A/HRC/36/40 • Support the inclusion in trade and investment agreements of enforceable labour provisions based on ILO standards and the repeal of investor-state dispute settlement mechanisms that undermine governments’ right to regulate. Measures for creating decent work and reducing inequality 26. The IMF and World Bank should • End the promotion of labour market deregulation, including through its funding conditionality, and instead help to reverse the rise in income inequality by supporting social dialogue, strengthened collective bargaining and robust minimum wages as part of a coherent set of labour market and social policies for more inclusive growth. This work should entail enhanced cooperation with international organizations with expertise in labour market and social policy, such as the ILO and World Health Organization. • Support gender equality and women’s economic empowerment through wage increases, formalization and respect of workers’ rights in majority-female sectors, along with public investments, notably in the care economy, to create quality jobs and reduce the burden of unpaid labour. • Help countries restore or establish fiscal policies that reduce inequality through more progressive tax regimes including through greater tax revenues from higher incomes, and increased coverage of social protection programmes. • Develop actions to contribute to attainment of the Sustainable Development Goals, which include targets on full and productive employment, protection of workers’ rights, reduction of inequality, universal health coverage, universal primary and secondary education, and national social protection systems for all including floors. 27. The World Bank should • Ensure that its projects and programmes respect fundamental workers’ rights and provide safe working conditions and adequate wages, and work jointly with trade unions and the ILO in the implementation of “Environmental and Social Standard 2: Labour and Working Conditions” to ensure that Bank-financed activities comply fully with recognized international labour standards. • Examine possibilities of joint work with other development banks that have adopted labour safeguards on their implementation, for example in training activities and developing effective monitoring procedures. Measures for effective financial regulation and taxation 28. The IMF should • Support the extension and completion of steps taken since 2008 to correct underregulation of the financial sector, such as shadow banking systems, too-big-to-fail financial groups and under-taxation of the financial industry, and oppose efforts to roll back the measures already adopted. • Support the creation of a multilateral framework for negotiating binding international debt restructuring agreements when countries face unsustainable sovereign debt. • Promote stronger actions to counter the erosion of tax bases and achieve reform of taxation systems in order to move towards broader-based and more progressive taxes, and to shift taxation from employment to environmentally damaging and nonproductive activities. • Support stronger measures to ensure that fiscal revenue is not lost through tax havens by requiring automatic exchange of information and action to stop base erosion and profit shifting by multinational enterprises. 39