While Article I of the Outer Space Treaty ratified by most states affirms the principle that the exploration and use of outer space shall be carried out for the benefit and in the interests of all countries and shall be the province of all mankind, no mechanisms have been advanced to link what benefits all countries with the actions of a state or business.
ACES Worldwide, is a space policy advocacy organization that is now advocating for the creation and registration of space compacts where states, regions, international organizations, NGOs and private business can sign the compact that declares a commitment to a roadmap for their outer space activities to advance the SDGs and benefit the common good. I am familiar with the Compact through participation in an initiative in sub-Saharan Africa. UN Energy has created the Energy Compact which is an agreement between an actor in the economy and the UN to work for the organization to achieve organization specific milestones for the achievement of SDG7 - universal access to sustainable, reliable and affordable energy by 2030. The idea of architecting the financial system to work proactively for the common good is what is needed but mechanisms need to be created to encourage commitment to the common good by actors in the economy.
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