{"id":16408,"date":"2016-04-18T19:20:56","date_gmt":"2016-04-18T19:20:56","guid":{"rendered":"https:\/\/www.un.org\/sustainabledevelopment\/?p=16408"},"modified":"2018-04-22T12:00:45","modified_gmt":"2018-04-22T16:00:45","slug":"un-urges-tangible-actions-to-finance-sustainable-development","status":"publish","type":"post","link":"https:\/\/www.un.org\/sustainabledevelopment\/blog\/2016\/04\/un-urges-tangible-actions-to-finance-sustainable-development\/","title":{"rendered":"UN urges \u2018tangible actions\u2019 to finance sustainable development"},"content":{"rendered":"

Hailing 2015 as a year of \u201ccrucial milestones\u201d for development, United Nations Secretary-General Ban Ki-moon today said world leaders must now meet the agreed financing targets to ensure implementation of the numerous landmark agreements on eradicating poverty, building resilient societies and addressing climate change in order to put the world on a sustainable development path.<\/p>\n

Opening the inaugural session of the UN Economic and Social Council (ECOSOC) Forum on Financing for Development Follow-up at UN Headquarters in New York, Mr. Ban said that the Addis Ababa Action Agenda, together with the 2030 Agenda for Sustainable Development and the Paris Agreement on climate change, are \u201ctriumphs of multilateralism.\u201d<\/p>\n

\u201cI urge each and every one of you to take action and show leadership,\u201d Mr. Ban said. \u201cWe must all play our part in this global endeavour, from governments and international organizations, to financial and trade institutions, the private sector and civil society.\u201d<\/p>\n

The Forum runs through Wednesday and will include the Special high-level meeting of the Council with the Bretton Woods institutions, the World Trade Organization (WTO) and the UN Conference on Trade and Development (UNCTAD). Today\u2019s inaugural session will feature presentations by the heads of the major institutional stakeholders and of intergovernmental bodies of these institutions, followed by statements by Ministers and other high-level officials. In the afternoon, there will be an interactive dialogue between UN delegations and senior officials from World Bank and International Monetary Fund (IMF).<\/p>\n

The Secretary-General recalled that this past July, world leaders gathered in Addis Ababa and adopted a comprehensive framework to mobilize and deliver the resources, technology and partnerships needed for sustainable development. He added that he looked forward to the signing ceremony for the Paris Agreement in New York later this week.<\/p>\n

\u201cWe have the collective responsibility to turn these landmark agreements into tangible actions,\u201d Mr. Ban said. \u201cThe time for implementation is now.\u201d<\/p>\n

Noting that the financing requirements to achieve the Sustainable Development Goals are estimated to be in the order of trillions of dollars annually, Mr. Ban stressed that mobilizing such resources will be a significant challenge, particularly at a time of continued economic uncertainty and financial constraints.<\/p>\n

\u201cThe global economic recovery remains uneven. We have not seen the strong, sustained and balanced growth needed to realize sustainable development for all,\u201d the UN chief said.<\/p>\n

\u201cYet this challenge is not unsurmountable. We know that global public and private savings and investment will be sufficient \u2013 but only if they are aligned with sustainable development,\u201d he added.<\/p>\n

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Addis Ababa Action Agenda as a \u2018starting point\u2019<\/strong>
\nFollowing up on the Addis Agenda is the \u201cright starting point,\u201d Mr. Ban emphasized, as it provides a full range of actions to realign financial flows and policies with economic, social and environmental priorities.<\/p>\n

The Addis Agenda contains more than 100 concrete policy commitments that draw on all sources of finance, technology, innovation, trade, debt and data to support the 2030 Agenda, Mr. Ban said.<\/p>\n

The global response to the 2030 Agenda must match the scope of the challenge \u2013 which means tapping into the potential of all actors to achieve the large-scale transformation needed, the UN chief said.<\/p>\n

\u201cNow is the time for smart investments in people and the planet, where they are needed, when they are needed and at the scale they are needed,\u201d he said. \u201cBillions of lives depend on it.\u201d<\/p>\n

Mr. Ban also said that investments in sustainable and resilient infrastructure are a prerequisite to achieving many global goals. In that vein, the new Global Infrastructure Forum, led by the multilateral development banks, which he attended last weekend in Washington, D.C., is an important step towards bridging this gap.<\/p>\n

\u201cBut more needs to be done. We need to step up our efforts to implement the Addis Ababa Action Agenda in its entirety,\u201d Mr. Ban stressed.<\/p>\n

The private sector must be an active partner, in particular in areas such as the provision of urgently needed social goods, and the growing importance of South-South cooperation must also to be recognized, the Secretary-General said. In addition, he said that developing countries hosting large numbers of refugees should have access to concessional loans, noting that he is glad to see progress on that front.<\/p>\n

The Secretary-General also called for stronger commitment to humanitarian financing, which will be one focus of the first-ever World Humanitarian Summit that he is convening in Istanbul on 23 and 24 May.<\/p>\n

\u201cWith a spirit of true partnership, shared responsibility and solidarity, we can transform our global vision into better lives and greater opportunities for people everywhere,\u201d the Secretary-General concluded.<\/p>\n

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ECOSOC President highlights new chapter in history<\/strong>
\nIn opening remarks at the Forum today, the President of ECOSOC, Oh Joon, highlighted that the launch of the forum marked a new chapter in the history of the financing for development process.<\/p>\n

\u201cIn this process, we are advancing on the solid ground laid out by our predecessors,\u201d Mr. Oh said. \u201cWe must now forge ahead with elevated ambition and innovation based on the lessons learned from these experiences.\u201d<\/p>\n

In particular, Mr. Oh said that the Monterrey Conference and Doha Conference had generated a strong momentum in advancing financing for development issues among Member States, major institutional stakeholders, and others. Furthermore, the ECOSOC special high-level meetings with the Bretton Woods Institutions, World Trade Organization and the UN Conference on Trade and Development (UNCTAD), as well as the General Assembly high-level dialogues on financing for development, have strengthened political momentum leading up to Addis.<\/p>\n

The ECOSOC President noted that for its part, today\u2019s forum serves as a primary platform for policy dialogue on financing for development follow-up. The forum is tasked with assessing progress, identifying challenges and facilitating the delivery of the means of implementation. It is also expected to promote sharing of lessons learned at the national and regional levels, while addressing new and emerging topics.<\/p>\n

The forum also provides a platform for concrete action, enabling broad engagement by relevant stakeholders as well as Member States, and carries out its work in accordance with a strong evidence-based approach, Mr. Oh said.<\/p>\n

\u201cI trust that this forum will provide the right space for exchange on early action taken and will chart the road map for future implementation of the Addis Agenda,\u201d he noted.<\/p>\n

The overall theme of the forum is \u201cFinancing for sustainable development: follow-up to the Addis Ababa Action Agenda.\u201d The inaugural segment began with a special high-level meeting with the Bretton Woods institutions, the WTO and UNCTAD.<\/p>\n

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Via UN News Centre<\/a><\/p>\n<\/div>

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