It is all in the numbers: 64% of the world population lives in the G20 countries; 80% of global trade happens between its members; 90% of global GDP is generated by the G20. Therefore, it is only logical that global business leaders should play a role when the G20 meets in Los Cabos, Mexico, today. Their message is simple: we understand the challenges governments are facing and we want to help, because this is our business, too.
At a time when rebuilding trust and confidence in the global economy is more important than ever, business has a considerable contribution to make. After all, it is fair to say that the financial crisis originated in G20 member countries. And don’t forget that the G20 countries are responsible for 84% of global fossil fuel emissions.
The 19 countries and the European Union that form the G20 are meeting for the seventh time (and for the first time in a Latin American country) to coordinate policy on social and economic development and to lay the foundation for a new global financial architecture.
Through the Business 20 (B20), which serves as a business advisory to G20 officials, leaders from the private sector, international organizations and NGOs have assembled task forces this year to provide concrete action plans in areas such as green growth, employment, food security and corruption.
I have high hopes for several initiatives: first, plans to enhance public and private sector investment to achieve a 50% increase in agricultural production and productivity by 2030 on food security; second, the formation of a public-private partnership of 30 clean energy companies, banks and development finance institutions to announce a Green Growth Action Alliance to scale up private investment in green infrastructure; and third, to tackle employment issues stemming from a widespread skills mismatch and the recommendation to scale and improve the image and quality of internships and apprenticeships through commitments by business and national governments.
The challenges confronting the world today are too complex and entwined to be addressed by government alone. Through business commitment to action-oriented recommendations, the B20 has shown a willingness to participate in ways which stand to advance the G20’s agenda.
Such engagement will go a long way towards delivering timely, concrete and scalable actions.
Lara Birkes is Head of Strategic Initiatives at the World Economic Forum.
Image Ground crew are seen preparing Solar Impulse project. REUTERS/Jean Revillard-Solar Impulse/Handout
Real estate Sustainable development spurred by COVID-19 pandemic
There is an increasing awareness of the environmental impact of real estate: the World Green Building Council suggests that buildings are responsible for upwards of 40% of the world’s greenhouse gas emissions.
Thailand accepts World Bank’s climate change grant
Thailand has approved an acceptance draft for a 5 million dollar grant from the World Bank, to fund projects reducing the emission of environmentally harmful HFC gas.
BANGKOK (NNT) – In addition to several projects and agreements approved in the Cabinet meeting yesterday, the government has agreed to accept a 5 million dollar U.S. grant from the World Bank to reduce emissions of hydrofluorocarbon gas (HFC), which is one of the greenhouse gases affecting the globe’s ozone layer.(more…)
Covid-19: An Historic opportunity to create a more sustainable East Asia
The COVID-19 crisis is occurring at a time of fervent populist nationalism when the prospects of reliving a late-19th century-style era of ratcheting up geopolitical tension, trade protectionism and superpower rivalry are very real.
History shows that the deepest economic and social changes occur in the aftermath of major crises, catastrophes or conflicts. They have catalytic, disruptive effects on existing orders, creating new realities and different ways of thinking about the future. East Asia is now in an important phase of its history.(more…)
Covid-19: the Latest on Southeast Asia
As 2021 dawns, the coronavirus pandemic continues to develop in Southeast Asia. Many countries are preparing to receive their first...
Thailand’s slow economic recovery
The speed of economic recovery in Thailand has been slower than neighbouring countries such as Malaysia, Vietnam and China, especially...
Thailand strengthens COVID-19 control measures
Apart from the capital city, many provinces have also enforced tougher measures to contain COVID-19, with inter-provincial travels now being...
Thai Exports to grow 4% in 2021
Contributing factors include the recovering world economy and the International Monetary Fund’s (IMF) estimate that the world economy will expand...
Thai Government imposes ban on gatherings over New Year 2021 holidays
TAT would like to remind all that New Year 2021 activities have been cancelled or gone virtual nationwide to avoid...
Thai cabinet allows illegal migrant workers to sign up for 2-year work permit
Migrant workers from Cambodia, Laos, and Myanmar, who are in Thailand illegally, will be able to obtain a 2-year work...