Monopolies pose dangers, and the one held by the world’s three top credit-rating agencies (Standard & Poor’s, Moody’s, Fitch) is no exception. These heavyweights are influential enough to cause financial crises—and may have in the past, due to problems such as conflicts of interest. The only solution is a radical reform of this oligopoly.
A key global initiative that currently unites much of the world is the 2030 Agenda for Sustainable Development. Launched by the United Nations back in 2015, Agenda 2030 is an action plan for “people, the planet and prosperity”, which countries and stakeholders, acting in collaborative partnership, have pledged to implement.