A collective vision of sustainable development

A collective vision of sustainable development (UN Photo/Eskinder Debebe)In collaboration with the Permanent Mission of Austria to the United Nations, DPADM organized a high-level Panel on Safeguarding Financing for Sustainable Development in New York on May 28, 2013.  

As a follow-up to the 22nd UN/INTOSAI Symposium in Vienna in March 2013, the objective of this High-level Panel was to bring to the attention of Member States the challenges and potential safeguards in ensuring economic, efficient and effective use of financing for sustainable development at the national and local levels, particularly in view of anticipated new and innovative sources of funding.

Mr. Wu, DESA’s Under-Secretary-General, made an opening statement on the issue of financing for sustainable development, from both the “sourcing” and “spending” angles. He emphasized the importance of thinking through the financial management cycle in its entirety in order to assure all the varying financial stakeholders of a workable regulatory, implementation and accountability framework:

“Such assurance will give the traditional, emerging and new donors the confidence to participate in public-private partnerships and multi-stakeholder consortia for financing the needed large and small initiatives that will translate the collective vision of sustainable development, as expressed in Rio last year, into reality.”

The Panel highlighted that Supreme Audit Institutions play a key role which is conducive to the implementation of national and international development goals and priorities since they are endowed with powers to demand information on the expenditure of public resources and performance of public institutions to hold governments to account. Their experience and audit-based knowledge can provide valuable advice for safeguarding financing for sustainable development.

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