Civil Society dialogues on sustainable finance Europe – Republic of Korea

The Alliance between the South-Korean CSO People’s Solidarity for Participatory Democracy (PSPD) and Eurodad was set up in January 2012 with the aim of strengthening cooperation between civil society in the EU and in the Republic of Korea. Through experience-sharing and mutual learning, the Alliance enhances their capacities to engage in policy dialogues and to coordinates joint advocacy towards a more sustainable global finance. This project is implemented with the financial support of the European Commission. Through this alliance, PSPD and Eurodad are opening an important channel for knowledge and experience sharing, and joint advocacy towards more sustainable global finance.

Global power balances are changing

Emerging economies are gaining more and more economic and political importance while traditional powers are declining. The world is facing more and more global challenges that call for a global answer. A global civil society is therefore needed in order to address global policy. However, CSOs have been behind on working together to monitor what our governments do. While both European and Korean civil society organisations have solid expertise and long-standing track record in policy and advocacy on responsible and sustainable finance for development, so far there have been very few interactions. PSPD and Eurodad aim to challenge decision makers together, at the national, regional and global levels.

Who are we?

PSPD works on institutionalisation of civil participation in democracy, state power and socio-economic reform. Especially, the People’s Economic Committee at PSPD suggests alternatives for sound market order and monitors unfair trading activities. CSOs in the ROK have proliferated since the beginning of the democratisation process in the 1980s and have been an important factor in deepening the democratisation process. The PSPD has also developed in-depth analysis and expertise on the issues of financial institutions and sustainable development. Eurodad is a CSO network conducting research and advocacy on development finance. Together with its members, Eurodad pushes for finance to be conducive to development. Responsible finance standards is at core of everything we do. Therefore, in 2011, Eurodad published a Responsible Finance Charter which sets out standards that would make loans and investments fit for development.