150 countries will see lower GDP per capita levels in 2021 compared to 2019, and progress towards the SDGs has faltered. Moreover, the COVID-19 pandemic aggravated existing inequalities between high- and low-income countries whose capacities to provide adequate fiscal responses varied significantly.

To get the 2030 Agenda back on track in 2022, the international financial system is encouraged to provide more ambitious lending, additional liquidity, and renewed support for much-needed reforms of the international financial architecture.

Debates about the Anthropocene era are fostering greater appreciation for the complex and interdependent relationship between socioeconomic and natural systems. We need more knowledge on how to account for Anthropocene risks and the value of the biosphere as a service provider. Furthermore, such knowledge must inform the development indicators used by financial actors and their supervisory authorities to ensure that development financing remains fit for purpose.

The pandemic has exposed serious shortfalls in global emergency preparedness. Multiple variants of the Coronavirus are emerging and there are insufficient funds to scale up the necessary tools and vaccination programmes, particularly in low- and middle-income countries.

Although US$ 14.1 billion has so far been made available, another US$ 19 billion will be required in 2021, in addition to long-term sustainable investments in national health systems.

The World Health Organization (WHO) is facing a serious funding shortfall for its 2022–23 programme budget, with forecast financing for the period reaching less than 45% of the proposed programme budget.

At the same time, the proportion of flexible and assessed contributions has shrunk to 17% of the total programme budget. To address these issues, the WHO Executive Board has set up a working group to identify principles for its sustainable financing.

Human rights constitute one area where the UN’s resources do not align with its vast mandate. Although a human rights-based approach is integral to the UN’s interventions in mission and non-mission settings, in 2021 only 4% of its regular budget (excluding Humanitarian Affairs) was allocated to the human rights pillar.

Addressing this underfunding is essential for the UN to implement critical human rights activities, many of which are central to the success of its development and peace and security work.

Member States should reinvest a portion of the savings generated by the downsizing of peacekeeping into the UN’s conflict, prevention and peacebuilding capabilities. Despite the centrality of preventing and ending conflict as a motivation for the UN’s establishment, the organisation’s existing capacities in support of this goal – particularly outside of peacekeeping environments – rely on a mix of unpredictable funding mechanisms.

Much of this capacity is either voluntarily funded or dependent upon the size and number of peacekeeping operations.

It is essential to complement traditional funding for peacebuilding with blended finance, which in turn can support employment generation, economic inclusion, and more equitable access to social services.

In addition to increased voluntary and assessed contributions, it is important that new financing options continue to be explored, and that efforts to generate adequate and predictable funding for peacebuilding be renewed.