Social Justice in Global Development

Achieving the SDGs is threatened by costs of climate change - a solution lies in innovative finance

Based on the report of the Intergovernmental Panel on Climate Change and other important dialogues by both Governments and NGOs it has become apparent that costs of Climate Change Adaptation and Mitigation will run into tens of billions of dollars each year. At present these costs threaten to swallow development budgets. Unprecedented choices now need to be made between, for example, protecting forests or building schools. Both are necessary - we must protect the environment and we have to develop the skills of future generations. Additional sources of finance derived from Innovative Instruments are a relatively recent phenomenon. They have been on the sidelines boosting ODA in certain strategic areas such as Immunisation and HIV/AIDS treatments. They now need to move to centre-stage. Years of research into various initiatives has set the scene for the introduction of powerful untapped income streams worth billions of dollars. With the new budgetary pressure of Climate Change, Innovative Finance Instruments need to be introduced. Additional budgetary demands require additional resources. Without them, how can the Sustainable Development Goals possibly be met?

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Stamp Out Poverty campaigns for additional sources of finance to bridge the massive funding gap required to bring the world’s poorest people out of poverty. It is a network of more than 40 UK organisations, including Oxfam, Save the Children, Christian Aid and War on Want, pioneering initiatives such as UNITAID, which has already raised $1 billion for healthcare in developing countries. Additional, long-term finance is needed to pay for the achievement of the Sustainable Development Goals to provide clean water, healthcare and education to the poorest parts of the world. A situation compounded by the financial crisis squeezing traditional aid budgets. Stamp Out Poverty  is a leading member of the Robin Hood tax campaign.

The campaign gained even more importance after the financial crisis of 2008.  A Video (6 min) about the movement 2011 after the global financial crisis:  "We are the 99%" About Occupy Wall Street at Liberty Square and Times Square, New York Oct. 2011 .  The video can be seen here >>>

Check out the Campaign's film written by Richard Curtis and starring Bill Nighy:

On the Financial Transaction Tax