Responding to the economic shock, relaunching growth, sharing economic benefits and addressing developing countries’ financing challenges

Economic activity provides livelihoods, jobs, incomes and the means to attain many other elements of a better life. However, in recent decades, economic growth has been accompanied by increasing or persistently high levels of inequality within countries – between the rich and poor, women and men, and different groups within society, such as between migrants and nationals. It has also been accompanied by growing environmental degradation. With current production and consumption systems threatening the well-being of present and future generations. Such trends seem set to continue and many have been brought to the fore with the differential impact of COVID-19 on different population groups, and national responses to it.

A fundamental reconfiguration is needed in economic policymaking and the production and consumption of goods and services, in tandem with a diminished environmental footprint and greater distributional justice that prioritizes gender equality, access to decent jobs, and social protection for all. Achieving this in line with the 2030 Agenda for sustainable development will require leadership from both the public and the private sector, shifts in social norms, and engagement with civil society and the science community.

Proposed guiding questions:

What are some promising actions to support progress toward sustainable economic growth and sharing economic benefits that generate synergies across Goals and targets? Are there trade-offs from these actions and if so, how can they be mitigated?
Which groups are especially vulnerable to missing out on economic benefits and decent work, and what are ways to ensure that actions leave no one behind?
How might responses to COVID-19 facilitate or complicate efforts to reduce these vulnerabilities including for informal workers and the working poor?
What long-term policy measures and social protections are necessary to promote the resilience of the most marginalized groups to economic and environmental shocks?
Are there examples of successful partnerships and initiatives to harness synergies and/or reduce trade-offs in economic systems?
What steps can be taken to promote the sustained participation of civil society organizations, women’s and girls’ organizations, youth-led organizations and national human rights institutions? Can these be scaled up or adjusted to fit other contexts?
What role can science, technology and innovation (STI) play in the transformation to sustainable and equitable economic systems, and how do we prevent STI from expanding inequalities within and among groups vulnerable to being left behind?

Chair:

H. E. Ambassador Mher Margaryan, Armenia, Vice President of ECOSOC

Moderator:

Mr. Mahmoud Mohieldin, Special Envoy on Financing the 2030 Agenda for Sustainable Development

Resource persons:

Ms. Carolina Sanchez Paramo, Global Director for Poverty, World Bank
Mr. Arunabha Ghosh, CEO of the Council on Energy, Environment and Water, India, and Member of the Committee for Development Policy (CDP)

Lead discussants:

Ms. Armida Salsiah Alisjahbana, Executive Secretary of ESCAP
Mr. Mamadou Diallo, Deputy General Secretary, International Trade Union Confederation, Senegal (Workers & Trade Unions Major Group)

Followed by interactive discussion