New Rules for Global Finance is a coalition of development, human rights, labor, environmental, and religious organizations and scholars dedicated to the reform of the global financial architecture in order to stabilize the world economy, reduce poverty and inequality, uphold fundamental rights, and protect the environment.
The New Rules for Global Finance Coalition started in 1998 in response to the Clinton Administrations challenge to reform global financial architecture to prevent future financial crises such as the Asian crisis. The members of the New Rules Coalition–academics, activists, and policy makers from developed and developing countries–are committed to a future for all that is equitable and environmentally sustainable. We recognize that financial resources can and must be harnessed for this vision to become a reality. We further recognize that with the existing rules and institutions, myriad financial crises harm the poor and the environment first and most seriously. Therefore, through technically expert and inclusive dialogues we analyze existing financial institutions and processes to propose alternatives that will bring about more equitable and environmentally responsible results.
The agenda of New Rules is driven by its members and their contributed services. We have challenged the rigid and often counter-productive Washington Consensus policies. We explored the merits and feasibility of a currency transaction tax (Tobin Tax). In close collaboration with developing country governments and NGOs, we are committed to the implementation of the Consensus Statement of the UN Financing for Development conference.