Rebuilding the Environmental Balance
Expanding and Reinforcing the Objectives of the Kyoto Protocol: Inciting International Stakeholders to Engage in Greenhouse-gas Transparency
Conference for Climate Change
Greenhouse-gas Emissions and Global Mitigation Efforts
Small-scale Sustainable Farmers Are Cooling Down the Earth
After Copenhagen, Some Light on the Horizon
Henceforth, the Keys to the Future are Responsibility, Solidarity, and Courage
For Climate Justice and a World Fit to Be Lived in
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Transforming Capitalism: the Triple Crisis
Beyond the Growth Paradigm: Creating a Unified Progressive Politics
Letter to our readers and to the Mandela World Liberation Front
Statement No. 1
Regulating Transnational Companies: 46 Proposals
For a World Citizen Movement
Rio+20 and Beyond. No Future without Justice
Political and Institutional Governance
The Extraterritorial Scope of the International Covenant on Economic, Social and Cultural Rights (ICESCR)
What Europe does the world need?
The Emergence of Global Administrative Law
Territories and Globalization: The Stakes of Development
The World March of Women Third International Action
A War Hiding Another War
The One Party Planet
Setting up an Arbitration Tribunal on Debt: An Alternative Solution?
An Ecological Act: A Backgrounder to the National Rural Employment Guarantee Act (NREGA)
A Global Pension Plan
Reclaiming the ASEAN Community for the People
Capitalism Has Failed: 5 Bold Ways to Build a New World
China: Sustainable Development Strategy Report 2009
Call to Multiply the Village of Alternatives
Rural Areas and World Governance
Swords into Plowshares
Low-carbon Economy and Sustainable Development
China Sustainable Development Strategy Report 2011. Greening the Economic Transformation
The Challenge of Environmental Governance
Dictionary of World Power
Preparing Rio+20 at the Thematic Social Forum: A Historical Opportunity
Policy Paper on Education: Building the Future through Quality Education
World Governance of Civilian and Military Nuclear Energy
Rediscovering Nelson Mandela for the Twenty-first Century
Inventing a New World Governance Now
The labor movement presented in Doha, in November 2012, a proposal on how to raise the agreed 100 billion dollars to fight against climate change from public contributions, and how to go even further through direct investments from pension funds toward sustainable choices.
Finance is a key tool to advance climate policy. As was shown again in Doha, it is one of the key elements in the essential negotiations to seek an agreement. The ITUC, TUAC, and Sustainlabour organized on Friday, November 30 a side-event where a paper was discussed that offered proposals to overcome governments’ resistance to raise the necessary funds. The event was chaired by Sharan Burrow, SG From ITUC, Pierre Habbard, Senior Advisor ITUC-TUAC, who presented the paper "Raising International Climate Finance," Liane Schalatek, Director of the Heinrich Böll Foundation US, Victor Viñas, Climate Change Director, Dominican Republic, Paul Quintos, International Policiy Officer, IBON, Michael Mullan, OECD Coordinator for Climate Change and Adaptation, Denis Benjamin (ETUC), and Romina Castro (TUCA).
Unions are calling developed countries to meet the 100 billion dollars promised by public funding and grants. The gap between commitments made by the developed world for the fight against climate change and for poverty reduction and the effective level of financing needed (which we call “global public-good resource gap”) ranges between 300 and 320 billion dollars annually for the 2013-2020 period. In addition, since the implementation of austerity policies in Europe, we are moving further away every day. It is in the hands of government to raise the needed money. The first step is to get away from austerity programs and the second is to be willing to raise those resources. How?
• Carbon-related taxation—including the repeal of fossil-fuel subsidies and the creation or strengthening of carbon taxes—must be stepped up and designed in a socially fair way and as part of broader industrial-transition policies.
• The tax base for international climate finance can and should be broadened beyond carbon taxation to include the financial sector. Various forms of financial-taxation mechanisms could be introduced. Rather than being mutually exclusive, they would complement each other.
• The creation of a global Financial Transactions Tax (FTT) or the coordinated implementation of several regional and national FTTs would considerably enhance the tax base of governments to match the global mobility of capital worldwide.
Institutional investors can and should have a complementary role given the change in scale in climate finance that is needed. Their role should add on to that of public financing, and not be a substitute for it.
Pension funds in particular represent an important class of asset owners and one with which trade unions have a special relationship. Our calculations suggest that the net contribution of pension funds to financing climate-change projects could potentially reach 300 billion dollars in 2015—if by that time portfolio exposure to climate change reaches 5%. There are important barriers that need to be overcome, however, for this financial contribution to be made possible.