International Taxation Alternatives and Global Governance (Global INSIGHTS‪)‬

In New York on 20 September 2004, world leaders reaffirmed their commitment to the global fight against poverty and hunger at the Summit for Action Against Hunger and Poverty and endorsed the campaign to gather necessary funds through both traditional and innovative mechanisms to assist in that fight. (1) This initiative builds on the Geneva declaration adopted in January with leadership from the presidents of Brazil, France, Chile, and Spain and UN Secretary-General Kofi Annan--the "Quintet Against Hunger." (2) Financing such efforts is always a problem; proposals have included taxation on carbon emissions, financial transactions, and arms trade along with the creation of special drawing rights (SDRs) and an international financial facility. On 20 September, the World Commission on the Social Dimension of Globalization presented A Fair Globalization: Creating Opportunities for All, (3) which also suggested taxing greenhouse gas emissions and certain financial transactions to bankroll a U.S.$50 billion fund to fight poverty.