Global business leaders call on the G20 to act now to reinvigorate the global economy
B20 has submitted its 25 policy recommendations to the G20 Leaders imploring bold, collaborative and decisive action to put growth on a resilient and sustainable path that benefits all.
B20 Saudi Arabia, the official voice of the global business community to the G20, today submitted its 25 policy recommendations to the G20 Leaders imploring bold, collaborative and decisive action to put growth on a resilient and sustainable path that benefits all.
The Business Twenty (B20) is the official G20 dialogue with the business community. As the voice of the private sector to the G20, it represents the global business community across all G20 member states and all economic sectors.
In a report entitled Realizing Opportunities of the 21st Century for All, the 25 recommendations outline an action plan to reinvigorate the global economy by focusing on several key areas including digitalization, free and fair trade, sustainable finance and infrastructure, mainstreaming women in business, integrity and compliance, climate change and sustainability, and future of work and education.
In the opening of the report it says: “The global economy is in its worst state in a century. While the COVID-19 pandemic pushed the economy over the cliff, many mishaps had brought it to the edge. The challenging opportunity is to ‘build back better’, with real urgency required from policymakers and business leaders.”
Over the past year, the B20 engaged with more than 650 business leaders across the G20 and beyond through its six taskforces and Women in Business Action Council to ensure an inclusive and
The policy recommendations address both immediate challenges and medium-to long-term developmental goals, including empowering people by doubling down efforts to empower women and youth, building workforce resilient to technological and scaling up financing for sustainable development.
The report also highlights the importance of safeguarding the planet by accelerating action to achieve net zero carbon, promoting cleaner and more sustainable energy systems, strengthening climate resilience of infrastructure and promoting the transition to circular economy.
“The opportunity is to ‘build back better’, with real urgency required from policymakers and business leaders,” said Yousef Al-Benyan, Chair of B20 Saudi Arabia.
“I urgently call on the G20 Leaders to adopt these policy recommendations in order to prevent the pandemic from causing further damage, while setting the foundation for a more equitable world.”
Read the report in full here.