UNGA Decides to Establish Sustainable Development Financing Committee
21 June 2013: The UN General Assembly (UNGA) has agreed to establish the Intergovernmental Committee of Experts on Sustainable Development Financing (ICSDF). The Committee is expected to assess the consistency, effectiveness and synergies of existing financial instruments and frameworks, as well as additional initiatives, and to prepare a report proposing options on a sustainable development financing strategy.
In a decision adopted on 21 June 2013 (A/67/L.70), the UNGA established the Committee in light of recognition by the UN Conference on Sustainable Development (UNCSD, or Rio+20) Outcome Document of the need to mobilize funds and effectively use financing to facilitate and promote sustainable development, including the achievement of the Sustainable Development Goals (SDGs).
The Committee is expected to hold its first meeting in August 2013. It will be composed of 30 experts nominated by the five UN regional groups. The list of experts and their replacements are included as an annex to the draft decision. Per the UNGA decision, the regional bodies are authorized to appoint replacements for their experts.
The decision requests the UN Secretary-General to provide necessary support for the Committee until it completes its work in 2014, at which time the UNGA will consider the Committee's report.