Member organizations of the Global Coalition for Social Protection Floors collectively advocate for strategic utilization of financial resources from this Fund. A central concern is to specifically allocate fund resources for the establishment and fortification of right-based Social Protection Systems. These systems play a pivotal role in mitigating the catastrophic consequences of climate change and adequately cushioning individual damages and losses, while contributing to increase resilience and improve adaptation.
As the end of 2023 approaches, 136 countries are considered to be in a critical debt situation. At the same time, fiscal space has been reduced, leading many, including governments, UN agencies and some international NGOs, to point to debt swaps as an innovative solution for tackling sovereign debt problems, while also generating resources for the Sustainable Development Goals (SDGs) or climate action. Therefore, debt swaps, while not new, are gaining increasing attention in international development and climate forums, particularly due to the proliferation of so-called “debt-for-nature swaps”.
Read the new report by Eurodad and others
A historic tax resolution tabled by the Africa Group was adopted at the UN General Assembly, kickstarting an intergovernmental UN tax process to negotiate a new UN Framework Convention on International Tax Cooperation.
Historic tax vote paves the way for a UN Tax Convention – Eurodad
More than 550 economists, development and climate experts including leading economists Yanis Varoufakis, Thomas Picketty, Jayati Ghosh, Ann Pettifor and Jason Hickel, philosopher Olufemi Taiwo and climate activists Vanessa Nakate and Hilda Nakabuye, have signed an open letter calling for debt cancellation at COP28. The open letter also received support from almost 300 organizations worldwide, including some of the most relevant climate networks, development international NGOs and human rights organisations.1
The statement, coordinated by The Asian People’s Movement on Debt and Development, Latindadd, The European Network on Debt and Development (Eurodad) and Debt Justice, calls for cancellation of the debts of lower income countries on the front line of the climate emergency, and for rich countries to significantly increase levels of grant-based climate finance.
Read the statement
Many in the wealthy West have misrepresented the causes of global warming, offering false solutions while claiming the high moral ground. This distracts attention from how they became wealthy while emitting greenhouse gases.
Article by Jomo Kwame Sundaram and Yin Shao loong
An ILO conference adopted a declaration committing to enhance action towards the development and implementation of national policies to reduce and prevent inequalities in the world of work, through social dialogue. Such policies will respond to national circumstances, needs and priorities, based on tripartite consensus.
ILO-AICESIS International Conference: Social dialogue institutions pledge to tackle inequalities in the world of work
- Carbon emissions of richest 1 percent surged to 16 percent of world’s total CO2 emissions in 2019.
- Their carbon emissions are enough to cause 1.3 million excess deaths due to heat.
- Unequal countries suffer seven times more flood fatalities than more equal countries.
- Fairly taxing the super-rich would help curb both climate change and inequality.
A message from Oxfam International
In recent decades, failure to sustain economic progress has been blamed on a supposed middle-income country (MIC) trap. Such blaming obscures as much as it supposedly explains.
Article by Jomo Kwame Sundaram:
A new Eurodad study:
“Since 2018, temporary rules have allowed donor countries to report private-sector oriented operations, known as Private Sector Instruments, as official development assistance. In this report, we chart the increased use of such operations, highlight problematic gaps in transparency and accountability, and end with recommendations both for the OECD DAC and wider civil society.”
Aid under threat: The shadowy business of private sector instruments – Eurodad
Yesterday, the Institute for Policy Studies published a new report: The True Cost of Billionaire Philanthropy. The findings are alarming – and concerning.
Despite the time and energy the billionaire donor class spends touting their charitable contributions, too many are moving their wealth to donor-controlled intermediaries instead of active charities. They use these donations to enhance their public image, grow political power, and even protect their financial assets.