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42. The Brazilian model of Investment Agreements and Socio-environmental Safeguards
- Author:
- Maria Elena Rodriguez and Gabriel de Barros Torres
- Publication Date:
- 03-2018
- Content Type:
- Policy Brief
- Institution:
- BRICS Policy Center
- Abstract:
- With the purpose of contributing to expanding transnational investment flows, Brazil signed, in 2015, a series of Cooperation and Investment Facilitation Agreements (CIFAs) with African and Latin American countries. Among its provisions, the CIFAs feature distinctive characteristics in terms of direct (and indirect) expropriation, corporate social responsibility, dispute settlement mechanisms and national treatment clauses – ultimately, aiming to provide greater legal certainty for investors. However, civil society organizations have warned against the potential impact of this new model of investment agreements on the autonomy of states to establish regulations in the public interest. As such, this Quarterly Brief seeks to analyze similarities and differences between the new Brazilian CIFAs and traditional bilateral investment agreements – as well as to evaluate them in light of alternative frameworks, elaborated by civil society networks, aimed at balancing investment promotion with human and environmental rights protection.
- Topic:
- Civil Society, Environment, Treaties and Agreements, Regulation, Social Justice, Land Rights, and Public Health
- Political Geography:
- Brazil and Latin America
43. International Sustainable and Climate Finance: Where are we and which is the role of China on this?
- Author:
- Alice Amorim
- Publication Date:
- 03-2018
- Content Type:
- Policy Brief
- Institution:
- BRICS Policy Center
- Abstract:
- This brief focuses on climate finance, as it encompasses a substantive part of the resources in this broader sustainability agenda. Having a better understanding of this field is important given the possible risk of other development resources being hijacked by the climate finance rhetoric. The paper also presents updated data on climate finance flows and for the implementation of the 2030 Agenda. Finally, it presents some evidence of how China and Chinese-led financial institutions are becoming key players in this field.
- Topic:
- Climate Change, International Trade and Finance, Regulation, Finance, Risk, and Sustainability
- Political Geography:
- China
44. Trade and Climate Change: Synergies and Conflicts
- Author:
- Ryerson Neal
- Publication Date:
- 07-2018
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Participants from academia and various levels of government gathered in Ottawa to discuss the often underappreciated interplay between the international climate agenda and the global trade system. The trade system has traditionally supported open flows of goods and services by disciplining tariffs, as well as trade-distorting subsidies and regulations. But there is an emerging tension between this approach and the desire of governments to address climate change through potentially trade-distorting domestic regulations and green subsidies. The challenge for policy makers is how to maintain relatively free, undistorted trade, while still giving countries sufficient policy space to implement effective measures to combat climate change.
- Topic:
- Climate Change, Environment, Regulation, Green Technology, and Free Trade
- Political Geography:
- Global Focus
45. China and International Financial Standards: From "Rule Taker" to "Rule Maker"?
- Author:
- Hongying Wang
- Publication Date:
- 08-2018
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Following the global financial crisis, international financial standard-setting bodies granted emerging economies unprecedented representation. Some observers expected the existing system of international financial regulation to be undermined by the larger number of players and their diverging interests from the traditional standard setters. This paper examines whether China, the largest emerging economy, has influenced the international financial regulatory regime. It finds that China has, by and large, been a “rule taker” so far, but points out some important signs of change. It argues that with improved technical capacity, greater stakes in international financial standards and rising structural power, China is poised to increase its participation in the making of international financial standards.
- Topic:
- Regulation, Global Political Economy, and Fiscal Policy
- Political Geography:
- China and Asia
46. Beyond International Standards: Mapping the Future of Capital Markets Regulation
- Author:
- Cally Jordan
- Publication Date:
- 09-2018
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- As a response to multiple financial shocks, international standards have disappointed. Consensus seeking has stifled innovation, perpetuating outdated regulatory concepts at a time of rapid market change. Markets are complex and idiosyncratic; they may not be receptive to efforts toward producing regulatory harmonization and convergence. Alternatives to international standard setting should be explored. Possibilities include fora for experimentation in capital markets regulation, the creation of a set of variegated model capital markets laws and a “restatement”-like treatise.
- Topic:
- Markets, Financial Crisis, Regulation, and Capitalism
- Political Geography:
- Global Focus
47. Addressing Excessive Risk Taking in the Financial Sector: A Corporate Governance Approach
- Author:
- Steven L. Schwarcz and Maziar Peihani
- Publication Date:
- 09-2018
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Excessive corporate risk taking by systemically important financial institutions (SIFIs) is widely seen as one of the primary causes of the global financial crisis. In response, an array of international reforms, under the auspices of the Group of Twenty’s (G20’s) standard-setting bodies, has been adopted to try to curb that risk taking. However, these reforms only impose substantive requirements, such as capital adequacy, and cannot by themselves prevent future systemic collapses. To complete the G20 financial reform agenda, SIFI managers should have a duty to society (a public governance duty) not to engage their firms in excessive risk taking that leads to systemic externalities. Regulating governance in this way can help supplement the ongoing regulatory reforms and reduce the likelihood of systemic harm to the public.
- Topic:
- Financial Crisis, Reform, Regulation, Risk, and Financial Institutions
- Political Geography:
- Global Focus
48. Closing the Enforcement Gap: Community-led Groundtruthing of Environmental Violations in Mormugao, Goa
- Author:
- CPR-Namati Environmental Justice Program
- Publication Date:
- 12-2018
- Content Type:
- Special Report
- Institution:
- Centre for Policy Research, India
- Abstract:
- The Mormugao Port is located at Vasco bay in the Mormugao taluka of Goa at the point where the Zuari river meets the Arabian Sea. This region is home to thousands of fisherfolk from the Karvi community who live along the beaches of Mormugao, Salcete and Tiswadi talukas. It is a natural harbour that provides safe haven for ships and fishing vessels during storms, like it did in 2017 when cyclone Okchi hit this coast. The lives and livelihood of these fisherfolk are intrinsically linked to the activities of Mormugao port as they have had to share their customary livelihood areas – the sea and the beaches – with the port. This has resulted in them competing for space for their daily activities like fish landing, boat parking, net mending, and even housing with the port and its infrastructure development on the landward side, and competing with larger shipping vessels for navigation space and access to certain parts of Vasco bay. It was in this backdrop, that a community led groundtruthing study was initiated in April 2018 by Old Cross Fishing Canoe Owners Co-op Society Ltd, Baina Ramponkar, Fishing Canoe Owners Society, Destierro Fisherman Association – Vasco, Goenchea Raponkarancho Ekvott (GRE) and the Centre for Policy Research (CPR)-Namati Environmental Justice Program with support from concerned citizens of Vasco and the Federation of Rainbow Warriors.This groundtruthing study is also an attempt by the affected community members to understand the environmental impacts of these berths, link them to the regulatory requirements and then push for compliance of the same.
- Topic:
- Environment, Law Enforcement, Law, and Regulation
- Political Geography:
- South Asia, India, and Asia
49. Building Regulations For Faecal Sludge Management: Review of Building Regulations From Indian States
- Author:
- Arkaja Singh
- Publication Date:
- 12-2018
- Content Type:
- Special Report
- Institution:
- Centre for Policy Research, India
- Abstract:
- Getting approvals under the various building regulations applicable to any particular jurisdiction is often the first step in construction and development. The Report ‘Building Regulations for Faecal Sludge Management: Review of Building Regulations from Indian States’ seeks to understand how these building regulations address on-site sanitation, what kind of standards do they impose on developers, and how well do they incorporate mechanisms to enforce these standards. In this report, we look at six states: Andhra Pradesh, Odisha, Rajasthan, Tamil Nadu, Maharashtra, and Uttar Pradesh. We also look at other standards that are applicable to on-site containment of Faecal sludge, and the manner in which these standards get incorporated into the building regulations. We find that context-specific attention to On-Site Containment of Faecal Sludge is only given in very few states, at least within our sample size. Usually, Building Regulations seem to rely on already existing standards such as the National Building Code, 2016. Additionally, the inconsistencies within the bye-laws exhibit a lack of understanding on the issue of FSM, amongst the policy-makers. As Faecal Sludge Management is an issue at the interface of environment, sanitation, and public health, a lack of convergence between various departments of the government is also noticed.
- Topic:
- Environment, Government, Health, Regulation, and Sanitation
- Political Geography:
- South Asia, India, and Asia
50. Taxing multinational corporations in the 21st century
- Author:
- Gabriel Zucman
- Publication Date:
- 09-2018
- Content Type:
- Policy Brief
- Institution:
- Economics for Inclusive Prosperity (EfIP)
- Abstract:
- Globalization and the rise of intangible capital have increased tax avoidance opportunities for large firms dramatically. 40% of multinational profits are shifted to tax havens each year globally and the United States loses about 15% of its corporate income tax revenue because of this shifting. I discuss the evidence on the redistributive effects of international tax competition. I then present a proposal to reform the corporate tax that would remove any incentive for firms to shift profits or move real activity to lowtax places. Contrary to a widespread view, it is possible to tax multinational companies (potentially at high rates) in a globalized world, even in the absence of international policy coordination.
- Topic:
- Economics, Globalization, Regulation, Multinational Corporations, Tax Systems, Economic Policy, and Economic Theory
- Political Geography:
- Global Focus