UNFCCC and G7: CSOs mobilise for debt and climate


#PayUp #ClimateFinance #DebtJustice #EUelections #G7

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UNFCCC and G7: CSOs mobilise for debt and climate

With the UNFCCC (SB60) currently taking place in Bonn and G7 leaders meeting in Italy next week, CSOs have joined forces to demand the delivery of climate finance as part of the reparations owed to the global south, and to shed light onto the linkages between debt and climate. 

Read the briefing "Debt demands & debunking distractions for climate action", produced by thirty CSOs of the global Debt and Climate Working Group

Sign an open letter to G7 leaders

Follow the Pay up for Climate Finance! campaign by using #PayUp  


Tax justice pledge for EU elections

In the European Union, the annual loss to profit shifting by multinational corporations is conservatively estimated to be €36-37 billion per year. We all pay the price of this broken tax system, but it doesn't have to be this way. In the lead-up to the European elections, we can ask candidates to commit to advocating for tax justice in the European Parliament and advancing the specific measures proposed in the pledge.

View the pledge and tell your candidate to sign it

CSOs call on Banga to shut down the World Bank's Private Sector Investment Lab

One of World Bank President Ajay Banga's first actions was to create the Private Sector Investment Lab to “develop solutions to address the barriers to private sector investment in emerging markets,” particularly in “scaling transition finance in renewable energy and energy infrastructure.” However, this action represents an unacceptable conflict of interest; and an unproven and harmful development approach, based on a flawed diagnostic of the climate finance issue.

Read the joint letter

Climate vulnerable countries debt payments highest in three decades

by Debt Justice UK

Debt payments for the countries most vulnerable to climate change are set to hit their highest level in over 30 years. Calculated from World Bank and IMF data, new figures show that in 2024 external debt payments will be at their highest level since at least 1990.

Read more

G7 Finance ministerial meeting: where are actions and answers?

by Civil 7

A group of CSOs representing the voice of the international civil society at the G7 (including Latindadd), the Civil 7 are calling for a ministerial summit of shared responsibilities, including concrete and ambitious actions with respect to the current polycrisis to protect the weakest parts of the population, and medium and low-income countries.

Read the press release (English) | Spanish version


Is Africa becoming a rule maker?

by Catherine Mithia (AFRODAD)

A recent report by the Economic Commission of Africa (ECA) shows that Africa is predicted to dominate the world’s top 10 highest-growing economies in 2024 and to be the second fastest-growing region after Asia. Despite these projections, the continent is still contending with major difficulties in the wake of a series of multiple shocks including the Covid-19 pandemic, the Russian-Ukraine war, and major climate emergencies which have severely limited its growth potential.

Read the blog


The Reality of Aid report 2023: 30 years of amplifying Southern voices

by Reality of Aid

Marking the 30th anniversary of the network, this report analyses key shifts in the global aid landscape. Consisting of three major chapters, one of which written in collaboration with Eurodad, it gives a political overview of the network, changes, conflicts, and crises in development cooperation, and eradicating poverty in the changing aid landscape. It also includes an analysis of regional trends.

Read the report

Walk the talk: time for the G7 to make the COP28 Fossil Fuel Pledge a reality

by Oil Change International

This briefing shows that G7 countries, which have both the capacity and the responsibility to be leaders in phasing out fossil fuels, are not walking the walk – at home or abroad: some G7 countries are massively expanding fossil fuel production at home, while others are investing in more fossil fuel infrastructure abroad. Both are catastrophic failures of leadership, which the G7 has a responsibility to correct.

Read the report

Public banks working for public services

by Counter Balance

This report looks at public banks in Europe, how they work and how they are governed. It provides an insight into the workings of the European Investment Bank, which is central to the funding of major projects, particularly those involving key public services. The report also raises the question of trade union involvement and how the labour movement could work with civil society to push the EIB to prioritise public services and public investment over initiatives tailored to support private sector provision and investment in public services.

Read the report

A way out for IMF reform

by Bretton Woods Project

This paper takes up the long-standing issue of IMF reform, identifying key governance reforms feasible in the current economic and geopolitical context.

Read the report

Useful resources

Rewatch the video of the book launch: “Feminism in public debt - a human rights approach”


Senior Finance and Admin Officer

Global Alliance for Tax Justice | Brussels 


10 June | Webinar: "The management of human rights risks in intermediated finance by development finance institutions: a state of play discussion"

A multi-stakeholder exchange around the findings and recommendations of the report “Fit for Purpose? An analysis of development finance institutions´ management of human rights risks in intermediated finance”, launched in April 2024 by the Danish Institute for Human Rights (DIHR). 

Register for this event

20 June | Webinar: "What the latest aid data means & forecasts for the future"

Join Eurodad and Concord for a debate which will bring together speakers from the OECD’s Development Assistance Committee (OECD-DAC) and civil society from the global south and north. They will debate - in this global election year, what does this data mean for aid budgets and what are the implications for those living in the world’s poorest countries? This event will also mark the launch of a new briefing on ODA in 2023 and beyond, published by Eurodad. 

Register for this event

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.