Uphold Human Rights in Finance, organizations tell the G20

Rethinking Bretton Woods | Tue, Oct 25, 2011

More than 190 organizations from over 53 countries demanded that the Group of 20 countries, meeting in Cannes on November 3-4, uphold their human rights responsibilities in financial decision-making. The statement calls for:

  • Endorsement of worldwide stimuli measures according to human rights principles;
  • Reforms to prevent speculative activity in financial markets from undermining the enjoyment of human rights;
  • Action to limit the damage to public funding of financial institutions that collapse due to excessive risk-taking
  • Regulations of bank capital requirements consistent with human rights standards;
  • Agreement to increase the relative fiscal pressure on the banking sector and to cooperate to increase transparency and mutual accountability in revenue mobilization;
  • An agreement to drastically reduce greenhouse emissions which contribute to climate change.

Read full statement.