Delivered by Volker Türk, UN High Commissioner for Human Rights At Biennial panel discussion on the right to development - 57th session of the Human Rights Council Realizing the right to development: The case for a United Nations framework convention on international tax cooperation Mr President, Excellencies, Distinguished delegates, You have heard me speak during my Global Update speech of State capture by powerful economic and political actors. Today’s topic goes right to the heart of this phenomenon and how to address it. With UN Member States preparing to set out a blueprint to address common goals at the Summit of the Future next week, today"s discussion also is particularly important. Over the next ten years, States are projected to lose nearly US$5 trillion to tax evasion and avoidance. These massive shortfalls create often insurmountable obstacles to the realisation of the right to development, as well as many other human rights that require principled, equitable investment. Such investment can only be realised through domestic or international revenue mobilization. But when multinational businesses and wealthy individuals shift their wealth to low- or no-tax jurisdictions, they undercut the ability of Governments to mobilize revenues to fulfill their legal obligations under international human rights law. In some developing nations, such practises drain away the equivalent of half the public health budget. This robs the State of the capacity to invest properly in the rights to health, education, development, a clean, healthy and sustainable environment and other essential progress towards the Sustainable Development Goals. It also restricts their ability to achieve international cooperation to advance the UN’s promise of “social progress and better standards of life in larger freedom”. Mr President, The right to development seeks to identify and dismantle the systemic and structural obstacles that impede the realization of human rights. And the nexus of issues related to tax evasion and avoidance clearly creates a very significant obstacle. Strengthening international cooperation to deal with cross-border tax matters is essential to redressing this situation, and to building economies that are fair, sustainable and grounded in human rights. In this context, I strongly welcome the initiative led by the African Group to promote more inclusive and effective international tax cooperation. Last month"s adoption of the Terms of Reference for a United Nations Framework Convention on International Tax Cooperation by the Ad Hoc Committee was an important step in this direction. I particularly welcome the recognition, embedded in those Terms of Reference, of the links between international tax cooperation and human rights – and their alignment with States’ obligations under international human rights law. As this process to strengthen international tax cooperation moves forward, I urge all States to support it, and to secure the meaningful participation of civil society organisations that work for tax justice. I also note with interest Brazil’s proposal to ensure a global minimum 2% tax rate on some 3,000 so-called "super-rich" individuals. This could reportedly mobilise up to US$250 billion annually. Excellencies, We must move towards a more fair and just global economy. By reforming global tax rules so that all people and all countries share in the benefits of development. By ensuring that multinational corporations pay their fair share of taxes in all countries where they operate. By elevating the global minimal corporate tax rate to thwart any ‘race to the bottom.’ By promoting financial transparency, integrity and accountability – including through public reporting of corporate profits; curbs to the operations of tax havens; and more efficient and transparent national tax regimes, including progressive tax policies on income and wealth. This is in the interest of every State, as the right to development makes clear. Better international cooperation and the realisation of human rights will benefit everyone. Promoting justice and social cohesion, and reducing inequalities within and between States through a more equitable share of the benefits of development, will promote more stable, more respectful and more peaceful societies in every region. Today, States and other actors can effectively achieve the task of combatting tax avoidance and evasion. We can also redesign our global tax architecture and the broader international financial system to make them fairer and more inclusive. These goals are within reach, and international human rights law will be crucial in these efforts. It provides the legal grounding to promote justice, international solidarity and equality within and between States, through creation of an enabling environment and international order in which everyone shares the benefits of development. It is time for a profound shift in our approach to development finance and economic policies. And it is well past time to implement human rights economies, and the right to development, across the world. I wish you a good discussion. Thank you.