On 11 February, in New York City, we joined the 3rd Pre-Conference Session leading up to the 4th Financing for Development Conference (FFD4) in June. Held at the UN Headquarters, the session was a crucial moment to shape future financing commitments for Economic, Social and Cultural Rights (ESCR) worldwide. 

FFD4

The Financing for Development (FFD) Conferences are global negotiations focused on how States collaborate to fund the policies needed to secure fundamental rights for all. While the international community has committed to the Sustainable Development Goals (SDGs)—which include reducing inequality, eradicating poverty and hunger, advancing gender equality, tackling climate change, and transitioning to clean energy—a chronic shortfall in financing is stalling progress toward achieving these 2030 targets. 

The 4th FFD Conference (FFD4) will take place in Seville, Spain, from June 30 to July 3, 2025, bringing together governments, financial institutions, businesses, civil society, and UN agencies to set the direction for future development financing. These discussions are especially critical in the lead-up to the Second World Summit for Social Development in Qatar later this year, where the next generation of global development goals will be shaped. 

Engaging in Finance and Tax Talks 

Too often, decisions on tax policies, public spending and international cooperation are treated as purely technical issues, debated in silos by economists and finance experts. But these choices shape everyday lives—determining whether public services are funded, whether debt burdens suffocate economies and whether international aid actually reaches those who need it most. 

That’s why our organisation intervenes in these debates: to make sure that human rights obligations are at the core of the outcomes of the negotiations, ensuring transparency, accountability, meaningful participation and, ultimately, transformative results. 

Current State of the Negotiations

There are some promising ideas in the draft outcome document, like a potential UN convention on sovereign debt restructuring and calls for progressive tax reforms such as taxing high-net-worth individuals, but big gaps remain. 

• Development aid: With some Global North countries cutting official development assistance (ODA), FFD4 must push for concessional grants—not profit-driven loans—to meet human rights commitments.
• Debt crises: The draft does little to address how international financial institutions like the IMF and World Bank continue pushing austerity measures, gutting essential public services in the Global South.
• Climate finance: The text simply repeats the New Collective Quantified Goal (NCQG) from COP29, which falls far short of adressing the amount of money needed for a just and sustainable transition. 

GI-ESCR's Impact

With months to go before the final negotiations in Seville, we’re making sure human rights are on the table: 

• Kicked off a human rights workstream under the Civil Society Financing for Development Mechanism, a key platform for civil society input.
• Delivered a statement at the UN alongside partner organisations, pushing for stronger human rights commitments in the negotiation text.
• Drafted human rights language proposals to reinforce the current draft.
• Organised a side event facilitating dialogue between African and Latin American delegations to find common ground on financing challenges.
• Engaged with key state delegations and global partners to build momentum for progressive reforms. 

Next Steps

As negotiations continue, governments need to move beyond vague commitments and adopt bold, measurable financing targets. This is also a critical moment to: 

• Reform the international financial system to reflect human rights obligations, including by making Multilateral Development Banks (MDBs) accountable for the impact of their policies in human rights and the environment.
• Advance the UN Framework Convention on International Tax Cooperation for a fairer global tax system.
• Challenge austerity-driven policies that undermine economic and social rights. 

In the context of a fierce pushback against multilateralism, an agreement without a strong human rights foundation would entail a step backward in the fight for equality, justice and global cooperation. States must rise to the moment and agree on financing commitments that reflect their legal responsibilities, taking into account common but differentiated responsibilities, extraterritorial duties and the indivisibility of human rights.