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Abu Dhabi: Global Mission, an Abu Dhabi-based nonprofit, and its global partners have established a $17 billion fund to help achieve the United Nations’ 17 Sustainable Development Goals (SDGS) globally, a A senior executive told the Emirates News Agency (WAM).
“This ‘Global Sustainability Fund’ is the most ambitious SDG fund in the world. Headquartered in Abu Dhabi Global Market (ADGM, the capital’s international financial centre), the fund is targeting $17 billion in funding, with each fund raising $1 billion USD will be allocated to each SDG,” said Mohamad Elsamad, Executive Director of Operations and Administration at Global Mission.
In an exclusive interview with WAM, he highlighted this as an initiative on the occasion of the UAE’s 50th anniversary. “Thanks to this great country, this amazing capital, Abu Dhabi, is witnessing the birth of such an ambitious project, and we have full confidence and confidence in achieving and even exceeding our goals.”
committee overseeing the global fund
Since its establishment in Masdar City, Abu Dhabi in 2017, under the leadership of Khalid Al Mutawa, Global Mission has been working with global stakeholders including the United Nations, governments, NGOs and other international players Support the achievement of the Sustainable Development Goals. world, Elsamad said. He revealed: “After overcoming certain hurdles such as the global pandemic, on September 25th, the birthday of the SDGs known as ‘Action Day’, we were able to form a committee to oversee this ambitious fund .”
Chaired by Elsamad, the committee comprises representatives of many global stakeholders working to achieve the SDGs.
As part of the 2030 Agenda for Sustainable Development, adopted by all UN Member States in 2015, the 17 Sustainable Development Goals are an urgent call for action by all countries in a global partnership. Combined with strategies to improve health and education, reduce inequality and stimulate economic growth, while tackling climate change and working to protect our oceans and forests, the UN said.
Elsamad noted that while there are only eight years left to achieve the SDGs by 2030, little progress has been made so far. “Actually, it’s the opposite. We’ve experienced more environmental degradation, more hunger, and more climate change over the past few years. But we’re very hopeful that we can still make changes. If you create Anything can be done with the right mindset with the right people.”
100 projects to start
Elsamad said the Global Fund for Sustainable Development Council has identified about 100 projects that will begin collaborating within the first 12 months.
“These projects will be implemented in partnership with the government and the private sector. It will be a PPP [public-private partnership] platform. “
The Right Platform for the Planet There are many leaders, companies, managers and individuals who want to make a difference but don’t know how to take the initiative, the executive said. “So if you create the right platform and you can make an impact faster, it’s easier for all the other enthusiasts to get on board.”
He made it clear that these projects would not be limited to any particular country, region or continent. “We want to work for the entire planet. We need to create the right environment for investors and companies to achieve the right goals to make an impact under the SDGs.”
He clarified that these projects would be beneficial to investors as sustainability also means financial sustainability. “So we will work hand in hand with business. But for us the main goal will be the real impact under the SDGs.”
Health and environment priority
When asked about the top priorities in the SDGs, he said health would be one of the main goals. “Then we’ll have some projects on the environment, focusing on carbon emissions, plastic pollution, clean water, etc.”
Elaborating on projects in the health sector, Elsamad said there is a severe shortage of manpower and medicines that must be addressed.
“Once we set up the fund, it immediately invests in certain projects that are ready but need funding. Each project will be assessed and rated through our own internal rating system.”
The council will soon announce its directors, mostly entrepreneurs, environmentalists and advisers to governments and UN organisations. “They will work together for this great cause,” Elsamad said.
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