Source: United Nations Economic Commission for Europe
The Sevilla Commitment adopted under the Chairmanship of Spain at the Fourth International Conference on Financing for Development (FfD4) and its related Platform for Action is a powerful recognition of the need to align financial flows and resources with the Sustainable Development Goals (SDGs).
Leading a UNECE delegation in Sevilla, UNECE Executive Secretary Tatiana Molcean welcomed the adoption of the Commitment, and highlighted UNECE’s readiness to support member States’ implementation through its normative work and practical tools.
Emphasizing financing for development “as a matter of solidarity, coherence, and shared responsibility”, she stressed that “in the UNECE region, we must not only increase the volume of sustainable finance, but also ensure that its use is strategic, equitable, and effective.” She further underscored UNECE’s commitment to deepen its partnerships with governments, investors, international financial institutions, and civil society to translate these commitments into concrete, measurable progress.
In a series of high-profile engagements, the Executive Secretary stressed the need to align financial systems with the imperative of sustainability – from public budgets and tax systems to mobilizing private finance at scale – and to invest in resilient infrastructure, green and digital transitions, trade capacity and industrial policy, social protection and care systems, and climate action. UNECE works with countries to embed sustainability into regulatory frameworks and standards, covering areas including infrastructure, transport, trade, housing, and transboundary environmental governance, thus helping to improve investment conditions.
Cooperation to unlock financing in shared basins
Among areas of focus was the importance of having strong frameworks in place to finance development in shared basins, showcasing the role of the UN Water Convention, serviced by UNECE. As highlighted in in discussions co-organised with Switzerland and the Netherlands in partnership with the UN Capital Development Fund, water is a key enabler for sustainable development yet faces a huge financing gap: according to OECD, $6.7 trillion are needed by 2030 and $22.6 trillion by 2050 to reach SDG 6. Since 60% of global freshwater is in shared basins, strong cooperation – through legal frameworks, joint institutions, and mechanisms for data sharing and coordination – helps attract and de-risk investment and multiplies benefits for countries.
Aiming to realise this potential, countries made a call to action to enhance cross-border cooperation for financing in shared basins, recalling the strong momentum for the UN Water Convention. This is illustrated by the accession just last week of Bangladesh as the first Party from South Asia, joining 55 Parties from across the pan-European region, Africa, the Middle East and Latin America. 20 more countries are in the process of accession.
Leveraging private finance
To complement public financing, the Sevilla Commitment highlights the urgency of mobilizing private investment at scale and, crucially, aligning it with sustainable development. Despite the UNECE region being home to major capital markets and global institutional investors, long-term investment in inclusive, green, and resilient development remains insufficient.
In various exchanges, Ms. Molcean welcomed the Commitment’s emphasis on ensuring that private finance is additional to public resources, transparent, and aligned with the SDGs. UNECE contributes to this agenda through the development and application of its Public-Private Partnership and Infrastructure Evaluation and Rating System (PIERS). Already used to evaluate SDG credentials of 284 projects in 60 countries and 24 sectors worth $118 billion, PIERS assesses projects not only for financial viability, but also for their impact on people, planet, prosperity, partnerships, and governance.
Regional cooperation
Joining forces at FfD4, the UN Regional Commissions emphasized the importance of regional cooperation in financing for development, from unlocking financial innovation to ensuring follow-up of the Sevilla Commitment’s objectives. In particular, the regional level can help identify collective priorities, share policy innovations, and provide peer support.
UNECE continues to facilitate such cooperation by convening platforms, producing policy guidelines, and fostering cooperation in areas ranging from transport and trade facilitation to statistics and urban development.
Local action
The Executive Secretary further highlighted the importance of action at the local level, considering the direct impact on populations of policies and actions in cities. Addressing the World Assembly of Local and Regional Governments, the Executive Secretary urged that the local level must be adequately financed to localize the SDGs and to ensure full implementation. UNECE’s pioneering Forum of Mayors provides a platform to promote exchange between cities and give them a voice at the multilateral level. The 5th Forum of Mayors will be held 6-7 October 2025 in Geneva, addressing issues including local climate finance mechanisms.
Image credit: UN