Build Back Better: Just Economy
Build Back an Inclusive, Sustainable Economy
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Friends of the Earth envisions a transformation of our economic and financial systems to foster an inclusive, environmentally sustainable recovery. To build back better, we need to:
Tackle monopolies
The Biden Administration should break up corporate monopolies and pursue aggressive antitrust measures.
Meanwhile, Congress should pass legislation to block further mergers in sectors such as food and agriculture, finance, and fossil fuels. They should pass, and President Biden should sign into law, the Pandemic Anti-Monopoly Act. These steps will help curb the massive increases in wealth inequality and corporate consolidation that have occurred in the wake of the pandemic.
Pass a Green New Deal
Congress must pass, and the President must sign into law, a Green New Deal.
A Green New Deal would mobilize trillions of dollars in public investment, particularly targeted towards low-income and communities of color, to help our economies and communities adapt to and mitigate the impacts of climate change.
Create public banks
We must help democratize finance by supporting the widespread creation of local public banks.
Public banks are public interest-driven institutions that allow local communities to bankroll and implement beneficial policies like a Green New Deal.
Utilize economic stimulus tools
Congress and the Biden Administration must utilize the tools of economic stimulus to help people and the planet.
The tax code, federal budget, public spending, government subsidies, etc. can all be used to shift our country — and the world — away from environmentally harmful activities towards a more equitable, ecologically regenerative economy.
Stop international fossil fuel financing
Put an end to destructive government support for fossil fuel and dirty energy projects abroad.
We need to alter lending practices at financial institutions such as the World Bank, the U.S. Export-Import Bank and Wall Street banks that fund polluting activities and harm communities in developing countries.