LEXICON

Toward ensuring that all invitees have the technical understanding necessary to participate in the BBW@MC event, the following document clarifies and expounds jargon relevant to the Beyond Bretton Woods initiative. Included are terms related to climate change, multinational institutions, and the international financial architecture.

The document is organized alphabetically for ease of use. The “A” section of the Lexicon is included below — if you would like free access to the full Lexicon please send us your name and email in the form at right.

A —

Accra Agenda – The "Accra Agenda for Action" (AAA) is an international framework aimed at enhancing the implementation of the Paris Declaration, focusing on country ownership of development policies, effective and inclusive partnerships, and accountable development results. It emphasizes the need for developing countries to lead their development agendas, supported by donor nations through predictable aid flows and a commitment to shared principles.

Sources –

 “ACCRA.” Policy Commons

 “Accra Agenda for Actions.” Appropedia

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Adaptation – Adaptation in the context of climate change is a broad term, covering policy and lifestyle adjustments aimed at making life under changing climatic conditions more bearable. Rather than addressing the causes of climate change directly, adaptation seeks to change human systems (most typically food, energy, infrastructure, and financial systems) to make them more resilient to the effects of climate change. 

Experts debate whether mitigation or adaptation is the most effective response to climate change. Some believe that we must prioritize adaptation given the inevitability of at least some climate change. Others argue that adaptation strategies shift responsibility away from polluters. Most contend that both are equally important, though adaptation is considered a standard and constant development challenge.

Sources –

“Climate Change 2022: Impacts, Adaptation and Vulnerability. Contribution of Working Group II to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change – Appendix II.” IPCC 2022

"Adaptation Gap Report 2020." UNEP

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African Development Bank Group – The African Development Bank group is an international development finance institution composed of the African Development Bank, the African Development Fund, and the Nigeria Trust Fund. Since 2013, its strategy has been focused on improving the quality of life in Africa and its sustainable, clean electrification.

Sources – 

“Mission and Strategy.” African Development Bank Group

“African Development Bank.” Green Climate Fund

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Agroecology - This is a form of sustainable farming that uses nature. More specifically, it is a holistic approach that applies ecological and social concepts to design and management of sustainable agriculture and food systems. It optimizes relationships between plants, animals and humans while addressing the need for socially equitable food practices. This is a bottom-up process helping deliver contextualized solutions to local problems. Broadly speaking, agroecology shows how to sustainably grow food systems and is just one small piece of the global sustainable development puzzle.

Sources -

“What is Agroecology?” - Food and Agriculture Organization of the UN

“Agroecology - Sustainable Farming.” - Soil Association

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Alternative measure to GDP – Some economists advocate for alternative methods to GDP to measure growth and development progress . GDP fails to capture externalities of production, the well-being of a population, human capital, distribution of wealth, and other factors that impact growth and progress in a country. To address these shortcomings, some alternative measures of economic and social health include the Human Development Index, the Better Life Index, and the Genuine Progress Indicator.

Sources –

“Beyond GDP: Three Other Ways to Measure Economic Health.” – Federal Reserve Bank of St. Louis

“GDP Is Not a Measure of Human Well-Being.” – Harvard Business Review

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Anti-Money Laundering (AML) - Refers to a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. AML measures involve the detection and reporting of suspicious financial activities, with the aim of preventing money laundering, which is the process of making large amounts of money generated by criminal activity appear to have come from a legitimate source. Financial institutions and other regulated entities are required to implement AML compliance programs that include customer due diligence, transaction monitoring, and reporting of suspicious activities to relevant authorities. These measures help in combating financial crimes, including the financing of terrorism, fraud, and tax evasion, by increasing transparency and accountability in financial transactions. Today, AML is being fought by leading technologies such as AI and Machine learning. There is hope development of these technologies can diminish criminal activity globally.

Sources –

“Anti Money Laundering.” FINRA

“Anti Money Laundering: What it is and what it does.” SAS 

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AOSIS (Alliance of Small Island States) — Established in 1990, the AOSIS is a coalition advocating for the interests of 39 small island countries in the context of environmental policy and climate change. These nations affected by the effects of climate change leverage AOSIS as a platform to amplify their voices on the global stage. The alliance actively participates in various international forums, including the United Nations, to ensure that its member states’ vulnerabilities and needs are integrated into international environmental and climate policy decisions. By doing so, AOSIS seeks globally beneficial policies that are responsive to the challenges faced by small island states.

Sources —

"About AOSIS."  AOSIS

"Bureau of the AOSIS."  AOSIS

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Autarky – Autarky is an economic system in which a country attempts to minimize trade and dependence on the outside world. It aims to move a country towards economic self sufficiency. It involves finding internally manufactured substitutes for imported goods, high tariff barriers, and restrictions on capital flows. 

North Korea is probably the best known example of a nation practicing autarky today. It restricts almost all imports and attempts to meet all demand through domestic manufacturing. This system has not worked well, largely due to corruption and militarization.

Sources –

“autarky.” Britannica Money

“The New Age of Autarky.” Foreign Affairs