Pact for the Future: A New Era of Global Cooperation and Sustainable Development

“The challenges we face today demand more than experience alone, they call for fresh perspectives, innovation and the energy of youth.” 

- Mary Robinson, speaking at the Elders Intergenerational Dialogue. 

This Global Goals Week, we’ve been delving into the United Nations Sustainable Development Goals (SDGs) and THINKHOUSE’s role as one 20 Sustainability Champions for 2024/2025. For this edition of 52INSIGHTS, we’re building on these themes by exploring the recently adopted #PactForTheFuture, a landmark agreement designed to ‘turbo-charge implementation of the Sustainable Development Goals’, and a pact that has the potential to advance global action on the most pressing issues of our time.

WHAT IS THE PACT FOR THE FUTURE? 

“Times Square shows the epitome of consumerism and throw-away culture. In this same city, the UN is hosting the Summit of the Future. We need visions of alternatives to not get stuck in this version of the future.” - Xiye Bastida, a 22-year-old Mexican climate justice activist. 

On September 22, 2024, as part of the Summit For The Future, world leaders at the United Nations adopted the #PactForTheFuture, a comprehensive and intergovernmentally negotiated action plan. This pact is the culmination of an inclusive, years-long process aimed at adapting international cooperation to today's realities and tomorrow's challenges. It covers a broad range of themes including peace and security, sustainable development, climate change, digital cooperation, human rights, gender, youth, and future generations, as well as the transformation of global governance. 

The Summit and the Pact for the Future were enriched by contributions from millions worldwide. Over 4,000 participants, including Heads of State, IGOs, UN representatives, civil society, and NGOs, attended the Summit. Preceding the formal event, the Action Days on 20-21.

September engaged over 7,000 individuals from diverse sectors. These days saw strong commitments and pledges of USD 1.05 billion to advance digital inclusion.

KEY COMPONENTS OF THE PACT FOR THE FUTURE 

Beyond GDP: New Measures of Progress 

One of the most significant aspects of the pact is the agreement to develop a framework that goes beyond gross domestic product (GDP) as a measure of progress. This includes promoting the use of forward-looking, evidence-based impact assessments and developing stronger anticipatory risk analyses. This shift acknowledges that GDP alone is insufficient to capture human and planetary wellbeing and sustainability. 

Declaration on Future Generations 

The Declaration on Future Generations is a groundbreaking component that recognises the primary role and responsibility of governments to safeguard the needs and interests of future generations. It emphasises the need for a clean, healthy, and sustainable environment where humanity lives in harmony with nature, addressing climate change and environmental protection. 

Climate Change Action 

The Pact for the Future makes a strong commitment to addressing climate change, emphasising the need to keep global temperature rise to 1.5°C above pre-industrial levels. It calls for a transition away from fossil fuels to achieve net-zero emissions by 2050. The pact also prioritises delivering more finance to help countries adapt to climate change and invest in renewable energy, ensuring a sustainable and resilient future for all. 

Global Governance and Financial Architecture 

The pact includes detailed agreements on reforming the international financial architecture to better serve developing countries. This involves giving developing countries a greater say in decision-making at international financial institutions, mobilising more financing from multilateral development banks, and strengthening the global financial safety net to protect the poorest during economic shocks. 

Digital Cooperation 

The Global Digital Compact, annexed to the pact, is the first comprehensive global framework for digital cooperation and AI governance. It commits to connecting all people, schools, and hospitals to the internet, anchoring digital cooperation in human rights and international law, and governing Artificial Intelligence through an International Scientific Panel and a Global Policy Dialogue. 

Youth and Future Generations

The pact includes concrete steps to ensure more meaningful participation of young people in global decision-making processes. It also introduces the possibility of an envoy for future generations to represent their interests in international forums.

IMPLEMENTING THE PACT FOR THE FUTURE 

The adoption of the #PactForTheFuture marks a significant milestone in global cooperation. It sets out a clear vision for an international system that is more representative, effective, and committed to delivering on its promises. The pact's provisions for follow-up action ensure that the commitments made are implemented, with concrete actions required by 2030. 

As we move forward, it is crucial for everybody—governments, the private sector, and individuals—to work together to realise the pact's ambitious goals. This includes supporting the new frameworks for measuring progress, participating in digital cooperation, and advocating for the rights and interests of future generations. 

EMBRACE THE PACT FOR THE FUTURE! 

As businesses and brands, we have a critical role to play in supporting and implementing the #PactForTheFuture. Here are some key takeaways: 

Beyond GDP/Profit Metrics: Reflect on how your brand can adopt and promote measures of progress that go beyond profit margins and other financial metrics, aligning with the pact's focus on human and planetary wellbeing. 

Support Digital Cooperation: Engage with the Global Digital Compact by ensuring your digital practices and AI governance align with human rights and international law, and by contributing to the safe and inclusive use of technology. 

Champion Future Generations: Advocate for policies and practices that safeguard the interests of future generations, including environmental protection and meaningful youth participation.

By embracing these principles, we can collectively drive towards a more sustainable, just, and peaceful world.