Our goal is to create a sustainable, just and diverse economic and financial system that serves the well-being of humans and the environment. A new financial system is vital for a new economy where the global challenges - increasing poverty, climate change and deterioration of natural resources - can be equally managed. The WFC requires funding to continue working in this field.
What we champion
The WFC’s Future Finance Commission is working out the causes of the current crisis and developing new approaches to achieving a sustainable economy, including:
Financial markets and the monetary system are at the heart of the world economy. A new financial system is therefore the core of a new economy that is able to cope with the global challenges of poverty, climate change, and the destruction of natural resources. The current crisis widens the political space for change. Given that the financial crisis is linked to the food crisis and the ecosystem crisis, a fundamental rethink is urgently needed. Starting with a reassessment of the rules of finance, the World Future Council Finance Commission will identify the systemic drivers of our current crises and develop concrete policy proposals guiding the transition towards sustainable and equitable growth.
The World Future Council is working on a new definition of the financial system and developing concrete policy proposals. Money and the economy should serve people and the planet; financial markets and the economy should provide opportunities for individual development, social security and well-being for all – including future generations. And this new economy should protect the environment and our resources. The World Future Council's policy proposals for a new international regime are guiding, step-by-step, the way towards a sustainable financial and economic system.
Now online: Future Finance Blog
Our new Future Finance Blog takes a sober look at the real workings of the monetary system. Who controls our money, and who should actually hold the reins? Keep up-to-date at www.futurefinanceblog.org (in German)
Where we present solutions
The WFC has introduced its innovative concept of financing global climate change mitigation with the IMF’s new Special Drawing Rights (SDR) at the international UN climate conferences in Copenhagen, Cancun and Durban, as well as to various governments and the IMF, thereby constantly increasing its visibility and profile. The proposal “Breaking the Funding Deadlock” and the corresponding scientific discussion paper “Financing climate protection with newly created SDRs” explain the proposal in detail. Shorter versions have been published in two online magazines: Digital Development Debates - Rethinking environmental protection: IMF Special Drawing Rights could finance the energy transition and Fair Observer - The 100 Billion Dollar Question: How to Finance the Green Climate Fund.
The Future Finance Commission is developing proposals for a sustainable and just future financial system. What would a system that supports sustainable activities for promoting well-being and social justice for both present and future generations on this planet look like? In view of the international financial crisis, these questions are now more pressing than ever.
Your contact partner
Dr. Matthias Kroll
World Future Council
Phone: +49 (0)40 3070914 25
Email: Dr. Matthias Kroll