The United Nations General Assembly Second Committee, also known as the Economic and Financial Committee (ECOFIN), is one of the six Main Committees of the United Nations General Assembly. It is purposed to “promote international co-operation in the economic field,” as outlined in Article 13 of the UN Charter.
According to its mandate, ECOFIN targets mainly at the growth, development, and sustainability of the economy conditions of the Member States, and functions primarily to discuss and consider all relevant global economic and financial issues such as macroeconomic policies, international trade; financing for development, sustainable development, agriculture development, information and communications technologies for development; external debt sustainability, globalization and interdependence, eradication of poverty, and human settlements.
The Second Committee also aims to further explore and assist regional groupings of nations in special situations. Aside from general classes of nations, ECOFIN attaches great importance to specific classes of nations such as Least Developed Countries (LDCs) and Landlocked Developing Countries (LLDC), for these nations with long-term structural handicaps are more heavily exposed to severe economic and natural shocks. They are particularly vulnerable to various threats related to climate change like increased floods and droughts. In addressing the tasked issues, ECOFIN could make recommendations, initiate studies and submit draft conventions to the General Assembly, but just like all other GA committees, ECOFIN is not allowed to impose or implement any decision. Depending upon the topics under discussion, ECOFIN has to coordinate with other committees such as The United Nations Environment Programme (UNEP), The United Nations Development Programme (UNDP), and The United Nations Office on Drugs and Crime (UNODC). It also has to collaborate with international organizations such as, but not limited to The World Trade Organization (WTO), The International Monetary Fund (IMF), The World Bank Group (WBG), The International Labour Organization (ILO), The Global Migration Group (GMG), and The International Organization for Migration (IOM) to tackle the concerned issues in a more comprehensive manner.
The historic passing of the Paris Agreement in 2015 has marked a monumental change in the combat against global warming. For the first time, both developed and developing countries agreed to stand together to face the challenge of climate change. In fact, climate change-induced extreme weather and sea level rise is now a global phenomenon, and threatens nations across the world from drought-plagued America to the sinking Pacific Nations. Environmental disasters have caused millions of people to be involuntarily displaced, creating thousands and millions of “climate refugees.” Nation that has experienced an environmental disaster requires a prolonged period of time as well as copious amounts of funding to rehabilitate — leading to many societal and economic changes, whether it be positive or negative. In some cases, countries do not possess the economic abilities to cover all rehabilitation expenses. Therefore, this is an issue that requires the whole international community to come forth and resolve together. Delegates are expected to consider both environmental and economic aspects of this issue to come to consensus on international measures to better protect the victims of climate change and uphold humanitarian standards.
I’m Harry, the chair of ECOFIN this year, and I’m honored to see all of you here. I have participated in NMUN in New York this year, WorldMUN in Italy last year and PAMUN twice.
Being a mechanical engineering sophomore in NTU, I can confirm that the thirst of knowledge and participation in world events transcend majors. As long as you’re interested in further understanding the world, with all the fascinating diversities it holds, believe me, you’ll end up loving it!
2016 PAMUN ARF oral recognition
2017 PMUN WHO outstanding delegate
2017 MyWHO delegate
Warmest greetings to all. I’m the assistant chair of the ECOFIN committee for 2017 NTCMUN, Tiffany Wang. I am currently a first year medical student studying in National Yang-Ming University. Please kindly allow me to briefly introduce myself. I have always paid extra attention to scientific issues. Medical, public health, and related fields like environmental changes have always been intriguing to me. Thus, this year, I look forward to in-depth discussions during the upcoming ECOFIN conference. Sure enough that there are more to come, and I genuinely look forward to meeting all of you.
EMUN 2014/ ECOSOC/ Best Public Speaker
EMUN 2015/ HRC/ Outstanding Delegate
DYNAMUN 2015/ UNOOSA/ Oral Recognition
THMUNC 2015/ SOCHUM/ Best Delegate
CTMUN 2015/ SPECPOL/ Oral Recognition
DYNAMUN 2016/ HRC/ Co-chair
SKMUN 2016/ Security Council/ Best Position
NTMUN 2016/ Best Delegate
CENTMUN 2016/ UNODC/ Chair
TCMUN 2017/ ECOFIN/ Oral recognition
FONGMUN 2017/ UNEP/ Chair
DYNAMUN 2017/ SOCHUM/ Director
Greetings, delegates. I’m Sidney Tsai, a 10th grader studying at Ginling Girls’ High School, and it is my absolute honour to be serving as your co-chair for ECOFIN in NTCMUN 2017. I’ve been avidly participating in MUN for 4 years now and words cannot describe how much of an impact it has had on my life. MUN aside, I enjoy watching lame horror movies, doing volunteer work, and spending an unnecessary amount of time on the internet watching cute animal videos.
I am dedicated to making sure all delegates have an unforgettable time at NTCMUN!
See y’all soon!
Hello this is Charlotte! I am recently a 10th grader of Taipei First Girl’s High School, my favorite singer is Ed Sheeran, I love reading novels , especially fictions. I am also good at dancing, such as ballet, and locking. I love to play guitar and piano in my free time. Last but not least, I am definitely a munaholic. I have already been to 7 MUN conferences, but NTCMUN will be my 10th conference. This is my first time chairing, so I am excited to meet you all! Welcome to ECOFIN and have 2 awesome days!