A UN Convention on Tax – momentum just keeps growing


#TaxJustice #UNtaxconvention #FfD4 #UNGA78 #SouthWithoutDebt #CanceltheDebt #Climatefinance 

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A UN Convention on Tax – momentum just keeps growing

As heads of state and high-level ministers from around the world gathered for the UN General Assembly in New York this week, international tax cooperation was on the agenda as part of a High-level dialogue on Financing for Development.

Eurodad's Tax Justice Coordinator Tove Maria Ryding analyses what this week has meant for a UN Convention on Tax and what is in store in the coming months.

Read the news article here. 

Click here for details of an online forum on a UN Tax Convention taking place tomorrow (22 September) as part of the Asia Days of Action.

Click here for details of a webinar taking place on September 26 and featuring Tove Maria Ryding titled: Towards a UN tax convention details.


EU Court rules that the European Commission was right to say Belgian ‘excess profit’ tax scheme constituted illegal state aid

While yesterday’s decision is a big win for the Commission, Eurodad warns that the Belgian example is a symptom of a much larger disease and the legal battles that the Commission has had to go through are a stark reminder that the international tax system is broken.

Read the press release here. 

SDG mid-term summit: Mountain of debt buries development goals

by Erlassjahr.de

At the mid-term summit of the 2030 Agenda in New York, the debt crisis of the Global South is prominently on the agenda as an obstacle to achieving the Sustainable Development Goals (SDGs). On the occasion of the participation of Chancellor Scholz, Federal Development Minister Schulze and Foreign Minister Baerbock at the summit, the German debt relief alliance erlassjahr.de drew attention to the responsibility of the German government with a four-meter-high mountain of debt in Berlin.

Find the pictures and read the press release (in German) here.

International network of CSOs debate debt issues in the global south

This week, more than 70 experts in public and private debt from Latin America, Africa, Asia and the Middle East have gathered in Bogotá, Colombia, to debate and analyse debt issues at the global level.

The event has been organised by the Latin American Network for Economic and Social Justice (LATINDADD), in collaboration with other civil society organisations such as AFRODAD, APMDD, Eurodad, Jubilee USA and the Network and Civil Society Financing for Development Mecanism (CS FfD Mechanism). A Declaration will be published in the coming days.  

Read more about the event here.

More than 100 organizations and academics sign declaration on credit risk in Ecuador

by Latindadd

More than 100 organisations and academics have signed a statement raising the alarm over growing concerns that Ecuador could face a risk to its credit rating after its decision to award the Yasuni reserve with protected area status. In response to this sovereign decision, which will also bring all mining activities in the Choco Andino to a close, the credit ratings agency Moody’s, released a statement implying that it could have negative repercussions.

Read the article here. 

The World Bank drives billions into fossil fuel investments

by Urgewald

The burning of fossil fuels is the biggest contributor to the climate crisis. There are no more excuses, no public assistance should be used to boost or prop up the development of fossil fuels. Yet the World Bank is still using its public funding to drive billions and billions into fossil fuel investments, including coal.

Read the full article here.


Breaking out of the bubble to transform education financing

by ActionAid International

A year ago the Transforming Education Summit (TES) was the highest level education meeting in history, convening Heads of States on an unprecedented scale to talk about the education crisis. One year on it is clear that to make the necessary breakthroughs the education community at national and international levels must break out of its bubble and engage in much more strategic dialogue and action around tax justice, debt justice and ending the cult of austerity.

Read the report here. 

The principles of tax justice and the climate crisis in Africa’s resource-rich nations

by Women’s Environment & Development Organization (WEDO)

Tax injustice is prominent across the world – and especially in Africa’s extractive industry. While extractive industries are important sources of revenue in many African economies, the revenue could be much higher - because Africa loses huge amounts in illicit financial flows. Just one component, corporate tax avoidance from mining, costs the continent as much as US$730 million per year.

Read the report here. 

Useful Resources

Webinar recording: Testing times for international development policy - Ideas for action with a focus on climate finance

This month, Eurodad’s climate finance officer spoke on a panel for an OECD webinar and presented her findings on climate finance that were published in this year’s OECD Co-operation Report “Debating the Aid System”.

Catch up via the webinar recording here.


Communications and Outreach Officer

Counter Balance | Brussels | Deadline: 15 October


26 September | Addressing the debt crisis through aligning economies with human rights

A few weeks before Annual Meetings in October in Marrakech, this side-event, co-organised by Eurodad, will bring together perspectives from governments, international organisations, and civil society to discuss and unpack what the human rights elements of alternative economic models may be, as potentially part of a new eco-social contract, and discuss a new report from Human Rights Watch on IMF lending conditionalities.

Register for the online attendance here. 

27 September | Shifting Finance – The World Bank Reform as a key to global socio-ecological transformation? 

This webinar, organised by the German Alliance 90/The Greens parliamentary group, will discuss with experts from the World Bank, the BMZ, civil society and science how an ambitious evolution of the World Bank can succeed. Our Policy and Advocacy Manager for Development Finance, María José Romero will speak at the panel: “How to become a better bank?”. 

Register for the live-stream or in-person attendance here.

This newsletter has been produced with co-funding from the European Union, Bread for the World and Norad. The contents of this publication are the sole responsibility of Eurodad and can under no circumstances be regarded as reflecting the position of the funders.