Action Alert


Fair trade or free trade? Let your voice be heard on Minnesota’s future!


The Obama Administration is negotiating two new mega trade deals (one with Pacific Rim countries, another with Europe) entirely in secret, with the goal of further expanding the NAFTA-model of free trade. These trade agreements could have major impacts on Minnesota's farmers, workers, small business owners and rural communities. They could limit Minnesota’s ability to support local food and energy systems and grow local businesses. In order to stay up to speed, Minnesota has set up a new Trade Policy Advisory Council (TPAC) to advise the state legislature and Governor.


TPAC wants to hear from Minnesotans: What concerns do you have about free trade? What role could TPAC play in the future? Now is your opportunity to have a say in our future trade policy. Complete the survey and let them know future trade negotiations should be public, not secret. Help ensure the voices of all Minnesotans are heard in the development of trade agreements and that they protect local control and our quality of life. The free trade model has failed for Minnesota and we need a new approach to trade. Help ensure the voices of all Minnesotans are heard before trade agreements are completed, and that they protect local control, our natural resources and our quality of life.


Please take five minutes and complete the survey. To find out more about these trade agreements, go to iatp.org/tradesecrets.

The new climate debt

Posted June 14, 2010 by    

Climate

As combined economic entities, members of the International Emissions Trading Association (IETA) exceed the size of most governments. So, when IETA made a new financing proposal just prior to last week's UN global climate talks in Bonn, attention was paid.

IETA's 170 transnational financial, law, energy and manufacturing firms are aggressively pushing for a global system for trading carbon emission credits and their financial derivatives. Their latest proposal, “green sectoral bonds,” are being sold as the only option for developing countries to access financing for projects that reduce greenhouse gas emissions.

Like conventional bonds, the green sectoral bonds would allow developing countries to borrow money from private investors to meet greenhouse gas reduction targets—the principle to be paid back with interest over time. The proposal represents a major shift in climate finance discussions.

As IATP's Steve Suppan writes in a new analysis of the IETA proposal, “If implemented, the proposal would transform climate finance from a public fiduciary duty primarily funded by developed countries to a new source of developing country debt to private creditors and of profits for IETA members.”

While it would seem that a proposal that deepens the debt of developing countries already battling an economic crisis would be dead on arrival, IETA argues that developed countries are facing their own budget shortfalls and simply don't have the resources for additional climate aid. Unfortunately, the longer global climate talks stumble, the more attractive IETA's proposal may become.

You can read Steve's full analysis of the IETA proposal here.




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