As world leaders meet in Cannes to thrash out next steps in tackling the global economy's continuing woes, financial instability and short-sighted recovery strategies are taking a heavy toll on vulnerable communities. With these facts in mind, CESR has come together with some 185 other civil society organizations from around the world to remind decision-makers involved that human rights must be a key consideration in both their discussions and any commitments undertaken.
This call is made all the more urgent by the fact that human rights concerns have not been properly considered in crisis response measures so far, and as a result a devastating price is being paid by many thousands of ordinary people. If the Group of 20 is to meet its obligations to respect, protect and fulfill the rights of the people they serve, it is of critical importance that action be taken on the following issues:
- 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;
- Actions 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;
The full text of the joint civil society statement can be accessed below:
