October 17, 2019
Center for Economic and Policy Research, ITUC, Boston University’s Global Development Policy Center, Bretton Woods Project, and the Sierra Club
Rep. Ilhan Omar, Rep. Adriano Espaillat
27 Independence Ave SE
Washington, DC, 20003
Introductory remarks by:
Rep. Ilhan Omar
Richard Kozul-Wright, Director, Division on Globalization and Development Strategies, United Nations Conference on Trade and Development
Miriam Brett, International Development Finance Project Manager, Bretton Woods Project
Ben Beachy, Director of the Living Economy Program, Sierra Club.
Sarah Anderson, Director of the Global Economy Project, Institute for Policy Studies
The Green New Deal offers a bold and transformative vision for rethinking sustainable development in the US. It has also spurred discussions about how these policies can be scaled up to a global context. Fundamental to crafting a ‘Global Green New Deal’ is reassessing the role of international financial institutions, whose undemocratic market fundamentalism presents a major barrier to sustainable development. With the US’s influential voice at these institutions, it has the potential to play a key role in their transformation.
This briefing will draw on the following proposals:
A New Multilateralism for Shared Prosperity: Geneva Principles for a Global Green New Deal, a joint report of the United Nations Conference on Trade and Development and the Global Development Policy Center (GDP Center) at Boston University, with a roadmap for rebuilding the rules of the global economy toward the goals of coordinated stability, shared prosperity, and environmental sustainability.
Reforming the Bretton Woods institutions to Support a Global Green New Deal, a report by Miriam Brett that proposes policy reforms to the IMF and World Bank that would realign their goals in a manner that addresses the climate crisis.
Green New Deal vs. Trump’s NAFTA Deal, a Sierra Club analysis on how the current NAFTA deal supported by the Trump Administration runs counter to Green New Deal objectives.
Building upon these reports, this panel of experts analyzed what a Green New Deal means for US engagement in international financial institutions. Additionally, the discussion explored the ways a reformed multilateralism can support sustainable development, economic justice, and a green global economy, while overcoming the historical roadblocks erected by banks, corporations, and their allies in government.