Recalling its endorsement of the outcome document of the United Nations Conference on Sustainable Development (Rio+20) titled The Future We Want, 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 to serve on the committee. The Assembly also asked the committee to hold its first meeting no later than August 2013 and requested the Secretary-General to provide the necessary support for the committee until it completed its work in 2014. The first meeting is scheduled for 26-30 August 2013, at UN Headquarters in New York; at this meeting, the group’s co-chairs will be elected.
As the Rio+20 outcome document recognized the need for significant mobilization of resources from a variety of sources and the effective use of financing, the Intergovernmental Committee of Experts on Sustainable Development Financing will give strong support to developing countries. This support should take into account their efforts to promote sustainable development and for achieving sustainable development goals.
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.
– Stakeholders Forum. Original article published at www.un-ngls.org
