Page 50 - ICD AR21 EN

48 ICD ANNUAL REPORT 2021
DRIVING SDG PROGRESSTHROUGH DIGITAL FINANCIAL INCLUSION
For post-pandemic recovery and to build resilience
in facing future challenges, it is important to understand the impact of the COVID-19 pandemic on the attainment of SDGs. This is because not only can the SDGs framework serve as a useful tool if properly incorporated in post-pandemic actions and recovery plans, but also because it can be a good opportunity to synergize the multiple agendas for a sustainable future.
While it is hard to quantify, the COVID-19 pandemic
is likely to have a severe negative impact on the achievement of the SDGs. Not only does it risk hampering or reversing the gains achieved in several areas, it may also exacerbate already high levels of inequality within and between countries. What we saw in the period before the pandemic was that, despite the progress made, action to deliver on the SDGs was not advancing at the speed required. According to the High-Level Political Forum (HLPF) in 2020, even before the pandemic, the SDGs were not on track to be reached by 2030.
In addition, the unusual circumstances created
by the COVID-19 pandemic have intensified the interdependencies between the SDGs. For example, the intersection between health and sustainability challenges was made clearer by the pandemic. The slow implementation of the most pandemic-affected SDGs can influence the achievement of other SDGs, in the short or long-term, creating a new pattern of interconnectedness between them.
One major positive impact of COVID-19 is its role in accelerating digital transformation in the financial
One major positive
impact of COVID-19 is its role in accelerating digital transformation in the financial industry.