Global financial institutions need reforms to sustain development goals of UN: Sunil Bharti Mittal

KOLKATA: Bharti Enterprises chairman Sunil Mittal called for stronger coordination and constructive dialogue between the public and private sectors coupled with reforms in global financial regulation to garner bigger investments for the UN’s sustainable development goals (SDGs).

Mittal, who is also honorary chairman of International Chamber of Commerce (ICC), co-chaired the World Economic Forum (WEF) second annual Sustainable Development Impact summit currently underway in New York.

“Mobilising investments for SDGs requires unprecedented coordination between public and private institutions and significant reform to global financial regulation and financial institutions,” the Bharti chairman said Tuesday.

Mittal said orienting a complex global financial system towards SDGs has challenges, “but it can be done”.

Transformation, he said, can only be achieved through “a deeper and purpose-driven dialogue” between the public and private sectors.

Convened on the sidelines of the 73rd session of the UN General Assembly, the goal of the summit is fast-tracking solutions for financing development, renewable energy, sustainable value chains and other far-reaching, systemic challenges to United Nations’ SDGs.