As the Group of 20 Leaders prepared to meet in Cannes to discuss and shape global economic policies, 190 organizations and networks from over 52 countries called on hem to give primacy to their duties to respect, protect and fulfill human rights in commitments on financial regulation.
The signatory organizations demanded action on the following issues on the agenda of the G20:
–Endorsement of worldwide stimuli measures according to human rights principles;
–Reforms to prevent speculative activity in financial markets from undermining the enjoyment of human rights;
–Action to limit the damage to public funding of financial institutions that collapse due to excessive risk-taking
–Regulations of bank capital requirements consistent with human rights standards;
–Agreement to increase the relative fiscal pressure on the banking sector and to cooperate to increase transparency and mutual accountability in revenue mobilization;
–An agreement to drastically reduce greenhouse emissions which contribute to climate change