“As an international community committed to tackling inequalities and advancing sustainable development, we must put in place the very principles of transparency, good governance and accountability that we so often stand for,” Volkan Bozkir said during the publication of the report of the High Level Panel on International Financial Accountability, Transparency and Integrity for the Achievement of Agenda 2030 (FACTI).
Establish solid principles
In the report on Financial Integrity for Sustainable Development, the FACTI Panel recommends that governments fund critical actions against extreme poverty, COVID-19 and the climate crisis by recovering billions of dollars lost due to the tax abuse, corruption and money laundering.
“Developing countries could not afford to lose resources at the best of times and they certainly cannot afford it now, in the midst of the COVID crisis,” said the President of the Assembly.
Noting that up to 2.7% of global GDP is laundered each year, the FACTI Panel calls on governments to agree to a Global Compact for Financial Integrity for Sustainable Development.
Make the case
Stressing that companies seeking tax-free jurisdictions cost governments up to $ 600 billion annually, the Panel stressed the need for stronger laws and institutions to prevent corruption and money laundering. ‘money and advocated for those who allow financial crimes to be punished.
The report also calls for greater transparency around …
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