Joint Statement: Principles for Financing Universal Social Protection
Universal social protection is an essential means to prevent and reduce poverty and inequality and is at core of the social contract that connects the state with the society, contributing to more inclusive, equitable, stable, and peaceful societies. With the ongoing economic effects of COVID-19, the unfolding cost of living crisis, and the ever-growing impacts of climate breakdown the need for social protection has never been greater. And yet large and entrenched coverage gaps remain, with a lack of available and accessible financing a major bottleneck in achieving universal social protection. In light of this challenge the USP2030 working group on financing has jointly agreed the following key principles to guide the international and national financing of social protection;
- The financing of social protection should take a rights-based approach and be guided by international social security standards.
- The State is the key actor for social protection financing and implementation with six key priorities outlined for domestic resource mobilization.
- International resources should support the expansion of social protection systems in countries with limited fiscal space.