Responsible Markets and Fair Fiscal Policy | Recommendation
We call for the private sector to now act as one to exist sustainably, in particular through standards and access to transparent, reliable data. Efficient markets require equitable taxation and carbon pricing to reinvest in a just transition. Carbon neutrality must be a core object of capital deployment.
3.2 Introduce a fair and differentiated global carbon price no later than 2023. Support the swift implementation of the OECD’s BEPS 2.0 regulations to tackle international tax injustices. Promote a just and transparent international tax system and ensure tax subjects remain compliant to their jurisdictions. 3.3 Commit to collectively contributing at least 50 % of the IPCC’s US$ 3.8 tln per year energy finance estimate to advance SDG 7. Ensure public development banks accelerate progress towards this goal by crowding-in investments from the private sector, in line with the Framework for Aligned SDG Financing. Immediately introduce legislation requiring MNCs and public companies to publish Scope 1, 2, and 3 carbon- neutral transition plans. Decarbonise the portfolios and operations of public and development financial institutions, requiring full adoption of sustainability-linked and transition financing.
3.1 Establish global disclosure standards in compliance with those of ISSB providing transparent, measurable and comparable information on ESG by the end of 2022. Design standards to involve all economic players with a transversal approach in line with the World Business Council for Sustainable Development’s PSA. Mandate players to disclose the impact of their activity on the economy, society and environment to stakeholders, investors, employees and consumers, in order to provide youth with the information necessary for decision-making and advocacy work.
YOUTH7 2022 COMMUNIQUÉ 13
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