Public, Private, Philanthropic Sectors Must Coordinate, Commit To Achieving SDGs

The Guardian: Philanthropists can’t eradicate global poverty, but we can make a start
Jane Wales, vice president of the Aspen Institute and founder of the Global Philanthropy Forum

“…When it comes to financing poverty eradication, the [Sustainable Development Goals (SDGs)] are, by necessity, as much of a clarion call as they are a commitment. … [W]hile philanthropy’s contributions are significant, the combination of governmental development assistance and private philanthropy is measured in billions; the funding shortfall for the SDGs is in the trillions. Foundation leaders and development economists agree that capital markets, growing where there is sound policy, must be tapped. … Meeting the SDGs will require the engagement of all three sectors; the comparative advantage of each suggests a clear division of labor. The public sector has the authority to set public goals, advance norms, and mobilize funds through taxation. The private sector creates wealth, and offers both efficiency and scale. And, by virtue of its independence, the charitable sector — philanthropies and those they support — has the risk appetite, agility, creativity, and audacity required to devise novel methods for meeting the boldest of goals” (5/12).