“We can do better than this. Better than runaway climate change and pandemics. Better than a spate of unconstitutional transfers of power amid a rising, globalizing tide of populism. Better than cascading human rights violations.  We owe it to ourselves, to each other, to our children and their children.”

Ladies and gentlemen, esteemed colleagues, distinguished guests,

It is an honor to welcome you all to this important side event on Life Economies and the Future of Development: a trusted space to engage in a meaningful conversation on how to create a better present, while preserving the choices for future generations.

Creating a better present demand for us to go beyond incremental efforts to alleviate symptoms, and move toward addressing the root causes behind our shared global challenges: outdated economic paradigms that have prioritized financial performance at the expense of the well-being of people and our planet. 

This is what Life Economies is precisely about: a transformative framework that recouples economic growth with societal wellbeing and environmental health, inviting us to shift our focus from short-term profits to long-term sustainability as means to advance inclusive development, intergenerational equity, and ecological sustainability.  They present a holistic and integrated approach to development, representing a fundamental shift in our values and mindsets by placing the wellbeing of all people and the planet at the center of economic activity.  This process has already started organically: Doughnut Economics, Blue Economies, Regenerative Economics, are only examples.  But we are here to move from an organic evolution of economic paradigms to a deliberate and conscious effort towards Life Economies – as a principle, regardless of how we call it. 

Dear friends, as a woman I can’t omit referring to gender equality as absolutely central to this transformation. The full inclusion of women and girls in the economy is not just a matter of justice—it is essential to achieving sustainable development and the pursuit towards the common good. We make up half of the global population and – trust me – we are powerful agents of change and driving forces in building inclusive, sustainable and compassionate economies.  

Youth – in all their diversity - must be also recognized as critical drivers of the new economies. They hold the keys to sustainable development and know better than us what needs to be done. They are innovative, entrepreneurial, and deeply committed to addressing the world’s most pressing challenges. The voices of young people must not only be heard but fully integrated into decision-making processes at all levels. Youth leadership in Life Economies is essential for fostering creativity, adaptability, and bold solutions to complex global problems. As we shape this new economic landscape, we must invest in the education, skills, and opportunities that will allow young people to thrive as changemakers and leaders in their communities.

Intergenerational equity and multi-species justice should also be core pillars of this approach. The pursuit of welfare by the current generation, and by humanity as a whole, should not diminish the opportunities for a good and decent life for future generations. We must recognize that our decisions today have profound impacts not only on the people of tomorrow but also on the ecosystems that support all life on Earth. It is a moral imperative that we safeguard our natural resources and protect biodiversity, ensuring that our planet remains livable for generations to come. Our economic systems must reflect this, promoting fairness not only across human societies but also across generations and species.

We, at the United Nations Development Programme, are firmly committed to building a legacy or opportunity through development; thinking beyond borders, problems and generations, because development solutions, like the challenges they address, are complex and interconnected and cannot be considered in isolation or ignoring intergenerational equity. As UNDP we are already supporting efforts to build Life Economies by catalyzing innovation, sharing best practices, connecting actors, and fostering collaboration across over 170 countries and territories - bringing together governments, businesses, civil society, and individuals, from different generations and backgrounds-  to design and implement global solutions with local impact. 

Dear friends, it is almost poetic having the opportunity to be here, together, while the world’s heads of State gather engage into two critical events for the future of multilateralism, development and peace: the Summit of the Future and the United Nations General Assembly High-Level Week.  It is clear that as we look to the future, we need a fundamental shift in the way we think about growth and development. The rise of Life Economies offers hope—hope for a future where economic growth is inextricably linked with the wellbeing of people and the planet. And this hope extends beyond humanity to all living beings. 

Dear friends, as UNDP’s latest Human Development Report remind us: we have so much going on for us.  We know what the global challenges are and who will be most affected by them.  We know which choices offer better opportunities for peace, shared prosperity and sustainability, better ways to navigate interacting layers of uncertainty and interlinked planetary surprises.  We enjoy unprecedented wealth know-how and technology—unimaginable to our ancestors—that with more equitable distribution and use could power bold and necessary choices for peace and for sustainable, inclusive human development on which peace depends.  Life Economies offer us the possibility to translate the immense potential of our era into a legacy of opportunities and choices for future generations. 

Let us work together—across regions, sectors, and communities—to build the enabling conditions and adequate inclusive and effective governance systems that will allow Life Economies to flourish. Let us develop supportive policies, financial mechanisms, and reporting standards that ensure our economic activities are aligned with the future we dream of, contributing to the quality of life of all people. Let’s build a world of possibilities where economic growth serves the greater good—a world where Life Economies are not the exception but the rule.

I conclude these remarks with hope.  Hope about the future, hope in each other, hope in one’s own ability to change the course of history.  Perhaps, at the end of today’s session, this feeling of hope spreads to all of you, igniting collective action towards a shared purpose.

Thank you.