WEF comment from Dr Matthias Kroll, Chief Economist, World Future Council

For a number of years, climate change has been on the agenda of the World Economic Forum in Davos – but until today, without any notable results, says the World Future Council, and suggests a “climate bailout”, similar to the bank bailout in 2008, to limit global warming to the 1.5°C threshold agreed in Paris. Dr. Matthias Kroll, Chief Economist of the World Future Council, says in his statement…

Euro crisis: World Future Council calls for “Irish debt cut” for Greece

Hamburg, 19 June 2015 – The Euro states collectively caused the crisis and must therefore solve it together. In an appeal to overcome the crisis, financial experts of the World Future Council call for an end to austerity measures to restore European social standards in Greece.

Read more

Capital Markets Union a gift to the financial sector

Hamburg, 8 June 2015 – Today the European Commission meets in Brussels to discuss steps to a capital markets union. Their focus on reviving securitisation shows that they have still not learnt the lessons of the financial crisis, says the World Future Council.

Read more

ECOFIN consultations on Financial Transaction Tax (FTT): Exceptions undermine effectiveness

Press release – for immediate release

Hamburg, 09 December 2014 – Today, the Economic and Financial Affairs Council (ECOFIN) is discussing the concrete design of a financial transaction tax (FTT). The European Commission presented its proposal for an FTT in 2013, to make the financial sector contribute to the recovery of the EU economy. The planned FTT was broad based, applying to all financial transactions on financial instruments without exceptions. When the ECOFIN discusses the tax today, however, a number of exceptions are up for consideration. In recent years, financial sector interest groups have been pushing to weaken the tax where it is most effective. High up on their wish list are derivatives and risky repurchase agreements as well as powerful pension funds and government bonds.

Read more

Ahead of the G20-Summit in Brisbane: World Future Council calls for regulation of the shadow banking system

Press release – for immediate release

Hamburg, 14 November 2014: The G20 have made the regulation of shadow banking a top priority of their summit in Brisbane, Australia this weekend. At the meeting of the German Council for Sustainable Development in June, German Chancellor Angela Merkel had stressed the urgency of effective shadow banking regulations.

Read more

Study: Global austerity costs 2.3 trillion U.S. dollars annually

Hamburg, 14.01.2014 – As a consequence of austerity policies in many countries, millions are deprived of work and vast production opportunities remain unused. A studyby the German-based World Future Council (WFC) states the value of lost production at 2.3 trillion U.S. dollars annually. This corresponds to the gross domestic product of the United Kingdom. The Eurozone alone loses at least 580 billion Euros annually as a result of public austerity.

Read more

The 100 Billion Dollar Question: How to finance the Green Climate Fund?

World Future Council calls for the use of Special drawing rights by the IMF

Durban, Hamburg December 7th, 2011. Today the World Future Council called upon delegates of the UNFCCC summit in Durban to consider using the Special Drawing Rights currency of the International Monetary Fund (IMF) in an innovative way in order to help developing countries switch to renewable energy. According to the concept introduced at an official side event of the UN conference today, such an approach would break the funding deadlock of the Green Climate Fund. More than 100 states had committed in Cancun to establishing this fund, which would provide 100 billion dollars per year from the major CO2 emitters for developing countries to adapt to and mitigate climate change. During the last days of the climate conference in Cancun, however, delegates could not solve the question of where the money should come from.

Read more

COP 15: World Future Council breaks the funding deadlock

Press release – for immediate release

Copenhagen, December 16th. “Stopping climate change will cost hundreds of billions of dollars, not stopping it will cost much more – and take countless human lives”, said Jakob von Uexkull, Founder of the World Future Council and the Right Livelihood Award at a press conference in Copenhagen. In order to provide large sums for adaptation and mitigation in the developing world, he urged the creation of Special Drawing Rights by the International Monetary Fund (IMF). At the same time he argued against a similar proposal made by George Soros last week, criticizing the billionaire investor’s suggestion to make developing countries pay the money back.
Read more

Copenhagen must signal for a Zero Carbon Economy

Press release – for immediate release

World Future Council calls on UN Climate Conference

Hamburg, December 6th. The World Future Council today called upon the delegates of next week’s UN climate conference in Copenhagen, Denmark, to surpass the pitifully poor promises to date and unleash the Zero Carbon Economy.
Read more

World Future Council proposes a new way to finance the Renewable Energy Transition

Press release – for immediate release

World Future Council calls on UN Climate Conference

Hamburg, October 29th 2009. The World Future Council proposes the issuing of new money by the International Monetary Fund to finance the global renewable energy transition and the achievement of the Millennium Development Goals. EU leaders meeting in Brussels on October 29th – 30th should authorize the creation of necessary funds through quantitative easing. “The total upper limit for the creation of this new money should be constrained only by the need to ensure that performance targets are met and the new goods and services are produced as contracted”, says Jakob v. Uexküll, founder of the World Future Council.
Read more