Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

Progress towards achieving SDG8 has been challenging and the world is far from reaching most of the targets. The lingering effects of COVID-19, cost-of-living crises, trade tensions, uncertain monetary policy paths, rising debts in developing countries, and the war in Ukraine can each significantly set back global economic growth. Combined, these crises are placing the global economy under a serious threat. Global real GDP per capita is forecast to slow down in 2023, putting at risk not just employment and income but also advances inequitable pay for women and decent work for young people.

With governments today seeking effective ways to lead their nations out of these related crises whilst also taking into account these planetary boundaries, green economy (in its various forms) has been proposed as a means for catalysing renewed national policy development and international cooperation and support for sustainable development. The concept has received significant international attention over the past few years as a tool to address the 2008 financial crisis as well as one of two themes for the 2012 UN Conference on Sustainable Development (Rio+20). This has resulted in a rapidly expanding literature including new publications on green economy from a variety of influential international organisations, national governments, think tanks, experts, non-government organisations and others.

In parallel, tourism is one of the world's fastest-growing industries and an important source of foreign exchange and employment, while being closely linked to the social, economic, and environmental well-being of many countries, especially developing countries. Maritime or ocean-related tourism, as well as coastal tourism, are for example vital sectors of the economy in small island developing States (SIDS) and coastal least developed countries (LDCs). The World Tourism Organization defines sustainable tourism as “tourism that takes full account of its current and future economic, social and environmental impacts, addressing the needs of visitors, the industry, the environment and host communities".

Finally, this goal entails decent work, employment creation, social protection, rights at work and social dialogue to be represented as part of integral elements of the new 2030 Agenda for Sustainable Development. Furthermore, crucial aspects of decent work are broadly rooted in the targets of many of the other 16 goals.

Achieving SDG8 will require a wholesale reform of our morally bankrupt financial system in order to tackle rising debts, economic uncertainties, and trade tensions, while promoting equitable pay and decent work for young people.

Sources: https://sdgs.un.org/goals/goal8 https://sdgs.un.org/topics/green-economy https://sdgs.un.org/topics/sustainable-tourism https://sdgs.un.org/topics/employment-decent-work-all-and-social-protection