On 10 February, at the United Nations in New York, a statement was delivered on behalf of the Civil Society Financing for Development (FfD) Mechanism, calling for a stronger human rights foundation in the 4th International Conference on Financing for Development (FfD4). This upcoming conference, set to take place in Seville in 2025, will bring governments together to assess progress on global financial commitments and shape the future of international economic cooperation.

The FfD process was established by the United Nations to address systemic issues in global economic governance, promote sustainable development and ensure the mobilisation of financial resources for development. Its preparatory process involves negotiations among UN Member States, consultations with civil society and other stakeholders, and the drafting of an outcome document that will shape global financial policies. The Zero Draft, released as a basis for discussion, serves as a key milestone in this process, outlining proposed commitments and guiding debates on issues such as debt justice, taxation, social protection and public services. With most of the Sustainable Development Goals (SDGs) severely off track, the FFD process is a critical opportunity to reform financing at all levels, including much-needed changes to the international financial architecture.

The statement, drafted by a group of human rights organisations, including the Global Initiative for Economic, Social and Cultural Rights (GI-ESCR), was delivered by Human Rights Watch. It urged states to build human rights-based economies, regulate private actors in public service delivery and prioritise public services over private sector expansion. It also welcomed the inclusion of social protection in the Zero Draft but called for a firmer commitment to universality. Additionally, it highlighted structural inequalities in tax and debt systems, advocating for progressive taxation and accountability for international financial institutions. It further criticised IMF-led austerity measures for undermining social security and public services, and called for equitable, decolonial and sustainable financing mechanisms.

In our recently published position paper, we analyse the Zero Draft of the outcome document for FfD4, assessing its strengths and key shortcomings. While the draft includes some promising elements, it does not go far enough in pushing for the structural changes needed to address global inequalities and uphold human rights within planetary boundaries. The paper highlights critical gaps, particularly in relation to the privatisation of public services, the burden of unsustainable debt on the Global South, and the inadequacies of climate finance mechanisms. It also sets out proposals for progressive tax reforms, stronger corporate accountability, and a development model that prioritises public investment with human rights at its core.

The full statement is included below:

Thank you, Chair.

I hereby speak on behalf of Human Rights Watch and the Civil Society FfD Mechanism.

While the Zero Draft mentions human rights as a cross-cutting issue, it fails to recognise the critical role of economic, social and cultural rights and the right to development as guideposts to conduct the necessary economic transformation to deliver on development finance goals and a fairer Global Financial Framework. We call on states to explicitly ask for the building of human rights-based economies, a concept that has long been developed in the Global South and North, and which the UN High Commissioner for Human Rights has been championing recently.

Accordingly, FfD4 should ensure that public services are delivered in alignment with human rights standards, adequately regulating private actors where they may be involved, preventing the risks of privatisation and commercialisation that often reduce quality and accessibility. Development banks must prioritise public services over private sector expansion, ensuring accountability and compliance with human rights – including rights of women and gender-diverse people – racial and climate justice.

It also needs to deliver on social security. We are pleased to see social protection included in the Zero Draft, which is an important step forward from the elements paper. However, it is not included in the action areas and weakens past commitments by using vague terms like 'essential' instead of reasserting universality. All countries have committed that “'everyone has the right to social security' as stated in the UDHR and to establish social protection floors through ILO Recommendation 202. Failing to reaffirm universality would amount to backtracking on these obligations, disproportionately affecting women and marginalised groups.

Additionally, the next draft should acknowledge structural inequalities in international tax and debt negotiations. On debt, the current system results in a massive transfer of resources from the Global South to the Global North. This undermines human rights, including the right to development, as essential resources are diverted away from funding quality public services and social security, hindering compliance with the maximum available resources’ and Extra Territorial Obligations (ETO) of states. Advocating for measures like progressive taxation of corporations and high-net-worth individuals, combating illicit financial flows and holding international financial institutions accountable would strengthen the draft’s human rights foundation.

Moreover, the Zero Draft mentions the IMF and MDBs and their role in financing both social security and public services. These institutions, as specialised agencies under the framework of the UN, are also bound by international human rights law, both in stable times and during crises. Too often, IMF-led austerity measures have resulted in cuts in social security and public services, prioritising narrowly targeted, time-bound schemes over rights-aligned systems.

As we advance in the FfD4 process, we urge a strong commitment to human rights, substantive gender equality, universal, rights-aligned public services and social security, backed by equitable, decolonial, antiracist, antisexist and sustainable financing mechanisms, as the ongoing process towards a UN Tax Convention encouragingly exemplifies.

Thank you.