Committee of Experts on Sustainable Development Financing
Finance is one of the most frequently cited barriers to the implementation of sustainable development. The need for significant mobilisation of resources from a variety of sources and the effective use of financing was recognised in the Rio+20 Outcome Document, which also highlights the need to give support to developing countries in their efforts to promote sustainable development, including the achievement of SDGs.
Heads of State and Government agreed at Rio+20 to establish an Intergovernmental Committee of Experts on Sustainable Development Financing, to work in parallel to the OWG on SDGs under the auspices of the General Assembly, to evaluate and propose options for effective financing for sustainable development.
Specifically, the Committee's mandate was to prepare a report proposing options on an effective financing strategy to facilitate the mobilisation of resources and their effective use in achieving sustainable development objectives. In the course of its work the Committee has assessed financing needs; consider the effectiveness, consistency and synergies of existing instruments and frameworks; and evaluate additional initiatives.
A key responsibility of the Committee was to develop an understanding of and propose improvements to the fragmented development financing landscape. The Expert Committee has played a crucial role in suggesting reforms of the global financial system to contribute to an equitable and sustainable financing strategy.
Given the mandate of the Committee of Experts, its recommendations have important implications for the implementation of the SDGs. Accordingly, the report of the Committee is one of the inputs the UN Secretary-General will include in his synthesis report to feed into the intergovernmental process leading to the adoption of the Post-2015 Development Agenda.
Read the Expert Committee's final report here.