WCC news: WCC calls for debt justice and wealth taxation at the UN Social Forum

At the recent United Nations Social Forum, the World Council of Churches (WCC) led global calls for a renewed economic system that prioritizes human rights and environmental sustainability. Held from 31 October to 1 November at the Palais des Nations in Geneva, the forum brought together representatives from governments, civil society, and academe to discuss the impact of finance on development and human rights.  Photo: Marcelo Schneider/WCC 06 November 2024 Representing the WCC, Athena Peralta, director of the WCC Commission on Climate Justice and Sustainable Development, emphasized the urgent need for an inclusive debt restructuring framework and fair wealth taxes to respond to the climate crisis and address systemic poverty. In her intervention during the roundtable on debt and debt sustainability, Peralta highlighted that over 3 billion people live in countries where debt payments surpass spending on essential services such as education and healthcare, deepening inequalities and limiting access to fundamental rights.  “Debt remains an obstacle to attaining the Sustainable Development Goals in many countries,” Peralta stated. “The World Council of Churches supports calls for a new debt architecture as part of a New International Financial and Economic Architecture, including the cancellation of unjust and illegitimate debts without imposing austerity, as reparations for the colonial and ecological debt owed to countries in the Global South, and the establishment of a permanent, transparent, and representative multilateral debt restructuring framework within the United Nations.” Peralta also addressed the issue of domestic resource mobilization, underscoring the disparity in carbon emissions between the world’s wealthiest individuals and those most affected by climate change. “While those least responsible for climate change bear the brunt of its impacts, the ultra-rich—who have seen their fortunes grow significantly since the pandemic —emit 1,000,000 times more carbon dioxide through investments in polluting industries,” she noted. Peralta called for implementing progressive wealth taxes, which she explained could “generate US$2.5 trillion annually—enough to lift 2.3 billion people out of poverty, deliver universal health care and social protection for 3.6 billion people, and meet states’ obligations to uphold human rights.” The WCC’s message at the forum underscored the moral responsibility to make wealthier polluters contribute more to climate reparations and a just transition to sustainable economies. “The resources are available; it’s time for leaders to act decisively to support vulnerable communities and ensure a sustainable, equitable future for all,” Peralta concluded. WCC Sustainability and Economy of Life: Advocacy for sustainable communities, accompanying the struggles of communities impacted by economic and ecological injustice. See more

The World Council of Churches promotes Christian unity in faith, witness and service for a just and peaceful world. An ecumenical fellowship of churches founded in 1948, today the WCC brings together 352 Protestant, Orthodox, Anglican and other churches representing more than 580 million Christians in over 120 countries, and works cooperatively with the Roman Catholic Church. The WCC general secretary is Rev. Prof. Dr Jerry Pillay from the Uniting Presbyterian Church in Southern Africa. Media contact: +41 79 507 6363; www.oikoumene.org/press Our visiting address is: World Council of Churches Chemin du Pommier 42 Kyoto Building Le Grand-Saconnex CH-1218 Switzerland