Sunday, October 1, 2023

B20 calls upon the G20 to take decisive actions in shaping globalization

Joint B20 Statement: B20 Calling for International Cooperation to Shape an Interconnected World

58 CEOs and Presidents of Business Associations call upon the G20 to take decisive actions in shaping globalization.

The Business 20, the official business dialogue of the G20, asks the G20 members to overcome their differences and demonstrate decisive leadership at the G20 Summit in Hamburg later this week. 58 CEOs and Presidents of Business Association – Chairs and Co-Chairs of the B20 Taskforces, members of the B20 Business Advisory Caucus, as well as the presidents of BDI, BDA, and DIHK – have issued a joint statement to this end. The signatories agree that globalization is a positive force for economic growth and sustainable development. However, common rules and strong institutions are necessary to ensure that globalization benefits all.

In two central areas, the G20, which accounts for about two-thirds of the world’s population and more than three-fourths of the world’s gross domestic product, is risking falling behind the global consensus of previous years: on trade and climate policies.

The business leaders are concerned about the global increase in trade-restrictive measures. They urge the heads of state and government to reinforce their commitment to open markets and the multilateral trading system with the World Trade Organization (WTO) at its center. Everybody should play by the international rules, the leaders empha-size, while calling upon the G20 to update the rulebook, in order to adequately govern trade in the 21st century. According to the business leaders, as many people as possible should have the opportunity to benefit from globalization. For this reason, there needs to be more investment in education and lifelong learning. The G20 economies need active labor market policies and strong social systems.

The global business community also calls for a clear signal from the G20 in the area of climate protection. As climate change is one of the largest risks to sustainable development, the G20 must reaffirm its commitment to the implementation of the Paris Climate Agreement in Hamburg. The business leaders emphasize: the Paris Climate Agreement provides a good framework for climate protection and innovation. Climate protection and economic growth do not preclude one another. On the contrary, investing in modern, smart, and clean economies can boost economic and social development.

Source: B20 Germany

Interview with B20 Chair, Juergen Heraeus, about the G20 Summit

All eyes are on Hamburg where the leaders of the G20 will meet on July 7-8, 2017 to agree on a program to “shape an interconnected world” – the motto of this year’s G20 under the German Presidency.

We asked Juergen Heraeus, the chair of the Business 20 (B20) about his expectations for Hamburg. Heraeus also discussed the agenda of the German G20 Presidency, what the G20 can do to counter the trend of protectionist and isolationist sentiments, as well as the topics of digitalization and climate change.

Source: B20 Germany

Interview with B20 Sherpa, Dr. Stormy-Annika Mildner, about the G20 Summit

At the G20 Summit in Hamburg, July 7-8, 2017, the leaders of the most powerful economies will get together to agree on a roadmap to “shape an interconnected world”. This is at least the goal of the German G20 Presidency. The B20 has developed recommendations for the G20. B20 Sherpa Stormy-Annika Mildner believes that these recommendations would be good guidelines in order to “build resilience, to improve sustainability, and to assume responsibility”.

In the interview, Dr. Mildner discusses the continuity of the B20 Presidency, the steps the B20 has taken to ensure accountability and transparency, and the B20’s continued engagement following the handover of the B20 Policy Recommendations at the B20 Summit in May.

Source: B20 Germany

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