Breakfast Dialogue on Financing for Sustainable Development

NEW YORK – 28 October 2013 – On Tuesday the 22nd of October, the fourteenth breakfast co-convened by International Movement ATD Fourth World and the Baha’i International Community took place, focusing on the topic: “What should be done to finance the post-2015 sustainable development agenda?”  Opening remarks were made by Ambassador and Deputy Permanent Representative, Mr. Eduardo Gálvez, Permanent Mission of Chile to the United Nations, and by Ms. Shari Spiegel, Chief Policy Analysis & Development Branch Financing for Development Office, United Nations Department of Economic and Social Affairs.Following the opening remarks was an open discussion, including a diverse array of perspectives.  While it was acknowledged that Official Development Assistance (ODA) is necessary, it will not generate sufficient financing for sustainable development (FfD).  Rather, an enabling and inclusive environment must be created which will require peace and security, the rule of law, respect for human-rights, policies for inclusive economic growth and trade, a friendly international labor environment, financial stability, and multi-level accountability.  Participants raised issues related to the private sector, which is not a substitute for the public sector; the public sector plays a key role in reducing poverty and leveraging the private sector. As the private sector has shown a history of short-term investing and sustainable development needs stable, long-term investors, we must provide incentives for the private sector to invest in areas with low financial returns while holding them to ethical standards.  The foundation for FfD comes from the Monterrey Consensus and Doha, and we must build on this existing foundation.One participant raised the idea that we must also address the issue of extreme wealth if we are going to address the issue of extreme poverty. Other issues that were raised included: the need to build bridges between moderates; the use of technology transfer to promote growth; promoting idealism in view of the planet’s limited resources; the UN missions must influence leadership; inclusion of youth.The topic of the next dialogue is “MDG 8: Learning from Experience; Where do we go from here?” and will take place the third week of November.