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The Drafting Group considering financial issues, chaired by Daudi Ngelautwa Mwakawago (Tanzania), convened in the afternoon. In the draft decision on combating poverty (Chapter 3), the EU called for poverty eradication “as a matter of urgency” and added a reference to country-specific target dates to “substantially” reduce inequality. The G-77/CHINA said strategies should “be geared towards sustainably reducing poverty in the shortest possible time,” with a target date specified by each country for the eradication of absolute poverty. They added a paragraph calling for mechanisms for eradicating marginality among the poorest. The US introduced language on “meeting the basic needs of all” and amended references to poverty eradication. India cautioned against over- emphasizing the rural poor.

In the draft decision on demographic dynamics and sustainability (Chapter 5), the G- 77/CHINA deleted “in particular in support of gender issues” in the sentence acknowledging the importance of actions taken by governments in support of population policies and programmes. The EU added a paragraph suggesting that ECOSOC examine the division of labour between the Commission on Population and Development and the CSD.

In the draft decision on trade, environment and sustainable development (Chapter 2), the G- 77/CHINA said trade measures in MEAs should not deter the search for other approaches. On eco-labelling, they suggested that the CSD invite UN bodies and the WTO to continue elaborating international standards. The EUROPEAN COMMUNITY said there should be a clear recognition that trade provisions in MEAs can play a role in tackling global environmental challenges. They added a subparagraph stressing that there is no evidence that environmental policy has a detrimental impact on competitiveness. The US also supported the role of trade measures in achieving the objectives of MEAs, and cautioned against CSD-4 interference in related deliberations at UNCTAD and UNEP. He reserved judgement on the merits of UNCTAD’s BIOTRADE initiative. JAPAN suggested that the CSD invite UN agencies to examine trade liberalization. MEXICO bracketed the paragraph on MEAs.

In the draft decision on transfer of ESTs, cooperation and capacity-building (Chapter 34), the G-77/CHINA added a paragraph confirming the necessity of access to and transfer of ESTs, on favorable terms, as mutually agreed, taking into account the need to protect intellectual property rights and the need of developing countries to implement Agenda 21.

In the paragraph calling for countries to adopt an appropriate mix of policy measures, the EU added language calling for the adoption of “environmental legislation that would be favorable for successful penetration of ESTs in the market.” CANADA suggested that the “private sector,” rather than “business and industry,” should be urged to further implement the Programme of Work. INDIA expressed concern that several suggestions enhanced the role of the private sector and diluted the role of the public sector, and proposed reference to publicly funded intermediaries and a catalogue of proven technologies.

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