Dear G8: Please keep your promises at your 2011 Summit in Deauville, France
On May 27th and 28th the leaders of the top eight economies in the world met in Deauville, France for the G8 Summit. The G8 leaders previously made a promise to the world’s poorest people to halve poverty by 2015 and to put people first. With only four years to go on that commitment, they are dangerously off track.
Oxfam is asking the G8 for an emergency plan to deliver the aid they have promised. They must invest in reducing hunger, and health and education in the poorest countries. They must also take action to stop rich companies avoiding taxes in poor countries.
1. Aid commitments
This year, The G8 must start by reaffirming their Gleneagles, L’Aquila and Muskoka commitments, and setting out an emergency plan to deliver the overall shortfall in aid promised of $19 billion.
2. Aid financing options
They must also take seriously the innovative financing options to deliver additional money for fighting poverty and climate change like a global financial transaction tax on banks (known as "The Robin Hood Tax") that could raise up to $400 billion a year. And emissions trading programs for international aviation and shipping and using Special Drawing Rights as capital, ‘green bonds’ could be issued, raising $40 billion per year for clean energy investments in developing countries.
3. Aid finance accountability
Finally, G8 members must implement a mandatory country by country financial reporting by extractive industries. This non-costly measure for G8 countries will enable citizens to hold their governments accountable for the use of huge natural resources revenues they make.
Take action now!
Oxfam is back in action at the G8 Summit in Deauville, France! No matter where you live, you can help us deliver our message and urge G8 Leaders to follow through on their aid promises. Nearly a billion people living in poverty can’t wait any longer. Tweet your wishes to the G8 Leaders using #DearG8 on Twitter and stay tuned here for updates from France!
> Download the Oxfam media briefing: Cooking the Books Won’t Feed Anyone: The G8 Shamefully Try to Cover Their Tracks on Broken Promises (pdf, 100kb)
> Read the G8 France 2011: Deauville Accountability Report (pdf, 1.5MB)