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The year 2021 has seen a rise in global liquid assets to c.US$450 trillion and nearly US$100 trillion of annual output. Leading financial institutions provided US$2.5 trillion in SDG aligned financing, up 20%, breaking previous records, of a total global SDG spending from all sources of US$3.6-4.7 trillion.

However, the authors' recalculation estimates a funding need of up to US$176 trillion for the SDGs to 2030, up 15%-25%, and a shortfall of up to US$135 trillion, up 35%, added to a security scenario that may require spending to 2030 of US$60 trillion.

Leaders cannot bridge such a gap with exhortations for more commitments. The total global security and sustainability funding requirement through 2030 adds up to nearly half of the total capital stock in the world today. And that capital of US$450 trillion is already committed to business as usual and to endeavors that make the investment returns required to pay pension plans, taxes, employees, and risk takers. It is not a discretionary spend for levelling up the developing world.

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Published September 2022

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