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SDGs: Do we need a Global Network of Implementation Models?

ARTICLE | | BY Erich Hoedl


Erich Hoedl

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The evolution toward a global human society depends on a variety of social movements. Parallelly, new societal paradigms emerge from time to time. The “Global Leadership for the 21st century” Project (GL21) is a catalytic initiative to create consciousness of high complexity of transformational processes. Implementation of SDGs will decisively be enhanced through creation of additional cryptocurrencies, which can be complemented through channelizing currently abundant financial means of the prevailing global financial system. For both financial sources, an “Implementation Science” will accelerate the transition into real productive activities. The global stream of financial means is primarily in the hands of capital owners. System Change Investment gives priority of wellbeing over capital return. A modified global financial architecture and a focus on implementation will enhance the evolution of prevailing global distribution of financial capital toward global sustainability.

"A global strategy enlarged through additional capital from crypto money and a revised global financial architecture will deepen interdisciplinarity. Creating a global network with highly diverse models of SDG implementation will accelerate the evolution toward global sustainability."

Abstaining from inherited views that the economy is the backbone of the society needs a change in the outdated Bretton Woods Agreement. The original concept of a new global economic order with fixed exchange rates, free trade and national political autonomy failed definitely in 1972 and afterwards IMF, World Bank and WTO came under the umbrella of Neoliberalism. Following recurrent economic, social and ecological crises, IMF and World Bank turn very reluctantly to some sustainable policy and WTO perceives failures of globally uneven working conditions. Redistribution of voting rights in governing boards will marginally contribute to an equal global evolution. A new “global contract” needs a fundamental change in the Bretton Woods Agreement. Effective stabilization of global financial markets by IMF has to include in its steering framework offshore financial capital, World Bank has to develop into a World Development Agency and WTO has to set binding social and environmental standards. Raised money from reorganization of the Bretton Woods Agreement will be a complement to the needed global crypto-currencies.

Collecting money for achieving SDGs has to be coupled with the organization of implementation processes. Factual implementation of SDGs depends on an increasing awareness of local and national needs, project-oriented organization and infrastructure and co-financing with country-specific financial means. Cooperation between countries and channeling funds for real productive activities will ensure benefits for participating partners. The Marshall Plan, for which the USA spent up to 10% of its budget for European Reconstruction, benefited from employment of homecoming soldiers and taming Soviet expansion. Spending abundant financial means and additional cryptocurrency for SDGs will induce a comparable mechanism. For example, cooperation for SDG implementation in Africa will need beyond money transfer, less agro subsidies in Europe and fair trade of natural and industrial goods. To ensure self-selected priorities, African countries have to co-finance through taxation of high income and reduction of offshore investment. Sustainable development in receiving countries will contribute to fair public administration and spending countries will gain from increasing demand and reduction of migration.

Most urgent needs in developing countries and abundance of capital in industrial countries facilitate a retransfer of wealth resulting from former colonialism. Implementation of SDGs needs a vigorous improvement in educational systems, including entrepreneurial behavior and technological and organizational knowledge. Increasing scientific capacities result from establishment of interchanges through common platforms. Factual implementation of SDGs induces local and regional learning processes and initiates project-oriented cooperation with businesses in the industrial world. Fragmentary existing and mainly national networks of development agencies in industrial countries work in a partly interdisciplinary manner and cooperate with diverse social groups, but they have limited national and global impact. A global strategy enlarged through additional capital from crypto money and a revised global financial architecture will deepen interdisciplinarity and include contextual circumstances. Creating a global network with highly diverse models of SDG implementation will accelerate the evolution toward global sustainability.

About the Author(s)

Erich Hoedl

Board of Trustees, WAAS; Visiting Researcher, Columbia University, New York; Vice-President, European Academy for Sciences and Arts