The recovery and return of stolen assets has been referenced in Financing for Development outcomes since the Monterrey Consensus, and has been identified in the Addis Ababa Action Agenda as a crucial element towards the financing of the 2030 Agenda for Sustainable Development.
The Addis Agenda specifically:
- Encourages the international community to develop good practices on asset return
- Supports the Stolen Asset Recovery Initiative of the United Nations and the World Bank, and other international initiatives that support the recovery of stolen assets
- Commits Governments to work to strengthen regulatory frameworks to increase transparency and accountability of financial institutions, the corporate sector and public administrations
The Stolen Asset Recovery (StAR) Initiative, a joint project of the World Bank Group and UNODC, promotes implementation of Chapter V of the United Nations Convention Against Corruption (UNCAC). StAR is currently conducting a new survey on international asset recovery efforts in corruption cases. The study aims to collect data on global progress in international efforts to recover and return proceeds of corruption in a systematic and internationally comparable way. Better data on corruption-related asset recoveries and returns worldwide is needed to promote the timely return of proceeds of corruption; identify trends in asset recovery practices and volumes; provide an evidence base for policymaking; promote transparency and accountability in international asset recovery; and measure progress towards commitments. More specific recommendations in the area of asset recovery are also being distilled from the second cycle of peer reviews under the UNCAC Implementation Review Mechanism, which is currently in progress.