5 October 2010: The general debate of the Second Committee (Economic and Financial) for the 65th session of the UN General Assembly (UNGA) opened on 4 October 2010, in New York, US.

Sha Zukang, Under-Secretary-General for Economic and Social Affairs, noted the success of the recent Millennium Development Goals (MDGs) Summit and the supplementary side events on small island developing States (SIDS) and biodiversity, but underscored that many persistent challenges demand global attention. Committee Chairperson Enkhtsetseg Ochir ( Mongolia) opened the session by mentioning the upcoming 10th session of the Conference of the Parties (COP) to the Convention on Biological Diversity (CBD), and expressed the hope that the side event on SIDS would shed light on their particular needs and how to address them effectively.

A number of delegations then made statements. On climate change, Nauru, speaking on behalf of the Pacific SIDS, stressed the need for renewed international commitment to achieve an ambitious outcome to ongoing negotiations. Referring to the upcoming 16th session to the Conference of the Parties to the UNFCCC (COP16), she added that “Cancun risks being a failure if we agree to lower our ambitions.” Nauru also underlined the urgent need to disburse fast-start financing to the most vulnerable countries. Suriname, speaking on behalf of the Caribbean Community (CARICOM), stated that while the objective of elaborating a legally binding instrument would not be achieved at Cancun, the meeting later this year represented an important milestone in realizing it.

On sustainable development, Nauru noted that the Pacific region was not on track to achieve the MDGs, and called on the international community’s support, pointing out that a major obstacle to pursuing sustainable development was the lack of adequate finance. She explained that many Pacific SIDS could not access international finance due to eligibility criteria, and stressed the need for streamlined access to international financial institutions and for support from the UN system. Suriname, speaking on behalf of CARICOM, emphasized that the special standing of SIDS was recognized in both the Barbados Programme of Action (BPOA) and the Mauritius Strategy of Implementation (MSI), and said it had therefore “been shocking” to hear their vulnerabilities debated during the five-year review. Nauru also highlighted that the sustainable management of tuna stocks remains a challenge and called for a more equitable share of financial benefits from the use of Pacific marine resources, as well as direct investment in Pacific fishing industries.

On governance, Nauru underscored that the MSI calls for a formal category for SIDS within the UN system, with structural support in the areas of trade and finance. [UN Press Release]