RESOLUTION EC 131

FORUM: ECONOMIC COMMITTEE

QUESTION OF: Measures to Promote Sustainable Capitalism

SUBMITTED BY: China

CO-SUBMITTERS:Cuba, DR Congo, Angola, Greece, Central African Republic, Ecuador, Ethiopia, ITALY, Mexico, Poland, Somalia, Venezuela.

STATUSPassed

THE ECONOMIC COMMITTEE,

 

Noting with deep concern the United Nations’ August 2020 policy brief: ‘‘Education during COVID-19 and beyond’’, which reports the disruption in education during the pandemic, 

 

Further Noting that the HDI of a country can vary in a great range showing that there is a large gap between the ability of the countries in combating issues, 

 

Reaffirming its conviction that sustainable initiatives taken by large firms would contribute significantly to altering consumer habits and ensuring the wellbeing of peoples and the planet at large, 

 

Defining sustainable capitalism as an economic system that aims to preserve the long-term maintenance of the well-being of society across generations,

 

Recognizing the current problems of modern-day capitalism that hinder its sustainability; the depletion of fossil fuels, the relentless pollution of the environment, the imbalance of prosperity, dominance of monopolies/oligopolies in the economy, and the increasing rate of global warming,

 

Deeply disturbed with income inequality and inequity in opportunities based on race and gender, and how it stagnates social mobility and sustainable economic growth, especially in the developing countries, 

 

Reaffirming the dangers of unnecessary, heedless and long-term unviable government intervention for the individual and the collective,  

 

Convinced of the economic and social issues of having monopolies and oligopolies gaining market dominance and decreasing opportunities for those with less capital, 

 

Emphasizing the intrinsic relationship that measures promoting sustainable capitalism have with equitable access to sustainable development and the eradication of poverty, 

 

Having examined the 2020 Environmental Performance Index done by researchers of Yale and Columbia universities, which arranges countries in accordance with their degree of environmental effectiveness during the year, and the 2020 Index of Economic Freedom performed by the Heritage Foundation, which ranks nations by their performance in rule of law, government size, regulatory efficiency, and open markets, 

 

Recognizing that there is a positive correlation between the level of economic freedom and the environmental performance of nations, 

 

Guided by Al Gore’s and David Blood’s ‘A Manifesto for Sustainable Capitalism’,

 

Aware of the environmental externalities which affect uninvolved third parties that can originate from some production processes and trade practices,

 

  1. Calls for the integration of nutrition resilience planning and collaboration with food-security nutrition programs and sustainable agricultural efforts through means such as but not limited to:
    1. establishing coordination bodies that would manage development policy support, keeping in mind various sectors and stakeholders that would also provide aid in developing, researching, monitoring, and evaluating the effects of targeted nutrition measures in order to understand the best practices for developing sustainable agricultural practices
    2. including Disaster Risk Management (DRM) in the establishment of policy frameworks, by means such as but not limited to establishing emergency coordination bodies and initiatives to deal with DRM and nutrition resilience considering economically and socially disadvantaged groups including children, women, and regional minorities
    3. improve capacity building of individuals and organizations through support from developed countries in the form of knowledge transfers and professional training programs to successfully implement the appropriate measures and increase job opportunities;
  2. Encourages countries to implement pro-market economic policies, such as deregulation, reduction of trade barriers, and competition, and continue protecting private property rights, specially including marginalized sectors like smallholders, indigenous groups and women (in regards to inheritance) with a solid and transparent judicial system;
  3. Further Suggests member states to increase the efficiency of government measures aimed at reducing poverty by means such as but not limited to strengthening the management of public finances and financial institutions and addressing reasons for the exclusion of disadvantaged groups including children, women, and regional minorities to ensure transparency and accountability in the planning and implementation of measures aimed at reducing poverty;
  4. Further Encourages the Joint Programme on “Accelerating Progress towards the Economic Empowerment of Rural Women” (JP RWEE) in its efforts to ensure rights and sustainable growth for women in rural areas in initiatives such as but not limited to the Purchase for Progress (P4P) initiative guaranteeing access to markets for smallholder female farmers, capacity development through workshops, volunteers, and demonstrations, as well as aims to remedy the unequal distribution of assets at the household level;
  5. Supports investments in education to improve inequities between race, class, and gender, and technology through means such as but not limited to:
    1. the creation of an exchange program between developed and developing countries in order to facilitate exchange of information, and to increase access to opportunities for low income countries and students
    2. the provision of aid towards low cost education programs, particularly for women and minorities, to better facilitate student learning and ensure equality in the academic realm
    3. working towards the gradual and cautious reopening of educational institutions to act upon the issue of educational disruption, that has threatened sustainable capitalism in the human realm, and the future of sustainable development;
  6. Recommends more research on how to elevate the currently functioning progressive tax system and ways the system compares to the flat tax system in general by:
    1. creating educational content on the importance of this topic by:
      1. addressing and taking into consideration how a bad system can affect the wellbeing of the lower class
      2. increasing the amount of seminars and conferences on the distinction between progressive and flat tax and comparing them in means of pros and cons
      3. bringing up this conversation in the university environment and making young minds receiving an academic education on economy debate this, both externally and internally
    2. asking from objective professionals to collect data concerning:
      1. which parts of progressive taxation seems to fail the general public and seems to cause the most trouble
      2. Hold surveys to get the general public opinion and analyse the obtained data by taking into account the questioned people’s financial situation, nationality and age;
  7. Asks for the United Nations Commission on Science and Technology for Development (UNCSTD) to create a task force consisting of UN officials called the Sustainable Economy Education Committee (SEEC) to educate individuals and member nations on sustainable capitalism and green energies, which would:
    1. consist of UN-approved business scholars and professors, and environmental conservation scientists
    2. educate any willing individuals age 16 and up by providing in school or public seminars, delving deeper into these topics, and would:
      1. be decided by having schools and colleges apply to an education register through the SEEC website
      2. host virtual seminars through the SEEC website
    3. provide an educational symposium called the SEEC Symposium for major politicians from member nations to educate them on how sustainable capitalism pertains to the global economy, their own countries economy and ways to implement it successfully
    4. work towards revising economics courses, ensuring that topics discussed in-depth include sustainability in business and consumer practices;
  8. Approves wealth taxation when it is destined to investments in quality education, science and technology development, especially in developing countries:
    1. Wealth taxation must not be excessive, and countries must have liberty for defining the rates 
    2. Taxation might increase or decrease from one year to another, if considered to be necessary 
    3. Investments in quality education can vary from construction of schools and universities, development of technology for online learning, increase in teacher salary, school supplies, and renovation of schools and universities;
  9. Further Recommends all member nations to adopt a mechanism of pollution taxation and tradable permits, rather than outright bans on products in order to ensure that negative externalities inflicted upon third parties are mitigated through the increased costs that firms will incur if their operations are harmful to the environment, further increasing government revenue in that case;
  10. Urges to reinstate the necessity of a gradual and cautious reopening of educational institutions in every country to immediately act upon the issue of educational disruption, which is not only a threat to sustainable capitalism in the human realm, but to the future of sustainable development altogether as well, while recognizing that the reopening of educational institutions may be difficult for some member states at the current time, and as such also affirms the need for the establishment of a high quality distance learning framework
  11. Calls upon nations to introduce policies into the frameworks in their legal systems that will be able to promote the growth and development of systems of microcredit and MFI’s to increase financial inclusion of the impoverished in all Member Nations including but not limited to:
    1. Pinpointing and propagating the improvement of financial assets and capital of a stable nature
    2. Research into the available methods of mobile banking that are available to the citizens and the development of a more user-friendly interface to increase attraction towards such forms of mobile banking
    3. Awareness building campaigns for the use of cellular mobile technology in being able to transfer funding and being less culpable to cases of fraud and cybercrime, and provide more transparency as to why it is safe for clients to use net banking platforms.