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032 GLOBAL VOICESfrom this conviction that the environment is the foundation for development. To that end, UNEP maintains partnerships throughout the private sector, governments and, of course, our sister agencies.Finance is a prime example. UN estimates show that to achieve the SDGs would require annual investment of US$5-7 trillion. With respect to climate change alone, the estimated adaptation costs in developing countries range between US$70 billion and US$100 billion a year globally by 2050, though true costs could well be two or three times higher. There is no public fund in the world that could close this gap, so we must rely on accessing the hundreds of trillions of dollars in the finance sector, using public funds as a catalyst.Harnessing the power of the financial system to support sustainable development has been the primary area of work for UNEP’s Inquiry into the Design of a Sustainable Financial System project. Through the Inquiry, UNEP has pointed to best practices across the world that financial policymakers are beginning to incorporate into their decision making. Now, from China to the UK, we are now seeing sustainability threaded directly into the fabric of the financial system.It is not simply a matter of more funding, however. We are very wasteful. We have tripled our water withdrawals over the past 50 years, and if current trends continue, half the world could be subject to water stress by 2025. More than 1/3 of the food produced today is not eaten while 900 million go hungry.Our economy, as part of the sustainable development process, must become more equitable, efficient and less carbon-emitting – an inclusive green economy. The benefits are clear. Beyond the potential to reduce hunger, a switch to a circular, reduce-reuse-recycle economy could create 9-25 million jobs worldwide. Tackling air pollution could reduce its staggering economic costs, estimated at US$1.6 trillion per year in 50 countries of the WHO Europe region and at US$131 billion per year in the US. The UNEP-backed Partnership for Action on Green Economy (PAGE) works to shift national economic structures in over 22 countries toward better efficiency.In sectors such as transport, we have already witnessed great success. When the public-private Partnership for Clean Fuels and Vehicles was set up about 10 years ago under the auspices of UNEP, close to 100 countries were still using leaded gasoline. More than 80 countries have since phased out lead in gasoline, preventing adverse health effects “ OUR ECONOMY, AS PART OF THE SUSTAINABLE DEVELOPMENT PROCESS, MUST BECOME MORE EQUITABLE, EFFICIENT AND L ESS CARBON-EMITTING ”Photo Credit: UN Photo/Rick Bajornas Pictured: Paris, France, was the host city of COP21