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News, 8/29/2013 | Ministry for Foreign Affairs of Finland

 

Finland elected to lead the UN Sustainable Development Financing Committee

Press Release 181/2013
28 August 2013

Ambassador Pertti Majanen was elected to chair the United Nations Sustainable Development Financing Committee on 28 August in New York.

Majanen will serve as co-chair of the 30-member Committee along with Mansur Muhtar, former Minister of Finance of Nigeria, until the end of 2014.

“Ambassador Majanen’s position as co-chair of the UN Sustainable Development Financing Committee gives Finland a unique opportunity to be involved in shaping global development,” says Minister for International Development Heidi Hautala. “A successful proposal for financing can create the base for fruitful negotiations on what types of development goals the United Nations sets for the next 15 years.”

The Committee’s task is to produce a draft strategy, extending to the year 2030, for financing efforts aimed at sustainable development, including climate finance and development cooperation. Because the scope of the Committee’s work is very broad, the co-chairs must ensure that the various UN processes work together.

The financial strategy proposal will encompass a wide range of different sources of financing. Finland’s aim is to achieve practical, concrete and action-orientated proposals that could be implemented effectively.

Private financing will play a key role alongside public financing. The pivotal question is how sustainable development objectives are taken into account in financial flows from trade and international investment and, on the other hand, how investments are targeted better than before, for instance for measures aimed at climate change. Public development cooperation financing is important, but it is clear that the majority of the financing must come from other sources.

“Developing countries’ own resources are in a central position, so questions of taxation, accountable management of natural resources, or investment transparency are an important part of the Committee’s work,” Minister Hautala states.

The UN Sustainable Development Financing Committee is part of an extensive package that the United Nations is preparing on behalf of post-2015 development work. The Millennium Development Goals set in 2000 will expire in 2015. The UN Secretary-General has set up a number of working groups to compile proposals for the objectives to which the world organisation and its member states should be committed for the next 15 years so that extreme poverty could be eliminated and global development could be brought to an economically, environmentally and socially sustainable level by the year 2030.

The road map for acceptance of the post-2015 Development Agenda will be adopted by the UN General Assembly on 25 September.

Additional information: Ambassador Pertti Majanen, puh. +353 86 240 5758, Director General Pekka Puustinen, mobile tel. +358 40 481 9892, Press Attaché to the Minister for International Development Milma Kettunen, mobile tel. +350 40 522 9869

 

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Updated 8/29/2013


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