Discover how GPI addressed major criticisms of the international public finance system and aid. Global Public Investment is the closest thing to a new and shared vision for a universal and lasting transformation of the international development architecture.
Read it NowExecutive Director of UNAIDS and an Under-Secretary-General of the United Nations
GPI in an era of inequality
Professor, University College London.
Founder, Institute for Innovation and Public Purpose
Putting the Common Good at the centre of economic transformation
Senior Advisor, NORAD
Director, NORAD
Foreword
Executive Director, Public Interest
Professor of Economics, LSE
GPI and a global wealth tax
The report brings values-based arguments about GPI’s potential for decolonisation and equity, rebuilding multilateralism, international solidarity and trust, and upholding human rights principles. Puts forward practical arguments for GPI’s potential and shows that every region in the world has cause to adopt a GPI approach.
Enjoy the complete report or discover sections and individual contributions.
In the last few years, Global Public Investment has moved from transformational proposal many thought impossible to strategic blueprint most now think necessary and feasible. It’s time to make it a reality.
“We cannot simply continue with more of the same and expect a different result.”
“Our government seeks a more comprehensive and balanced approach to international development cooperation.”
“A new system geared towards solving truly common problems must be based on equitable relationships between countries.”
The world needs to move from ad hoc crisis response to a structured approach, allocating international public finance to be invested wherever the shortfalls are greatest.
“All dollars are not equal. It is not just the quantity of money that matters; the type and quality of money are just as important.”
“GPI puts the global common good at the heart of international public finance.”
“GPI serves the international community with an alternative way of confronting crisis and taking action.”
“Narrow views of the world, vested interests and lack of openness to collective commitments make the task difficult, but it is absolutely necessary nonetheless.”
“It makes no sense to consider the political and economic institutions we have today as the end point in human development.”
“GPI [is about] confronting market failure and distortions caused by mispricing.”
“GPI moves aid away from a ‘nonsensical’ financing model that deppends on an anual begging bowl.”
“We need to co-create a new architecture that is representative, effective and respects the dignity of all countries. GPI is the beginning of that.”
“We need more money to tackle global challenges, a period of focusing on resilience rather than growth, and a fair global burden sharing for contributions.”
“The concept of the GPI restores the dignity of African countries.”
“It is not yet universally understood that inclusive decision-making and governance leads to better outcomes.”
Supporters of GPI must consider what would incentivise different regions and countries to take part in its co-creation. High-income countries will need to see national as well as global benefits, while less wealthy countries will want their voice and influence to increase, as well as guarantees of direct benefits from an evolved global system.
“GPI has potential to transform lives in Africa based on its premise to address the systemic issues that plague the existing financial mechanisms.”
“GPI has the potential to unlock Africa’s potential for sustainable growth.”
“The conventional public finance model doesn’t recognize mutual effort.”
“In particular, GPI holds the potential to transform Africa’s healthcare landscape.”
“Global Public Investment should focus on creating enabling conditions for poor countries to address poverty eradication.”
“The concept of GPI could be utilised to establish a permanent, innovative and sustainable multihazard, all-crises financing mechanism.”
“A GPI approach lends itself well to the established architecture and processes in the region.”
“Grounded in the principle of universal access, GPI has the potential to transform current challenges into opportunities, enhancing trust.”
“The GPI model’s twin pillars – prioritizing public financing and fostering effective governance structures – echo the imperatives of middleincome countries, especially within the Latin American context.”
“Incorporating a territorial perspective into international cooperation is pivotal.”
“The complexity of the challenges we face as humanity requires working in an increasingly multidisciplinary and coordinated way. “
“A main concern of GPI is maintaining social cohesion globally by reducing inequality and extending the provision of the most basic human needs.”
“The principles of GPI (all contribute, all decide, all benefit) lie at the heart of the EU’s internal financial architecture.”
“GPI can not only begin to redress serious historical injustices, it can also bind us together in a common struggle.”
“GPI brings powerful ideas that can inform smart policy.”
We are entering a new era in history, where our planetary security will depend on the extent to which we can improve international cooperation to ensure the supply of essential global public goods and services (such as vaccines in a pandemic), to protect the global commons (such as the polar ice caps), and to secure the right technology, infrastructure and institutions.
“A vigorous drive is needed to mobilize global public investment for conserving biodiversity and ecosystem services.”
“A Global Public Investment approach would allow us to truly leverage the value of climate resilience for long-term prosperity.”
“Stresses on the world’s oceans due to climate change and global population increases are likely to intensify, further increasing financing needs.”
“The call for a new, inclusive, and dynamic international finance system that aligns with our global aspirations through long-term, reliable investment in global public goods has grown stronger.”
“When it comes to elevating community expertise, GPI offers a concrete plan for a transformative way forward.”
“A GPI approach would enable countries to achieve the human right to health and enable all populations to benefit from the fruits of science.”
“GPI requires a change of mindset among policymakers in countries all around the world.”
“GPI is a concept that can help nudge our lastcentury thinking into 21st-century reality.”
“Developing this new system means building the GPI principles into the current global financial architecture for humanitarian response.”
“In marrying GPI with NEAR’s localisation policy, we envision a future where global public funds serve not only as an incentive for locally led action, but also fuel a shift in the power balance of aid.”
“One potential area for GPI is national, regional, and global care value chains.”
“Universal systems of social protection are building on the same basic principles of solidarity as GPI.”
Over the coming months and years, GPI needs to secure buy-in through engagement with a wide range of stakeholders, including governments at all income levels, multilateral organisations and civil society groups, as well as social movements and publics.
“Global Public Investment offers a more effective and equitable way of structuring how we prioritise international public needs.”
“Change will only be achieveable if committed citizens raise their voices.”
“roundtables have emphasised the need to decolonise aid, mobilise fresh money, shift away from donor dependence, and shape narratives in our own terms to address the complexity in access, cost and decision-making in the current global financial architecture”
“There may be no greater human rights imperative than working to restructure the global economy towards delivery of broadly shared goals for the global common good.”
“GPI is one piece of a wider jigsaw of economic, social and political reforms needed to create a just and sustainable world.”
“As the inheritors of the consequences, we cannot risk being excluded and must actively participate in building a better future.”
“Global Public Investment needs the right governance in place, with the UN at the centre.”
Advocates for GPI should
call for greater awareness
and call out power
dynamics and exclusionary
practices across all levels
of engagement.
“GPI builds a sense of solidarity, cooperation and global community.”
“Co-creation in Global Public Investment has the potential to drive transformative change.”
“Embedding the principles of Global Public Investment in the governance of global institutions is starting to look less like an aspiration and more like a geopolitical reality.”