n Development Finance Agenda (DEFA) - Financing the change, changing the finance
|Article Title||Financing the change, changing the finance|
|© Publisher:||Chartered Institute of Development Finance (CIDEF)|
|Journal||Development Finance Agenda (DEFA)|
|Publication Date||Jan 2015|
|Pages||12 - 13|
Financing forms an integral part of the Post-2015 framework and will impact the realisation of the Sustainable Development Goals. This article highlights a number of key features which should be addressed in the Addis Ababa agreement including the imbalances of the global tax governance system, the insubstantial regulation of financial actors, the minimal control of financial markets, the lack of responsibility in the financial sector concerning risk, the insufficient regulation of FDI, and the deficiencies in the current sovereign debt governance regime. It recommends that an agreement towards financing the sustainable development goals be built on common but differentiated responsibility and fair burden-sharing; development finance based on solidarity and grounded in the development effectiveness principles. A number of basic principles which should be set out in the agreement for effective financing arrangements and realisation of the SDGs, are presented. These include visibility and transparency of financial assets and flows, the application of human rights and environmental rules into investment and credit criteria, and incorporation of good governance into financial policy, amongst others.
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