The Intergovernmental Committee of Experts on Sustainable Development Financing (ICESDF), together with the Finnish Government hosted a multi-stakeholder consultation on “Co-creating new Partnerships for Financing Sustainable Development”, that took place in Espoo, Finland April 3-4. The event was attended by representatives from governments, private sector, the UN and a number of civil society representatives.
The participating CSOs raised a number of points during the consultation and also put forward a joint statement, presenting some key understandings amongst them. The statement will be shared with all members of the ICESDF and has already been shared with the Finnish Co-chair Ambassador Pertti Majanen. 20 NGOs and NGO-networks from 4 continents have endorsed the statement.
The statement reminds the Committee that the cost of inaction is higher than the cost of action and that financing of good quality and quantity, sustainable use of our natural resources and crucial policy changes, which works in favor for of those currently left behind are needed. The statement also underlines to the importance of recognizing the different roles of different actors, and that private sector cannot replace the role of the private sector. A number of important critical rules and policies are pointed out, including corporate accountability, climate change, domestic resource mobilization and illicit outflows, the financial sector and trade and investment policies.
To read the full statement in PDF form click here.