Only one in three 10-year-olds worldwide can understand a simple paragraph or story in their own language. It’s a shocking figure to many, who assume the world has moved beyond problems of literacy and completion rates in schooling.

But in reality, childhood illiteracy (or ‘learning poverty’) is as high as 92 percent in low-income countries. And while it’s lower—as low as 8 percent—in high-income countries, the overall rate of learning poverty among young people is a staggering 64 percent globally. What’s more, education is grossly underfunded across the globe. High-income countries account for just 10 percent of the children in the world, but get 63 percent of global public investment. Low-income countries have 25 percent of the children in the world, but receive only a fraction of 1 percent of global public investment in education.

Currently, the majority of the kids in the world do not have access to high-quality education. They will never develop their potential to contribute to sustainability, equity, good governance and the economy—the four dimensions of sustainable development. This is an alarming state of affairs. But there are relatively simple ways to address the problem.

Walk the talk

The United Nations’ Sustainable Development Goals (SDGs) specifically focus on quality education (goal 4). Within that goal, specific targets aim to go beyond literacy, as well as science, technology, engineering, and mathematics (STEM) to embed green education, global citizenship and skills of the future into education at all levels.

Almost all UN member states have agreed to try to achieve the SDGs by 2030. That means the vast majority of world governments have theoretically pledged to work towards educational excellence for all—with the deadline looming just six years from now. But while we dream of achieving these targets, in reality we’re still struggling with getting kids to read, write and understand maths and science. Even in high income countries that tend to be strong in literacy and STEM, their non-STEM skills and environmental education are still very weak.

We are starting from a low base with regard to sustainable development education. The world needs a surge in investment, innovation and capacity to ensure that every child, even in the poorest countries, is given the opportunity for a decent education that, in turn, promotes peace and a sustainable future for all.

Last September, all UN member states committed to “continue increasing investment in inclusive and equitable quality education and life-long learning opportunities for all” at the Political Declaration from the Mid-Point Review of the SDGs, co-facilitated by the Irish and Qatari Governments.

International cooperation and collective action are needed more than ever. But our existing systems of cooperative, cross-border (“multilateral”) engagement were not designed for the complex, interconnected and rapidly changing world in which we live. It is time for the UN to revitalise multilateralism for a sustainable future.

To support this vision, the UN Summit of the Future, which is taking place in New York this week, will consider a Pact of the Future that includes a chapter on Youth and Future Generations, alongside four other chapters. That chapter on Youth and Future Generations outlines key themes of intergenerational responsibility, fulfilling present demands while safeguarding the interests of future generations and investment in a global transformation of education.

This Pact also pledges: “We will invest in the social and economic development of children and young people so they can reach their full potential.” This statement puts governments under pressure to provide sustainable development and global citizenship education to preschool, K-12, higher education, professional development and vocational training.

SDG4 can be the great enabler of all the SDG transformations to achieve peace and sustainable development. In financial terms, education is also the low-hanging fruit. Universal access to education is the one goal that’s probably the cheapest to achieve and relatively easier to do, but somehow it falls down the agenda. It doesn’t get funded.

What’s stopping investment?

First, many countries do not mandate that everyone goes to school. In a low-income country living off rain-fed farming, the decision can be to go to school or contribute to household food security. In high-income countries, households want STEM skills to secure jobs. Children are not trained in the skills of the future: the ability to work in teams, adapt to new technology and have empathy for other people and nature.

What’s more, governments need capital for long-term investments in education. But governments can work in five-year political cycles, while investing in education is perhaps a 20-year plan. So, it is difficult for them to commit to investing in education, even though it’s the most important investment a government can make.

Many countries in the northern hemisphere have access to bond markets and can borrow over 30-year cycles at very cheap interest rates to invest in building schools, training facilities and developing new curricula. But many countries cannot access these bond markets. Instead, they may rely on loans from intergovernmental banks, where debt repayments are high over shorter terms. Allowing access to bond markets and cheap financing over long periods would fundamentally change the face of education financing for the better.

Domestic taxes cannot always be relied on to fund investment in education. Middle-to low-income countries have small tax bases. Governments need to build roads and ensure food and energy security and they just don’t have much money left over for education. Nevertheless, many countries could do more, even those with low tax bases.

UNESCO recommends states increase expenditure on education to about 20 percent or commit 4 to 6 percent of GDP to education. Poor countries will still have a gap that could be filled by richer countries out of moral duty and self-interest to secure a safe planet for future generations. Currently, the world is not even close to ensuring funding of full participation with good learning outcomes through K-12 into university and beyond.

A global investment fund in education can put the world on a pathway that generates more economic activity, equity and sustainability for all.

-360info