Baku: According to United Nations reports, only about 17% of the Sustainable Development Goals (SDGs) are currently being implemented on schedule, Huseyn Huseynov, Advisor to the Minister of Economy, said during the session titled '8th SDG Dialogue: Innovative Financing for Sustainable Development - Beyond Aid and Traditional Official Development Assistance (ODA)' held as part of the Islamic Development Bank (IsDB) Annual Meetings in Baku, APA-Economics reports.

According to Azeri-Press news agency, the remaining 83% of indicators are either progressing too slowly, have stalled, or are in decline, which is causing serious concern globally.

Huseynov stated that global development challenges are becoming more severe. Both the frequency and economic impact of climate-related disasters are increasing, and the loss of biodiversity is also a major concern, with approximately 10-12% of species worldwide under threat.

He further noted that as the 2030 Agenda approaches, the international community is facing a growing gap between ambition and actual implementation, which is placing additional pressure on the development process.

Huseynov emphasized that challenges such as climate change, biodiversity loss, food and water security, the costs of the energy transition, and social inequality are complicating the implementation of the SDGs. Under the current circumstances, he highlighted the importance of strengthening international cooperation and applying innovative financing mechanisms to achieve the Sustainable Development Goals.