A once-in-a-decade summit began in Seville, Spain, bringing together more than 50 world leaders to address the urgent need for progress on poverty reduction, climate action, and sustainable development goals. The summit takes place at a time when several of these objectives are in serious danger of not being achieved.
United Nations Secretary-General Antonio Guterres stated that the event intends to “repair and rev up” global collaboration, warning that trust is deteriorating and multilateralism is under threat.
The United States, led by President Donald Trump, did not attend the summit, a major absence as the world’s largest economy refused to support a year-long action plan. Guterres emphasised that the 2030 Agenda for Sustainable Development is at risk, and urgent action is required to assist countries in their development efforts.
He emphasised that more than $4 trillion in yearly funding is required to meet the targets, urging quick reform of global financial systems. Guterres emphasised the importance of lowering borrowing costs for poor countries, equitable debt restructuring, and crisis prevention through transparent debt management and debt swaps to minimise capital costs.
