Financing Sustainable Development

Finance is one of the most often cited barriers to the implementation of sustainable development. The need for significant mobilisation of resources and the effective use of financing, in order to support countries in their efforts to promote sustainable development – including the achievement of sustainable development goals – was recognised at Rio+20, with an agreement reached to establish an intergovernmental process to evaluate and propose options for effective financing for sustainable development. 

Expert Committee on a Sustainable Development Financing Strategy

The General Assembly (GA) decided on 18 June 2013 to establish an Intergovernmental Committee of Experts on Sustainable Development Financing (document A/67/L.70), effective 21 June 2013.The Assembly welcomed 30 experts nominated by the UN’s five regional groups, with equitable geographical representation to serve on the committee. Later in August 2013 the Committee held its first meeting and appointed Nigeria and Finland as its co-chairs.The general scope of the Committee is to assess financing needs, consider the effectiveness, consistency and synergies of existing instruments and frameworks, and evaluate additional initiatives. The committee will conclude its work by 2014, with a view to preparing a report proposing options on an effective sustainable development financing strategy to facilitate the mobilisation of resources and their effective use in achieving sustainable development objectives. For a full timeline of its activities click here.

The process will be carried out in open and broad consultation with relevant international and regional financial institutions and other relevant stakeholders to assess financing needs. By 2014, the group will prepare a report proposing options on an effective sustainable development financing strategy, to facilitate the mobilization of resources and their effective use in achieving sustainable development objectives.

Membership of the Intergovernmental Committee of Experts on Sustainable Development Financing