Global Sustainable Development Resolution

(Sec. 3) Makes findings with respect to unregulated economic globalization and deleterious consequences that it tends to generate, including destructive competition (in which nations are forced to cut labor, social, and environmental costs in order to attract mobile capital), economic inequality, and degradation of democracy.

(Sec. 4) Expresses the sense of the House that the United States should adopt specified policies with respect to: (1) global economic goals (reconstructing the global economy to achieve democracy, human rights, environmental sustainability, and economic advancement for the most oppressed and exploited parts of the population); (2) a democratic multilevel global economy; (3) reduction of financial volatility; (4) sustainable development; and (5) democracy.

(Sec. 5) Expresses the sense of the House that, to develop the broadest possible dialog by the people of the United States among themselves and with the other peoples of the world regarding the future of the global economy, the United States should establish a United States Commission on the Global Economy which shall: (1) hold hearings to investigate the effect of globalization on the workers, industry, and environment of the United States; and (2) establish a Global Economy Truth Commission.

(Sec. 6) Expresses the sense of the House that the United States should enter into negotiations with other members of the United Nations to develop and implement a sustainable development strategy aimed at restructuring the international financial system to avoid global recessions, protect the environment, ensure full employment, reverse the polarization of wealth and poverty, and support the efforts of polities at all levels to mobilize and coordinate their economic resources.

Declares that the United States should: (1) work with other Nations to achieve specified goals such as encouraging economic policies based on domestic economic growth and development, not domestic austerity in the interest of export-led growth, and encouraging a return to more stable exchange rates in order to achieve the original purposes of the Bretton Woods agreement; (2) in cooperation with other Nations, establish levies on all foreign currency transactions and establish the mechanisms for implementing such levies on such transactions for specified purposes, establish one or more public international investment funds, develop international institutions to perform functions of monetary regulation that are performed inadequately by national central banks, and establish, for highly indebted nations, an insolvency or bankruptcy mechanism; and (3) take specified actions with respect to debt cancellation.

(Sec. 7) Expresses the sense of the House that the United States should impose on any U.S. funding of the World Bank, the International Monetary Fund (IMF), or any other international financial institution specified conditions with respect to worker rights, environmental conditions, social conditions, democracy and human rights conditions, international financial institution governance, participation by certain sectors of civil society, and IMF missions.

(Sec. 8) Expresses the sense of the House that, to help establish public control and citizen sovereignty over global corporations and reduce the ability of such corporations to evade local and national law: (1) the United States should enter into negotiations with other countries to establish a binding Code of Conduct for Transnational Corporations, which should impose on each corporation that operates in more than one country requirements regarding toxic substance emissions, facilities, and hazardous materials disclosures, worker rights, environmental standards, termination of operations, unions, financial disclosures, investment, education and job training, and social and environmental standards; (2) there should be established a mechanism of adjudication and sanctions to enforce the code of conduct which allows both governments and citizens to initiate complaints of noncompliance by global corporations and which operates in a transparent manner; (3) Governments should not be subject to trade or other reprisals for efforts to enforce the code of conduct; (4) corporations based in the United States should immediately follow certain standards in their overseas operations, pending the implementation of the code of conduct; and (5) U.S. laws should be amended such that corporations incorporated or operating in the United States are held liable for harms caused abroad and that persons aggrieved by such harms can pursue actions for relief in the U.S. courts.

(Sec. 9) Expresses the sense of the House that the President should begin the process of renegotiating all agreements regulating international trade, including the World Trade Organization, the North American Free Trade Agreement, and bilateral investment treaties, with objectives of: (1) reorienting trade and investment to be means of carrying out just and sustainable development; (2) removing labor and environmental rights and conditions and social protections as factors of competition; and (3) incorporating in market prices the long-term costs of industrial production, including resource depletion, waste, and disposal or recycling of final product.

Sets forth provisions regarding reporting requirements, withdrawal provisions, and trade agreement negotiating authority.