Geneva, Mar 17: Discussions to establish a new international body aimed at tackling widening global inequality began at the United Nations in Geneva on Monday, with experts and country representatives calling the issue a growing global emergency.
The proposed International Panel on Inequality (IPI), modelled on the Intergovernmental Panel on Climate Change, is envisioned as a platform to provide scientific research and policy guidance on wealth disparities worldwide.
The founding committee, which includes prominent economists such as Joseph Stiglitz, convened its first meeting at the United Nations’ European headquarters. The initiative marks an initial step toward building a structured global response to inequality.
The proposal for the panel stems from a report prepared under the G20 framework, which highlighted what it described as a global “inequality emergency” threatening democratic systems and economic stability.
Speaking on the sidelines of the meeting, Stiglitz said rising inequality was widely acknowledged and worsening over time.
He noted that the wealthiest one percent accounted for a significant share of global wealth gains over the past two decades, while the poorest half of the population saw minimal benefit.
Earlier, Cyril Ramaphosa had underscored the urgency of addressing inequality, describing it as a challenge with far-reaching implications for social justice, economic growth and democratic governance.
Participants at the meeting are expected to deliberate on the structure, mandate and scope of the proposed panel, which aims to bring global attention and coordinated action to narrowing inequality gaps.
