The note echoes a foundational principle which appeared in a 1963 encyclical of Pope John XXIII. In Pacem in Terris Blessed Pope John noted how public structures already took on global shape. That global shape called for a commensurate authority.
137. Today the universal common good presents us with problems which are world-wide in their dimensions; problems, therefore, which cannot be solved except by a public authority with power, organization and means co-extensive with these problems, and with a world-wide sphere of activity. Consequently the moral order itself demands the establishment of some such general form of public authority.The Vatican note released today addresses finances, their global context and the way they ought to serve the good of all people "in the context of global public authority."