The High Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda aims to contribute to the implementation of the 2030 Agenda for Sustainable Development by:
The FACTI Panel is the High Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda. It aims to improve the world’s chances of achieving sustainable development by making recommendations that both strengthen current efforts to combat illicit financial flows, and close remaining gaps in the international system.
General Assembly resolution 74/206 includes an invitation to the President of the General Assembly and the President of the Economic and Social Council to give appropriate consideration to the importance of combating illicit financial flows and strengthening good practices on asset return to foster sustainable development. The President of the General Assembly and the President of the Economic and Social Council welcome this call. On this background, they are convening the FACTI Panel.
The FACTI Panel is supported by an independent secretariat, hosted by the United Nations Department of Economic and Social Affairs/Financing for Sustainable Development Office.
Funding for the Panel’s work and the independent secretariat is provided through voluntary contributions to the Trust Fund to Support Activities for the Follow-up to the International Conference on Financing for Development. Further information on the independent secretariat is available here.
The FACTI Panel is expected to contribute to the overall efforts undertaken by Member States to implement the ambitious and transformational vision of the 2030 Agenda.
The FACTI Panel is expected to contribute to the overall efforts undertaken by Member States to implement the ambitious and transformational vision of the 2030 Agenda.
The FACTI Panel is expected to contribute to the overall efforts undertaken by Member States to implement the ambitious and transformational vision of the 2030 Agenda for Sustainable Development.
Ensuring the effective implementation of comprehensive international frameworks related to financial accountability, transparency and integrity is critical to financing the Sustainable Development Goals.
The FACTI Panel will solicit comments and suggestions from policymakers and government officials, representatives of international agencies, academics, the private sector and members of civil society, both at its formal meetings and between them. International bodies, including UN System agencies and non-UN institutions, are invited to work with the Panel. Together, these deliberations and inputs will feed into an interim report of findings to be presented in July 2020. This will be followed up with a final report, including recommendations, in February 2021.
The FACTI Panel is composed of fifteen members, chosen jointly by the Presidents of the General Assembly and the Economic and Social Council. They are drawn from policymakers, academia, civil society, the public and private sectors.
Panel members are chosen for their understanding of the complexities of financial accountability, transparency and integrity; their grasp of the strengths and weaknesses of existing institutions; their experience in relevant policy design and implementation; and their knowledge of the challenges faced by countries from different regions and at different development levels.
Meet the members of the FACTI Panel here.
Panel members are acting in a voluntary capacity and are not paid. They are reimbursed for their travel expenses, in compliance with standards set by the International Civil Service Commission.
The FACTI Panel is not a watchdog group. It was established by the President of the General Assembly and the President of the Economic and Social Council to review current challenges and trends related to financial accountability, transparency and integrity, and to make recommendations for strengthening what is already working while addressing any gaps and vulnerabilities.
Engagement with governments and stakeholders is at the heart of the FACTI Panel approach.
Throughout the term of the Panel’s work, its members will engage with Member States to understand their circumstances, practices and needs.
The Panel will solicit comments and suggestions from interested stakeholders including policymakers and government officials, representatives of international agencies, academics, the private sector and members of civil society, both at its formal meetings and between them. International bodies, including UN System agencies and non-UN institutions, are invited and encouraged to work with the Panel.
There are existing mechanisms of international cooperation, both within the United Nations and outside of it. Yet, in the view of many Member States and other stakeholders, there is room for improvements in the implementation, inclusiveness, and/or design of the international institutional architecture.
The FACTI Panel will identify any gaps, impediments and vulnerabilities in the design and/or implementation existing international institutional and legal frameworks related to financial accountability, transparency and integrity. It will then make evidence-based recommendations on making systems more comprehensive, robust, effective, and universal in approach.
While it is true that there is no agreed definition of this term, this does not prevent Member States from taking action in policy areas relevant to financial accountability, transparency and integrity.
This Panel is responding to the urging of Member States to recommend solutions that will contribute to strengthening the international financial architecture, in order to achieve the 2030 Agenda for Sustainable Development.
The FACTI Panel wants to hear from you!
Follow us on Twitter at @FactiPanel and tweet us your ideas using the hashtag #FinancialIntegrity.
Get in touch with our Secretariat here.