Smart Investment in Data for Global Action
UK Foreign, Commonwealth & Development Office
An organized and strategic effort championed by UK FCDO to provide an opportunity for donors to look ahead on what is planned and provide and receive guidance for getting to a smart investment action plan and a roadmap for sustainable investment to fulfill the objectives of the Cape Town Global Action Plan 2.0.
Acknowledging the influence of donor funding models, engaged participants will build on the foundation set by the Bern Principles by prioritizing the alignment of donor priorities with country development plans, coordinating activities and investments to enhance efficiency, prioritizing country ownership, and overcoming funding silos and fragmentation with increased transparency. The level and intensity of collaborations and form of gatherings, through meetings, knowledge products, and a possible framework, would be adjusted based on the preferences of the engaged partners.
What motivates donor investments in statistics? What emerging trends shape data financing? How can partnerships and collaboration drive improved outcomes? To bolster national data and statistical systems, investments need enhanced coordination, predictability, and alignment with country priorities.
Amidst the growing demands for increased and improved funding for data and statistics, and in light of the new global framework of priorities outlined in the Cape Town Global Action Plan for SDGs and secured political momentum for data through the UN High Impact Initiative’s Power of Data, this commitment seeks to reignite efforts for financing data and ensure smart investments for global action stay on the sustainable development agenda while harnessing ongoing initiatives.
The UK FCDO, alongside its partners, will spearhead the coordination of a collaborative effort aimed at achieving smarter data financing. This initiative will provide a chance to come together to look ahead, share planning for future investments, fostering discussions on emerging trends, sharing best practices, and aligning future priorities for more effective donor engagement. Led by the UK FCDO, this initiative will offer regular opportunities for engagement, expanding in response to growing demand.
Rather than duplicating existing initiatives, the aim is to ensure that smart investments in data remain a focal point, fostering mutual accountability and building on existing momentum until 2030. It will build the political momentum successfully brought forth by UN High Impact Initiative’s Power of Data and reinforce established consensus on smart data financing practices through the Bern Principles. Activities will be determined and co-created by the engaged partners and may include virtual roundtable discussions and the development of a shared framework or list of priorities to guide our collective efforts.
Now, more than ever, this work is crucial as we navigate the remaining period of the SDGs and shape the outcomes of the UNWDF, particularly the new Cape Town Global Action Plan. While donors can achieve progress individually, the collective strength lies in working together, turning dialogue into tangible action, and amplifying the impact of existing initiatives.
The success of this commitment will be evaluated by the number of donors and partners that express interest as well as the level of demand for certain activities such as knowledge products, white papers, and eventually framework for coordination.