Commission presents report on "Investing in sustainable development"

Commission presents report on "Investing in sustainable development"

24/04/2018

Commissioner Mimica presented on 23 April in New York a new report showcasing EU and Member States progress in financing sustainable development in line with the Addis Ababa Action Agenda.

Commissioner Mimica stated: "The Addis Ababa Action Agenda is a major reference point for global sustainable development and effective multilateralism. The report we launched today shows how much the EU has done in the past three years in terms of mobilising all sorts of financial sources and partnerships to help achieve the Sustainable Development Goals worldwide and leave no-one behind."

Commissioner Mimica launched the report "Investing in Sustainable Development" in front of a keen audience during a Side Event at the United Nations Forum on Financing for Development. The Report showcases how the European Union and its Members States work to turn global commitments into concrete actions. It reviews the progress achieved by the EU and Member States since 2015 when the Addis Ababa Action Agenda was adopted.

The report confirms that EU and its Member States remain the largest provider of official development assistance (ODA) in the world. It demonstrates that the EU trade and development instruments are used to strengthen market access opportunities for developing countries. It provides examples of how the EU leads the donor community when it comes to mobilising additional domestic public finance.

Exchanges with ministers from EU Members States and partner countries as well as with private sector representatives allowed for a stimulating debate on achievements and challenges ahead to meet global commitments and achieve the SDGs by 2030.

Commissioner Mimica lead the EU delegation to this year's Financing for Development Forum and heralded a fair and open multilateral rules-based approach in the interest of sustainable development. He pledged a EUR 30 million contribution to the new UN Joint Fund on the 2030 Agenda. He also represented the EU at the High Level Meeting of the Peacebuilding Commission on The Gambia and sponsored the side event on "Total Official Support for Sustainable Development". 

 

Background

The European Union jointly with Germany and the Bulgarian Presidency of the Council of the European Union organised a side event on 23 April during the forum on Financing for Development to take stock of the latest achievements in the implementation of the Addis Ababa Action Agenda from an EU perspective, and foster a discussion with international partners on the most effective way forward.

The report "Investing in sustainable development" monitors progress on the Addis Agenda and the European Consensus for both the EU and Member States.

The Report confirms that the EU and Member States have so far responded by an increase in both policy effort and allocation of financial resources, so that the EU is collectively on track to meet most of its commitments.

In September 2015, the Member States of the United Nations approved a new global development framework, the 2030 Agenda for Sustainable Development, built around 17 Sustainable Development Goals, covering economic, social and environmental issues. The Addis Ababa Action Agenda (Addis Agenda) adopted in July 2015 which is an integral part of the 2030 Agenda. It provides a global framework for financing for development and sets a new paradigm for achieving the Sustainable Development Goals through effective use of all financial flows as well as non-financial means of implementation, emphasising domestic action and sound policies. In June 2017, the EU adopted the new European Consensus on Development, which is the reference framework on development for both the European Union and Member States and a response to the Addis Agenda and the 2030 Agenda.

TOSSD (Total Official Support for Sustainable Development) is a statistical measure that aims to support the Addis Ababa Action Agenda by providing a more comprehensive picture of resources for sustainable development, including, among others, mobilised resources from the private sector, emerging donors' flows, and south-south cooperation.  The objective of TOSSD is to boost learning and coordination about how to access and combine resources most effectively. The aim of TOSSD is not to replace ODA but to fill a knowledge gap about the resources for sustainable development beyond ODA.