STORY: Sustainability anchor for development in 21st century, says UNGA president
SHOOTING TIME: April 5, 2024
DATELINE: April 8, 2024
LENGTH: 00:04:54
LOCATION: UN Headquarters
CATEGORY: POLITICS

SHOTLIST:
1. various of the interview with Xinhua at the UN headquarters
2. SOUNDBITE 1 (English): DENNIS FRANCIS, President of the 78th session of the UN General Assembly
3. various of the interview with Xinhua at the UN headquarters
4. SOUNDBITE 2 (English): DENNIS FRANCIS, President of the 78th session of the UN General Assembly
5. various of the interview

STORYLINE:

"Development in the 21st century will need to be anchored in sustainability," Dennis Francis, president of the 78th session of the UN General Assembly (UNGA), said on Friday.

During an exclusive interview with Xinhua at the UN headquarters in New York, Francis emphasized the stark contrast between the development models of the 20th and 21st centuries, stressing the urgent need to shift economic strategies and behaviors towards more sustainable patterns of production and consumption, both at the individual and national levels.

SOUNDBITE 1 (English): DENNIS FRANCIS, President of the 78th session of the UN General Assembly
"Our experience has demonstrated dramatically that the nature of development in the 20th century has, in fact, created enormous problems and challenges for society and civilization. And so we now find ourselves at a juncture where we need to address and redress those problems and challenges. And the way to do it is to transform our economic strategies and our behaviors, both as individuals and countries, to patterns of production and consumption that are more sustainable. So sustainability really is the anchor for development in the 21st century, and hence the emphasis on the Sustainable Development Goals (SDGs)."

Francis is set to host the inaugural Sustainability Week on April 15-19, themed "Paving the Way for a Sustainable Future." It will spotlight economic sectors like tourism, transport, infrastructure, and energy, and seeks to tackle pressing challenges such as debt sustainability and socio-economic equality to lay down a blueprint for subsequent initiatives.

During the interview with Xinhua, Francis highlighted global debt as a major obstacle to sustainable development, especially for developing nations. He warned that this crisis hampers progress and worsens dire circumstances for many countries. Francis lamented the dilemma faced by developing countries.

SOUNDBITE 2 (English): DENNIS FRANCIS, President of the 78th session of the UN General Assembly
"Global debt is a major issue, and it's a major issue because the level of debt that exists globally, particularly for developing countries, in fact constitutes a development crisis. A significant number of member states of the UN are in fact small states and states in vulnerable situations.
And so developing countries are faced with a choice. You either pay the debt and you have no money to finance development, or you finance the development and you default on your debt, which you can't do because then you create a crisis.
And so what the UN is seeking to do is to engage the international financial system to collaborate with us in identifying formulas that take a deep look at restructuring the way the debt system works, primarily by facilitating lower rates of interest for developing countries that qualify.
Lower rates of interest, longer amortization periods, in order to give developing countries an opportunity to pay the debt at lower rates, but also to have sufficient resources left over to finance development. And we believe that this is doable.
Payment of debt is important. It's crucial. But we must keep in mind that behind those numbers are the lives of people. And if the debt is repaid as a result of which people are worse off, that cannot constitute development. We are working to ensure that no one is left behind."

Regarding tourism, Francis recognized its substantial economic contributions and its role in promoting cross-cultural understanding and peace.

Highlighting tourism's vulnerability to external shocks like the pandemic, Francis advocated for a transformative approach aiming for a "quicker recovery, a less costly and a higher level of guarantee that the people employed in the sector will be able to maintain a reasonable standard of living."

Speaking of technology and innovation, Francis praised their benefits, saying, "Technology is all around us, and most of the time, it creates benefits and advantages for society."

However, Francis urged caution with Artificial Intelligence (AI), emphasizing the necessity for "guardrails" to prevent potential societal harm.

The purpose, he noted, isn't to minimize the contribution of AI but rather optimize its value while safeguarding society and individual privacy.

While AI is "inevitable for development," it must enhance rather than undermine society, he said.

"We need AI to contribute to better growth, better sustainability, better quality of life," and foster "peace, harmony, and stability in the world," said Francis.

On financing the SDGs, Francis stressed that it requires "a significant commitment of funding" to achieve the SDGs. In the meantime, he acknowledged "reforms come with a cost" and "there is no free lunch."

It necessitates a "multi-stakeholder approach" where governments must take ownership and not rely on a "cookie-cutter arrangement," said Francis.

Each government will shape their national policies uniquely but must "commit financially" to the goals, Francis added.

"The world is not short on resources," he said, asserting that collective efforts can indeed finance the ambitious goals set by the global community.

Xinhua News Agency correspondents reporting from UN Headquarters.
(XHTV)