In order to effectively address the international debt crisis, climate change, and other key challenges, Global North leaders must acknowledge their own complicity in enabling the illicit flow of needed funds out of developing economies.
Ahead of COP27, the U.S. can certainly point proudly to its historic investments of hundreds of billions of dollars into clean energy. An additional way for the Biden administration to bolster its climate policy is by finishing the job on a slew of anti-corruption reforms.
The growing nexus of environmental crimes and illicit finance is demanding action, and environment, conservation and anti-corruption advocates alike are taking note. On June 28th and 29th, FACT hosted a virtual convening of over 60 civil society activists, experts, and policymakers to discuss this policy intersection, identify shared priorities, and discuss joint advocacy strategies.
With the global climate summit COP26 just concluded and the Summit for Democracy – with its emphasis on combating corruption – right around the corner, now is the perfect time for activists to bring together the fights against corruption and climate change.
Operating in financial secrecy, bad actors are free to profit from environmental degradation, and in doing so undermine the global fight against climate change. As global leaders make new commitments this week at COP26, it’s time that politicians promise to shine a light on global financial secrecy, particularly the use of anonymous shell companies, as a crucial climate reform.
Tax and climate activists have a rare opportunity to join forces on public country-by-country reporting, a key tool to ending the global race to the bottom and unveiling unsustainable business practices.
