Financing for Development. Re-commit to the Sustainable Development Goals by OHCHR, Amnesty, UNICEF, agencies   Financing for Development Summit must address Social Dimensions, by Sakiko Fukuda-Parr and Isabel Ortiz. (IPS News)   The Fourth International Conference on Financing for Development (FfD4) will bring world leaders together to forge a new international consensus on how to finance a better future for all. Yet, in practice, the first drafts of its outcome reveal a glaring omission: people.   Despite rhetoric about inclusivity, the drafts are strikingly weak on social issues, as if financing and macroeconomic policies exist in a vacuum, detached from the lives they impact.   This is not just an oversight—it’s a continuation of a decades-long mistake in economic policymaking, where abstract macroeconomic principles have been always prioritized over human welfare, inflicting suffering on billions.   “Must we starve our children to pay our debts?” asked Julius Nyerere, former president of Tanzania, in the 1980s. Today, 3.3. billion people live in countries that spend more on debt service than health and education, and 6.7 billion endure austerity cuts. For too long, neoliberal economic policies have treated people as an afterthought.   While trillions of dollars have been funneled to creditors and corporations, macroeconomic stability and debt service have been pursued at the expense of the poor and the shrinking middle and working classes.   In recent years, billions of lives were upended by budget cuts: reduced pensions and social protection benefits; lower salaries; less access to health and education; cuts to programs for women, children, the elderly, persons with disabilities.   Labor and corporate regulations were dismantled in the name of growth, job security eroded, consumption taxes rose, increasing prices and further squeezing household incomes. It is hardly surprising that social discontent and political instability are increasing.   The FfD4 outcome risks perpetuating this terrible legacy. While drafts pay lip service to social issues, they generally fail to incorporate them in the recommendations of each of the main sections: domestic public finance; private finance; development cooperation; trade; debt; international financial architecture and systemic issues; science, technology, data and monitoring.   Notably, the main beneficiaries of the private finance section are foreign investors and corporations.   The time for excluding people is over. The FfD4 must put people at the center of its agenda to avoid repeating the mistakes of the past and becoming irrelevant. Governments and international institutions must recognize that macroeconomic and financial decisions have profound social impacts—and act accordingly.   The final outcome should include commitments to:   1. Domestic public finance expenditures: Prioritize universal social protection or social security, quality education health, water, and other basic economic and social rights. Adequate financing for these priorities must be integrated into national development plans and budgets, with guarantees against retrogression or backsliding during crises, in accordance with human rights and labor standards.   Austerity cuts are not an option. Social insurance, a key element of social security, has its own funding mechanism, employers’ and workers’ contributions (so far ignored by the FfD4 drafts), that must be set at adequate levels, especially raising corporations’ contributions to make social security sustainable, combined with the formalization of workers in the informal economy to ensure decent jobs with social security, and expand coverage.   2. Domestic finance revenues: Introduce more progressive taxation with effective international tax cooperation. Revenue raising is essential for social priorities but should not rely on taxation of those with lower incomes – such as consumption tax – but on those with the means – such as taxes on wealth, windfall profits and corporate income.   End loopholes by eliminating tax havens and illicit financial flows, as well as by adopting the UN Framework Convention on International Tax Cooperation to stop corporate tax dodging.   Gender-responsive budgets must be implemented to ensure that both revenues and expenditures accrue to women – half of the world’s population.   3. Private finance: Ringfence social infrastructure and services from private financing. Privatization and Public-Private Partnerships (PPPs) of public services have repeatedly failed, leading to higher costs, reduced access, and poorer services.   Public investment, not privatization, is the key to equitable and resilient social systems. Mandate human rights due diligence for private investors (binding rules, not voluntarism), with accountability, enforcing penalties for private actors that undermine labor/environmental standards.   4. Trade: Allow policy space to Global South countries to protect local industries and food sovereignty, and subject trade agreements to social impact assessments (SIAs) to evaluate their effects on employment, inequality, gender, and access to goods and services.   Abandon investor-state dispute systems (ISDS) that override public interest. Trade policies must maximize social benefits and mitigate adverse impacts.   5. Debt: Establish a fair and transparent UN debt workout mechanism to effectively reduce illicit sovereign debts and incorporating human rights into Debt Sustainability and Debt Restructuring Assessments, ensuring that debt service does not result in social spending cuts.   6. Technology: Tax Big-Tech and address the negative social impacts of Artificial Intelligence (AI), such as job displacement and wealth concentration. Adequate social protection measures must be enacted for those affected by job losses, and AI-driven profits must be taxed to redistribute benefits back to society.   7. International financial architecture: Reform the International Monetary Fund (IMF) and Multilateral Development Banks (MDBs) to shift voting power to Global South and to end their support to austerity policies: The IMF as well as the MDBs must stop promoting regressive reforms and austerity measures that harm people.   Adjustment programs, as well as surveillance policy advice, often cut/rationalize necessary benefits for women, children, persons with disabilities, pensioners, and the unemployed, just for cost-savings, leaving only a minimal safety net for the poorest.   These measures violate human rights law, including labor standards, approved by all countries: the IMF and the MDBs should align themselves with them.   Additionally, a fairer and periodic distribution of IMF Special Drawing Rights should be allowed, without policy conditionalities, to fund human rights and sustainable development goals (SDGs).   8. Data, monitoring and follow-up: Strengthen data systems to assess the social impacts and distributional effects of financing policies. This includes disaggregated data by, at least, gender and income group. If analysis reveals that the majority of people are not the primary beneficiaries or that human rights are undermined, policies must be revised to ensure equitable development.   The FfD4 outcome is an opportunity to correct the mistakes of the past. Governments must recognize that financing for development is not just about balancing budgets or stabilizing economies —it’s about improving citizens’ lives. If the outcome document fails to prioritize social issues, it will not only betray the promise of the financing for development process but also perpetuate current systemic inequalities.   * Sakiko Fukuda-Parr is Professor of international Affairs at The New School in New York, is a former director at the United Nations Development Program (UNDP). Isabel Ortiz is Director of the Global Social Justice, and a former director of the International Labor Organization and UNICEF, and a former senior official at the United Nations and the Asian Development Bank.   http://www.ipsnews.net/2025/04/financing-financing-development-summit-must-address-social-dimensions/ http://www.srpoverty.org/2025/03/12/joint-call-with-ituc-for-a-global-fund-for-social-protection-and-strengthened-international-commitments-at-ffd4/ http://www.srpoverty.org/2025/02/11/joint-statement-a-call-for-action-on-financing-social-protection/ http://www.srpoverty.org/2025/01/17/financing-social-protection-floors-contribution-of-the-special-rapporteur-to-ffd4/ http://reliefweb.int/report/world/human-cost-public-sector-cuts-africa-april-2025 http://actionaid.org/publications/2025/human-cost-public-cuts-africa http://peopleoverprof.it/resources/publications/financing-a-public-future?id=15897&lang=en http://csoforffd.org/   http://www.srpoverty.org/2024/10/17/statement-international-financial-system-not-fit-for-purpose-to-address-catastrophic-debt-crisis-un-poverty-expert/ http://www.cesr.org/leading-voices-call-for-a-new-development-human-rights-centered-approach-to-sovereign-debt-at-paper-series-launch/ http://iej.org.za/category/resourcing-for-rights-realisation/resourcing-for-rights-realisation_debt-justice/ http://www.ohchr.org/en/statements-and-speeches/2025/02/asg-brands-kehris-current-international-debt-architecture-unfair http://www.icrict.com/presse/its-time-to-tax-power-icricts-message-at-the-vatican-with-pope-francis/ http://tinyurl.com/y45jmkdd http://www.unaids.org/en/resources/presscentre/featurestories/2025/march/20250320_debt-crisis http://debtjustice.org.uk/press-release/lower-income-country-debt-payments-hit-highest-level-in-30-years http://www.ipsnews.net/2025/01/developing-countries-choked-debt-year-breaking-free/ http://cafod.org.uk/campaign/the-new-debt-crisis http://www.eurodad.org/g20_imf_world_bank_fail_debt_crisis   25 Apr. 2025   Rescuing the SDGs: Plenty of Resources, Lack of Will. (Amnesty International)   Years of underinvestment by all states mean the majority of the Sustainable Development Goals (SDGs) are way off track from their 2030 targets.   The Fourth Conference on Financing for Development (FfD4) to be held in Seville, between 30 June and 3 July 2025, provides a significant opportunity to both re-commit to the SDGs and ensure the resources are provided to achieve them.   “The Sustainable Development Goals represent a bold vision: a commitment to a better, healthier, safer and more prosperous and sustainable future. But the Goals are facing massive headwinds. More than 4 out of 5 SDG targets are off track. On top of the impacts from a global pandemic, many countries are being crushed by massive debt burdens, limited liquidity and sky-high borrowing costs. Conflicts, hunger, inequalities and the climate crisis are all intensifying. The world has the wealth, the technology, and the know-how to achieve the SDGs… there is no excuse.” - Antonio Guterres, UN Secretary General   “We cannot afford a retreat from multilateral cooperation. These global challenges far exceed the capacity of any single state to respond. They can only be effectively addressed through a strong commitment to multilateralism, international cooperation and global solidarity based on mutual respect, shared responsibility, and collective action.” - Draft FfD4 outcome document, para 4.   INTRODUCTION   The world is beset by multiple crises including widescale humanitarian emergencies and increasing global inequality both between and within countries exacerbated by the United States’ decision in April 2025 to impose severe global tariffs, with more threatened, many hitting some of the poorest and most vulnerable countries hardest.   The cataclysmic impacts of the climate crisis are being felt across the planet often in those low-income countries which have contributed the least to the carbon emissions driving global warming.   The global rise of authoritarian practices is undermining previous commitments to multilateralism and international cooperation and eroding the potential for collective action towards a common good.   Yet precisely at this moment when the world needs to come together to address these myriad disasters, we are witnessing higher-income states reneging on their international human rights obligations and other international commitments such as the Sustainable Development Goals (SDGs).   For example, the recent decisions by the USA and other governments to slash vitally needed international development assistance stands to have catastrophic consequences on human rights. Such retrenchment could not come at a worse time.   Years of underinvestment by all states mean the majority of the SDGs are way off track from their 2030 targets. For example, it is estimated that 585 million people will still face hunger at the end of the decade, despite commitments by governments to ensure there is zero hunger by this date.   The Fourth Financing for Development (FfD4) Summit to be held in Seville between 30 June and 3 July 2025 provides a significant opportunity to both re-commit to the SDGs and ensure the resources are provided to achieve them. The gathering, which last took place a decade ago, will be attended by government leaders, together with international and regional organizations, financial and trade institutions, businesses and civil society.   Beginning in Monterey, Mexico in 2002 the conferences aim to address the financing of global development and key related issues. The outcome of the first conference resulted in a landmark global agreement between developed and developing countries, in which both recognized their responsibilities in key areas such as trade, aid, debt relief and institution building.   As elaborated in its draft outcome document, this Summit has bold ambitions to bolster financing at all levels, including reform of international financial architecture. The current system is rooted in historical inequalities and the continuing legacy of colonialism, which leaves many low-income countries with unsustainable debt and without the resources they need to progress towards the SDGs.   “We commit to reform the international financial architecture, enhancing its resilience and effectiveness in responding to present and future challenges and crises. To better reflect today’s realities, we commit to make global governance more inclusive and effective. We acknowledge the important role of the United Nations in global economic governance, recognizing the complementary mandates of international organizations, that make the coordination of their actions crucial.” - Draft FfD4 outcome document para 6   These ambitious aims cannot be met without real commitments, concrete action and sufficient resources from both states and others including international financial institutions.   All governments attending the Summit, including those that benefit from the current unfair and unequal global economy, must confront both the immediate crisis linked to the cutting of international assistance by major donors, as well as commit to structural reforms that could provide sustainable sources of financing for the longer term – from advancing international tax cooperation and addressing the debt crisis, to reforming international financial institutions to promoting more inclusive systems of financing and development.   If governments step up, FfD4 has the potential to be a springboard for salvaging the SDGs and averting climate catastrophe. In turn, this will guarantee the human rights of billions of people currently being denied socio-economic and climate justice. This briefing sets out the need to significantly increase spending on the SDGs and proposes different measures to achieve this through fiscal reforms and responsible development financing.   THE SDGS ARE WAY OFF TRACK WITH ONLY FIVE YEARS LEFT TO 2030   "Our failure to secure peace, to confront climate change and to boost international finance is undermining development. We must accelerate action for the Sustainable Development Goals - and we don’t have a moment to lose.” - Antonio Guterres, UN Secretary General   The 17 SDGs with their 169 targets were agreed by governments in 2015 to replace the Millenium Development Goals (MDGs) with an implementation deadline of 2030. In aspiring to “leave nobody behind” their ambitious aims include eradicating poverty, ending world hunger, sustainable management of water and sanitation for all, and reducing inequality within and among countries.   All of these are inextricably linked to states’ human rights obligations to guarantee economic, social and cultural rights. In addition, the Goals, particularly through Goal 16, also address governance and related civil and political rights issues such as the rule of law, access to justice and freedom of information emphasizing the interdependence and indivisibility of all rights.   Yet two thirds of the way towards 2030, the SDGs are widely off track. At the mid-way point of the SDGs, in July 2023, the UN reported that progress on more than half of the SDGs was “weak and insufficient,” while for another 30% it had “stalled or gone into reverse”.   These include key targets on poverty, hunger and climate. According to the latest report by the UN Secretary General, in May 2024 only 17% of SDGs targets were on track to be achieved, nearly half were showing minimal or moderate progress, and progress on over a third had stalled or even regressed.   Based on these current trends, by 2030 585 million people will be chronically undernourished, 575 million people will still be living in extreme poverty, 84 million children will be out of school, 300 million attending school will leave unable to read and write and 660 million people will remain without electricity.   MASSIVE FUNDING SHORTFALLS   Despite their critical importance, it is not surprising that progress towards the SDGs has been so slow when recent estimates by the UN Agency for Trade and Development (UNCTAD) are that the annual SDG investment gap in low- and middle-income countries – from public and private sources – now stands at about US$4 trillion, compared to US$2.5 trillion before the Covid-19 pandemic exacerbated the deficit.   While a huge sum, according to research by UBS bank, this equates to less than 1% of the estimated total global private wealth of US$454 trillion – over 45% of which is controlled by the richest 1.1% of the world’s population.   UNCTAD estimates that over half of the US$4 trillion needed - US$2.2 trillion – is required to invest in clean energy, while US$500 billion is required for water and sanitation, US$400 billion in non-energy infrastructure, US$300 billion for food and agriculture, US$300 billion for biodiversity and between US$100 billion and US$600 billion for health and education.   Recognizing this investment gap, in February 2023 the UN Secretary General launched the SDG Stimulus to try and boost progress by: Tackling the high cost for many countries, particularly middle- and low-income, of servicing state sovereign debt; and being in debt distress (the inability to meet debt obligations). Scaling up affordable and long-term financing for development. Expanding contingency financing to countries in need.   Yet over two years later, and despite subsequent initiatives such as the Summit and Pact of the Future at the 2024 UN General Assembly, there is a chronic lack of progress – and even reversals in some of these areas, which stands to be exacerbated by abrupt and sweeping development aid cuts and tariff hikes which could disproportionately harm the poorest countries.   IMPACT OF FREEZING AND CUTTING DEVELOPMENT AID   “In the past, we had to cut food aid to people who were hungry but not yet starving. Now we’re forced to cut assistance even for those facing starvation. That means people will die.” - Carl Skau, UN World Food Programme Deputy Executive Director   Against this backdrop, the recent decisions of the US and other governments to significantly cut overseas development aid is particularly shocking.   In February 2025, the US government announced it would be cutting 83% of USAID contracts sending a shockwave through the humanitarian and aid world. In 2024, the US government spent US$59 bn in overseas aid. The UK government quickly followed suit by deciding in February to cut its overseas aid budget by £6.1 billion (US$7.9 billion) in order to increase defence spending, reducing its spending from 0.5% of GDP to 0.3% by 2027. France also slashed €2 billion (US$2.27 billion) of development aid from its 2025 budget while the outgoing German government had planned to cut €900 million (US$1.02 billion), though this has yet to be confirmed. Other governments that have either cut or planning to do so include Belgium, Denmark, the Netherlands, Norway and Sweden.   The impact of those cuts that have been implemented is already putting the health and lives of millions of people in vulnerable situations across the world at risk.   The impact of hollowing out USAID has been particularly consequential given that the United States is historically the biggest donor of humanitarian aid by far, especially in terms of food provision.   The UN World Food Programme (WFP) has stated that cuts in its food aid to Somalia will push an estimated 4.4 million people into malnutrition because of drought, global inflation and conflict with many literally starving to death. The WFP has already had to halve food rations for Rohingya refugees in Bangladesh with similar cuts for refugees in Kenya.   USAID cuts to HIV and AIDS programmes will also be devastating. UNAIDS estimates that globally by 2029, there could be 8.7 million people newly infected with HIV, a tenfold jump in AIDS-related deaths – to 6.3 million – and an additional 3.4 million children made orphans. It is estimated that the cuts could result in more than 500,000 deaths over the next 10 years in South Africa alone.   Beyond the impact of the HIV programme, funding for labs and emergency-response preparedness in more than 30 African countries has been affected by USAID cuts. The decision could result in – a worst-case scenario – 28,000 new cases of infectious diseases such as Ebola and Marburg. Other predictions based on a leaked internal USAID memo include 18 million more cases of malaria with 166,000 deaths and 200,000 children paralyzed with polio.   Such decisions by higher-income states are in breach of their obligations and commitments to provide international cooperation and assistance to other states to meet their own human rights obligations.   UNLOCKING INVESTMENT IN THE SDGS AND CLIMATE ACTION   There are numerous options available to states and international financial institutions to significantly scale up funding and unlock greater investment where it is most needed to tackle global poverty, meet climate goals and progress the SDGs. These funds, if unlocked, must be accompanied by robust means of distribution to ensure that they are accessed by low-income countries.   Meeting existing commitments would be a start. States have long committed to providing 0.7% of gross national income (GNI) for Overseas Development Assistance (ODA), including 0.15% - 0.2% of GNI to least developed countries (LDCs), as stated in the 2015 Addis Ababa Action Agenda and elsewhere. If donor states met their ODA commitments, they would generate at least an additional US$197 billion aid assistance, between US$120.9 billion and US$150 billion of which would be destined for least developed countries.   Of course, while meeting ODA commitments is essential, there are other opportunities available to have an even greater impact. Pursuing measures to promote alternative sources of finance would be critical in reducing countries’ dependence on increasingly precarious and unpredictable ODA flows.   Debt relief, including cancellation and restructuring, is critical to enable lower-income countries to meet their social spending needs and related SDG targets. Many low-income countries continue to experience unsustainable levels of debt, with 48 countries spending more on debt repayments than on health and education.   The Debt Relief for a Green and Inclusive Recovery (DRGR) Project estimates that public and private creditors should grant debt relief of up to US$ 520 billion to 61 countries in or at risk of debt distress, in order to achieve debt sustainability.   There is a precedent for this as in 2000, following the Jubilee Debt Campaign, debts of US$130 billion were cancelled for 36 countries in debt distress.   Civil society organizations advocate for a UN Framework Convention on Sovereign Debt to address some of the systemic drivers of unsustainable debt. The Convention could provide for transparency, predictability, efficiency and cooperation among all countries around debt sustainability ensuring human rights are considered as primary over debt servicing.   Similar to debt relief in terms of providing liquidity, the International Monetary Fund (IMF) has issued special drawing rights (SDRs), an international reserve asset to supplement member countries’ official reserves. It last did so during the Covid-19 pandemic when it issued US$650 billion.   However, SDR allocations are currently distributed to IMF member countries relative to their IMF quotas, which are based on the relative size of their economies rather than need. Most of the 2021 allocation went to high-income countries, while just US$2 billion (3.2%) went to lower-income countries.   There have been multiple calls to issue SDRs annually and to allocate them more fairly.49 The UN Special Rapporteur on extreme poverty uses O’Hare and Hall’s estimates that US$175 billion of SDRs would have been allocated to low-income countries if distribution had been weighted by both population and need in 2021.   Significant amounts of money could also be generated to finance the SDGs from eliminating illicit financial flows which cost states US$492 billion annually - US$347.6 billion of which is lost to multinational corporations shifting profits to underpay taxes, while US$144.8 billion is lost to wealthy individuals hiding their wealth offshore. Nearly half of these tax losses are enabled by just eight countries opposed to a UN Tax Convention (Australia, Canada, Israel, Japan, New Zealand, South Korea, UK and USA).   In doing so, these states are violating their extra-territorial obligations to enable other states to generate the resources required to realize the human rights of their populations and meet the SDGs as well as undermining their own tax bases.   The world’s richest continue to benefit from inadequate taxation of their wealth and calls have been made including by the G20 for a wealth tax of 2% on the net wealth of billionaires and centimillionaires (wealth measured in US dollars). If this were to be realized, economist Gabriel Zucman, included in a paper commissioned by the G20 presidency, estimates that between US$300 billion and US$390 billion could be generated annually.   Similarly, significant amounts to finance the SDGs could be generated if states were to tax windfall profits – one-off taxes on companies or industries when economic conditions result in large, unexpected profits for those businesses.   In 2022, for example, Oxfam and ActionAid estimated that US$941 billion in revenue could have been generated from taxes on the windfall profits of 722 mega-corporations.   Given that the above tax measures would disproportionately generate revenues in higher-income countries, they would have to be accompanied by robust revenue-sharing mechanisms to ensure investment in low- and middle-income countries.   In terms of climate finance, states at COP29 agreed to provide only US$300 billion annually towards climate action, despite civil society groups and lower-income countries advocating for a target of US$1.3 trillion – based on assessments of what is required.   Yet in addition to ODA, taxes and debt relief, there are other sources of finance available that are incompatible with the SDGs. Investments in fossil fuel industries from the world’s 60 biggest banks for instance totaled US$705.8 billion in 2023. These investments clearly breach the aim to phase out fossil fuels and SDGs 7, 13, 14 and 15 related to affordable clean energy, climate action, life below water and life on land respectively.   Were such levels of finance invested in clean energy, it could have a major positive impact.   Similarly, explicit subsidies by governments to fossil fuel producers comprised US$1.3 trillion in 2022. Such subsidies include, for example, tax breaks for fossil fuel companies, which boost the fossil fuel economy and decrease government tax revenue.   States should phase out fossil fuel subsidies, with due attention to ensure social protection for those subsidies that help lower income communities to afford energy and heat. They must conduct periodic reviews of revenues foregone by governments as a result of subsidies and of the justifications for their continued use including by applyinghuman rights impact assessments to evaluate any continued use.   While there will never be one single solution to close the climate and SDG financing gaps, there are many options available that states can and must commit to at the Financing for Development Forum in Seville.   WHY THE SDGS MATTER TO HUMAN RIGHTS   The SDGs acknowledge the responsibilities for all states as well as institutions (Goal 16) towards achieving inclusive, equitable and sustainable development. In relation to global economic reform, creditors, corporates, international financial institutions and states have duties and responsibilities. These actors should stop facilitating tax losses including through tax competition or illicit financial flo among others.   It is crucial that the SDGs and their respective targets are fully aligned with relevant human rights law and standards. Both are designed to be universal and to provide the same socio-economic guarantees to everybody regardless of status or circumstances.   This is reflected in the fact that the SDGs explicitly state they "seek to realize the human rights of all", with more than 90% of the targets directly reflecting elements of international human rights and labour law and standards.   Fundamental human rights principles such as good governance, accountability, rule of law, transparency, participation, inclusion, equality are critical for successful SDGs implementation.   At the same time, the legally binding nature of human rights law and standards, and their supervisory systems can help to fill accountability gaps in SDG implementation and monitoring whilst conversely, the SDGs framework is an important means by which human rights can be realized.   URGENT ACTION IS NEEDED NOW   As demonstrated above, options exist to generate and allocate significantly greater resources to rescue the SDGs and avoid further climate catastrophe. There is an immediate need to reverse cuts in ODA and meet longstanding aid commitments, as well as an imperative to advance reforms that would provide much greater and more sustainable forms of finance to states.   The FFD4 Summit provides an opportunity for states to act in line with their existing binding human rights obligations and demonstrate the political will necessary to translate these obligations into concrete action.   The current draft outcome document should be supported by states whilst ensuring that they work to strengthen it in certain areas in particular, the outcome document should clearly delineate the responsibilities of developed countries with regard to public financial resources, namely that they provide finance to developing countries as per their previous ODA and climate finance commitments and legal obligations.   In relation to progress towards enhanced international tax cooperation, the outcome document needs to respond to the diverse needs, priorities and capacities of all middle- and low-income countries.   Finally, there is need for strengthened mechanisms for monitoring and follow up of the FfD4 national and global commitments in order to ensure sustained progress on financing for inclusive, participatory and sustainable development.   In order to rescue the SDGs and address the climate crisis, States must:   * Defend aid – the US and other governments should reverse cuts to aid budgets, and abide by commitments to allocate 0.7% of GNI to ODA   * Tax the net wealth of billionaires and centimillionaires and windfall profits of companies, investing the revenues in poverty reduction, guaranteeing public services and climate finance   * Provide debt relief including consideration of debt restructuring and/or cancellation for countries in or at risk of debt distress   * Support a robust UN Framework Convention on International Tax Cooperation and a UN Framework Convention on sovereign debt   * Redirect subsidies of fossil fuels towards investment in clean energy   * Phase out investments in fossil fuel industries and invest adequately in a just transition   * Support the issuance of SDRs based on needs instead of IMF quotas   http://www.amnesty.org/en/documents/ior40/9272/2025/en/ http://www.amnesty.org/en/documents/ior40/9271/2025/en/ http://www.ohchr.org/en/press-releases/2025/04/un-expert-urges-states-finance-inclusive-and-sustainable-development-not-war http://www.ipsnews.net/2025/04/financing-financing-development-summit-must-address-social-dimensions/ http://www.srpoverty.org/2025/01/17/financing-social-protection-floors-contribution-of-the-special-rapporteur-to-ffd4/ http://www.srpoverty.org/2025/02/11/joint-statement-a-call-for-action-on-financing-social-protection/ http://www.srpoverty.org/2025/03/12/joint-call-with-ituc-for-a-global-fund-for-social-protection-and-strengthened-international-commitments-at-ffd4/ http://www.unicef.org/press-releases/14-billion-children-globally-missing-out-basic-social-protection-according-latest http://www.ids.ac.uk/opinions/a-new-era-for-social-protection/   Apr. 2025   UN expert urges States to finance inclusive and sustainable development, not a war economy. (OHCHR)   Time is running out to save the financing of the sustainable development agenda, an independent human rights expert warned today, calling on world leaders to seize the opportunity at the upcoming 4th International Conference on Financing for Development (FfD4) to act decisively to address multiple challenges.   “Instead of funding a war economy, States should invest in people and the planet by financing sustainable development, including to end poverty and hunger, reduce inequalities, eliminate child labour, take climate action, and promote peaceful, inclusive and just societies,” said Surya Deva, the UN Special Rapporteur on the right to development.   As negotiations preceding the 2025 ECOSOC Forum on Financing for Development and the Fourth Preparatory Committee for the FfD4 unfold, the expert issued a Negotiation Brief, outlining key considerations that should underpin negotiations of the outcome document.   “The right to development provides a transformative pathway to overcome key existing challenges to financing for development. It is time for States to use principles of fair distribution, intersectionality, self-determination, intergenerational equity, international cooperation and disarmament to leave no one behind,” the expert said.   Many countries, especially Least Developed Countries (LDCs), Land Locked Developing Countries (LLDCs) and Small Island Developing States (SIDS), face large funding gaps, aggravated by heavy debt burdens, trade barriers, declining Official Development Assistance (ODA), good governance gaps, unfair international financial architecture, and corporate tax avoidance and evasions.   “It is important that States mobilise financing not for any kind of development, but for inclusive, participatory and sustainable development,” Deva said. “States should reinforce the nexus between the three UN pillars of peace and security, sustainable development and human rights in the outcome document. And, since women and girls comprise about half of the world’s population, the FfD4 outcome document should mainstream achieving substantive gender equality as an overarching goal.”   The Special Rapporteur also stressed the need for the FfD4 outcome document to address the unsustainable debt burden of developing countries by invoking a range of measures such as debt swaps for climate action, long-term concessional loans, grants and debt service suspension during disasters. Steps should also be taken to reduce the high cost of borrowing faced by developing countries.   In his Brief, Deva has suggested several other measures to facilitate access to affordable, safe and green technologies, leverage additional innovative sources of financing, strengthen good governance and reform international financial architecture.   “Developed countries must work together for a more targeted, coordinated and efficient ODA process and honour the commitment to provide ODA of 0.7 per cent of gross national income (GNI) to developing countries and 0.15-0.20 per cent of GNI to LDCs,” the expert said.   http://www.ohchr.org/en/press-releases/2025/04/un-expert-urges-states-finance-inclusive-and-sustainable-development-not-war Visit the related web page
	Countless people are struggling to make ends meet while wealth and power is concentrated at the top by World Social Report 2025 UNU WIDER, UN Division for Inclusive Social Development   Apr. 2025   Millions of people around the world are living in fear of job loss or struggling to find work, as economic instability, conflict, and climate shocks combine to erode global security, a new UN report has warned.   According to the World Social Report 2025, the sobering sentiment indicates a widespread lack of confidence in the future. Despite people living longer, being better educated and more connected than ever before, many believe that life today is worse than it was 50 years ago.   Close to 60 per cent of people surveyed on life satisfaction reported that they were “struggling” with a further 12 per cent describing themselves as “suffering”, the report notes.   According to the report, economic instability is no longer limited to the world’s poorest regions. Even in high-income countries, rising job uncertainty, gig work and the digital transition are contributing to this trend.   These jobs may offer flexibility but often come at the cost of security and rights – reducing workers to mere service providers in a commodified labour market.   The insecurities are further compounded by an alarming rise in informal employment. In many low and middle-income countries, jobs with no safety net remains the norm, locking workers into cycles of low pay, instability, and zero benefits.   Even those who manage to enter formal employment face significant risks of being pushed back into the informal sector, especially during downturns.   For over 2.8 billion people living on less than $6.85 a day – the threshold for extreme poverty – “even a small shock can send people into extreme poverty and any escapes from poverty are often temporary,” the report warns.   The situation is further complicated by rising climate change impacts and worsening conflicts, further undermining local economies and deepening inequality, especially in the developing world.   As financial pressures mount and stability erodes, public confidence in institutions – and in one another – has also taken a severe hit, particularly among young people.   Over half the world’s population (57 per cent) now expresses low levels of confidence in government. Among those born in the 21st century, trust levels are even lower – raising concerns about long-term civic disengagement and political instability.   People’s trust in one another is also eroding. Fewer than 30 per cent of people in countries with available data believe that most others can be trusted, undermining social cohesion and complicating efforts for collective action.   “The spread of misinformation and disinformation, facilitated by digital technologies, is reinforcing divisions and fuelling distrust,” the report says, warning of abuse and misuse of digital platforms and social media to spread deceit and hate speech, and stoke conflicts.   “Often, users find themselves immersed in virtual and siloed ‘echo chambers’ where they are exposed to news and opinions that align with and may even radicalize their views.”   Platform algorithms facilitate the creation of such echo chambers and reward more extreme content and engagement with higher visibility, the report adds.   To reverse these damaging trends, the report calls for a bold shift in policymaking – one grounded in equity, economic security and solidarity.   It urges governments to invest more in people through expanding access to quality public services – such as education, healthcare, housing and robust social protection systems.   These investments are not discretionary, the report stresses, but essential to promote resilience and inclusive growth.   It also highlights the need to rebuild trust through inclusive and accountable institutions. At the same time, power and wealth needs to become less concentrated at the very top of society.   As momentum builds toward the Second World Summit for Social Development, which will be held in Doha in November, global leadership will be key to driving transformative change.   UN Secretary-General Antonio Guterres stressed the need for unity and decisive action in a foreword to the report.   “The global challenges we face demand collective solutions,” he wrote. “Now more than ever, we must strengthen our resolve to come together and build a world that is more just, secure, resilient and united for each and every one of us.”   http://desapublications.un.org/publications/world-social-report-2025-new-policy-consensus-accelerate-social-progress Visit the related web page
	View more stories