July 2015: An 11-page briefing note, titled ‘Financing Sustainable Development and Developing Sustainable Finance’ and prepared by the UN Department of Economic and Social Affairs (DESA), summarizes the content of the Addis Ababa Action Agenda (AAAA), the outcome document of the Third International Conference on Financing for Development (FfD3), including a selected list of more than 40 “deliverables” from the AAAA.

FfD3 took place in Addis Ababa, Ethiopia, from 13-16 July 2015, and its outcome document was endorsed by the UN General Assembly (UNGA) in New York, US, on 27 July 2015.

According to the note, the AAAA: provides a new global framework for financing sustainable development; outlines a comprehensive set of policy actions, with a package of over 100 concrete measures to support the achievement of the Sustainable Development Goals (SDGs); and serves as a guide for further actions by governments, international organizations, the business sector, civil society and philanthropists.

On a “new financing framework,” the briefing note states that financing needs to achieve the post-2015 development agenda are on the order of trillions of dollars annually but global public and private savings would be sufficient to address them if financial resources are invested in and aligned with areas of “greatest global need.” It adds that the AAAA: puts forward specific public policies and regulatory frameworks to encourage private investments that support the SDGs; stresses the importance of long-term investment; spells out the potential contributions of public finance; emphasizes that development, dissemination of technology and capacity building are key means of implementation for the post-2015 development agenda; and incorporates each of the means of implementation identified by the Open Working Group on SDGs (SDG OWG).

On AAAA initiatives, the note outlines governments’ commitments to: provide social protection and essential public services for all; launch a global infrastructure forum to identify and address infrastructure and capacity gaps; support the poorest countries, including the Least Developed Countries (LDCs) through, inter alia, strengthening LDC investment promotion regimes; establish a Technology Facilitation Mechanism (TFM) to help facilitate development, transfer and dissemination of technologies relevant for achieving the SDGs; strengthen the UN Committee of Experts on International Cooperation in Tax Matters; and mainstreaming women’s empowerment into financing for development.

The last section summarizes the content of the AAAA in eight areas, which constitute the main chapters of the agenda: domestic public resources; domestic and international private business and finance; international development cooperation; international trade as an engine for development; debt sustainability; addressing systemic issues; science, technology and innovation (STI) and capacity building; and data, monitoring and follow-up. [Financing Sustainable Development and Developing Sustainable Finance: A DESA Briefing Note on the Addis Ababa Action Agenda] [FfD3 Website] [FFD3 Outcome Document – AAAA] [IISD RS Coverage of FfD3] [IISD RS Story on AAAA Endorsement by the UNGA]