Summit of the Future

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Overview:

Recently, the UN Secretary General has said that the reform of multilateral development banks (MDBs) will be a key theme at this year’s Summit of the Future.

About Summit of the Future

  • It is a high-level event, bringing world leaders together to forge a new international consensus on how we deliver a better present and safeguard the future.
  • It serves as a moment to mend eroded trust and demonstrate that international cooperation can effectively tackle current challenges as well as those that have emerged in recent years or may yet be over the horizon.
  • The high-level event will bring together UN Member States, UN agencies, non-governmental organizations (NGOs), civil society organizations (CSOs), academic institutions, the private sector, and youth under the theme, ‘Summit of the Future: Multilateral Solutions for a Better Tomorrow’.
  • The aim is to build upon the Sustainable development Goal (SDG) Summit and deliver an action-oriented Pact for the Future to accelerate progress towards the Sustainable Development Goals.
  • This will be achieved through an action-oriented outcome document called the Pact for the Future.
  • The Pact will be negotiated, and endorsed by countries in the lead-up to and during the Summit in September 2024.
  • UN Member States have agreed the Summit of the Future is centered around five key targets:
    • Reaffirm the UN Charter.
    • Reinvigorate multilateralism.
    • Boost implementation of existing commitments.
    • Agree on solutions to new challenges.
    • Restore trust.

Q1: What are Sustainable Development Goals (SDG’s)?

These are also known as the Global Goals, were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. The 17 SDGs are integrated—they recognize that action in one area will affect outcomes in others, and that development must balance social, economic and environmental sustainability.

Source: UN secy-gen backs India’s multilateral development banks reform work