UN Financing for Development outcome derailed by global north / Key events in Sevilla
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Ambitious UN Financing for Development outcome derailed by global north
Negotiations on the UN Fourth Financing for Development conference's official outcome document - the Compromiso de Sevilla - concluded on June 17th, resulting in a text that was closed and agreed on that date. It will be tabled for adoption in Sevilla, and final approval by the General Assembly in September. Yet, many consider it to be extremely disappointing. Several key global north countries pushed back against ambitious commitments.
Discover a selection of key and side events happening during FfD4 in Sevilla
News
Sign the aid petition - Reverse the cuts. Rethink the system. Stand for justice.
Last week we launched a new aid petition together with ActionAid, CONCORD Europe and Oxfam. The message for European governments is urgent: they should pay what they owe to the global south, and increase, improve, and democratise aid.
European Parliament rejects Development Committee's report on FfD ahead of FfD4
After it was adopted last month (20 May) in the Committee on Development (DEVE), last week the European Parliament voted to reject the report "Financing for development – ahead of the Fourth International Conference on Financing for Development in Sevilla".
Read our analysis (via X/Twitter) | Watch the video (starts at 12:49)
Financing a public future
On Public Services Day and one week before FfD4, a coalition of CSOs join forces to demand governments to take bold steps to transform the unjust financing architecture and accelerate progress towards quality public services.
Reports
Reassert tax sovereignty to unlock trillions for climate finance
by Tax Justice Network
This report finds that a major root of inadequate climate finance is not a lack of affordability but countries’ weakened tax sovereignty. Applying a minimal wealth tax on the superrich and making multinational corporations pay the dodged taxes they owe can cover the majority of countries’ climate finance costs, and leave most with billions in tax revenue to spare towards public services.
Read the report | Explore the interactive tool
Hollow commitments 2025: An analysis of developed countries’ climate finance plans and targets
by CARE Denmark
Of the 27 developed countries assessed in this report, including all G7 nations, only Denmark, New Zealand, and the Netherlands explicitly aim to allocate at least 50% of their climate finance to adaptation, as outlined in the Paris Agreement. Most others remain far from this goal, despite pledging in the Glasgow Climate Pact to double adaptation finance by 2025.
Making financial flows consistent with climate-resilient development: The role of international financial institutions and standard setters
by Recourse
This publication presents key recommendations for a just and equitable implementation of Article 2.1c of the Paris Agreement across some of the core institutions and decision-making fora that hold sway over financial flows globally — UNFCCC, G20, FfD, IMF, the World Bank, and central banks and financial regulators. It is an essential read for anyone wanting to understand the role that these institutions play in shaping the enabling conditions for financing climate action and sustainable development.
Blogs
Tax Justice: The missing element on the road to Belem?
The promises of impactful climate finance remain largely unmet, with “developed”/rich/global north countries hiding behind the excuse that there is not enough public finance available. But there is actually plenty of money out there and we have an open door to achieve global climate and development goals: an ambitious tax justice agenda.
Read the blog produced by Eurodad and several other CSOs
Compromiso de Sevilla - A digest of key elements of the UN's new global financing framework
by Bodo Ellmers (Global Policy Forum Europe)
This blog is an attempt to summarise the key elements of the outcome document of the Fourth International Conference on Financing for Development (FfD4). The selection highlights elements that are relatively concrete and have operational implications.
Useful resources
Climate and debt: Interconnected crises and responses
This webinar explores how the climate change and debt crises are deeply connected- and what we can do about it. it is a lead-up to the official in-person side event taking place on 1 July at the UN Financing for Development conference in Sevilla (Auditorium 3).
Improving the IMF and World Bank’s Debt Sustainability Framework for low-income countries
This document represents a contribution by several debt justice organisations to the ongoing review of the International Monetary Fund (IMF) and World Bank’s Debt Sustainability Framework for Low-Income Countries (LIC-DSF).
The role of blended finance and enabling environments for mobilising climate finance: what’s the evidence?
by Oil Change International, CAN Europe and ActionAid
This paper sets out some key points of evidence and considerations for the EU, pointing out necessary reforms to ensure blended finance can deliver a more positive role in tackling the climate crisis, but also to underline that a course shift is needed on the EU’s climate and development finance agenda.
Briefing for UN Climate Change Conference, SB62
by CAN International
As geopolitics worsen and the global economy continues to teeter, the implications are being felt across multilateral spaces, including the UNFCCC. The strain of the rapidly degrading sense of cooperation among countries threatens faith in the legitimacy of multilateralism and the institutions that uphold it.
Vacancies
Call for Tender for a psychosocial risk analysis consultancy | Eurodad | Deadline: 6 July 23:59 CEST
Call for tender for media and social media monitoring and management services | Eurodad | Deadline: 9 July 23:59 CEST
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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. |
