A/HRC/34/27 D. Challenges to protecting child rights in the implementation of the 2030 Agenda 43. A number of wider challenges at both global and national levels risk compromising the realization of children’s rights and must be taken into consideration. For example, the global impacts of climate change and natural disasters are increasing in frequency and intensity, and children suffer the consequences of this disproportionately due to their particular life stage and heightened physical vulnerability. 15 Similarly, children living in situations of conflict or humanitarian crisis are at heightened risk of being subject to violence and multiple further rights violations, and migration linked to conflict and humanitarian crises worldwide places children and their families on a precipice, with children potentially facing separation from their caregivers, economic insecurity, marginalization and discrimination. 44. Financial crises, economic recession and associated austerity measures have had a major impact on children and pose an ongoing risk to rights-based implementation of the 2030 Agenda. In accordance with the principle of non-retrogression and State obligations under article 4 of the Convention on the Rights of the Child, States should not take retrogressive measures or allow the existing level of enjoyment of children’s rights to deteriorate in times of economic crisis. In addition, private actors including business, have the potential either to support or undermine child rights-based implementation of the 2030 Agenda. Business activities that do not respect children’s rights pose a risk, including in the case of business enterprises that have adverse impacts on the livelihoods and rights of local and indigenous communities, or on the environment. In addition to the challenges noted here, other circumstances particular to different national contexts have the potential to pose risks and barriers to the implementation of the 2030 Agenda in a manner in which child rights are protected. V. A child rights-based approach to financing and investment in the implementation of the 2030 Agenda 45. Insufficient public spending on children which is not adequately inclusive is a central barrier to the realization of the rights of the child. Sustainable, equitable and broadbased investment in children is essential to fulfil the obligations of States to implement their rights, as are the relevant commitments contained in the Addis Ababa Action Agenda of the Third International Conference on Financing for Development and throughout the 2030 Agenda, including its vision of “a world which invests in its children”. This is consistent with the obligation for States under article 4 of the Convention on the Rights of the Child to dedicate the maximum available resources to investment in children. As is further elaborated in the general comment No. 19 (2016) of the Committee on the Rights of the Child on public budgeting for the realization of children’s rights and in Human Rights Council resolution 28/19, States must ensure effective, efficient, equitable, transparent and sustainable public budget decision-making to realize all children’s rights, especially for those in vulnerable situations. Mobilizing adequate international and domestic resources and combating corruption 46. Domestic resource mobilization is a key source of revenue for implementing the 2030 Agenda and, as set out in target 17.1, States should mobilize domestic resources 15 12 See UNICEF Office of Research, The Challenges of Climate Change: Children on the Front Line (Florence, 2014).