Faith-based organizations and economic justice advocates from around the world have gathered in Geneva for the sixth meeting of the Ecumenical Panel on a New International Financial and Economic Architecture (NIFEA). Hosted March 25-27, 2025, the event brings together key ecumenical bodies, including the World Council of Churches (WCC), World Communion of Reformed Churches (WCRC), Lutheran World Federation (LWF), World Methodist Council (WMC), and Council for World Mission (CWM), to address pressing global economic injustices and seek transformative alternatives.
Arising from an action of the Uniting General Council in 2010 to implement the Accra Confession, the NIFEA program aims to confront the deep-rooted inequalities of the current economic system. This year’s convening is especially significant as it precedes the fourth International Conference on Financing for Development in June 2025 in Seville and takes place amid widening economic disparities, climate devastation, and exploitative financial structures.
Why We Need NIFEA Now More Than Ever
The meeting opened with a prayer and reflections led by Archbishop Thabo Makgoba, followed by an orientation session facilitated by the Rev. Philip Vinod Peacock (WCRC), Athena Peralta (WCC), and Isaiah Toroitich (LWF). A keynote address by Iemaima Jennifer Vaai underscored the urgent necessity of a restructured global economy that prioritizes justice, sustainability, and human dignity.
“The present economic system is a matter of faith because it is a matter of life and death; too many lives, particularly Indigenous lives, have been lost to the necropolitics of empire. We need systemic change, and we need it urgently,” said Peacock, executive secretary for justice and witness.
Addressing the Root Causes of Inequality
One of the focal discussions revolved around the latest Oxfam report, which forecasts a stark increase in wealth concentration, with at least five trillionaires emerging in the near future while 3.6 billion people continue to struggle in poverty. Participants also addressed the impact of artificial intelligence on employment, the privatization of commons, and the financialization of natural resources. In response, the panel explored alternatives to the current economic order, including fair taxation, debt cancellation, and economic policies rooted in solidarity and justice.
Global Perspectives and Future Strategies
The three-day meeting includes a series of panel discussions featuring leading theologians, economists, and policy experts. Topics include global tax justice, the decolonization of economic structures, dismantling the military-industrial complex, and sustainable development strategies. The event will culminate in the formulation of a NIFEA public statement as well as a pastoral letter to churches stressing the urgency of the economic and ecological crises.
As 2025 marks a Jubilee year and the 70th anniversary of the Bandung Conference—a milestone in the movement for a new international economic order—this gathering seeks to rekindle the vision of economic justice, particularly for marginalized communities in the Global South.
Next Steps
The meeting’s outcomes will contribute to shaping the next phase of the NIFEA program (2026-2028), ensuring that faith communities remain at the forefront of advocating for a just, caring, and sustainable global economy.
