Breakout session led by the Geneva Consensus Foundation discusses optimal allocation of the world's resources for maximum global welfare and sustainable development.
| Summary text prepared by the lead organizer of the session: the Geneva Consensus Foundation. The views expressed are those of the author and do not necessarily reflect the views of UNCTAD. |
UNCTAD´s 50th anniversary is justifiably an occasion for recalling the past achievements of the organization and for considering again the powerful potential of UNCTAD for global decision-making in an increasingly integrated age of globalization.
The presence of poverty amongst plenty, of need amidst unused resources, and destitution in the footpath of riches is not a new problem facing humanity. Yet, as stated in the report of the UN Secretary-General "A Life of Dignity for All" the world's quest for dignity, peace, prosperity, justice, sustainability and an end to poverty has reached an unprecedented moment of urgency.
In the framework of UNCTAD Public Symposium 2014 the Geneva Consensus Foundation, represented by the Founding President Dr. Ruzanna Tarverdyan, organized a breakout session entitled "New opportunities for UNCTAD in the post-2015 Agenda- Towards Optimal Allocation of World's Resources for Maximum Global Welfare and Sustainable Development."
The prominent members of the panel representing diverse cultural and complementary professional background included the Ambassador of Denmark to the UN Office at Geneva and representatives of business, academia and civil society. For the full list of panellists, click here.
The panel addressed the issues of Globalization as a factor of peace, the need for diagnostics of policy Effectiveness, Efficiency and Equity in a Globalized World and imminent necessity of UN reform including reinforcement of relevance of UNCTAD and more intensified engagement of the private sector in the implementation of the post-2015 development agenda.
The participants from government, private sector and civil society called for bridging the gap between sciences and stated a need for a new type of metrics, which will account not only for the importance of profit and private cost-benefit but rather national, regional and global cost-benefit consistency. They acknowledged a need for research tools and mechanisms for participatory collaborative decision-making processes that will manage trade-offs and will enable all development stakeholders to make informed choices on managing the process of globalization and plan future development policies of countries towards the achievement of the SDGs.
The session concluded that in order to successfully overcome the contemporary challenges of globalization and to redistribute its benefits, a strong political commitment and institutional capacity will be needed. A need to tap into the knowledge of all stakeholders including not only governments, but legislators, academia, private sector, civil society, etc and mobilize their efforts towards harmonious reconciliation of the interests of people, the environment, and markets was recognized. Public-private partnerships can also help scale up and speed up access to resources, specialized skills, innovations and know-how necessary to build, operate and maintain environmentally sustainable and people-centred globalization.
