Boosting Ambition Through International Obligations: The Added Value of Integrating Human Rights to the Climate Financing Discussion

This publication discusses the need to enhance climate financing by grounding it in international human rights obligations, especially economic, social, and cultural rights (ESCR).

It underscores that developed countries, primarily responsible for historical emissions, must provide adequate, predictable and rights-based climate financing to the Global South.

The report critiques existing climate finance mechanisms as insufficient and debt-inducing, highlighting the essential role that the New Collective Quantified Goal (NCQG) on Climate Finance can have on increasing ambition. It argues for a stronger, enforceable international legal framework, linking climate finance to extraterritorial obligations under human rights law. This integration could ensure a fairer distribution of resources, supporting vulnerable communities and aligning with principles such as 'common but differentiated responsibility'.

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Fiscal Policies and Climate Financing - Proposals from Latin America and the Caribbean

In the context of growing climate crises and economic inequalities, Latin America and the Caribbean face challenges that require innovative and sustainable solutions. This publication presents a comprehensive analysis of the urgent need for climate financing in the region, proposing a fiscal reform focused on human rights and aligned with the Paris Agreement. Through measures such as wealth and carbon taxes, the revision of tax benefits, and the fight against tax evasion, the publication explores how progressive and green fiscal policies can be fundamental for a just transition towards a sustainable economy. Additionally, international opportunities to promote these policies are highlighted, emphasising the importance of global cooperation in combating climate change and promoting economic justice.

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Green and Progressive Taxes for the Socio-Ecological Transition

This report analyses the role of fiscal policy in addressing the triple planetary crisis and growing inequalities. Considering that this decade represents the last opportunity to guide economies towards environmentally safe and socially just limits, change cannot wait. It is imperative to carry out a socio-ecological transition that reconciles social and economic well-being with environmental protection.

The triple planetary crisis requires immediate action by States. At the same time, this crisis also represents an opportunity for Latin America and the Caribbean (LAC) to position itself as a leading region in the global socio-ecological transition. LAC has the resources and potential to address climate change with renewable energy and restore vital ecosystems. Structural changes and a reconciliation between social, economic and environmental well-being are required to confront the crisis.

This report proposes a package of fiscal measures to make those actors historically responsible for the crisis finance the ecological transition. It is time for those most responsible for historic emissions – developed countries, large corporations and economic elites – to contribute financially to the transition and support more vulnerable countries. For this, LAC must lead green and progressive fiscal reforms at the domestic and regional levels. Taxing the ultra-rich and their luxury consumption and investments would reduce their environmental footprint, generate funds for climate adaptation, and support the most vulnerable.

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