Photo: Mauro Berti.
Pope Francis was a powerful voice for economic and climate justice—calling for a transformation of the exploitative systems that harm both people and planet. As we enter the Jubilee year, we reflect on his unwavering advocacy for debt relief, tax justice, and a Rights-Based Economy—and call for bold action to carry this vision forward.
The world has lost an ally in the fight for a Right-Based Economy. The Pope’s legacy on economic justice is profound. It transcends the Catholic Church, cutting across faith-based organisations and beyond. Pope Francis pushed for a fundamentally different economic model as a way of ‘transforming an economy that kills into an economy of life, in all its aspects’. He stood up to the most marginilised voices and those suffering at the margins of neoliberal exploitation and plundering. In doing so, he united different faith groups and movements working on climate justice and a rights-based economy.
Just before the Pope was last hospitalized, CESR took part in a high level dialogue organised by the Pontifical Academy of Social Sciences and ICRICT at the Vatican. This event looked at tax justice and solidarity as part of a path towards an inclusive and sustainable common home. In this blog, we build on the discussions we had at the Vatican to highlight three core components of Pope Francis’ legacy: his call for care for our shared home, our shared humanity and urgent action during the Jubilee year.
Protecting our common home
In 2015, Pope Francis published an Encyclical letter entitled Laudato Sí focusing on the care for our common home. In his Encyclical, Pope Francis urged us all to ‘protect our common home’ and stressed that this ‘includes a concern to bring the whole human family together to seek a sustainable and integral development’. In addition, Pope Francis noted the need ‘to consider not only its symptoms but also its deepest causes.’ In his words, ‘many special interests, and economic interests easily end up trumping the common good’.
Indeed, we at CESR have noted for decades that the global climate crisis is directly caused by a dominant economic system based on exploitation. In this sense, as Pope Francis boldly put it, we must strive towards a transformative approach to both climate and economic justice; one that tackles the structures behind planetary damage and inequalities, not just their consequences. This means reassessing what we value, radically transforming macroeconomic systems and enabling space for that change to take place.
Protecting our shared humanity
As the first Pope from the Global South, Pope Francis' humble approach to the papacy was not inspiring but also symbolic when it came to tackling centuries of North-South divides. Instead of focusing on dividing language, he focused on our shared humanity, i.e. what brings us together. In his Encyclical, Pope Francis reaffirmed calls for an ‘urgent need for radical change in the conduct of humanity’. This, for him, would ‘require a new and universal solidarity.’ Pope Francis reminded us that we are called to love each other, regardless of where our brothers and sisters are, regardless of where we stand in relation to religion and spirituality.
Pope Francis was a fierceless advocate for structural issues such as debt relief making it the social theme of this Jubilee Year. As a person born and raised in Argentina, he understood how the issues of debt and financial crisis affect people’s lives, well being and lived realities. In June 2024, recognising that debt crises that mainly affects the countries of the Global South, he noted the misery, distress, and deprivation caused by it and its effects on millions of people.
The Jubilee
The 2025 Jubilee year and co-related campaign draw their name from the biblical concept of the Great Jubilee – a year to proclaim the freeing of all slaves and the relieving of debts. Jubilee calls for a fresh start for the poor, an opportunity for all of society to establish justice and equity. It is in removing the debt shackles that enslave and trap Global South countries in a never ending cycle of interest payments that lies the main driver behind the 2025 Jubilee campaign. As signatories to this campaign, we at CESR stress the need to understand the links between debt justice, climate justice, fiscal space and human rights.
For instance, on the 21st of April of 2025, CESR jointly launched a publication, Designing Human Rights-Aligned Reforms for Debt Restructurings, offering a clear and practical solution: a fair and comprehensive debt restructuring mechanism grounded in human rights. It proposes a new multilateral framework (transparent, inclusive, and independent from creditor influence) to ensure that debt crises are resolved in ways that uphold rights and protect lives. Without such reform, governments will remain trapped in austerity cycles that deepen poverty and inequality.
The way forward
Many world leaders as well as CESR’s friends and allies have already reacted to the Pope’s passing and paid tribute to his remarkable legacy. His papacy was not bereft of challenges and some solutions to these challenges have not always been perfect or as comprehensive as some would expect. Regardless of its pitfalls, it is undeniable that Pope Francis left a profound legacy that must be ring fenced, cherished and promoted regardless of who may be chosen to be the next Bishop of Rome and therefore lead the Roman Catholic Church over the next years and decades.
As our Executive Director, Dr. Maria Ron Balsera, states:
"As this Jubilee year unfolds, it is crucial to follow in the footsteps of Pope Francis and to recognise the need for 2025 to be the year when creditor countries and agencies provide debt relief and free up space for debtor countries to deliver on their commitments on climate justice and human rights. It is similarly crucial the role of tax justice in promoting economic fairness for all."
As the official days of mourning come to an end, and proceedings start for the next conclave, we at CESR stand at the sidelines mourning the passing of an outstanding and courageous leader and hoping for a new leadership that will match his own.
Read Decoding Debt Justice here.