8 December 2014: The 69th session of the UN General Assembly (UNGA) discussed and adopted a resolution on the ‘Report of the Intergovernmental Committee of Experts on Sustainable Development Financing (ICESDF)’ (A/69/L.32). By the resolution, the Assembly reaffirms that the ICESDF report, the Open Working Group (OWG) on the Sustainable Development Goals (SDGs) Outcome Document and the UN Secretary-General’s synthesis report are valuable inputs for the preparations for the Third International Conference on Financing for Development (FfD).

In the meeting on 8 December 2014, many delegates welcomed the ICESDF report and its use of the Monterrey Consensus of the International Conference on FfD as the basis for analysis, including the EU, Australia, Canada, Germany and Japan. Finland described the report as a fundamental contribution towards the post-2015 development agenda, welcomed the aim of mobilizing sustainable development financing from all sources and urged a monitoring and accountability mechanism. Japan supported the report’s inclusion of triangular cooperation and its incorporation of a gender perspective and a people-centered approach.

The Group of 77 and China (G77/China) described the report as one input, among others, on which to agree on financing and means of implementation (MOI) for the SDGs. He stressed the importance of the principle of common but differentiated responsibilities (CBDR).

Several countries highlighted official development assistance (ODA). The Least Developed Countries (LDCs) recommended allocating 50% of ODA to LDCs, and called for the Conference to take decisions on technology transfer and trade. Slovakia underscored the importance of ODA for LDCs, landlocked developing countries (LLDCs) and small island developing States (SIDS). Australia said ODA should be better directed to help countries generate financing and investment for their development. Canada said domestic resource mobilization was the most important financing source for developing countries. China said the report places too much emphasis on domestic and international financing and not enough stress on ODA. Ecuador recognized ODA as key to achieving development goals, and described South-South cooperation as a supplement, not a replacement, to North-South cooperation.

Delegates also addressed climate change financing. The Africa Group, Egypt and Iran said climate financing should be considered separate from development financing. Brazil said financing for climate change activities should be addressed under the UNFCCC and should be adequate, new and additional.

Switzerland praised the report for systematically integrating “the missing link of Monterrey and Doha,” stressing the importance of a comprehensive framework for aid, climate finance, private sector flows and other funding sources. [UN Press Release] [IISD RS Story on ICESDF Report] [Publication: Report of the Intergovernmental Committee of Experts on Sustainable Development Financing: Final Draft]