Summary
In times of crisis, the poor suffer the most. The cumulative effects of global economic downturn, climate change, and energy and food crises call into question the entire economic model and policies of the past quarter of a century. And yet a world in multiple crisis opens windows of opportunity. More stable, equitable and sustainable economies are already springing up locally. To retain greater control over local food, energy and money, to achieve a stable climate and fairer consumption, a global vision of alternative economics and politics is also needed. Smart growth, slower trade, sound investment and stable finance all form part of the challenge. More transparent, accountable and just governance of global markets, companies and institutions must support, not undermine, effective states, public services and modern regional policies. The European Union has a key role to play both at home and abroad. The Czech Republic’s unique experience of 20 years of transformation and half a year of presiding over the EU can help facilitate the change now. We therefore call on the Czech Presidency of the EU to:
MONEY UNDER CONTROL
1. Compel tax havens to end banking secrecy, promote Automatic Information Exchange between tax authorities, and expand the European Savings Directive to cover companies and trusts.
2. Push for international accounting standards to include Country-by-Country Reporting of multinational corporations in order to reveal the profits, losses and taxes paid in each country of operation.
3. Make financial regulators and standards setters – including the International Accounting Standards Board, the Financial Stability Forum, the Financial Action Task Force and the Bank for International Settlements – more representative and accountable.
CLEAN ENERGY
4. Lower greenhouse gas emissions by 30% by 2020 (against the 1990 level) and make the current 20% target for the reduction of the consumption of primary energy sources by 2020 legally binding instead just indicative
5. Push for a common EU energy policy to create a functional EU-wide electricity and gas market and not to succumb to pressures from national champions to maintain the status quo.
6. Incorporate into EU development programmes support for poor countries in integrating renewable and decentralised energy sources, forming long-term energy development strategies which ensure access to energy, improving energy efficiency by making EU expertise and knowledge accessible to development countries, and using best practice for the mobilisation of local private sector finance.
FOOD SECURITY
7. Support the realisation of a Global Partnership for Food and Agriculture and ensure that this partnership brings added value to the already existing coordination of the response to the global food crisis and that its architecture is agreed by all developing countries.
8. In line with the European Parliament’s demand draft an international proposal on a global inventory of food stocks and on how to support developing countries in bolstering local and regional food stocks.
9. Ensure the implementation plan of the €1 billion Food Facility is resultoriented and pays particular attention to engaging civil society organisations from developing countries in planning, implementing and monitoring actions financed by the Facility.
Prague Global Policy Institute – Glopolis is a non-political, non-governmental organization which focuses on the policy analysis of economic globalization and sustainable development.
The full study can be downloaded here.
CONTENTS
1. Summary
2. Crisis and Vision
3. Money under Control
4. Clean Energy
5. Food Security