CISDL News & Press Releases

New York USA| January 24, 2002

Financing for Development Conference should Integrate Sustainable Development Principles

In March 2002 in Monterrey, Mexico, world leaders will address the key role that financing will play in the realising the goal of development. In New York, government representatives are meeting in a final preparatory commission meeting from the 14-25 January to finalise a draft outcome document.

The CISDL advises the Financing for Development Conference to integrate major principles of sustainable development:

1. Ensure that financing, through aid, and the proceeds of trade and investment occurs in a manner that respects the environment and human rights.

2. Ensures that financing prioritises the needs of the poor.

The CISDL advises, in particular, that the following commitments be made in the final consensus:

- Strong commitment to an immediate increase in international aid, and a clear timetable for the increase in assistance to the UN target of 0.7 % of GNP. This action will help give effect to the obligations upon states contained in the Universal Declaration of Human Rights and the International Covenant on Economic, Social and Cultural Rights.

- Reservation of at least 20% of international aid and 20% of domestic budgets to social security measures, health and education, together with a clear commitment to protect the most vulnerable groups.

- Commitment for aid, trade and investment to be applied in a manner that upholds human rights and the protection of the environment. This requires in particular the development of mechanisms for accountability of corporations and international institutions, and more widespread use of sustainability impact assessments.

- Commitment to reduce unsustainable debt, particularly debt that leads to neglect of basic human rights and which encourages environmental degradation.

- Adherence to an ideal of co-responsibility and partnership between all states.

"We strongly advise the Financing for Development process to fully integrate the principles of sustainable development, in particular environmentally and socially sound trade, investment and aid and the prioritization of the poor" said CISDL Director Ashfaq Khalfan in New York. He can be contacted in New York for interviews on the ISDL aspects of the negotiations at ashfaq@cisdl.org.