UN SDG 10: Reduced inequalities
Too much of the world’s wealth is held by a very small group of people. This often leads to financial and social discrimination. In order for nations to flourish, equality and prosperity must be available to everyone – regardless of gender, race, religious beliefs or economic status. When every individual is self sufficient, the entire world prospers.
Source: https://www.globalgoals.org/10-reduced-inequalities
Oxfam’s Inequality Report for 2021 found that the rich are growing richer while the poor are growing poorer, and how. They reported that during the lockdown, Mukesh Ambani was making Rs 90 crore per hour when around 24% of people were earning less than Rs 3,000 per month. Elon Musk hit a new milestone in 2021 when his wealth jumped by $25 billion in one day after Tesla’s shares surged. Mackenzie Scott, formerly married to Amazon founder Jeff Bezos gave away nearly $4 billion in 2020. Her wealth in the form of her Amazon shares continued to grow in that time. In a Medium post detailing her donations, she mentioned that during the pandemic, “Economic losses and health outcomes alike have been worse for women, for people of colour and for people living in poverty. Meanwhile, it has substantially increased the wealth of billionaires”.
UN SDG Goal 10 focuses on reducing inequalities within and among countries. The targets under this Goal include reducing income inequalities, improving regulation of global financial markets, development assistance and investment in least developed countries and more.
Inequality comes in many forms – caste, class, race, religion and other forms of social division perpetuate inequality in its different forms in society. Inequality can affect a person’s life from birth to death, and it ends up in a self-perpetuating cycle that becomes impossible to break. The poor fare worse on indicators like infant mortality, life expectancy, access to healthcare, gender equality, clean water and more. The world looks very different for those with privilege and those without.
National and international governments are concerned about inequality as they can see how the constant lack of opportunity or means to build a better life increase strife and violence in society.
NGOs increase access to finances or opportunities for work or study to those who don’t have them. Human Capital for Third Sector’s program Katalyst helps women from low-income communities pursue a professional education. Their four year program includes mentoring, financial support, industry exposure and corporate interactions. Katalyst’s alumni have graduated from university and now occupy senior positions in multinational corporations and Indian companies. The batch of 2019 graduates earned an average salary of Rs 6 lakh per annum as against an average annual family income of Rs 1 lakh per annum. With the right support at the right time, we can change outcomes for the better. Let’s make Goal 10 a reality.
PS: You can read our blogs on the other UN Sustainable Development Goals here.
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