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August 18, 2020
With just 10 years to go to deliver on the 2030 Agenda, shifting the global economy to sustainable consumption and production during the decade of action is critical to achieving the SDGs.
Yet, sustainable resource management is on a long-term trend in the wrong direction.
Globally SDG targets 12.2 and 8.4 indicate that ever-increasing amounts of natural resources are used to support our economic activity, while the efficiency with which resources are used remains unchanged. It is thus clear, that the world has not yet seen the effective decoupling of economic growth from environmental degradation.
Reversing the negative trend requires transforming how we use and manage natural resources in our socio-economic systems.
A shift to addressing SDG 12 in national economic plans, financial policy instruments and national budgets – rather than in environment portfolios – is crucial, together with measures to ensure a socially equitable transition. This would enable the integration of natural resources and the full costs of their related impacts and negative externalities into economic policies and instruments.
Read the full report to the HLPF here
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