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500+ Experts Worldwide Call for Global Panel to Address ‘Inequality Emergency’
"Clear and proven steps can be taken to reduce it and build more equal societies and economies," wrote economists and other experts, "which are the fundamental foundation stone of a successful future for us all."
Nov 14, 2025
Emphasizing that economic inequality is "a policy choice," more than 500 economists and other experts on the global wealth gap are endorsing a call made earlier this month in the first-ever G20 report on inequality: The "inequality emergency" must be confronted by new international body inspired by the United Nations' panel on climate change.
The creation of an International Panel on Inequality (IPI) was a central recommendation of the landmark report set to be presented next week at the G20 Leaders Summit in Johannesburg, and renowned economists including 2024 Nobel economics laureate Daron Acemoglum, Thomas Piketty, Isabella Weber, Ha-Joon Chang, and Jason Hickel were among those who signed a letter Thursday urging the creation of the committee.
The inclusion of economists, climate scientists, epidemiologists, historians, and experts from a range of other disciplines "reflects a key fact," said the signatories. "High levels of economic inequality have a negative impact on every aspect of human life and progress, including our economies, our democracies, and the very survival of the planet."
"Just as the Intergovernmental Panel on Climate Change (IPCC) has played a vital role in providing neutral, science-based, and objective assessments of climate change, a new International Panel on Inequality would do the same for the inequality emergency," reads the letter, which was also signed by global economic leaders including former US Treasury Secretary and Federal Reserve Chair Janet Yellen and former World Bank top economists and leaders.
Since its inception nearly four decades ago, the IPCC has provided governments with the most up-to-date scientific information about planetary heating and its impacts. Its assessments have informed the creation of the United Nations Framework Convention on Climate Change; the 1997 Kyoto Protocol, which subjected wealthy countries to emissions targets for the first time; and the 2015 Paris Agreement, which has required countries to develop and implement plans to draw down planet-heating emissions.
An IPI, said the experts on Thursday, "would provide policymakers the best, most objective assessments on the scale of inequality, its causes and consequences, and consider potential solutions."
"We believe this is in the interests of policymakers from across the political spectrum, who see the importance of this issue and the need to base responses to it on data and evidence and sound analysis," reads the letter. "We know that scholars and experts across the world would readily contribute their time voluntarily—as thousands do for the IPCC—in support of such a necessary and vital international initiative. We are ready to assist in this process."
The letter followed the release of the G20 Extraordinary Committee of Independent Experts on Inequality's landmark report, which was presented to South African President Cyril Ramaphosa earlier this month ahead of the G20 Leaders Summit.
The Extraordinary Committee, which is led by Nobel Prize-winning economist Joseph Stiglitz and also includes inequality experts such as Winnie Byanyima of Uganda and Jayati Ghosh of India, warned that in the last quarter-century, the wealthiest 1% of people around the globe have captured more than 40% of all new wealth—$1.3 million on average—while the bottom 50% has seen its wealth grow by just 1%, or about $585, in constant US dollars.
One in four people around the globe—roughly 2.3 billion people—face moderate or severe food insecurity, meaning they regularly skip meals. The report found that the problem is getting significantly worse, with the number of food-insecure people rising by 335 million since 2019.
The report found that 80% of all countries—accounting for roughly 90% of the global population—have high levels of income inequality, making them seven times more likely than more equal countries to experience democratic decline.
“We are at a dangerous moment in human history," said Piketty, co-director of the World Inequality Lab and World Inequality Database. "Rampant inequality is dividing nations and communities, threatening our social fabric, human rights, and the very essence of democracy. A global effort to tackle inequality is needed—and rigorous analysis of its causes, drivers, and solutions is the first step."
"Governments need to live up to the G20 Summit’s promise of ‘solidarity, equality, sustainability’ and urgently establish an International Panel on Inequality," he added.
Countries with low levels of inequality included Norway, Sweden, Denmark, and Finland—places that also consistently rank high on global reports on happiness and that were found to have low levels of "health, social, and environmental problems," according to the report.
The countries with low levels of inequality have "generous universal transfers and social insurance, supplemented by targeted assistance," the report says.
“High inequality is the result of decades of a failed economics that has primarily benefited the richest in our societies," said Chang, research professor at the School of Oriental and African Studies at University of London. "Not only is there a lot of evidence showing that higher inequality produces more negative economic and social outcomes, there are quite a few examples of more egalitarian societies growing much faster than comparable but more unequal societies.”
The signatories of the letter emphasized that inequality "is not inevitable."
"Clear and proven steps can be taken to reduce it and build more equal societies and economies," they wrote, "which are the fundamental foundation stone of a successful future for us all."
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European Court of Human Rights Delivers 'Quantum Leap for Climate Accountability'
"Requiring governments to assess the global climate consequences of oil and gas combustion before approving new fossil projects is common sense, and long overdue," said one campaigner.
Oct 28, 2025
Although the European Court of Human Rights on Tuesday sided with the Norwegian government over six young adults and a pair of climate groups, the plaintiffs still welcomed the tribunal's ruling as "a major step forward," in the words of Frode Pleym, head of Greenpeace Norway.
The case stems from the Norwegian Ministry of Petroleum and Energy granting 10 exploration licenses to 13 companies for fossil fuel production in the Arctic Barents Sea in 2016. The plaintiffs argued that doing so violated Article 8 of the European Convention on Human Rights, or the right to respect for private and family life.
The court unanimously held that "there had been no violation" of Article 8, but it also affirmed that the government must conduct a full environmental impact assessment, including greenhouse gas emissions from combustion, for any new petroleum production.
"It's a relief to see the court recognize what science has told us for years—that new oil and gas fields threaten our most basic human rights," Pleym said in a statement. "Requiring governments to assess the global climate consequences of oil and gas combustion before approving new fossil projects is common sense, and long overdue."
Young Friends of the Earth Norway, which sued alongside Greenpeace and the six individuals, also praised the ruling as progress.
"This decision is a quantum leap for climate accountability," said the group's leader, Sigrid Hoddevik Losnegård. "The government can no longer continue its oil and gas policy as if climate change doesn't exist. This judgment will have ripple effects far beyond Norway."
I can think of at least seven ways fossil fuel producers could wiggle out of this, but still: holy shit this is huge.
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— Dr. Genevieve Guenther (she/they) (@doctorvive.bsky.social) October 28, 2025 at 7:17 AM
The plaintiffs noted in a joint statement that the ruling "builds on" recent decisions from the International Court of Justice and the UK Supreme Court. The ICJ said in a landmark advisory opinion in July that countries have a legal obligation to take cooperative action to address the fossil fuel-driven climate emergency. At the time, Danilo Garrido, legal counsel at Greenpeace International, hailed the development as "the start of a new era of climate accountability at a global level."
That decision came roughly a year after the UK's top court ruled that Surrey authorities' approval of the Horse Hill drilling project "was unlawful" because they didn't consider "emissions that will occur when the oil produced is burnt as fuel," as required by law. Friends of the Earth UK called the ruling "a heavy blow for the fossil fuel industry" that could impact other projects.
The European court's Tuesday decision came less than two weeks away from the start of the 30th United Nations Climate Change Conference in Belém, Brazil. In preparation for COP30, the UN on Tuesday released a report warning that governments' climate plans would reduce fossil fuel emissions by just 10% by 2035 compared to 2019 levels, far short of what is needed to meet the Paris Agreement goal of limiting temperature rise this century to 1.5°C above preindustrial levels.
As Oil Change International pointed out in a June report, Norway and three other wealthy nations—Australia, Canada, and the United States—account for the majority of planned oil and gas expansion over the next decade. This month, the group commissioned a poll that found a majority of Norwegians believe their country should either stop exploring for new oil and gas or slow down the pace.
"The data show that Norwegians increasingly want political leadership that aligns the country's oil policy with its climate goals," Oil Change's North Sea campaign manager, Silje Lundberg, said Monday. "People are calling time on endless oil expansion—it's the government that's stuck in the past. The public clearly wants a plan to phase down oil and gas and deliver real climate leadership, not more empty talk from ministers protecting the industry."
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US Cash Keeps the Israeli War Machine Running
Divestment efforts must increase significantly to balance out the US push to keep the Israeli economy from imploding.
Aug 30, 2025
In an important step toward the economic isolation of Israel due to its genocide in Gaza, Norway's Government Pension Fund Global has decided to divest from yet more Israeli companies.
Norway's sovereign wealth fund is the world's largest, with total investments in Israel once estimated at $1.9 billion. The decision to divest was taken gradually but is consistent with the Norwegian government's growing solidarity with Palestine and rising criticism of Israel.
Taking a leading role along with Spain, Ireland, and Slovenia, Norway has been a vocal European critic of the Israeli genocide and man-made famine in Gaza, actively contributing to the International Court of Justice's investigation into the genocide, and formally recognizing the state of Palestine in May 2024. This diplomatic and legal stance, coupled with its financial divestment, represents a coherent and escalating effort to hold Israel accountable for the ongoing extermination of Palestinians.
The Israeli economy was already in a state of freefall even before the genocide. The initial collapse was related to the deep political instability in the country, a result of Israeli Prime Minister Benjamin Netanyahu and his extremist government's attempt to co-opt the judicial system, thus compromising any semblance of "democracy" remaining in that country. This resulted in a significant lowering of investor confidence.
The war and genocide, beginning on October 7, 2023, only accelerated the crisis, pushing an already fragile economy to the brink. According to reports from the Israel Ministry of Finance, foreign direct investments in Israel fell by an estimated 28% in the first half of 2024 compared with the same period in 2023.
Any supposed recovery in foreign investments, however, was deceptive. It was not the outcome of a global rallying to save Israel, but rather a consequence of a torrent of US funds pouring in to help Israel sustain both its economy and the genocide in Gaza, along with its other war fronts.
Israel's gross domestic product (GDP) was estimated by the World Bank to be around $540 billion by the end of 2024. The war on Gaza has already taken a considerable bite out of Israel's entire GDP. Estimates from Israel itself are complex, but all data points to the fact that the Israeli economy is suffering and will continue to suffer in the foreseeable future. Citing reports from the Bank of Israel and the Ministry of Finance, the Israeli business newspaper Calcalist reported in January 2025 that the cost of the Israeli war on Gaza had already reached more than $67.5 billion. That figure represented the costs of the war up to the end of 2024.
Keeping in mind that the ongoing war costs continue to rise exponentially, and with other consequences of the war—including divestments from the Israeli market by Norway and other countries—future projections for the Israeli economy look very grim. The Israeli Central Bureau of Statistics reported that the Israeli economy, already in a constant state of contraction, shrunk by another 3.5% in the period between April and June 2025.
This collapse is projected to continue, even with the unprecedented US financial backing of Tel Aviv. Indeed, without US help, the precarious Israeli economy would be in a much worse state. Though the US has always propped up Israel—with nearly $4 billion in aid annually—the US help for Israel in the last two years was the most generous and critical yet.
Moreover, this should also make US citizens, who object to their government's role in the genocide in Gaza, more aware of the extent of Washington's collaboration to save Israel, even at the price of exterminating the Palestinians.
Israel is the recipient of $3.8 billion of US taxpayer money per year, according to the latest 10-year Memorandum of Understanding signed in 2016. Equally, if not more valuable, than this large sum are the loan guarantees, which allow Israel to borrow money at a much lower interest rate on the global market. The backing of the US has, therefore, enabled investors to view the Israeli market as a safe haven for their funds, often guaranteeing high returns. This applies to the Norwegian sovereign wealth fund as it did to numerous other entities and companies.
Now that Israel has become a bad brand, affiliated with unethical investments due to the genocide in Gaza and growing illegal settlement expansion in the West Bank, the US, as Israel's main benefactor, has stepped in to fill the gaps.
The US emergency supplemental appropriations act of April 2024 allocated a total of $26.4 billion for Israel. While much of the money was earmarked for defense expenditures, in reality, most of it will percolate into the Israeli economy. This amount, in addition to the annual military aid, allows the Israeli government to minimize spending on defense and allocate more money to keep the economy from shrinking at an even faster rate.
Additionally, it will free the Israeli military industry to continue producing new, sophisticated military technology that will ensure Israel's continued competitiveness in the arms market. The military-industrial complex, a significant part of the Israeli economy, is thus not only sustained but given a fresh impetus by American aid, ensuring the war machine continues to function with minimal financial disruption.
All of this should not diminish the importance of divestment from the Israeli financial system. On the contrary, it means that divestment efforts must increase significantly to balance out the US push to keep the Israeli economy from imploding.
Moreover, this should also make US citizens, who object to their government's role in the genocide in Gaza, more aware of the extent of Washington's collaboration to save Israel, even at the price of exterminating the Palestinians. Indeed, the flow of funds from the US is not a passive action; it is an active collaboration that directly enables the Israeli genocide in Gaza.
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