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The U.N., in coordination with almost 60 agencies and international institutions, recently published an assessment of the world's progress toward changing financing, policies, and regulations to achieve the SDGs. It finds that, despite positive momentum on sustainable investment, the goals will not be met unless we shift the entire financial system toward long-term investment horizons, and make sustainability a central concern. Without a long-term perspective, certain risks, especially those associated with climate change, will not be priced into private investment decisions.Global financial flows are vast, yet the quality of investment matters. A February 2017 McKinsey Global Institute survey found that 87 percent of corporate executives and directors feel "pressured to demonstrate strong financial performance within two years or less," while 65 percent say that "short-term pressure has increased over the past five years". Moreover, 55 percent said they would delay investments in projects with positive returns in order to hit quarterly balance-sheet targets.Aside from public investment, this is one of the state's most essential functions.
Multilateralism’s crisis is an opportunity
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