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More than 170 CSOs and trade unions issue joint submission regarding a UN Framework Convention on International Tax Cooperation

As the negotiations of Terms of Reference for a new United Nations Framework Convention on International Tax Cooperation move forward, over 170 organisations and trade unions have responded to a consultation and made a joint submission to the Chair of the negotiations, specifying the key points that we expect the Convention to deliver on. 

The next stage of the negotiations will be the first substantial round of intergovernmental negotiations, which will take place from 26 April to 8 May at the UN Headquarters in New York. At that session, governments will discuss the content of the Terms of Reference, which they are committed to finalise by the end of August 2024. Civil society organisations and trade unions are invited to participate in the negotiations, and the deadline for registering to participate is 30 March 2024 (for organisations without ECOSOC status) and 5 April 2024 (for organisations with ECOSOC status). 

Read the joint submission and see the signatories here.

News

European Citizens Summit: for an open, fair, and sustainable Europe

by CNCD-11.11.11

Over the next 2 days (21-22 March), CNCD-11.11.11 and a number of European civil society networks, including Eurodad, are taking part in a European Citizens' Summit in Brussels. This is a unique opportunity to meet and discuss six major European issues  - 1) peace, human rights and human security, 2) major economic transformations, 3) climate and biodiversity/planetary limits, 4) common global challenges, 5) migration justice, 6) citizen participation and democracy.

At the end of the summit, the participating organisations will adopt a "Brussels Declaration", civil society's response to the "Granada Declaration", adopted by the European Council in October 2023, which sets out the EU's strategic priorities. 

Follow the event's hashtag #EuCtzSummit here

CSO’s and TU’s reject cosmetic consultations of IMF

by Institute for Political Economy

More than 65 civil society organisations/movements and trade unions 'condemn' the IMF’s engagement in Sri Lanka and the uncritical engagement of some civil society actors with the IMF, despite evidence of the detrimental consequences of the austerity programme on the socio-economic wellbeing of the majority of the people and their future generations. The Trade Unions and CSOs have consistently pointed out that much of Sri Lanka’s debt is odious debt and, therefore, illegitimate. There has been no willingness by the IMF to seriously consider this and the other critical issues raised by civil society thus far.

Read the statement here.

Reports

Make polluters pay: How to tax excessive ecological footprints

The destruction of nature due to air, water and soil pollution, the loss of biodiversity and climate change is putting people’s health and wellbeing at risk. Progressive environmental taxation can help to tackle these challenges. In this paper we introduce the concept of Excessive Ecological Footprint Taxation and demonstrate how a tax system designed to reduce inequalities and to operationalise the ‘polluter pays principle’ can serve to (1) internalise the external costs of nature destruction, (2) promote behavioural change, (3) contribute to achieving environmental and social objectives, and (4) catalyse the transition to socially just and environmentally sound economies.  

Read the report here.

Useful resources

Webinar recording: Sovereign ESG bonds to close the climate and SDG financing gap?

The past few years have seen a surge in interest in ethically labelled bonds for countries in the Global South. This includes so-called ‘green’ and ‘social bonds’ and derivatives, including ‘sustainability-linked bonds’ and ‘blue bonds’, now being heavily promoted for small island developing states (SIDS). This webinar served as an introductory session for CSOs on this subject, building on Eurodad’s report “Sovereign ESG bonds in the global south: 10 questions for those concerned about debt and climate justice”, written by Andre Standing.

Watch the recording here. 

The IMF’s Effective Lending Rate for Large Borrowers Is Now at Over 8 Percent

by Centre for Economic and Policy Research (CEPR)

The International Monetary Fund (IMF) is considered a “super-senior” creditor for developing countries, but it is now charging over 8 percent for disbursements to its most indebted borrowers. Super-senior credits are loans that have priority payback, above all other loans. Domestic pundits in developing countries usually claim that governments should prefer borrowing from multilateral lenders like the IMF because it’s cheaper than taking on debt elsewhere. While they usually ignore the social and economic costs of conditionality, they are also ignoring the true financial costs of IMF lending.

Read the article here.

Recording Brief Series Webinar: Navigating the Team Europe approach in the EU-AU health partnership

by Global Health Advocates

On 18 March, Global Health Advocates launched a new series entitled “Navigating the Team Europe approach in the EU-AU health partnership”. Comprising 3 briefings, the series explores the role of the Team Europe (TE) approach in the health partnership between the European Union (EU) and the African Union (AU). This webinar, including Eurodad's Senior Policy and Advocacy Officer Dr Farwa Sial who explained her views on the Global Gateway, presents key findings from each briefing and suggests recommendations for the implementation of TE initiatives.

Watch the recording here. 

Vacancies

Senior Policy and Advocacy Officer - Debt Justice

Eurodad | Brussels | Deadline: 28 April

Call for tender for media monitoring and press distribution services

Eurodad | Remote | Deadline: 3 April

Call for tender for consultancy - Report writing

Eurodad | Remote | Deadline: 29 March

End Austerity Campaign Coordinator

Equidad de Género | Remote | Deadline: 25 March

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.