As world leaders meet in Cannes to thrash out next steps in tackling the global economic crisis, financial instability and short-sighted recovery strategies are continuing to take 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 endorsement be given to worldwide stimulus measures complying with human right principles, and that the kind of speculative financial activity that undermines human rights be prevented. Action should also be taken to limit damage to public funding by financial institutions that collapse due to excessive risk-taking, and to ensure proper regulation of bank capital requirements. Furthermore, governments must take steps to increase fiscal pressure on the banking sector, and work together to increase transparency and mutual accountability in revenue mobilization. Renewed efforts to drastically reduce greenhouse emissions are likewise needed.
The full text of the joint civil society statement can be accessed below: