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Fund Dates

Start date:15 December 2017

End date: 31 December 2019

 

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Memorandum of Understanding (MOU)

Standard Administrative Arrangement (SAA)

 

The Secretary-General announces the Strategy for Financing the 2030 Agenda

On 18 September 2017, during the UN General Assembly in New York, the Executive Office of the Secretary-General  hosted an event to highlight the central importance of the financing agenda, the existing UN contribution to the agenda, and to signal aspects of the UN’s approach going forward, with its partners, in building on the Addis Ababa Action Agenda in ensuring financing for the 2030 Agenda.

The event is available for replay on the UN Web TV website

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The Secretary-General announces the Strategy for Financing the 2030 Agenda On 18 September 2017, during the UN General Assembly in New York, the Executive Office of the Secretary-General hosted an event to highlight the central importance of the financing agenda, the existing UN contribution to the agenda, and to signal aspects of the UN’s approach going forward, with its partners, in building on the Addis Ababa Action Agenda in ensuring financing for the 2030 Agenda.
Signing of a Letter of Intent to Resource the Fund. 17 September 2017 H.E. Jochen Flasbarth, State Secretary of the Ministry for the Environment, Nature Conservation, Building and Nuclear Safety of the Federal Republic of Germany, and H.E. Gian Luca Galletti, Minister, Ministry for the Environment, Land and Sea, Republic of Italy signed a letter of intention in the presence of H.E. Amina J. Mohammed, Deputy Secretary-General.
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Building a Strategy for Financing the 2030 Agenda

The Secretary-General’s Strategy for Financing the 2030 Agenda and this Fund are designed to accelerate the sustainable finance reform agenda globally and harness the power of the global financial system to support the realization of the 2030 Agenda and the Paris Agreement on Climate.

Context

Financing is key to realizing the 2030 Agenda, including to meet the long-term objectives of the Paris Agreement on climate. Yet flows to date have been wholly inadequate, with a financing gap in the trillions of dollars per annum. Increasing Official Development Assistance flows is critical, but in aggregate will always be a lower order of magnitude than overall financing requirements. Centrally, annual global savings of more than US$7 trillion are not being effectively channeled to sustainable, productive and financially-rewarding uses. This failure of the financial system to effectively play its core intermediation role constrains the flows of investments needed to realize the 2030 Agenda, while perpetuating financing that runs counter to the 2030 Agenda, and therefore poses risks to savers worldwide, including pension and insurance policy-holders.

There are multiple causes of this historic failure, including: weaknesses in recipient countries’ enabling environment and investment pipeline; insufficient public finance to meet financing needs; policy and market failures across the financial system itself, and international, economic conditions and policy approaches that do not advance sustainable development.

Progress is being made to overcome these shortfalls: much is being done to overcome pipeline weaknesses; financial flows are being increased by using Official Development Assistance (ODA); action is increasing in overcoming financial system weaknesses; and some progress has been made in taking account of the broader impacts of economic and financial policy-making on the 2030 Agenda.

 

UN Role

The UN has a mandate to support action on financing the 2030 Agenda, as outlined in the Monterrey Consensus and the Addis Ababa Action Agenda. Building on this, the Inter-Agency Task Force on Financing for Development has progressed on-going reviews of practice and advanced policy debate through inter-governmental and wider dialogue, research, and the development of options for policy and market innovations.

The UN already plays a critical role in advancing financing for the 2030 Agenda.

  • Centrally, the UN is raising awareness and encouraging adoption of UN-brokered norms such as the 2030 Agenda and the Paris Agreement - for example, through the United Nations Economic and Social Council (ECOSOC), the Financing for Development (FFD) Forum and the High-Level Political Forum (HLPF).
  • The UN is de-risking and increasing the returns to financing through its core work on peace and security, humanitarian activities, and sustainable development cooperation.
  • Active engagement on a wide range of explicit financing-related activities at the country, regional and international levels. Many parts of the UN are engaged in explicit financing related activities, from UNDP’s role in supporting the preparation of Integrated National Financing Frameworks and country-level investment plans, to the United Nations Capital Development Fund’s (UNCDF) specific work on increasing the use of digital finance for improved financial inclusion, to DESA, UNCTAD and UN Environment’s work internationally in key forums such as the G20 and the G7 in encouraging the alignment of financial and economic policy with sustainable development, and the UN-wide work under the “Invest in Humanity” banner to develop financing strategies for the humanitarian, development and peace nexus.

 

 Secretary-General’s Strategy on Financing the 2030 Agenda

The Secretary-General recognizes that to secure inclusive, balanced growth and sustainable development it is crucial that the global financial system more effectively fulfils its purpose in mobilizing and channeling both private and public finance. Therefore, action is needed on policy, cooperation and market developments at both the domestic and international level, including:

  • Boosting domestic public and private savings, as the most important source of financing for the 2030 Agenda in most countries.
  • Generating a broader array of international financing options to provide countries with greater options for achieving the 2030 Agenda and goals of the Paris Agreement.
  • Aligning national financial systems with the 2030 Agenda and article 2.1.(c) of the Paris Agreement, through cooperative policies, regulations, standards and non-statutory norms.
  • Aligning international economic and financial policy-making with the above three priorities and the rest of the 2030 Agenda.
  • Harnessing major shifts in the financing landscape to the needs of the 2030 Agenda and in line with article 2.1.(c) of the Paris Agreement.

 To address these challenges, the Secretary-General’s Strategy on Financing the 2030 Agenda will build on the UN’s substantial financing work, and seek to accelerate progress in areas where the Secretary-General’s leadership can make a significant difference, notably in promoting spheres of action towards realising the 2030 Agenda for Sustainable Development and the Paris Agreement on Climate Change.

 

Theory of Change Statement

If both international and country level financial and economic policy making are better aligned to the 2030 Agenda, a number of strategic financing initiatives are supported in the 2018-2019 period, and the convening power of the UN is used to change the narrative around financing for the 2030 Agenda, then the UN will have accelerated the global sustainable finance reform agenda and the power of financing will be more effectively harnessed to support the realization of the 2030 Agenda and the Paris Agreement on Climate. 

Recent Documents

This tab shows only recent documents relevant at the Fund level. To see more documents at both the fund and project level go to the Document Center.

Key Figures
Funding Status
Participating Organizations are required to submit final year-end expenditures by April 30 in the following year; Interim expenditure figures are submitted on a voluntary basis and therefore current year figures are not final until the year-end expenditures have been submitted.
Total as of
Values in US$
View as Excel Print friendly format
Funds with Administrative Agent
Contributions from Donors 2,500,000  
Interest and Investment Income (from Fund) + 0  
Interest (from Participating Organizations) + 0  
Total source of funds   2,500,000
Transferred to Participating Organizations 0  
Refunds from Participating Organizations - 0  
Administrative Agent Fee + 0  
Direct Cost + 0  
Bank Charges + 0  
Total use of funds   - 0
Balance with Administrative Agent   2,500,000
As a percentage of deposits   100.0%
Funds with Participating Organizations
Transfers to Participation Organizations 0  
Total resources   0
Participating Organizations' Expenditure 0  
Refunds from Participating Organizations + 0  
Total expenses   - 0
Balance with Participating Organizations   0
As a percentage of transfers   %
Total Balance of Funds   2,500,000
As a percentage of deposits   100.0%
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Contacts

 

For Policy and Programme Issues

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For Fund Administrative Agent Issues

Multi-Partner Trust Fund Office (MPTF Office), Bureau of Management, United Nations Development Programme;  Fax: +1 212 906 6990;


 

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