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A Global Green New Deal – new UNCTAD report outlines a financing plan

Bodo Ellmers, Maria Romero

10 Oct 2019 11:21:59

The debate about a Green New Deal has recently been reinvigorated in both sides of the Atlantic. In Europe, the Green New Deal is part of the priorities of the European Commission’s President-elect Ursula von der Leyen. And at the UN in New York last month, sustainable development was featured in a series of global Summits, including the Climate Action Summit. In response, UNCTAD used the momentum to  launch the 2019 edition of the Trade and Development Report (TDR) which analyses the new deal from a financing perspective, identifies constraints and outlines innovative financing options.  Urgent need for more and better development finance  The new report comes at a time when neither the implementation of the 2030 Development Agenda nor the Paris Climate Agreement is on track. ...

blog
Will the new Commissioner for International Partnerships adopt a more cautious approach towards blended finance?

Jan Van de Poel, Nerea Craviotto

08 Oct 2019 15:24:10

Earlier this week, Members of the European Parliament had the opportunity to hear the Commissioner-designate for ‘International Partnerships’, a crucial step before she can be formally appointed by the Council later this month. In her statement to MEPs, former Finnish finance minister Jutta Urpilainen committed to focus on meeting the SDGs, reducing inequalities and eradicating poverty. To achieve these ambitious objectives, Urpilainen stressed the need to put a stronger focus on ‘leveraging private capital’ as ‘traditional measures of aid delivery are not enough’. The EU has been using various instruments to crowd in private finance in its development efforts for a number of years now even though there is no established evidence of their positive development impact. The ...
Cracks in the broken tax system exposed as the European court rules that a tax deal between Luxembourg and Fiat was illegal state aid, while another between the Netherlands and Starbucks was not. In reaction to the ruling, Eurodad's tax coordinator, Tove ...

blog
A new European Commission: What are the implications for Development Finance in the next five years?

Following the European elections in May, former German defence minister Ursula von der Leyen has assumed the role of President-elect of the European Commission. In July, von der Leyen, the first woman to take this post, released a concept paper titled “A Union that strives for more” and on Tuesday this week she unveiled the names of the new Commissioners.  And with these releases, the policy agenda of the next European Commission, mandated to govern until 2024, is slowly taking shape. In response, we ask what are the implications for development finance?    Sustainable financing for sustainable development?  Sustainable development rhetoric scores highly on von der Leyen’s policy agenda, but the devil lies in the detail. The concept paper outlines “a strategy for ...

blog
UN Independent Expert links International Financial Institutions’ austerity push to Human Rights impacts

Gino Brunswijck

12 Sep 2019 13:00:36

This week, the UN Independent Expert on Foreign Debt and Human Rights, Juan Pablo Bohoslavsky, released a report on the role of International Financial Institutions (IFIs) in imposing economic reforms that violate human rights. In particular, the report highlights how widespread promotion of austerity measures has had an adverse effect on human rights impacts in a number of countries. The document is due to be presented to the UN General Assembly in October, In line with Eurodad findings, the Independent Expert questions the basic assumptions used to justify the introduction of austerity measures. Rather than contributing to economic growth, they tend to aggravate economic recession, worsening debt ratios and inequality. The IFIs widely prescribe such policies through lending and attached conditionalities, ...

press
Eurodad response to International Consortium of Investigative Journalists' #MauritiusLeaks

Today, the International Consortium of Investigative Journalists released another ground breaking tax exposure. The #MauritiusLeaks show how multinational corporations from all over the world have used Mauritius to avoid taxes, including on their own operations in some of the world’s poorest countries. Reacting to the leaks, Tove Maria Ryding, Tax Coordinator at the European Network on Debt and Development (Eurodad), said: “#MauritiusLeaks is yet another shocking example of large-scale international ...

blog
Building political momentum will be crucial for the way forward — Global Partnership on Effective Development Cooperation Senior Level Meeting

Nerea Craviotto

22 Jul 2019 18:53:27

In this short blog, Eurodad looks back at the past senior level meeting (SLM) of the Global Partnership for Effective Development Cooperation (GPEDC), a multi-stakeholder platform established to make sure all development actors deliver on their commitments to ensure development cooperation is really eradicating poverty and bringing about sustainable development. The 1st SLM of the GPEDC was a good opportunity to discuss progress (or lack thereof), best practices and informing participants about the way forward. Yet, in order to achieve real progress in meeting Development Effectiveness Principles, building political momentum, which may be waning, will be crucial in the months to come. By Nerea Craviotto Ortega and Jan Van de Poel Last weekend – 13-14 July – the Global Partnership for Effective ...