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  Why does it matter?

  Why does it matter?

  • Education is seen by many as a human right. Universal education drives quality of life and is one of the most important factors in ensuring equality of opportunities for individuals. Despite its fundamental role, 251 million children are not in school, with this out-of-school population only reducing by 1% in the last 10 years based on UNESCO’s Global Education Monitoring Report in 2024. 53% of children in low and middle-income countries cannot read and understand a simple text by the end of primary school according to the Ending Learning Poverty and Building Skills report produced by the World Bank in 2022. This number increases to as much as 80% in some low-income countries.

    Poverty is the main obstacle in universal access to education, and simultaneously education is integral to poverty reduction. The World Bank estimates that globally there is a 9% increase in hourly earnings for every extra year of schooling. The digital divide intensifies the inequities in terms of access to educational resources. The Organization of Economic Co-operation and Development (OECD) states in their report Digital Divide in Education that a lack of appropriate digital hardware and software and lack of stable, reliable access to the internet, creates challenges in addressing equity and inclusion in education. Reducing the digital divide is especially important to ensure children are prepared with the digital skills they need in this highly technological age. Otherwise, they may not be able to harness the tangible beneficial outcomes that come with these digital skills such as in work or health.

    It is important to create equal opportunities so all countries can have the necessary resources to advance sustainability research and implement mitigation methods particular to their own needs. Developed countries are at the forefront of efforts to combat climate change, an expected stance given they have more resources to do so. However, the countries with the fewest resources could bear the greatest burden in terms of loss of life and relative effect on investment and their economy due to climate change according to a report produced by the World Economic Forum. Therefore, these countries will need additional support in carrying out research and learning from their point of view to implement suitable policies and systems to build economies and infrastructure that are resilient to the effects of climate change.

• SDG 4 targets and their current progress

  SDG 4 targets and their current progress

  • SDG 4 aims to ensure inclusive and equitable quality education and lifelong learning opportunities for all by 2030. It comprises 10 targets to be achieved by 2030 which are summarized below:

    1. Ensure that all girls and boys complete free, equitable and quality primary and secondary education leading to relevant and effective learning outcomes. Success is measured by proportion of children and young people at the end of primary and at the end of lower secondary, achieving at least a minimum proficiency level in reading and mathematics by gender. Currently only 58% of students worldwide have achieved at least the minimum proficiency level in reading at the end of primary school in 2019. The rate of completion of upper secondary school while increasing from 53% to 59% between 2015 and 2023, has slowed compared to the previous eight-year period according to the UN statistics division.
       
       
    2. Ensure equal access for all women and men to affordable and quality technical, vocational and tertiary education, including university. Success is measured by participation rate of youth and adults in formal and non-formal education and training in the previous 12 months by gender. According to the 2025 SDGs report global literacy rates have improved over the past two decades, however 754 million adults remained illiterate in 2024, with women accounting for 63 per cent of the total. Disparities in terms of location, household wealth, gender inequality continue to create challenges, leading to higher dropout rates and fewer opportunities for those from disadvantaged backgrounds.
       
       
    3. Eliminate gender disparities in education and ensure equal access to all levels of education and vocational training for the vulnerable, including persons with disabilities, indigenous peoples and children in vulnerable situations. Success is measured by parity indices such as female/male, rural/urban, bottom/top wealth, disability etc.
       
       
    4. Ensure learners acquire the knowledge and skills needed to promote sustainable development and lifestyles, human rights, gender equality and appreciation of cultural diversity. This success is measured by the extent to which global citizenship education and education for sustainable development are mainstreamed in national education policies.
       
       
    5. Build and upgrade education facilities that are child, disability and gender sensitive and provide safe, non-violent, inclusive and effective learning environments for all. This success is measured by the proportion of schools offering basic services, by type of service. As of 2025, over a fifth of primary schools globally do not have access to basic services, such as electricity, drinking water and basic sanitation facilities.
       
       
    6. Substantially increase the supply of qualified teachers, including through international cooperation for teacher training in developing countries, especially least developed countries and small island developing states. Success is measured by the proportion of teachers with the minimum required qualifications, by education level.

    Low and lower-middle income countries face a US $100 billion financing gap to reach their education targets, according to the UNESCO Global Education Monitoring Report.
    

• Supporting initiatives

  Supporting initiatives

  • There is a strong need to support SDG 4 as pointed out in a survey carried out by the World Bank where low- and middle-income countries identified education as their top development priority. The World Bank published the brochure “Ending Learning Poverty and Building Skills” of its own vision to alleviate “learning poverty”. This is a concept coined by the World Bank which means children being unable to read and understand simple text by age 10. The organisation works with governments, providing technical assistance, loans and grants. It’s support to countries is underpinned by five interrelated pillars:

    • Learners are prepared and motivated to learn
    • Teachers at all levels are effective and valued
    • Classrooms are equipped for learning
    • Schools are safe and inclusive spaces
    • Education systems are well managed

    The World Bank education portfolio currently supports projects in 85 countries across the world amounting to US $26.6 billion in funding. They also work with various partners such as:

    • UNESCO Institute for Statistics to help countries strengthen their learning assessment systems and improve the breadth and quality of global data on education among other things.
      
      
    • UK Government Foreign, Commonwealth & Development Office and the Gates Foundation to increase just in time support on educational technology to governments.
      
      
    • UNICEF, UNESCO and Global Partnership for Education to support teachers and ensure continuous and accelerated learning in response to pandemics.
      
      
    • UNICEF to leverage digital technologies as an accelerator and equalizer for learning.

    The UN estimates that without additional measures 84 million children and youth will be out of school by 2030.

    To support lifelong learning the World Bank has launched two trust funds, The Foundational Learning Compact (FLC) and Tertiary Education and Skills (TSE). These were created to streamline partner investments that support operations and amplify impact.

    
    

• Importance for actuarial practice

  Importance for actuarial practice

  • Better quality education goes hand in hand with poverty reduction, so meeting SDG 4 targets could mean people are better able to afford insurance products. If opportunities are provided for people to obtain quality education to increase their ability to earn and lift their families out of poverty, they will be better able to afford insurance products, providing their family stability.

    Survey results from the Money and Pensions Service (MaPS), found that children’s attitudes towards money are often established by the age of seven. This shows the critical importance of ensuring high-quality financial education from an early age to support long-term financial wellbeing.

    Better quality education also leads people to better understand the value of pension products, which can improve their standard of living at older ages and reduce the likelihood of generational poverty through reduced dependency on younger generations.

    A report by the OECD, emphasises how low levels of financial literacy, leads to individuals not saving wisely and not being able to understand insurance protection terms fully. Quality education is not only key in improving financial resilience but also key in empowering individuals to improve their financial technical skillsets and embark on careers within finance, including the actuarial profession.

    The changing technological landscape brings with it new skills actuaries should continue to develop according to the IFoA. This calls for actuaries to evolve beyond traditional roles, which will require opportunities for upskilling and lifelong learning. Even within traditional roles, skills in data science, AI and advanced analytics will be needed to allow the actuary to focus more on analysis and decision-making. The expanding role of the actuary can be seen in the work needed to tackle climate change. Ensuring SDG 4 targets are met will encourage further research needed to understand the impacts of climate change, allowing for actuaries to contribute more to policy, investing in strategies and decision-making for businesses and governments to prepare and adapt to climate risks materialising.

    The actuarial profession is expected to continue growing given the increasing demand for actuaries worldwide, which will require similar educational opportunities for qualification to be provided in different countries around the world to meet these demands. Fulfilling these needs will make for robust insurance and finance sectors which can improve a country’s external relations and economic growth.

    Lifelong learning opportunities are also needed to advance the actuarial practice, to ensure that the profession keeps up to date with changing trends and that it remains relevant, as society and ways of doing business, evolve.

• Relationships to other goals

  Relationships to other goals

  • Ensuring greater progress in reaching the targets for SDG 4 will enable the achievement of most other SDGs including:

    • Goal 1: No Poverty
      
      
    • Goal 8: Decent work and economic growth
      
      
    • Goal 10: Reduced Inequalities
      
      
    • Goal 12: Ensure sustainable consumption and production pattern

• Other

  Other

  • For further learning and resources on SDG 4, please consult the following:

    To know more about SDG 4 by UN - UN Sustainable Development Goal 4

    To know more about the work being carried out by the World Bank - Ending Learning Poverty and Building Skills: Investing in Education from Early Childhood to Lifelong Learning

    Some helpful videos and courses - SDG4 Quality Education - SDG Academy Library

    Statistics and progress related articles - Sustainable Development Goal 4 - UNESCO UIS