Financing the Sustainable Development Goals (SDGs).
After a year of intensive negotiations, on July 16 the third UN conference for Financing for Development (FFD) culminated in 193 countries signing the Addis Ababa Action Agenda. The document sets out broad principles on how to mobilise finance in sufficient quantities to achieve the new Sustainable Development Goals (SDGs), which will be agreed in September in New York. The negotiations generated consensus around new norms on tax cooperation and illicit financial flows (IFFs), but also set ambitious expectations for multilateral development banks (MDBs).
Addis begins a key year for development finance, culminating in December's Conference of the Parties (COP21) on climate change in Paris.
The goal of COP21 is to draft the first universal climate agreement, which should take effect by 2020 at the latest.
However, COP21 must also aim to map out a credible path towards mobilising 100 billion dollars per year in climate finance.
