We declare a jubilee for climate
Transforming the private financial system from its present role as master of the global, national and local economy, into the economy’s servant, will free societies to channel their investment into developing new systems in which the planet’s natural abundance is shared equitably and sustainably for generations to come. Jubilee is a historic tradition of embracing practical progressive policies needed to prevent social, economic and ecological crises that recognises that those that have amassed the greatest share of the planet’s wealth should do the most to pay to alleviate the crisis. The CoP process is failing all of us and especially those most vulnerable; we must take responsibility and be ambitious, binding the UK to real net zero carbon emissions by 2030 with no creative accounting or overseas reductions.
Immediate abolition of debts
Cancelling unpayable debts, capping interest rates and removing intangible patent and IP barriers for poorer nations will enable the immediate mobilisation of resources and income to improve healthcare and education, incentivising greater equality, sustainable land use and long term, community-led development.
Justice means going further
Increasing funding for mitigation and adaptation while creating powerful legal structures to ensure the payment of loss and damage for the nations least responsible for causing the climate crisis is the right thing to do. Rich countries can easily afford to finance the restoration of stability to the climate. Not doing so will cost more in the long term. It can be funded in part through taxing or breaking up and repurposing the assets of the corporations most responsible for cumulative carbon emissions and environmental damage and the institutions that have enabled them, beginning with those that have knowingly denied or lobbied against climate science for their own self-interest. We must do this while protecting workers’ rights and investing in developing the skills we need for a thriving and sustainable economy.
The ongoing damage caused by human and environmental exploitation will not be addressed by a single change. Law must protect the vulnerable, hold the responsible to account and enforce historic and environmental reparations including payments for loss and damage. People must have the power; the House of Lords should be replaced with a Citizens’ Assembly to act as a jury weighing the effect of policies on all people; not only seeing through the frame of a historically landed elite. Land is the source of human life and equity: social and ecological sovereignty should guide the reforms to land ownership and taxation we need.