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Statement delivered by the Minister of Development Cooperation, Flemming Moeller Mortensen, at the ECOSOC Financing for Development Forum on April 12, 2021

13.04.2021  18:01

2021 ECOSOC Financing for Development (FfD) Forum

General Debate on April 12 2021 

Statement by the Minister of Development Cooperation,

 Flemming Møller Mortensen, Denmark

 

COVID-19 has shown us the value of solidarity and the cost of inaction.

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We cannot afford to let inequality grow. For the first time in 25 years, the number of people living in extreme poverty is increasing on a global level.

 

We cannot afford to ignore climate change. The effects of climate change have a disproportionate impact on the poor. Estimates indicate that without immediate action, climate change impacts alone will push an additional 130 million people into extreme poverty by 2030.

We simply cannot afford not to act. We must learn from the pandemic and respond by Building Back Better and Greener.

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For 44 years, Denmark has lived up to the UN target of providing at least 0.7 pct. of our GNI to development aid.  I would like to use this opportunity to encourage more countries to do the same.

Wealthy nations have a big responsibility.  The same goes for global companies, funds and financial institutions.

We need to fight tax evasion and fraud globally and locally to make sure that everyone pays their fair share, including big tech.

And we all need to partner up with the private sector.  There is no way around it. We cannot achieve our development and climate goals without private financing

Building on initiatives like Danish pension funds’ commitment to invest more than 55 billion USD in the green transition away from fossil fuels. Making sure that my retirement savings are invested to benefit the next generation.

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Let me conclude by making it as clear as possible.

The world cannot afford to let inequality continue to grow.

The world cannot afford to leave climate change undealt with.

We must act to help those in need. Inaction is simply too costly. And morally wrong.

Thank you.