Strengthening Science, Technology and Innovation for Achieving the SDGs: Drawing Lessons from the UN Technology Facilitation Mechanism and Innovative Financing Models - Side Event to the Multi-stakeholder Hearing for FfD4 | Department of Economic and Social Affairs

Background

The 2023 SDG Summit emphasized the importance of bridging science, technology, and innovation (STI) divides and leveraging STI as drivers of sustainable development. The Pact for the Future reaffirmed the potential for STI and digital cooperation to accelerate progress on the Sustainable Development Goals (SDGs) if these tools are affordable and accessible to all.

In response to these calls, and in preparation for the discussions at the Fourth International Financing for Development Conference (FfD4), this side event aims to explore lessons learned from efforts since 2015 to leverage STI for SDG implementation, and more specifically on the operationalization of the Technology Facilitation Mechanism (TFM). The TFM was established in the Addis Ababa Action Agenda (paragraph 123) at the Third International Conference on Financing for Development (FfD3) to support the SDGs and was then launched in paragraph 70 of the 2030 Agenda.

On October 29, 2024, DESA/DSDG and UNCTAD, alongside UNESCO, UNEP, ITU, FAO, WIPO, UN DCO, and the UN Joint SDG Fund, co-organized this side event on Strengthening Science, Technology, and Innovation (STI) for Achieving the SDGs at UNHQ, New York. The event convened diverse experts from the UN, government, academia, and private sector to address critical funding and policy gaps in STI. Discussions highlighted the potential of the UN Technology Facilitation Mechanism (TFM) in supporting global STI initiatives and explored innovative financing mechanisms to bridge these gaps, including blended finance models and collaborative public-private approaches. This side event was a timely contribution to the lead-up to FfD4 and sought to ensure that STI policies and funding models are well-aligned to accelerate SDG progress. Key outcomes included strategic recommendations for innovative financing models, enhancing STI policy integration, STI roadmaps and capacity building, and action plan of engagement in the run-up to the FfD4 Conference.