Co-Chairs, H.E. the Ambassador of Kenya and H.E. the Ambassador of Hungary, gave a brief summary of the progress from the fourth session of the Intergovernmental Committee of Experts on Sustainable Development Financing, and the way forward leading up to mid-august when the proposal will be given to the attention of the secretary general. The committee’s major concern is quantifying needs across all three areas of Sustainable development especially the social and environmental elements. Quantifying the financial need of socio-climates amounts to an immense task however H.E. the Ambassador of Kenya was confident the committee would be able to reach a consensus on an effective financial document and policy implementation in the near future.
Co-Chair H.E. the Ambassador of Hungary expressed his belief that previous funding towards sustainable development neglected the private sector and for the most effective policies the international system should combine public and private assets. The private sector now has a much stronger role in the international trading system especially in states that have show substantive economic improvement such as China, India and Brazil. H.E. emphasized the role of private trade as a means of providing employment opportunities, new industries and income tax to developing and developed states.
H.E. Ambassador of Kenya reflected on the effective dialogues shared in Latin America and Africa. These ESCA organized outreach efforts provide platforms for discussion between states, stakeholders and regional experts. The meetings are an effort to reach out for feedback and to facilitate regional input for a holistic financial network in support of sustainable development. These outreach programs will next meet for discussion on finances from the Asian and Pacific region.
The Co-Chairs anticipate that the committee’s dynamic work will amount to concrete actionable policies for the long term funding of sustainable development incorporating state leaders, private funders and civil societies.
Meeting Title:Intergovernmental Committee of Experts on Sustainable Development Financing (Fourth Session) – Open briefing on the progress of the Committee’s work by the co-chairs
Speakers: Co-Chairs; H.E. Ambassador of Kenya and H.E. Ambassador of Hungary, as well as questions from H.E. Ambassador of Singapore, Norbert Kloppenburg, Canada, Switzerland and Djibouti
Location: United Nations HQ, New York
Date: 16 May 2014
Written by WIT representative: Sophia Griffiths-Mark