals.
- Agreement on a statistical definition of illicit financial flows (IFFs) related to criminal activities.
Social Achievements
- Significant progress in financial inclusion, with hundreds of millions gaining access to financial services.
- Increased attention to gender-responsive budgeting (GRB), though implementation lags.
- Progress on delivering the human right to social security, but large gaps remain.
Climate Goals & Targets
Environmental Challenges
- Large and growing SDG financing gaps (trillions of dollars annually).
- Tight financing conditions and high debt levels in many developing countries.
- Rising systemic risks, including climate change and disasters.
- Inequalities between and within countries.
- Geopolitical tensions and fragmentation of the global economy.
- Misalignment of public and private investments with SDGs.
- Inadequate access to long-term financing, especially in developing countries.
- Greenwashing and lack of standardization in sustainable finance.
- Slow progress on phasing out harmful fossil fuel subsidies.
Mitigation Strategies
- Proposals for reforms to the international financial architecture.
- Increased ODA for domestic revenue mobilization, though insufficient.
- Efforts to align public expenditure with SDGs.
- Growing interest in sustainable finance, but scale and impact remain limited.
- Efforts to strengthen international tax cooperation and combat illicit financial flows.
- Initiatives to improve data quality and transparency in sustainable finance.
- Calls for reforms to multilateral development banks (MDBs).
Supply Chain Management
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
- Disasters
Transition Risks
- High cost of capital for renewable energy projects
Opportunities
- Investment in renewable energy
Reporting Standards
Frameworks Used: SDGs, Addis Ababa Action Agenda, Paris Agreement
UN Sustainable Development Goals
- All SDGs
The report focuses on financing for all SDGs.