Finance

ECLAC Projects Economic Slowdown in LAC Region [viewed]

ECLAC29 July 2015: The UN Economic Commission for Latin America and the Caribbean (ECLAC) has released projections indicating that the countries of the region will grow 0.5% on average in 2015. The projections are contained in ECLAC's annual report, titled ‘Economic Survey of Latin America and the Caribbean 2015,' which was released during a press conference in Santiago, Chile.

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UNGA Endorses Addis Ababa Action Agenda [viewed]

logo_ffdiii27 July 2015: The UN General Assembly (UNGA) has endorsed the outcome of the Third International Conference on Financing for Development (FfD3), the Addis Ababa Action Agenda (AAAA). The endorsement occurred during an UNGA plenary meeting where delegates adopted resolution A/69/L.82 titled ‘Addis Ababa Action Agenda of the Third International Conference on Financing for Development,' which includes the AAAA as an annex.

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Co-Facilitators Issue Revised Post-2015 Outcome, 'The 2030 Agenda for Sustainable Development' [viewed]

post2015-in7-526 July 2015: The revised draft of the outcome document for the UN summit for the adoption of the post-2015 development agenda was released on 26 July 2015, ahead of the second week of the final negotiation session on the agenda. Co-Facilitators David Donoghue of Ireland and Macharia Kamau of Kenya write in their covering letter to UN Member States that the draft takes account of the wide range of views expressed during the first week, held on 20-24 July.

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European Environment Ministers Discuss SDGs, Climate Finance [viewed]

European Council23 July 2015: During an informal Council of Environment Ministers, European Ministers agreed that the proposed Sustainable Development Goals (SDGs) to be adopted at the UN summit for the adoption of the post-2015 development agenda are a challenge and an opportunity leading towards more sustainable, equitable and coherent policy making at the international and European level. The UN summit is to take place in September 2015, in New York, US.

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Stern Confirms Economic Case for Climate Action [viewed]

nicholas_stern22 July 2015: An article released ten years after the 'Stern Review on the Economics of Climate Change' reaffirms that the cost of inaction on climate change is still greater than the cost of action. Authored by Nicholas Stern, who authored the original Review, the article, titled 'Economic Development, Climate and Values: Making Policy,' finds that the case for climate action is even stronger today than at the time of the Stern Review's publication a decade ago.

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Vatican, Mayors Highlight Links between Climate Change and Human Trafficking [viewed]

pontifica_academia21 July 2015: At a summit for mayors of 70 cities from around the world, Pope Francis spoke on climate change and its links to human trafficking, health problems and unemployment. During the event, titled 'Modern Slavery and Climate Change: The Commitment of Cities,' the Pope and the mayors signed a declaration highlighting the "very vital role" of cities "in the face of the emergencies attributable to human-induced climate change, social exclusion, and extreme poverty."

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Civil Society Reflects on FfD3, Issues Recommendations on Post-2015 Agenda [viewed]

post2015July 2015: Civil society organizations have responded to the Addis Ababa Action Agenda (AAAA) of the Third International Conference on Financing for Development (FfD3), and have released responses and summaries to the draft outcome document for the UN summit for the adoption of the post-2015 development agenda. Responses address, inter alia: areas of consensus and disagreement on the post-2015 draft; recommendations on improving text related to inequality, climate change, energy, land and other topics; data challenges; the translation of discourse into policy; education; and the role of business.

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New Development Bank Opens for Business [viewed]

ndb21 July 2015: The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, a multilateral development bank (MDB) operated by the BRICS group of countries (Brazil, the Russian Federation, India, China and South Africa), has begun its operations. The NDB will be headquartered in Shanghai, China, and each country will be assigned one vote, while no country will hold veto power.

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Two-Week Session to Finalize Post-2015 Agenda Kicks Off [viewed]

announcementpost1520 July 2015: Opening the seventh session in the intergovernmental negotiation process on the outcome document of the UN Summit to adopt the post-2015 development agenda, the Co-Facilitators stressed the need to conclude negotiations by 31 July, and expressed confidence in UN Member States' ability to "do great things."

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FfD3 Concludes with Adoption of Addis Ababa Action Agenda [viewed]

iisdrs_FfD316 July 2015: The Third International Conference on Financing for Development (FfD3) has concluded with the adoption of the Outcome Document of the Conference, the Addis Ababa Action Agenda (AAAA). In support of the AAAA, a number of significant partnerships were launched during FfD3, including: the Addis Tax Initiative, which will support strengthening domestic tax systems; the Global Financing Facility in Support of Every Woman Every Child, which brings together countries, donors and the private sector; and the Commission on Financing Global Education.

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