In 2015, the international community will adopt a new development agenda, seeking to end poverty and ensure sustainable development globally and in every nation. This enormous challenge can only be overcome with sufficient financial means. We, the Intergovernmental Committee of Experts on Sustainable Development Financing, have been tasked to propose options for a financing strategy that would facilitate the mobilization of resources and their effective use in achieving sustainable development objectives.
Our report makes a threefold contribution to meet this mandate: it develops a comprehensive analytical framework; it proposes a basket of over 115 policy options for policy makers to choose from; and it suggests areas for advancement of the global partnership for sustainable development, including in the areas of trade, taxation, financial market stability, debt and development cooperation, among others.
We recommend that all countries implement country-owned sustainable development financing strategies, complemented by enabling national and international policy environments. Such financing strategies should incorporate all sources of financing, including public and private, domestic and international, with each type having a unique role based on its specific characteristics. We find that with the necessary political will, the international community can meet the financing needs for a transformative sustainable development agenda. The challenge is huge, but with a joint effort, it is surmountable.