Financial Transparency Coalition

WASHINGTON, DC – Global Financial Integrity (GFI) today called on leaders of the G8 to concretely tackle the issue of illicit financial flows and end tax haven secrecy when they meet this weekend at Camp David. Illegal capital flight costs the developing world roughly $1 trillion per year, according to GFI research.

In many ways their request was simple. Bread. Freedom. Social Justice. Those are things most of us can agree are human rights. And in January of 2011 when protestors took to the streets in Egypt, and chanted “Aish, Horreya, Adala Egtema’eya” (“bread, freedom, and social justice”) they were calling not just for political reform, but for economic and social reform, as well. And while their slogan reflects the complex interdependence of those forces, none of them can be attained with chanting alone. The advantage of political uprisings is that they provide quick headlines. They may focus attention on a singular,...

Large amounts of money are needed to address the impacts of climate change. If we succeed in limiting global warming to 2°C, this will still require as much as US$275 billon. A new report released by Eurodad calls into question the latest desperate initiative of donors to fill the gaps in public climate finance: investing in the private sector with the aim of leveraging additional funds. Rich countries promised to mobilise resources to help developing countries deal with climate challenges. However, they are failing to meet their commitments. According to the World Resource Institute’s preliminary analysis of the Copenhagen’s Fast...

WASHINGTON, DC – As details surfaced today connecting the illicit outflow of assets from China in the suspicious death of British businessman Neil Heywood last November, Global Financial Integrity (GFI) highlighted China’s place as the largest victim of illicit financial outflows. The latest research from GFI estimates that the Asian nation suffered US$2.74 trillion in illicit financial outflows over the decade ending in 2009, more than quintupling the outflows from the next largest victim of illegal capital flight.