Speech by Commissioner Urpilainen at the “Progress Towards SDG4: Stocktake of Transformative Actions in Education” event's Financing Education session

SDG4 Financing Education session

Dear Friends,

In a constantly changing world, education is the most significant investment we can make for sustainable development.

Yet, despite its recognised importance, education across the globe faces a chronic challenge – underfunding.

Going forward, we need to co-create a new investment case for education that incorporates the rising demand for new competences and skills.

How? I would like to make three points building on the discussion this morning.

First, we must build the financial case for investing in education.

Education is a human right. But investing in education is not just about social imperatives.

It is about investing in a green and digital future. Investing for a just and sustainable world.

This will require skills that traditional education systems often fail to address adequately.

The future we seek will be led by today's young people – the largest generation of youth in history.

Ensuring that they can succeed and contribute to changing economies makes fiscal sense.

We must keep this idea front and centre – not just at the Global Education Meeting, where education financing will figure prominently…

But also at other multilateral fora, such as the G7, G20, the Fourth Financing for Development Conference, and the upcoming UN Summits.

Second, to keep this issue at the top of the political agenda, I propose forging a coalition of like-minded finance ministers – champions of education, who can inspire the international agenda.

This coalition would bring together the expertise and experiences of ministers from around the world – those who have managed to maintain or even increase education spending against all odds.

Their success stories and strategies can inspire and guide others, creating a ripple effect that can transform the landscape of education financing.

This would serve as a driving force to keep education at the forefront of the global agenda.

And pave the way for meaningful dialogue and collaboration ahead of the Fourth Financing for Development Conference.

Finally, the investment case must be built on concrete results and evidence.

To deliver more and better investment in education, we must demonstrate the return on investment. We must understand what's working, what's not, and how we can improve.

Unfortunately, monitoring, analysing and using data related to learning outcomes remains a challenge for many countries.

Through effective collaboration, I believe we can fill this gap.

Dear Friends,

Each of the 17 Sustainable Development Goals demand action.

But arguably none of them can be achieved without investing in education and in teachers.

Whether it's breaking the cycle of poverty, promoting gender equality, or fostering peace and resilient societies, education is the foundational investment that can achieve change.

Its benefits reach far beyond the classroom.

We all want 2024 to be a turning point in the quest to achieve inclusive, quality education for all.

With the right narrative and investment, we can make it happen.