Sustainable Development Goals - Resource Mobilization Explained

1. Sustainable Development Goals - Resource Mobilization Explained SDGs or sustainable development goals are built on the success of MDFs (Millenium Development Goals) and aim to end poverty and discrimination across the globe. All countries, whether poor, rich, or middle-income are called to action by the SDG goals to protect the planet and promote prosperity. The goals recognize that poverty eradication goes hand in hand with other strategies that improve economic growth and target a range of social needs that include health, social protection, education, and job opportunities along with techniques to handle climate change and protect the environment. There are a total of 17 sustainable development goals consisting of 169 targets. Though SDGs are not legally binding, governments of all nations are expected to build national frameworks and take ownership to work towards achieving all the 17 SDGs. The primary responsibilities of countries are to have follow-ups and review how far the goals have been achieved with quick access to quality data. There are also supposed to be regional follow-ups that are based on analysis at the national level.

2. Resource mobilization is one of the pillars of SDGs and in this article, we will take a closer look at what the term “resource mobilization” means and what methods are applied to achieve it. What is Resource Mobilization in Relation With SDGs The success of achieving SDGs is dependent on various factors, one of the primary ones being the availability of fiscal resources to deliver the agendas like social services, social protection, and infrastructure which are embedded in the sustainable goals. ● A major portion of these financial resources is expected to come from domestic sources. ● Domestic resource mobilization or DRM is one of the core components of financial resources for DMCs (Developing Countries Members) of the ADB (Asian Development Bank) to meet the sustainable development goals. The SDG 17 has provisions or targets for strengthening the DRM. ● The developing countries face many structural problems in implementing SDGs that include climate change, aging, globalization, and their economies getting transformed digitally. ● DRM is the process of countries raising their own funds and spending to provide for their people. DRM is seen as a long-term path for accomplishing SDGs. ● Not only does DRM provide funds to governments in reducing poverty and delivering public services, but it is also a crucial step in a path out of aid dependencies. ● DRM does not translate to new taxes or higher tax rates, but the government raises revenues through simplified filing processes and improved audits. ● DRM programs that meet success are highly cost-effective as they return many times the amount invested in them. ● With the coronavirus pandemic, it is all the more clear that DMCs need to make massive investments in public services like health care and put in place public governance reforms to mitigate the rising income inequality. Due to these situations, domestic resource mobilization has become an increasingly critical agenda for developing countries to ensure that they can recover from the COVID-19 crisis in a resilient and sustainable manner. ● The world which has been reshaped by the pandemic needs ADB to address the DRM issue with a wider perspective that includes balancing between raising tax revenues and promoting investments that will ensure robust recovery from the pandemic. ● To support the developing countries' members and strengthen international tax cooperation and DRM, ADB 2020 annual meeting announced establishing a regional hub for local resource mobilization in Asia Pacific regions. The Asia Pacific Tax Hub will serve as an open platform for countries and development partners to share practical knowledge, experiences, and coordinate on development support.

3. Types of Resource Mobilization It needs collective actions to achieve SDGs and government effort alone is not enough. We need action from the private sector and civil society to address the development challenges. ● CSR - CSR stands for Corporate Social Responsibility and India is amongst the few nations who have rolled out CSR to bring the social capital earnings of companies under the ambit. Where SDGs define the targets to be met, CSR brings a robust framework to realize these targets at the regional level by leveraging the technical capacities of companies and their resource mobilization capacities.SDG achievement can be catalyzed by aligning CSR and SDG and re-orient the way public and private sectors interact to achieve three-dimensional sustainable development i,e, social, economic, and environmental. Resource mobilization in schools - Despite the efforts of governments, international communities, and civil societies, the world is still lagging behind in providing quality education for all. One of the reasons for this issue is the mobilization of financial resources and ensuring they are used effectively. Allocation of government expenditure in the education sector can be improved by examining spending patterns and mechanisms of allocation. Government must prioritize expenditure allocation for education and balance allocation efficiency with fiscal discipline to ensure simple reforms and adopt a long-term horizon. Social sector alignment with SDGs - Non-profit organizations play a crucial role in the SDGs framework by being an active connection for resource mobilization, citizen-oriented data, and problem identification. The NGOs can work to provide governments' and businesses' accountability. They create an enabling environment for accomplishing the SDGs targets as well as aid in raising awareness amongst citizens and communicating the progress of goals. ● ● SDGCC - Another Significant Part of SDG Sustainable Development Goals Coordination Center has been set up to provide technical know-how, resources, and expertise at state levels to put SDGs into action. SDGCC works with all departments to align their work with the SDG targets. With their whole government and whole society approach, SDGCC strives to forge innovative partnerships between the private sector, academia, and civil societies. SDGCC also helps in building capacity and awareness of all SDG stakeholders including media, government officials, youth, etc.