联合国贸易发展委员会-可持续发展目标投资正在增长，但增长太慢：投资缺口目前为4万亿美元，高于2015年的2.5美元（英）-2023.9-14页_2mb

SDG Investment Trends Monitor Summary

Core Content

The SDG Investment Trends Monitor highlights the progress and challenges in achieving the Sustainable Development Goals (SDGs) through international investment. Despite some growth, the investment gap remains a significant barrier to meeting SDG targets by 2030.

Main Findings

• SDG Investment Growth in 2022: The number of international investment projects in SDG sectors in developing countries increased by 15% in 2022. However, this growth was uneven, with some sectors showing slow progress and others experiencing negative trends, particularly in Least Developed Countries (LDCs), which saw a -9% decline.
• 2023 H1 Decline: Preliminary data for the first half of 2023 shows a -7% drop in the number of SDG-related projects compared to the first half of 2022.
• Investment Gap: The annual SDG investment gap in developing countries is now $4 trillion, up from $2.5 trillion in 2015. To meet SDG investment needs by 2030, an additional $30 trillion must be mobilized over the next eight years.
• Energy Transition Dominates: Over $2.2 trillion of the gap relates to the energy transition, particularly clean energy. The investment gap in Water and Sanitation is also significant, at around $300 billion annually, and together with Energy, accounts for over 70% of the total investment gap.
• Infrastructure Needs: Investment in economic infrastructure (excluding energy) is crucial for SDG 9 and includes transportation and telecommunications, with a combined annual gap of $400 billion.
• Food and Agriculture: Requires $300 billion annually to address SDG 1 and SDG 2, and is also vital for SDG 13 on climate action.
• Biodiversity: The investment gap is around $300 billion, focusing on SDG 14 and SDG 15, with a significant overlap with climate action.
• Health and Education: These sectors are critical for social infrastructure and sustainable development, but their capital expenditure (capex) needs are lower compared to other sectors, ranging from $100 billion to $600 billion annually.

Key Drivers of the Investment Gap

• Underinvestment: The growth of SDG investment has been insufficient compared to 2014 ambitions, with the Covid-19 pandemic significantly slowing progress.
• Exogenous Shocks: Global crises such as the pandemic, food, fuel, and finance shocks have increased investment needs, particularly in developing countries and LDCs.
• Climate Change: The climate emergency has intensified, with extreme weather events becoming more frequent and severe, increasing the need for climate-resilient investments.
• Uneven Progress: While some sectors like Renewable Energy have seen growth, others such as Water, Sanitation and Hygiene (WASH) have experienced declines.

SDG Investment Gap by Sector

Investment Trends

• Positive Trends:
  • Infrastructure (transport, power, and telecommunications) saw an increase in both project numbers (+3%) and value (+4%) in 2023 H1.
  • Renewable Energy had a +18 times increase in project numbers in LDCs due to a large greenfield project in Mauritania.
• Negative Trends:
  • WASH saw a -47% decline in project numbers in 2023 H1.
  • LDCs experienced a -13% decline in SDG investment in 2023 H1.
  • Health and Education saw declines in both project numbers and value.

Key Challenges

• Global Crises: The pandemic and other economic shocks have disrupted investment flows, especially in LDCs.
• Financing Constraints: Developing countries face financial limitations in public spending and difficulty in attracting international capital.
• Unbalanced Growth: While some sectors show growth, others lag, highlighting the need for targeted investment strategies.

Six Action Packages

UNCTAD proposes six action packages to accelerate investment in SDGs:

1. National Investment Policies
2. International Investment Engagement
3. Focused Partnerships for the SDGs
4. Regional and South-South Cooperation
5. Innovative Financing Solutions
6. Resilience to Future Crises

These packages are designed to support the next push for SDG investment and are based on UNCTAD's long-standing research and policy analysis.

Conclusion

Although SDG investment has grown, the investment gap remains substantial, and progress is uneven. The energy transition is the most significant contributor to the gap, followed by water and sanitation. Addressing this gap requires a comprehensive and coordinated approach involving national and international stakeholders, innovative financing, and regional cooperation.