La mia positon paper

Committe: ECOFIN Country:Austria

Topic Area A: Ensuring access to affordable, reliable, sustainable, and modern energy for all

Energy is the lifeblood of modern civilization, powering economic growth, social development, and technological innovation. Austria recognizes the paramount importance of ensuring access to affordable, reliable, sustainable, and modern energy for all, as outlined in Sustainable Development Goal 7 (SDG 7) of the United Nations' 2030 Agenda for Sustainable Development. In addressing this crucial issue, Austria firmly believes in the integration of all four key aspects: reliability, affordability, sustainability, and modernity.

Reliability stands as a foundational pillar, essential for meeting the basic needs of individuals and communities. Without reliable energy sources, essential services such as healthcare, education, and transportation are compromised. Austria emphasizes the importance of investing in resilient energy infrastructure to mitigate disruptions and ensure continuous access to electricity and other energy services.

Affordability is equally critical, particularly for vulnerable populations and marginalized communities. Access to affordable energy enables poverty reduction, enhances social equity, and fosters economic development. Austria advocates for targeted policies and measures to reduce energy poverty, such as subsidies for low-income households and the promotion of energy-efficient technologies.

Sustainability lies at the heart of Austria's energy strategy, recognizing the urgent need to mitigate climate change and preserve the environment for future generations. Transitioning towards renewable energy sources, such as wind, solar, and hydroelectric power, is essential for reducing greenhouse gas emissions and achieving carbon neutrality. Austria is committed to phasing out fossil fuels and promoting clean energy alternatives through ambitious renewable energy targets and carbon pricing mechanisms.

In addressing the prioritization of reliability, affordability, sustainability, and modernity, Austria recognizes the interconnectedness of these objectives and emphasizes the need for a balanced approach. While each aspect holds its own significance, they are mutually reinforcing and complementary. Therefore, Austria advocates for an integrated energy policy framework that addresses all four dimensions holistically, taking into account the specific context and needs of each country.

Topic Area B: Promotion of international cooperation to combat illicit financial flows in order to foster sustainable development

Illicit financial flows pose a significant threat to global economic stability, undermine the rule of law, and impede sustainable development efforts. Austria recognizes the importance of promoting international cooperation to combat illicit financial flows and foster sustainable development, as articulated in Sustainable Development Goal 16 (SDG 16) of the 2030 Agenda.

Illicit financial flows encompass a wide range of illegal activities, including,,, money laundering, tax evasion, corruption, and terrorist financing. These illicit activities deprive countries of vital resources needed for essential public services, such as healthcare, education, and infrastructure. Austria acknowledges the urgent need for concerted action at the international level to prevent, detect, and prosecute illicit financial flows effectively.

Developed, developing, and least developed nations face unique challenges and vulnerabilities concerning illicit financial flows. Developed nations often serve as tax havens and facilitators of illicit financial activities, while developing and least developed nations struggle with weak regulatory frameworks, limited enforcement capacity, and lack of access to financial resources. Austria recognizes the need for differentiated approaches tailored to the specific circumstances and capacities of each country.

Supporting developing and least developed nations in combating illicit financial flows requires a multifaceted strategy encompassing technical assistance, capacity building, information sharing, and financial cooperation. Austria emphasizes the importance of strengthening international institutions, such as the Financial Action Task Force (FATF) and the World Bank, to provide guidance, resources, and expertise to countries in need.

Furthermore, Austria advocates for enhanced transparency and accountability in the global financial system, including the adoption of beneficial ownership registries, automatic exchange of financial information, and enhanced due diligence requirements for financial institutions. By promoting transparency and accountability, Austria aims to prevent the misuse of financial systems for illicit purposes and promote sustainable development outcomes.

In conclusion, Austria reaffirms its commitment to promoting international cooperation to combat illicit financial flows and foster sustainable development. By working together with other countries and stakeholders, Austria believes that we can build a more transparent, accountable, and inclusive financial system that serves the interests of all nations and contributes to the achievement of the Sustainable Development Goals.