12:15-13:00
Stage B

Monday 11 November 2024


Taxation for People and Planet: How small taxes on the super-rich can help solve global challenges

Inequalities and SDGs

(This session is co-organized with Open Society Foundations.) Since the onset of the pandemic, a whole host of innovative financial solutions have helped to create new fiscal space for today’s global challenges – from Special Drawing Rights issuance and re-channelling to optimization of MDB balance sheets to creative debt swaps. Yet in the midst of this important innovation, it could be tempting to forget the most direct way to raise public resources for the challenges we face: Taxation.

Today, attention is again turning to the importance of tax as the centerpiece of public finance. In July 2024, the G20 approved a declaration which adopted measures to intensify cooperation for tax justice for the first time, including the taxation of billionaires. In addition, the G20 process has surfaced proposals for international tax cooperation as a means to raise additional revenue for climate action in the Global South, notably through the Global Solidarity Levies Task Force. And Brazil’s G20 Presidency has proposed a minimum 2 percent levy on the world’s 3,000 richest billionaires, which could unlock approximately $250 billion globally, according to a report by the EU Tax Observatory.  Across these proposals, a common thread emerges: the wealthiest are the main sources of greenhouse gas emissions globally, and as such bear some responsibility for contributing to solutions to the climate finance shortfall. This session will explore the way forward for international tax cooperation in different multilateral spaces, and how to ensure it reduces inequalities within and between countries and help tackle the climate crisis.

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Intervention on the same theme

14:00 15:00
Stage C
11/11/2024
Unlocking African Agriculture for Development, Sustainability, and Global Stability
Inequalities and SDGs
15:30 16:30
Round table Room
11/11/2024
The Paris Dialogue one year on: working together to finance sustainable development
Inequalities and SDGs