ECOSOC: Ambassador Berger on financing of sustainable development at the ECOSOC Spring Meeting
(ECOSOC: Statement by Ambassador Berger on financing of sustainable development at the ECOSOC Spring Meeting)
I would like to thank all the presenters for their excellent presentations. Germany aligns itself to the comments that will be made by the European Union. I would like to make three additional comments on
- the role of the private sector in the green economy,
- on climate financing and
- and on the mobilization of domestic resources and good financial governance
before asking one question to the panel.
Yesterday’s speakers put a particular emphasis on the role of the private sector for the financing of sustainable development. This is very much in line with the German perspective. The transformation to a green economy bears tremendous potentials for sustainable growth and poverty reduction. In this transformation countries will have to draw also on the private sector as this transition cannot be financed by governments alone. However the shift towards greener growth will not only imply investments and costs for the private sector, but also substantial opportunities for both- business and job creation.
My second point is about climate financing which has been addressed by several panelists. A strong ownership by developing countries is indispensable for development. Germany deems it important to continue working on the identification of potential sources of climate financing, also with regard to synergies between the activities of the organisations present today. We believe that, in light of budgetary constraints, it will be necessary to scale-up finance from a wide variety of sources, including innovative sources – without reducing traditional ODA.
Germany takes international climate financing seriously. We provide currently around 1,8 billion EUR (2011) for climate adaptation and mitigation measures worldwide. Germany used the public resources and carbon market finance to mobilize both additional capital market funds as well as private sector investments. For the future we envisage the new Green Climate Fund to become the central instrument for climate finance. Therefore, we need to speed up the operationalisation of the GCF and ensure it provides the added value and make sure the money is spent efficiently.
Thirdly, with a view to the mobilization of domestic resources and good financial governance, Germany supports its partner’s efforts, through the “International Tax Compact” (ITC). This initiative helps fighting tax evasion and provides an international platform for dialogue and action to assist developing countries in establishing fair and efficient tax systems. As South-South cooperation is becoming more and more essential, we support the UNDP/UNDESA “South-South Sharing of Successful Tax Practices” and help enhance the UN Tax Committee.
Germany looks very much forward to our discussions and would be grateful, if the distinguished panelists could also point out, if and where they see a need to strengthen the coherence and coordination in the UN-System in this field.