AWID publishes brief advocating for stricter financial regulation

The Association for Women's Rights in Development (AWID), published a policy brief, Illicit Financial Flows: Why we should claim these resources for gender, economic and social justice. This brief is an invitation to advocate for stricter financial regulation, and an end to corporate privileges that are detrimental to the people and planet. It also offers initial policy recommendations to support feminist and gender justice organizations, as well as policy-makers, in influencing relevant decision-making spaces or to potentially complement and deepen the already existing engagement and positions.

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Combatting illicit financial flows (IFFs) is both a question of political will to transform the global financial structure, and a process deeply linked to challenging corporate power nationally and internationally. This brief argues that having an accountable and regulated financial system globally, and ensuring binding corporate accountability based on a human rights framework, is essential to stop the massive drain of public resources, and can contribute to ensuring a just distribution of wealth and power.

Mobilization of 'people's power', including social movements, feminist and gender justice advocates, is more important than ever to counterbalance the power of global elites, for asystemic shift. It is about ensuring enough public resources for the fulfillment of all people’s human rights, through reclaiming corporate profits being drained through IFFs.

This brief provides feminist and gender justice advocates with initial analysis and reflection, to understand IFFs, the context in which they operate and their social and gendered impact. AWID grapples with the fact that economic and financial policies, including those that sustain IFFs, are never gender neutral, rather they are tools to sustain and increase the power of global elites. This brief is an invitation to advocate for stricter financial regulation, and an end to corporate privileges that are detrimental to people and planet. It also offers initial policy recommendations to support feminist and gender justice organizations, as well as policymakers, in influencing relevant decision-making spaces or to potentially complement and deepen the already existing engagement and positions.

Please read the full report here.