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Making financing for development more accountable?

Making financing for development more accountable?

Proposals for strengthening corporate accountability in the Financing for Development ‘outcome document’.

Publication

1 May 2015

To improve private sector contributions to sustainable development ForUM published the report “Making Financing for Development more Accountable: Proposals for strengthening corporate accountability in the Financing for Development outcome document” written by SOMO.

Forum for Development and Environment (ForUM) is a network of 50 Norwegian organisations coordinating policy proposals for the Post-2015 Agenda. To ensure that the domestic and international private sector respects human rights and supports sustainable development, states must adopt a regulatory framework that offers effective means of legal protection against business-related human rights abuses and provides remedy for those harmed.

The Third Financing for Development (FfD) summit in Addis Ababa 13-16 July provides an unique opportunity to move from voluntary commitments towards regulatory requirements, as proposed in the “zero draft” of the outcome document for the FfD conference that was negotiated on 13-17th April 2015 by UN member states in New York. The outcome of these negotiations should significantly contribute to and support the implementation of the post-2015 development agenda.

The report discusses the general principles regarding corporate accountability and the need to integrate it into the FfD3 Outcome Document. Furthermore it delivers input and recommendations on the relevant subsections of the zero draft of the Outcome Document.