We have updated our Privacy Policy and Terms of Use for Eurasia Group and its affiliates, including GZERO Media, to clarify the types of data we collect, how we collect it, how we use data and with whom we share data. By using our website you consent to our Terms and Conditions and Privacy Policy, including the transfer of your personal data to the United States from your country of residence, and our use of cookies described in our Cookie Policy.
{{ subpage.title }}
Why the UN's 17 Sustainable Development Goals are not on track to be financed soon
The world faces a sustainable development crisis, and while most countries have strategies in place, they don’t have the cash to back them up. How far off track are we with the financing needed to support the UN’s 17 Sustainable Development Goals, ranging from quality education and health care to climate action and clean water?
Shari Spiegel, who runs the UN’s Financing for Sustainable Development Office, sat down with GZERO’s Tony Maciulis at a Global Stage event for the IMF-World Bank Spring Meetings this week. She explains that the SDGs were off track even before the pandemic and that now, owing to global crises, many poorer countries have slipped backwards.
“We actually started backtracking on many of these goals as countries were under enormous stress, and particularly the poorest countries,” she said, noting that the global output of many of the poorest nations has fallen by 30% — and some, such as the Small Island Developing States, by 40%. This has led to an enormous finance divide — raising SDG financing and investment gaps from $2 trillion a few years ago to around $4 trillion today.
So how can the UN restrengthen multilateralism and, in turn, help narrow this gap? Watch here.
For more of our 2024 IMF/World Bank Spring Meetings coverage, visit Global Stage.
Are markets becoming immune to disruptive geopolitics?
There’s no escaping the intricate link between economics and geopolitics. Today, that link has become a crucial factor in investment decision-making, and who better to speak to that than Margaret Franklin, CEO of CFA Institute, a global organization of investment professionals? Franklin sat down with GZERO’s Tony Maciulis at a Global Stage event for the IMF-World Bank spring meetings this week.
Economists once predicted that sovereign debt would overwhelm global markets. But now, having been through the pandemic, the advent of AI, and wars in the Middle East and Ukraine, “there's almost a level of immunity,” she says, “to the dramatic nature of it until something really cataclysmic happens.”
And then? “The response, generally speaking, has been pretty positive,” Franklin says, with central bank intervention saving markets and building resilience.
In much the same way, the World Bank is trying to boost investor confidence by making changes that leverage private sector capital for public sector goals by better evaluating what level of risk the private sector will accept.
Individual investors should do the same, Franklin advises. “Really evaluate your risk profile … making sure you diversify,” she says, noting that fixed-income offerings have become more attractive. Younger investors, meanwhile, need to be cautious with getting their information on social media, she adds.
For more of our 2024 IMF/World Bank Spring Meetings coverage, visit Global Stage.
Why Africa's power partnership with the World Bank should attract investors
There’s a word frequently used at global convenings like the World Bank Group’s Spring Meetings held this week in Washington, D.C.—multistakeholder. It refers to an approach to problem solving that involves input from a wide range of players—governments, civil society, private sector corporations and investors.
It will take a multistakeholder approach to bring an ambitious new project announced Wednesday to fruition, an initiative to provide electricity to 300 million people in Africa by 2030.
Of the world’s nearly 800 million people living without power, an estimated 570 million are in Sub-Saharan Africa, according to the World Bank. The organization is partnering with the African Development Bank and its own International Development Association to provide up to $30 billion in funding, but is also banking on private sector investment to help make this plan a reality.
At the meetings this week, GZERO’s Tony Maciulis spoke to Lucy Heintz, Head of Energy Infrastructure at Actis Energy Fund, a global investment company focused on sustainability. Heintz expressed optimism in the announcement and explained the reasons why it could be attractive to investors.
“This is a great ambition and it's a huge plan,” Heintz said. “If it's met on the other side by a real intent to do business by government, wherever those governments may be, in those countries where energy access is still lacking, then I think you can start to see the pieces fall into place.”
Heintz explained there are already tools in place that mitigate risk for cross-border private investors, such as the Multilateral Investment Guarantee Agency (MIGA), a World Bank organization that provides insurance for noncommercial political and economic risk.
Success stories already exist globally, Heintz explained, with India being a prime example.
“India has put in place the right legislative frameworks, the right regulation,” she said. “It's also invested in the enabling environment. So, there's a very successful transmission grid investment program, which is led by the government, but then brings in private sector once those projects are de-risked.”
As for concerns about carbon emissions and environmental risk from expanding electricity generation, Heintz says there is a greater danger in not bringing more people to power.
“Reliable electricity supply is fundamental if you want to have any ability to mitigate the risks of climate change, whether it's refrigeration, cooling, the ability to earn a livelihood, it's fundamental,” she said. “I think that's the most important thing to have in mind.”
For more of our 2024 IMF/World Bank Spring Meetings coverage, visit Global Stage.
How to tackle global challenges: The IMF & World Bank blueprint
The International Monetary Fund and World Bank’s Spring Meetings in Washington have told a tale of two economies: In the developed world, inflation is falling, and recession looks unlikely. But many of the world’s poorest countries are struggling under tremendous debt burdens inflated by rising interest rates that threaten to undo decades of development progress. That means these key lenders of last resort have their work cut out for them.
The good news? There’s a proven model, as GZERO Senior Writer Matthew Kendrick discussed with Tony Maciulis at a Global Stage event while reporting on the meetings. Somalia, once the byword for a failed state, managed to implement massive reforms to its financial system to meet the guidelines of the IMF’s Highly Indebted Poor Countries Initiative.
“Because they met those guidelines — while still in a very fragile environment where they were fighting Islamic extremists in the country, dealing with semi-autonomous zones in the north — they managed to discharge 90% of their debt,” said Kendrick. “It's proof that even in very fragile countries, if, as the Somali finance minister said yesterday, you build these projects into nationally unifying efforts to build a better future, they can have tremendous success.”
Kendrick also cited comments from experts calling for the IMF and World Bank to change how they view humanitarian work more generally and not back away from countries amid war. “Conflicts are becoming a day-to-day part of our lives all over the world,” he says. “That means that the IMF and World Bank, in order to make progress on development, have to figure out ways to work with the institutions in these countries as they are also in conflict.”
For more of our 2024 IMF/World Bank Spring Meetings coverage, visit Glogal Stage.
- IMF says economic picture is rosy, but how does it look from the bottom? ›
- Debt limits of rich countries hurt poor countries' growth, says World Bank's Malpass ›
- What We're Watching: Nigerians vote, Biden's World Bank pick ›
- World Bank economist: The poorest are getting poorer globally ›
- With electric bills soaring, should the EU cap natural gas prices? ›
- Why Africa's power partnership with the World Bank should attract investors - GZERO Media ›
Online violence means real-world danger for women in politics like EU's Lucia Nicholsonová
Content Warning: This clip contains sensitive language.
In a compelling dialogue from a GZERO Global Stage discussion on gender equality in the age of AI, Lucia Nicholsonová, former Slovak National Assembly vice president and current member of European Parliament for Slovakia, recounts her harrowing personal experiences with disinformation campaigns and gendered hate speech online.
Ms. Nicholsonová read example messages she receives online, such as, "Damn you and your whole family. I wish you all die of cancer."
She also has faced false accusations of past criminal activity through deliberate online misinformation campaigns, which she says led to endured public humiliation and threats, even experiencing strangers spitting on her in the streets. These attacks were fueled by misogyny and prejudice and took a toll on her mental well-being and family life.
As Ms. Nicholsonová recalls, “It was a real trauma because I mean, at some point I wasn't able to go out of my home because I felt so threatened.”
The conversation was presented by GZERO in partnership with Microsoft and the UN Foundation. The Global Stage series convene heads of state, business leaders, technology experts from around the world for critical debate about the geopolitical and technology trends shaping our world.
Watch the full conversation here: What impact will AI have on gender equality?
- Atwood and Musk agree on Online Harms Act ›
- Facebook allows "lies laced with anger and hate" to spread faster than facts, says journalist Maria Ressa ›
- Facebook allows "lies laced with anger and hate" to spread faster than facts, says journalist Maria Ressa ›
- AI and Canada's proposed Online Harms Act ›
- What impact will AI have on gender equality? - GZERO Media ›
The online abuse crisis threatens the mental health of young women worldwide
In a GZERO Global Stage discussion from the sidelines of the United Nation's 68th Session of the Commission on the Status of Women, the pervasive issue of online abuse and harassment faced by young women was in the spotlight.
Michelle Milford Morse, the UN Foundation's Vice President for Girls and Women Strategy points out that “more than half of young women are experiencing some form of abuse and harassment online, sometimes as young as eight,” underscoring the urgent need for collective efforts to combat online abuse and create safer digital spaces for everyone, but especially women. Milford Morse points out the importance that we all work towards a future where everyone can thrive free from fear and harassment in both physical and digital environments.
The conversation was presented by GZERO in partnership with Microsoft and the UN Foundation. The Global Stage series convene heads of state, business leaders, technology experts from around the world for critical debate about the geopolitical and technology trends shaping our world.
Watch the full conversation here: What impact will AI have on gender equality?
What impact will AI have on gender equality?
At the current rate of progress toward gender equality, the World Economic Forum estimates it will take 131 years for women to attain parity in income, status, and leadership.
While technology is a powerful tool to help close the gender gap, it can also be weaponized. GZERO’s special presentation “Gender Equality in the Age of AI” featured candid conversations about the opportunities and threats that exist online, and how artificial intelligence will impact them.
Produced on the sidelines of the 68th United Nations Commission on the Status of Women, the program featured leading experts from government, technology, and philanthropy. Moderator Penny Abeywardena, former NYC Commissioner for International Affairs, was joined by Jac sm Kee, co-founder of Numun Fund; Vickie Robinson, general manager of the Microsoft Airband Initiative; Michelle Milford Morse, the United Nations Foundation’s vice president for Girls and Women Strategy; and Lucia Ďuriš Nicholsonová, a member of the European Parliament from Slovakia.
“The beauty and the promise of digital technologies is the opening up of democratic and civic participation space,” said Jac sm Kee. “But what is happening right now is the direct closing down of these spaces through deliberate attacks.”
The discussion focused on three key areas: gender-based online violence, the need for greater digital inclusion and access, and increasing leadership roles for women in all aspects of public life.
In a recent study from UNESCO, 58% of women and girls surveyed globally said they had experienced online violence, defined as a range of abuses including harassment, stalking, and defamation. Female journalists and politicians experienced these threats in even higher numbers.
During GZERO’s program, European Union parliamentarian Lucia Ďuriš Nicholsonová shared incredibly disturbing messages she has received throughout her years in office, many including violent and profane language and graphic sexual threats.
“These words are real. The people who are writing these words are real,” Nicholsonová said. “We can erase them through algorithms online, but they will still exist. I think we really need to know what is out there because it's a real threat.”
Michelle Milford Morse of UN Foundation explained to the crowd gathered at the NYC event that these kinds of abuses have compounding impacts on victims. “More than half of young women are experiencing some form of abuse and harassment online, sometimes as young as eight,” she said. “I don't think that we're thinking enough about the accumulation of that over time and the real harm to their mental health.”
But technology, when used for good, is also a powerful tool that can help close the gender gap. Microsoft’s Vickie Robinson described the importance of connectivity and digital skills. Of the estimated 2.6 billion people worldwide who lack internet access, the majority are women and girls.
“It's critically important, now more than ever, we need to make sure that we close the digital divide once and for all, but that we bring along with that the skills, we make it affordable, we make it accessible,” Robinson said.
The conversation then turned to leadership, and the need for more women in positions of authority in all industries and sectors of public life.
“Parliaments and legislators that have more women, they prioritize social services for children and the most vulnerable. When they engage in peace agreements, those peace agreements last longer. They're more likely to protect biodiversity,” said Morse. “There is no argument for half our human family to be shut out of society.”
The program was part of the Global Stage series and produced by GZERO in partnership with Microsoft and the United Nations Foundation. The series features politicians, private sector leaders, and renowned experts in conversation about issues at the intersection of technology, geopolitics and society.
- Ian Explains: How will AI impact the workplace? ›
- Can A.I. Reduce Poverty and Inequality?: AI in 60 Seconds ›
- Want global equality? Get more people online ›
- What We’re Watching: Boosting access, gender equality, and trust in the digital economy ›
- Scared of rogue AI? Keep humans in the loop, says Microsoft's Natasha Crampton ›
Live premiere TODAY at 12 pm ET: Gender Equality in the Age of AI
WATCH OUR LIVE PREMIERE TODAY at 12 pm ET: In the age of generative AI, how can technology become a tool to create more opportunities for women and girls worldwide? What will it take to train more women to use AI to reach their economic potential, and ultimately greater equality? As AI innovation advances at a staggering pace, the widening equality gap threatens to erode progress. There is also a dark side — the alarming number of women who experience online violence.
In our next Global Stage discussion, presented by GZERO in partnership with Microsoft and the United Nations Foundation, our expert panel will discuss inclusive ways to make our digital lives safer and more productive. Today, Monday, March 18 at 12 pm ET, watch the live premiere of "Gender Equality in the Age of AI," taking place on the sidelines of UN Women’s 68th Commission on the Status of Women, a gathering of leaders from UN member states and NGOs focused on progress and equality.
Penny Abeywardena, Social Justice Advocate and Former NYC Commissioner for International Affairs, moderates the conversation with :
- Jac sm Kee, Co-Founder, Numun Fund
- Michelle Milford Morse, UN Foundation’s Vice President for Girls and Women Strategy
- Lucia Ďuriš Nicholsonová, Member of European Parliament, Slovakia
- Vickie Robinson, General Manager, Airband Initiative, Tech for Fundamental Rights, Microsoft
Monday, March 18, 2024 | 12 pm ET | 9 am PT
Watch at gzeromedia.com/globalstage
RSVP on LinkedIn Live, Facebook Live, or YouTube
More about Global Stage:
Global Stage: Global issues at the intersection of technology, politics, and societyyoutu.be