Ministry Statements & Speeches:
Thank you co-chairs.
I am pleased to deliver this statement on behalf of Canada, Australia and my own country New Zealand.
We reiterate our sincere appreciation to the co-facilitators and your teams for your tireless leadership throughout this process. Reconciling diverse perspectives is never easy. We commend you on the submission of the final outcome document.
Its adoption by consensus today marks a significant achievement – for our shared commitment to financing sustainable development and for multilateralism.
We wish to make three points.
First, acknowledging that the context today is very different to that of Addis, we must ensure that FfD4 serves as a catalyst for a leaner, more effective multilateral system – one that mobilises all sources of finance, maximises the impact of scarce concessional finance, targets support for those most in need, and delivers tangible progress for the most vulnerable.
Second, FFD4 must incentivise countries’ willingness to undertake bold domestic reforms to accelerate progress towards sustainable development.
At a time when we are challenged to do more with less, generating finance is but one part of the equation. We need to optimize financing flows already in place, including by reducing inefficiencies and fragmentation, while also fostering good governance, and building strong institutions and robust fiscal systems.
One of the most urgent of these reforms is the transition to green economies and renewable energy systems. We were deeply disappointed that, at the eleventh hour, agreed language on climate change was removed from the outcome document. This is a difficult concession, particularly for those on the frontline of climate impacts.
We also wish to put on record that we view the Rio Principles as a package, with no single principle taking precedent.
And third, FFD4 must focus on impact. In this context we remain concerned about proposals that seek to create new processes, expand institutional roles, or convene new dialogues where existing forums already exist. In our view, this approach overlooks processes already in place and undermines efforts elsewhere which continue to advance progress in critical areas, such as debt. More must be done to address debt sustainability, but we are not convinced that duplicating proccesses will produce better results. We remain of the view that a convention on debt risks being ineffective and costly. We are also of the view that any new debt initiatives need to be grounded in clear mandates, avoid fragmentation, and add demonstrable value.
CANZ also wishes to recall that development financing is more impactful when it promotes gender equality and empowers women and girls. Regrettably, successive rounds of negotiation weakened references to gender equality and women’s and girls’ rights in the outcome document. CANZ remains committed to empowering women and girls to achieve their full potential.
Co-chairs, CANZ looks forward to a productive and impactful FFD4 conference in Seville.
Thank you.