Ecological and Climate Integrity in FfD4

Panelists:

• Mariana Paoli - Christian Aid

• Rebecca Thissen - CAN International

• Alicia Maldonado - Debt 4 Climate

• Markus Trilling - Eurodad

• Diego Pacheco - Government representative from Bolivia

• Government representative from Colombia / Honduras (TBC)

Moderator: Carola Mejia - LATINDADD

Abstract

The 4th International Conference on Financing for Development (FfD4) comes at a crucial moment to rethink the rules of the international financial and economic systems, especially considering that time is running out to tackle environmental crises such as the climate crisis and the loss of biodiversity. These crises have been caused by unsustainable economic systems, which depend deeply on fossil fuel extraction and the excessive exploitation of natural resources in the name of "economic growth”, mainly for the benefit of the Global North, small wealthy groups, and the fossil fuel industry.  Also, considering the widening financing gap faced by countries in the Global South, there is an urgent need to build mechanisms that respond to the social, economic and ecological challenges of our time. Therefore, the side event will focus on the structural points of entry in FfD4 for systemic transformations that could lead to a more sustainable path forward for humanity and the planet.

 Description

The ecological dimension is a cross-cutting agenda in the FfD process. However, there is still much to be done in terms of integrating the premises of economic ecology in the current UN discourse. This generates a large void in terms of the recommendations and actions undertaken collectively to address the current ecological and climate breakdowns. Furthermore, there is a need to include in the FfD process a comprehensive understanding of the way the current economic system negatively impacts the processes and cycles of the biosphere, so that the ecological dimension is not considered as an afterthought. The framework of planetary boundaries is already considered in the current UNCTAD negotiating process, and yet FfD is still siloing many components of an ecological agenda, while leaving out others. This side event is intended to shed light on the potential of addressing in an encompassing manner the ecological and climate dimensions. Furthermore, many of the proposals to address the climate change and biodiversity breakdowns are still relying on false solutions and dangerous distractions, while the harshest impacts are falling on those groups of population that have done the least to cause the harm.