SDG #10 - REDUCED INEQUALITIES
Despite significant strides toward lifting people out of poverty, inequality persists. While income inequality has declined in many of the countries that have experienced sustained economic growth, it has increased in countries with negative growth.
Economic growth cannot reduce poverty unless it is inclusive and involves economic, social and environmental dimensions. To reduce inequality, policies need to be made that are universal, recognizing and actively breaking down barriers for disadvantaged and marginalized populations, such as rural-residing people, ethnic minorities, women, people with disabilities and indigenous people. Favoring exports equitably from developing countries and innovations in technology can also help reduce the cost of transferring money for migrant workers, who are usually sending much of their income to families back home.
Equality Between Developed & Developing Countries
Sustained economic growth has helped some countries: from 2008 to 2013, the per capita income or consumption of the poorest 40 per cent of the population improved more rapidly than the national average in 49 of 83 countries (accounting for three quarters of the world’s population) with data.
Remittances can be a lifeline for families and communities of international migrant workers in their countries of origin. Despite technological advancements spurring lower costs for transactions, the high cost of transferring money back home and the inaccessibility of these many of these technologies continues to reduce such benefits.
Reforms At The IMF & World Bank
Developing countries need their voices strengthened in international economic and financial decision-making forums. While voting rights of developing countries have increased in some international organizations, but still fall far below their membership share.
The International Monetary Fund, through its recent quota reform, has increased the share of developing countries’ vote (defined as countries in developing regions, according to the M49 classification) to 37 per cent in 2016, up from 33 per cent in 2010. That increase is still short of the 74 per cent they represent in the membership. TheWorld Bank reforms of 2010 are still being implemented, and this effort has not changed the 38 per cent share of voting rights at the International Bank for Reconstruction and Development that developing countries have held since 2000.
Duty-Free Treatments & Exports
Tariffs disproportionately affect those of lower incomes, and duty-free treatment and favorable access conditions for exports from least developed and developing countries have expanded. From 2005 to 2015, the proportion of tariff lines globally with duty-free treatment for products that originate in developing countries increased from 41 per cent to 50 per cent; for products that originate in the least developed countries, the proportion rose from 49 per cent to 65 per cent.
Least Developed Countries & Small Island States
The least developed countries and small island developing States continue to require additional assistance to ensure that they share in the benefits of sustainable development. In 2015, total resource flows to the least developed countries and small island developing States amounted to $48 billion and $6 billion, respectively. Eight donor countries met the target of 0.15 per cent of gross national income (GNI) for ODA to the least developed countries.
SDG MEDIA ZONE
How To Reduce Inequality
Goal 10 focuses on reducing inequality within and among countries. Programme Specialist Shannon O’Shea from the UN Children’s Fund (UNICEF) explains what type of inequality the goal focuses on and what countries, organizations and individuals can do to reduce inequalities in their societies.
Indigenous Viewpoints On The SDGs
How do the SDGs affect indigenous peoples? Indigenous representatives discuss why the Global Goals matter. Many Indigenous peoples still face challenges in access to services, education, healthcare and more. Their message: No one will be left behind and nothing is to be done about us without us.
Closing Gaps And Barriers
Information and communication technologies accelerate progress towards each SDG. Digital technologies bring people together, closing the accessibility and skills gaps that traditionally form barriers to work, education, healthcare and more.
BUSINESS RESOURCES FOR SDG #10
Since the private sector fuels economic growth and has the potential to create jobs and boost economic activity through the value chain, businesses have a responsibility to fight inequality. Companies must not perpetuate biases and discrimination, or act in ways that strengthen the system of inequality.
Businesses can adopt and implement human and worker rights policies, and oversee employment in their supply chains to eliminate suspicious recruitment practices that may place migrant workers at risk of exploitation such as forced labor and human trafficking. The private sector needs to engage the entire system in which it inhabits, addressing both its own direct impacts and also the impacts down the supply chain.
The private sector can leverage its position in society to engage government in a transparent way, supporting public policy dialogue and other activities that may have a significant impact on human rights.
GRI, UNGC Release 'Practical Guide' for Companies to Report Their Impact on the SDGs
KPMG: How to Report on the SDGs & Global Goals
Project Breakthrough: Growing The Businesses of Tomorrow
AWARD QUESTIONS FOR SDG #10
1) Media Package
- Program Photographs & Illustrations (Max. 10 Images)
- Detailed Project Description (Max. 500 Words)
- Optional: URL/Link to Supporting Video
2) Financial & Strategic
In order to determine financial performance & potential for scalability, please answer the following questions:
- Please describe how the SDG business initiative is linked to your company’s core competency/competencies.
- Please provide an overview of the business case associated with your SDG business initiative.
- Please provide evidence of planned program expansion over the coming quarters and/or fiscal years.
3) Magnetism & Inspiration
How has your business initiative been a source of magnetism and inspiration? Please provide examples of your company’s influence on each of the following:
- Industry Impact
- Corporate Culture
- Key Stakeholder Groups
4) SDG Impact Metrics
Please describe how has your company has:
- Achieved sustained income growth for the bottom 40% of the population at a rate higher than the national average for target population. Please provide: net increase in annual family income in $ USD, income per capita $ USD, and total # of individuals directly affected.
- Improved access to services, markets, and economic opportunities for vulnerable or marginalized groups in your company, supply chain, and/or via your customer base (by % of target individuals, and total # of individuals) (i.e. – ethnicity, sexuality, race, color, creed, caste, language, mental or physical disability).
- Increased the number of leadership positions for vulnerable or marginalized groups (by % of target individuals within system definition, and total # of individuals) (i.e. – ethnicity, sexuality, race, color, creed, caste, language, mental or physical disability).
- Other KPI (please insert and describe).
OPTIONAL: Please provide a description/overview of 3rd party assurances relating to the verification of the metrics and figures provided above.