As the world becomes more interdependent, global governance, including global economic governance and the governance of the global commons, is increasingly relevant for achieving sustainable development. Deepening economic globalization, and increasing migration, trade and capital flows, climate change, as well as an increased activities in the global commons - those resource domains that do not fall within the jurisdiction of any one particular country, and to which all nations have access- make individual States more susceptible to policies adopted by others.
The new global partnership for development adopted in the Agenda 2030 for Sustainable Development provides an opportunity to address these global economic, social and environmental issues in a coordinated, coherent and collaborative manner. In this context, the global partnership can promote a more effective, coherent, representative and accountable global governance regime, which should contribute to the realization of the sustainable development.
The transition to global sustainable development has not been successful yet. Economic and social development has seen progress, but numerous challenges remain, while global environmental problems have become even more acute. The sharp increase in trade and capital flows make global economic governance increasingly relevant for development. However, gaps in the international trade, finance and technology regimes have reinforced rather than curbed global imbalances.
Achieving a more enabling and inclusive system of global economic governance will therefore be critical to overcoming these shortcomings and to enabling sustainable development. On the other hand, having a strong and effective United Nations is a critical common goal of the international community, bearing in mind that the United Nations is the only truly universal and inclusive multilateral forum.
Gaps in the global governance regime also make further progress in social development more difficult. These include the absence of adequate mechanisms to regulate the movement of workers between countries, and weak protection of the rights of migrants and their families, as well as restricted access to technologies in health, agriculture and other relevant areas.
On the other hand, the governance of the global commons represents a specific aspect of global environmental governance. Stewardship of the global commons cannot be carried out without global governance. Global commons have been traditionally defined as those parts of the planet that fall outside national jurisdictions and to which all nations have access.
International law identifies four global commons, namely the High Seas, the Atmosphere, the Antarctica and the Outer Space. These resource domains are guided by the principle of the common heritage of mankind. Resources of interest or value to the welfare of the community of nations - such as tropical rain forests and biodiversity - have lately been included among the traditional set of global commons as well, while some define the global commons even more broadly, including science, education, information and peace. The implementation of the common heritage principle and common responsibilities relates directly to the four key enabling factors which have been identified as cornerstone of the Agenda 2030 for Sustainable Development: inclusive social development, inclusive economic development, environmental sustainability and peace and security.