Those in the sustainable development space know that every year, the gap between SDG financing needs and available capital runs in the trillions--$2 trillion according to a conservative estimate. At the same time, the conversations surrounding the Sustainable Development Goals (SDGs) often includes the phrase "billions to trillions"--representing the point that in order to achieve the SDG agenda, finance flows for sustainable development projects have to grow exponentially…and fast. But with just 10 years to achieve this agenda, those finance flows are instead moving from the billions to the...billions.
For Episode 8 of Capital Musings, we sat down with Joan M. Larrea, CEO of the global blended finance network Convergence, to hear her insights on the current state of SDG finance, what blended finance can do to improve the status quo, and what it cannot do.
Capital Musings is a production of the Partnerships, Policy and Communications unit of the United Nations Capital Development Fund and the UN Web TV.