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Over 100 million workers in Southeast Asia have jobs that are directly or closely linked to the environment, making them vulnerable to climate change impacts. These same workers likely earn at least 20% lower than the national average and are largely in informal employment. The region’s necessary transition towards greener growth could affect them in several ways: some sectors will create jobs and others will lose jobs or disappear altogether. Understanding the effects of both climate change and green growth policies on jobs and people is thus essential for making the transition in Southeast Asia an inclusive one. The study explores these issues, with emphasis on the potential effects on labour of an energy transition in Indonesia, and of a transition in the region’s agricultural sector, illustrated by a simulated conversion from conventional to organic rice farming.

Decentralised finance, including crypto-asset markets and DeFi protocol activity, has been promoted as a tool to support the democratisation of finance. This report presents quantitative evidence from ASEAN economies that participation in decentralised finance markets has been largely driven by speculative forces and a fear of missing out, rather than by practical use-cases that can promote financial inclusion. Since decentralised finance today involves unregulated or uncompliant financial service provision, the complexity and the non-custodial nature of such activity (particularly DeFi protocol activity) make these practically difficult for retail participation. The report provides policy considerations and discusses other digital finance tools that could be considered as alternative catalysts for financial inclusion, particularly when it comes to MSME financing.

This report provides an assessment of the Swedish corporate bond market and policy recommendations to improve its functioning, drawing from detailed empirical analysis and in-depth interviews with market participants. It includes two empirical chapters which provide insights into the market's evolution over the last two decades based on original data, emphasising changes since the 2008 financial crisis with respect to market size, issuer characteristics, credit quality, industry composition and investor universe. These developments are also considered in an international context, comparing the Swedish market with selected peer countries, both in Europe and elsewhere.

The blue economy is a major driver of urban and regional development, creating millions of local jobs in water-dependent sectors such as fisheries, tourism, and shipping. However, it can also contribute to carbon emissions and ecosystem degradation, while its reliance on freshwater, coastal and marine ecosystems exposes it to the impacts of climate change. As the places where the blue economy takes place, creates value and provides jobs, cities and regions play a key role in unlocking the potential of a resilient blue economy that preserves the ecosystems that sustain it. Building on a global survey of 80+ cities, regions and basins, this report highlights the costs and benefits of the blue economy at subnational level, shedding light on the link between the blue economy and water security. This analysis provides an overview of the multi-level governance of the blue economy and related gaps. It calls on cities and regions to develop resilient, inclusive, sustainable and circular (RISC-proof) blue economies by establishing the right governance conditions related to policy making, policy coherence and policy implementation. The report concludes with a RISC Assessment Framework that offers a self-evaluation tool for subnational governments.

A key part of the OECD/G20 BEPS Project is addressing the tax challenges arising from the digitalisation of the economy. In October 2021, over 135 jurisdictions joined a ground-breaking plan to update key elements of the international tax system which is no longer fit for purpose in a globalised and digitalised economy. The Global Anti-Base Erosion (GloBE) Rules are a key component of this plan and ensure large multinational enterprise pay a minimum level of tax on the income arising in each of the jurisdictions where they operate. More specifically, the GloBE Rules provide for a co-ordinated system of taxation that imposes a top-up tax on profits arising in a jurisdiction whenever the effective tax rate, determined on a jurisdictional basis, is below the minimum rate. The Commentary to the GloBE Rules was originally released by the Inclusive Framework in March 2022. The Commentary explains the intended outcomes under the GloBE Rules, clarifies the meaning of certain terms and illustrates the application of the rules to certain fact patterns. This Consolidated Commentary incorporates Agreed Administrative Guidance that has been released by the Inclusive Framework since March 2022 up until December 2023. It provides tax administrations and taxpayers with guidance on the interpretation and application of the GloBE Rules in order to promote a consistent and common interpretation and application of those that will facilitate coordinated outcomes for both tax administrations and MNE Groups.

This annual publication provides details of taxes paid on wages in OECD countries. This year’s edition focuses on fiscal incentives for second earners in the OECD and how tax policy might contribute to gender gaps in labour market outcomes. For the year 2023, the report also examines personal income taxes and social security contributions paid by employees, social security contributions and payroll taxes paid by employers, and cash benefits received by workers. It illustrates how these taxes and benefits are calculated in each member country and examines how they impact household incomes. The results also enable quantitative cross-country comparisons of labour cost levels and the overall tax and benefit position of single persons and families on different levels of earnings. The publication shows average and marginal effective tax rates on labour costs for eight different household types, which vary by income level and household composition (single persons, single parents, one or two earner couples with or without children). The average tax rates measure the part of gross wage earnings or labour costs taken in tax and social security contributions, both before and after cash benefits, and the marginal tax rates the part of a small increase of gross earnings or labour costs that is paid in these levies.

This report looks back at TIWB’s achievements from July 2022 to December 2023. Chapter 1 describes TIWB in the evolving international taxation and development context. Chapter 2 discusses TIWB programmes and operations. Chapter 3 provides information on current and future areas of TIWB technical assistance. Chapter 4 highlights results obtained over the past year. Chapter 5 describes TIWB participation at international events and the initiative’s communication efforts. Finally, Chapter 6 sets out the work plan for the year and provides an overview of the previous year’s objectives and performance.