The Commission for Social Development continues its work. Its priority theme is “Poverty Eradication”. Today we cannot think of eradicating poverty in our world if we ignore the impact of climate change on our efforts to lift people out of poverty. Where will the money come from?
Last week we had a fascinating event “Poverty and Climate Change: Lives in the Balance.” We were reminded that climate change affects all aspects of development – environmental, social and economic. The two greatest challenges facing our generation are how to lift up people trapped in poverty and how to stabilize Earth’s climate. Climate change is a fact. There is no way to stop it. What we can, and must do, is adapt to it and make every effort to lessen the disastrous effects it has and will continue to have on the world’s most vulnerable populations.
As always, women and children make up a majority of people living in poverty. Rural women are the backbone of agriculture in the developing world. They save the seeds, plant, harvest and market the produce. It is estimated that they are responsible for approximately one-half of the world’s food supply. But the traditional weather patterns they have come to rely on have been disastrously altered.
Stories from different countries underlined the disastrous impact of climate change. Sisters of Notre Dame de Namur from the Democratic Republic of Congo said they could always rely on a nine-month rainy season, followed by three dry months. Now the rainfall is uncertain; harvesting is unpredictable. “In Kenya, each year the rains would arrive in November… but, no more.” The Ambassador of the Maldives, a nation of 1,190 coral islands in the Indian Ocean, said climate change threatens his nation’s existence. The Maldives depend upon imported food. As climate change impacts food production, and prices begin to soar, the food security of the Maldivians will be at risk.
Last year the Pontifical Justice and Peace Council issued a statement urging major economic reform entitled “Towards Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority.” One of its recommendations calls for the taxing of financial transactions. “Such taxation would be very useful in promoting global development and sustainability according to the principles of social justice and solidarity.”
The NGO Committee for Social Development, with civil society organizations worldwide, is advocating for a Financial Transaction Tax (FTT). This would be a small tax (e.g. 0.05 percent) on all financial market transactions. When we ordinary mortals make a purchase, we pay a tax on the amount. Meanwhile, billions of dollars are bought and sold each and every day in the world’s financial centres and stock exchanges. These are completely tax-free and make the rich ever-richer. It’s time to end the free ride for the speculators!
Many economists see a Financial Transaction Tax as an innovative source of financing for development, and a practical way to help developing countries achieve the Millennium Development Goals, eradicate poverty, protect the environment and shape development that can be sustained. It would also help to reduce the destabilizing effects of downturns in the financial markets, reduce speculative trading and the wild fluctuations of asset prices in stock markets as well as in commodity prices. Over the long term, a Financial Transaction Tax could become a steady, predictable funding stream for poverty eradication.
Another potential source of funding is a reduction in current levels of military spending. In the wake of the global financial and economic crisis of 2008-2009, public spending on social development shrank, but military spending increased. To achieve the eight Millennium Development Goals it would cost US$329 billion each year – a mere 20 percent spent of the world’s spending on military each year.
In 1967, Pope Paul VI suggested that a portion of global military budgets be channeled into a global humanitarian fund for development. He told us that “development is the new name for peace.” Imagine what the world would be like today if his advice had been heeded? There can be no serious commitment to poverty eradication without addressing this issue.
The outcome document currently under negotiation by the countries that make up the Commission for Social Development makes no mention of reducing military budgets, nor does it consider any concrete proposals to finance efforts aimed at poverty eradication. The one mention of climate change in the document is strongly opposed by the United States.
I offer you a very simple way to join your voice to ours in our advocacy efforts. I encourage you to sign the online petition for the Social Protection Floor Campaign, and pass it on to your friends and associates. For more information on the Social Protection Floor, click here.

The number of people in the United States who deny that human behaviour has any effect on climate change has grown alarmingly in the past two years. It shows what money, vested interests and false advertising can do! Awareness of climate change keeps on growing in the rest of the world.
Imagine your world 20 years from now
Statement made by the NGO Committee on Financing for Development
The Report on the World Social Situation 2011: The Global Social Crisis
The United Nations Framework Conference on Climate Change began yesterday, November 28th 2011 in Durban, South Africa. Nearly 10,000 people are expected to attend the conference which will continue until December 7th 2011. Those attending include representatives of the world’s governments, international organizations and civil society. The discussions will seek to advance, in a balanced fashion, the implementation of the Convention and the Kyoto Protocol, as well as the Bali Action Plan, agreed at COP 13 in 2007, and the Cancun Agreements, reached at the Conference of the Parties to the UN Framework Convention on Climate Change. (COP 16) last December.



