Abu Dhabi-based Global Mission sets up a $17bn fund to attain SDGs

By Rahul Vaimal, Associate Editor
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Abu Dhabi-based non-profit, Global Mission has collaborated with its international partners to set up a $17 billion fund to help achieve the United Nations’ 17 Sustainable Development Goals (SDGs) across the globe.

“This ‘Global Fund for Sustainable Development’ is the most ambitious SDG-fund worldwide. Based in Abu Dhabi Global Market (ADGM), the fund targets to raise $17 billion, and $1 billion each will be allocated for each SDG,” said Mr. Mohamad Elsamad, the executive director of Operation and Administration at Global Mission.

According to Mr. Elsamad, the Global Mission, chaired by Mr. Khalid Al Mutawa, has been working hard with international stakeholders like the UN, governments, non-governmental organizations, and other parties ever since it was founded in 2017 at Masdar City in Abu Dhabi.

“After overcoming certain hurdles such as the global pandemic, on September 25, the birthdate of SDGs that is called ‘action day’, we were able to constitute a committee to oversee this ambitious fund,” Mr. Elsamad shared.

The committee, chaired by Mr. Elsamad, comprises representatives of many global stakeholders that work towards achieving the SDGs.

The 17 SDGs are an urgent call for action by all countries in a global partnership, as part of the 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015.

Although only eight years are left to achieve the SDGs by 2030, there was not much progress so far, Mr. Elsamad pointed out, further adding that, “Actually, it was the other way around. We have experienced more environmental deterioration, more hunger and more climate change in the past few years. But we are very much hopeful that we can still make the change. Anything can be done if you create the right mindset with the right people.”

The Global Mission official revealed that the committee of the Global Fund for Sustainable Development has identified around 100 projects to start working with during the first 12 months.

“The projects will be implemented in cooperation with governments and private sector. It will be a PPP [public-private partnership] platform,” Mr. Elsamad updated.

There are a lot of leaders, corporations, managers and individuals who want to create a difference, but they are not sure how to take that initiative, the executive remarked, adding that, “So, if you create the right platform and you can create the impact quicker, it is easier for all other enthusiasts to join there.”

Mr. Elsamad pointed out that the projects will be profitable for the investors because sustainability means financial sustainability as well.

“So, we’re going to work hand in hand with the corporations. But, for us, the main target is going to be really the impact under the SDGs,” Mr. Elsamad noted.

The Global Mission official clarified that the projects will not be limited to any particular country, region or a continent.

“We want to work for the whole planet. We need to create the right environment for the investors and for the companies to achieve the right goals to make an impact under the SDGs,” Mr. Elsamad emphasized.

Asked about the top priorities among the SDGs, Mr. Elsamad said that health will be one of the primary targets.

“Then we are going to have a few projects in environment with a focus on carbon emissions, plastic pollution, clean water etc,” the official remarked.

Elaborating on the projects in the health sector, Mr. Elsamad said there is a huge shortage of manpower and medicines, which have to tackled.

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