In 2015, the global community committed to achieving the UN Sustainable Development Goals (SDGs). We cannot achieve these goals without identifying internal and external financing sources for Emerging Market and Developing Countries (EMDCs). By 2030, the ambitious economic, social and environmental targets of EMDCs will likely double their financing needs to $5.4 trillion per year. This paper analyzes robust and significant sources of external public finance within the international community. We examine several financing instruments — most of which are already being considered for financing SDGs— and evaluate them based on six performance criteria. Our analysis highlights two options with the greatest potential: implementing a carbon tax on energy-intensive industries and using gross national income as a direct tax base for SDG contributions.
Cite this paper: Næss-Schmidt, H. S., Thöne, M., Schratzenstaller-Altzinger, M., Kastrop, C., & Weber, R. A. (2024, September). Financing the global commons to achieve the sustainable development goals. Global Solutions Initiative.
