The International Trade Union Confederation (ITUC), lead organisation of the Workers and Trade Unions Major Group, participated in the Expert Group Meeting (EGM) on SDG 8 in Preparation for the 2025 High Level political Forum (HLPF). The EGM focused on taking stock of progress towards SDG 8 (decent work and economic growth) and identifying innovative solutions to accelerate progress towards SDG 8 objectives of eradicating poverty, tackling inequality, and fostering inclusive growth. The meeting also discussed interlinkages between SDG 8 and other SDGs, including consideration of synergies and trade-offs with other goals and targets.
ITUC’s Equality Department Director Paola Simonetti intervened as a panellist in the session dedicated to “Financing SDG8, and access to finance” where speakers discussed progress in access to finance, as well as the broader issue of financing for SDG8 progress that can benefit all.
The ITUC highlighted that financing is key to putting all SDGs back on track. When it comes to SDG8 and its objective of achieving full employment, this requires investments that create millions of decent jobs. Public investments in the care economy in particular can create million of new jobs, while granting women economic participation and contributing to universal access to quality public health, education and care services.
Financing of SDGs also requires increased mobilization of domestic resources through progressive and fair taxation systems is the most sustainable way to enhance government budgets, enable more funding for quality public services and fight inequalities.
Over the past 30 years, the world’s GDP has quadrupled, but the labour share of GDP has been constantly decreasing. Millions of workers worldwide do not earn enough to live in dignity, while the number of millionaires continues to increase across the world.
This is why wage policies also need to be central: statutory minimum living wages, along with social dialogue and collective bargaining, are essential to fight poverty and address inequalities.
The EGM wasn’t the only meeting happening in February this year, because in addition to the HLPF, 2025 will also see the 4th Financing for Development Conference happen, as well as the 2nd World Summit for Social Development and as such 2025 is a crucial year to push governments for investment and to achieve the SDGs.
