‘It’s No Longer Funny': The Funding Wars That’ll Dictate Our Future
- Private Sector Engagement
- by Pooja Parvati
- 16 Nov, 2014
In the recently-concluded G20 Meet (15-16 November) in Brisbane, Australia, US President Barrack Obama and Japanese PM Shinzo Abe committed to $4.5 billion towards a Green Climate Fund (GCF), a U.N. fund to help developing nations cope with global warming that aims to collect $10 billion by early-2015. Four days later in a meeting of the GCF countries in Berlin, the amount grows to $9.3 billion promised by 22 countries that also includes developing countries like Mexico, Indonesia, and Mongolia.
The GCF was set up as an outcome of the 16th meeting of the UN Conference of State Parties in 2010 to part-finance an annual $100 billion commitment till 2020 to rein in fossil fuel pollution. If it took four years for 22 countries (that also included some developing countries) to commit to just the start-up funds, wonder how feasible it is to think that countries would collectively provide $10 billion every year for the next six years.
This reminds me of the Scandinavian pop artist Meja’s hit solo album titled ‘Seven Sisters’ of 1998 where she sang:
“…We find strange ways of showing them how much we really care
When in fact we don’t seem to care at all
This pretty world is getting out of hand
So tell me how we failed to understand
It’s all about the money…I don’t think it’s funny…”
I am talking about climate financing also because it is a key part of our ongoing conversation around the post-2015 development agenda. The new Sustainable Development Goals (SDGs) that will come into effect post-2015 are going to be defined by their emphasis on sustainable development; the Green Climate Fund (GCF) is one of the ways to achieve sustainable development.
Globally, the amounts needed for climate change mitigation (this means preventive measures such as – checking global temperature rise, protecting forests and oceans that are also known as carbon ‘sinks’) ranges from $ 400 to 1,200 billion a year by 2030. For climate change adaptation (this means efforts to adjust to future climate change such as – a farmer planting more drought-resistant crops or a city ensuring that new coastal infrastructure can accommodate future sea level rise), the bill works out to anywhere between $ 50 to 170 billion per year by 2030. The proposed GCF with a pool of $100 billion aims to address this deficit to some extent.
On what it would cost to finance some of the other critical areas such as healthcare and education, a UN Committee (called the Intergovernmental Committee on Sustainable Development Financing) with 30 experts from across all regions globally worked out estimates and submitted its report in August 2014 to the UN General Assembly. The calculations highlight how wide the gap still remains.
Sample this: a global safety net to eradicate extreme poverty in all countries would cost $66 billion while eliminating hunger by 2025 would be possible with $50.2 billion. Universal health coverage and universal primary education comes with a price tag of $37 billion and $42 billion respectively. Throw in an additional $27 billion and you can ensure water and sanitation for all. To fund infrastructure projects in areas like water, agriculture, telecom, power, transport, buildings, industry and forestry, we would need a whopping $5000 billion. All of this adds up to $5222 billion on a yearly basis.
Do you know how a global safety net to end poverty is defined? It is measured in terms of increasing incomes of the poorest to a $1.25 a day benchmark. Activists have been voicing their concern about this paltry amount ($1.25) which translates to a meager Rs.75 a day.
What can Rs.75 buy for an Indian family of four living in the capital city of Delhi? A litre of skimmed milk = Rs.34; a kilogram of onions = Rs. 25-30; a kilogram of wheat flour = Rs. 16. And we are not even looking at electricity or transport, leave alone shelter, water and sanitation that are basic entitlements for a life with dignity. Now do you agree why the mythical poverty line has also been called the starvation line? Any lower than this and you would cease to exist.
One last fact: Official Development Assistance (ODA) stood at $134.8 billion in 2013, the highest level ever recorded. If we compare this to the massive bill of $5222 billion that we have accumulated to ensure some basic services, it is clear that ODA covers just 2.5% of the bill. This means we cannot rely on ODA alone and will need to look at other options as well.
The same UN Committee Report flagged some of the other sources available to us to tap into. These include: increased taxes collected by governments, private sector contributions, international trade and financial markets. Checking the outflow of income through tax evasion and flow of black money (money that is earned without paying taxes) are also ways to enhance available funds for development. There is a lot of talk now of contributions from the corporate and business houses – my only concern is there is not enough conversation around holding them to account.
And to ensure that the funds from these sources do not get misused, we would need policy reforms such as increased transparency, access to information and improved governance mechanisms. The Indian PM Narendra Modi mentioned this at the G20 Meet when he voiced the need for increased tax transparency and automatic exchange of tax information as vital to bring back the black money that has flown out of India. The G20 outcome Communiqué promises to put in place automatic tax information exchange processes by 2017-18. Not next year, or the year after, but three years from now!
Something tells me we need to keep a close watch as milestones continue to get pushed without any concrete actions in sight. Echoing Meja’s sentiment, the success of the new development agenda would rest entirely on how much, how well and in what way the money will flow in and direct the priorities for the next 15 years. And yes, it’ no longer funny!
By Pooja Parvati, Research Manager, Oxfam India
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From Darbhanga to Davos: Access to Affordable Medicine Still Remains a Key Question
Dec 16, 2019 | oxfamadmin
Hoping for a Second Chance: Punita Devi
Sep 27, 2019 | oxfamadmin
Activating Youth in Lucknow to Promote Girls’ Education
Sep 27, 2019 | oxfamadmin
Change is Coming: Rani Bitti’s Story
Sep 10, 2019 | oxfamadmin
Rachna’s Fight for Justice
Oct 7, 2019 | oxfamadmin
3 Key Observations from #WEF2016 that Indian Businesses Must Take Note Of
Sep 27, 2019 | oxfamadmin
Here’s Why States Need to Provide Free Basic Medicines
Nov 18, 2019 | oxfamadmin
Update: Oxfam to Provide Shelter to 300 Households Hit by The Manipur Earthquake
Apr 5, 2019 | oxfamadmin
In El Salvador, a struggle to survive El Niño
Oct 24, 2019 | oxfamadmin
Bihar designs a 15-year roadmap to reduce risk of disaster
Feb 20, 2020 | ursila
Violence as an Effective Mode of “Indian” Communication
Apr 5, 2019 | oxfamadmin
Because it’s 2015!
Sep 27, 2019 | oxfamadmin
Let’s welcome a new dawn, minus domestic violence
Oct 24, 2019 | oxfamadmin
Data and Discrimination: Women’s Ownership of Assets in India
Oct 24, 2019 | oxfamadmin
“No Woman, No Cry!”
Sep 27, 2019 | oxfamadmin
Pushing, pulling and the power of people: new horizons for corporate responsibility?
Jan 9, 2020 | oxfamadmin
Yes bank - say to inclusive and social banking and inclusive business model
Sep 27, 2019 | oxfamadmin
Creating shared value through inclusive business
Oct 7, 2019 | oxfamadmin
TATA consultancy services – empowering farmers with mobile technology
Sep 27, 2019 | oxfamadmin
What the CSR numbers don’t tell
Oct 1, 2019 | oxfamadmin
6 important things companies need to do to be inclusive
Nov 21, 2019 | oxfamadmin
Why businesses need to invest in creating a productive population for a sustainable future
Sep 10, 2019 | oxfamadmin
Jaipur rugs – weaving the lives of the poor into the global markets. an inclusive business model.
Oct 24, 2019 | oxfamadmin
The next 15 years: highlighting the role of the private sector in development
Oct 7, 2019 | oxfamadmin
Emphasizing a human rights-based approach to inclusiveness in business
Oct 30, 2019 | oxfamadmin
Privatising Forests: A Bad Idea
Oct 30, 2019 | oxfamadmin
Adoption of Agenda 2030: 17 SDGs for 15 years
Nov 15, 2019 | oxfamadmin
Five questions about the #GlobalGoals you were too embarrassed to ask
Oct 7, 2019 | oxfamadmin
Last mile smile
Oct 7, 2019 | oxfamadmin
Social responsibility of companies should not stop at 2%
Sep 27, 2019 | oxfamadmin
In ‘campaign mode’, states flout FRA rules
Sep 27, 2019 | oxfamadmin
“I will not leave my forest. I will keep my jungle”
Oct 1, 2019 | oxfamadmin
Healthcare for all in India: When, How, and Why RSBY?
Oct 24, 2019 | oxfamadmin
Where is the nutrition? Ask pregnant women in a village of Bihar
Jan 9, 2020 | oxfamadmin
Learning to read at schools, but where are the textbooks?
Oct 24, 2019 | oxfamadmin
Progressive tax norms must underlie financing of the Sustainable Development Goals
Sep 27, 2019 | oxfamadmin
Teachers needed! Government schools are falling behind due to lack of funds
Oct 24, 2019 | oxfamadmin
Protect and expand India’s public healthcare system: The inequality imperative
Dec 16, 2019 | oxfamadmin
“On My Second Day At School, A Kid Asked Me What Caste I Was”
Oct 7, 2019 | oxfamadmin
India’s missing girls: A tale of healthcare neglect faced by girls
Sep 9, 2019 | oxfamadmin
Should we only give attention to women’s health on International day of action?
Nov 18, 2019 | oxfamadmin
No respite for 72-year-old Sitaram, a month after #NepalEarthquake
Oct 7, 2019 | oxfamadmin
One month on, education of children still jolted by Nepal earthquake
Oct 24, 2019 | oxfamadmin
New worry for Nepal; landslides, floods may block relief work
Oct 7, 2019 | oxfamadmin
Monsoon preview in Kathmandu blows away shelters in relief camp
Oct 1, 2019 | oxfamadmin
Last mile distribution of relief supplies is biggest challenge in Nepal: Indian ambassador
Oct 7, 2019 | oxfamadmin
When Delhi’s Streets Buzzed with ‘Haq Banta Hai’
Oct 7, 2019 | oxfamadmin
Lack of water, toilets making things worse for women in Nepal
Oct 7, 2019 | oxfamadmin
Oxfam India gets government approval to respond to #NepalEarthquake in 28 hours
Apr 5, 2019 | oxfamadmin
Desperation creeping in, people in Nepal wait for aid
Oct 7, 2019 | oxfamadmin
#OxfaminNepal: “More than 60,000 litres of water has been provided till now”
Oct 7, 2019 | Avantika
Political (and some other) priorities in Nepal as of 28 April 2015
Oct 30, 2019 | oxfamadmin
#Nepal Earthquake: “The death toll has crossed 2000 and this is just the beginning”
Jan 9, 2020 | oxfamadmin
#NepalEarthquake: It is going to be a long road to recovery
Oct 24, 2019 | oxfamadmin
Money Matters!
Oct 24, 2019 | oxfamadmin
All for Education, Education for All
Oct 7, 2019 | oxfamadmin
When schools continue to exclude, can education reduce caste discrimination in India?
Feb 20, 2020 | oxfamadmin
Ensuring the right to education, forming bonds for life
Oct 1, 2019 | oxfamadmin
How can India send a spaceship to Mars but not educate its children?
Sep 30, 2019 | oxfamadmin
India wins in cricket, but losing out on education
Sep 30, 2019 | oxfamadmin
Oxfam's 'Even it up' report a must read lesson on Inequality
Oct 24, 2019 | oxfamadmin
It’s time to understand ‘womanhood is beyond maternity’
Oct 7, 2019 | oxfamadmin
The True Measure of Land's Value
Oct 7, 2019 | oxfamadmin
The “Ten-thousand Committee”: Reviving VHSNCs in Jharkhand
Oct 1, 2019 | oxfamadmin
Singing their way out of child marriage
Sep 10, 2019 | oxfamadmin
Land Acquisition bill tests government’s pro-poor stance
Oct 1, 2019 | oxfamadmin
Breaking the silence, standing tall
Sep 27, 2019 | oxfamadmin
Making a Song and Dance about Child Marriage
Oct 7, 2019 | oxfamadmin
Let’s Talk About Sex
Sep 10, 2019 | oxfamadmin
Mobile technology solutions could be a game changer for maternal health: Scribes
Sep 27, 2019 | oxfamadmin
Missing Girls: The Puzzling Domestic Violence Agenda
Oct 3, 2019 | oxfamadmin
Her Ghar: A right to residence for every woman
Oct 7, 2019 | oxfamadmin
Considering Gender: A Mediaperson’s Guide to Covering Disasters
Dec 16, 2019 | oxfamadmin
True Grit
Apr 5, 2019 | oxfamadmin
Violence against women and star power: Does their magic wand work?
Oct 24, 2019 | oxfamadmin
Having Those Difficult Conversations
Oct 24, 2019 | oxfamadmin
Day of the Man: guarding the china shop
Oct 7, 2019 | oxfamadmin
Gender parity needs to begin at home with mother’s guardianship rights!
Sep 9, 2019 | oxfamadmin
It’s a Girl!
Oct 1, 2019 | oxfamadmin
Let’s Help End Domestic Violence!
Oct 24, 2019 | oxfamadmin
A Few Good Men
Oct 7, 2019 | oxfamadmin
Promises to keep—Implementation of PWDV Act in Odisha
Sep 27, 2019 | oxfamadmin
Make 16 Days of Activism an Everyday Practice
Oct 30, 2019 | oxfamadmin
Witch-Hunting: A less talked about form of Violence Against Women
Oct 24, 2019 | oxfamadmin
Markets Also Discriminate
Oct 7, 2019 | oxfamadmin
Let’s Talk About Domestic Violence!
Oct 7, 2019 | oxfamadmin
Getting Serious about Ending Violence against Women and Girls
Oct 3, 2019 | oxfamadmin
Right to a Violence Free Life
Sep 10, 2019 | oxfamadmin
It’s all about the money
Sep 10, 2019 | oxfamadmin
Girl, Interrupted
Oct 1, 2019 | oxfamadmin
16 Pictures From Imagining Inequality That WiIl Tell You The Truth #evenitup
Oct 24, 2019 | oxfamadmin
These 8 Goals Were Set To Develop The World, But 14 Years Since, This Is Where We Stand
Dec 5, 2019 |
A Look At The Year 2029: What Kind Of Legacy Will We Leave Behind For Our Future Generations?
Nov 18, 2019 |
These 8 Goals Were Set To Develop The World, But 14 Years Since, This Is Where We Stand
Oct 24, 2019 | oxfamadmin
BRICS bank a necessary step, but needs more transparency
Sep 9, 2019 |
Short term memory and Long term needs!
Oct 7, 2019 |
A people’s budget has to go beyond...
Oct 24, 2019 |
National Shame, National Failure
Sep 27, 2019 | oxfamadmin
Oxfam India pledges its support to #BringBackOurGirls
Oct 1, 2019 | oxfamadmin
Closing the Gap on Gender: Is India up for the challenge?
Nov 15, 2019 | oxfamadmin
She tills, she sows, but she does not own
Oct 7, 2019 | oxfamadmin
Take a pause: what do the Uttrakhand floods tell us about India’s development model?
Sep 10, 2019 | oxfamadmin
Saving lives on sharp turning roads
Oct 1, 2019 | oxfamadmin
They do mind the gap
Oct 7, 2019 | oxfamadmin
Right to Education, still a long way to go.
Oct 1, 2019 | oxfamadmin
Can We Close the Gap on Women's Inequality in India?
Oct 30, 2019 | oxfamadmin
Breaking Old Barriers and Building New Alliances for Food Justice in India and Globally
Oct 24, 2019 | oxfamadmin
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