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B20 Summit in Berlin: Shaping an Interconnected World
• B20 presenting recommendations to the G20 at B20 Summit in Berlin
• B20 calling upon the G20 to restate its firm commitment to open and rules-based markets
• B20 emphasizing its support for the Paris Climate Agreement
At the B20 Summit on May 2-3, 2017 the Business20 (B20) presents its recommendations to German Chancellor Angela Merkel, who is presiding over the G20 in 2017.
Over the past seven months, more than 700 representatives from companies and business associations from all G20 countries and sectors have developed recommendations, which strive to make the global economy more sustainable and future-oriented.
The themes of this year’s G20 presidency are: Building Resilience, Improving Sustainability, and Assuming Responsibility. These are essential pillars for growth that is not only dynamic, but also inclusive and sustainable. The B20 supports these ambitions.
“If the G20 did not exist today, we would need to create it. Through trade, investment, financial integration, data flows, and migration, our economies are growing more and more interdependent. This interdependence is a driver of economic growth and prosperity”, B20 Chair Juergen Heraeus emphasized.
However, it also means that crises can spread more easily, from country to country and region to region, and that existing opportunities can only be fully leveraged through joint efforts. “In our interconnected world, international cooperation is key – to realize the benefits but also to tackle the challenges”, Heraeus stressed.
The global business community is convinced that globalization offers tremendous opportunities. However, common rules, strong institutions, and international cooperation are necessary to shape the outcomes of globalization and ensure that everyone has the chance to benefit from it. “The G20 must meet the objective of not only fostering growth, but growth that is sustainable and inclusive.Everyone should be able to benefit from globalization,” Heraeus stated. Business is ready to carry its share of responsibility, through job creation, education and vocational training, responsible business conduct, and innovation.
The B20 is convinced that a future-oriented, sustainable, and competitive world economy can only be guaranteed if businesses keep finding innovative solutions to curtail climate change, foster the energy transition, and decrease resource intensity.
The G20 can achieve this by implementing the Paris Agreement, accelerating the market readiness and deployment of low-carbon technologies, and by establishing a Resource Efficiency Platform.
G20 members should also promote open, dynamic and inclusive labor markets by removing structural and legal barriers, promoting diverse forms of work and female employment, and by bringing labor migration policies in line with labor market needs.“Rather than echoing the populist discourse that makes globalization the scapegoat for all kinds of problems – from economic downturn to security risks – we need to focus on offering real solutions to real problems”, Heraeus called on the G20.
“Traditional barriers to trade such as access to finance, poor infrastructure, inefficient logistics, and distance to market still inhibit emerging market from the global growth path. Improving these conditions and leveling the playing field by strengthening the policy environment in emerging markets should be the primary focus of the G20”. Isaac Aggrey, B20 Taskforce Member called on the G20.
The Business 20 (B20) is the official G20 dialogue with the global business community. The mission of the B20 is to support the G20 through consolidated representation of interests, expertise, and concrete policy proposals.
Furthermore, the B20 promotes dialogue among policy-makers, civil society, and business at the international level.
The German B20 is organized by the Federation of German Industries (BDI), the Confederation of German Employers’ Associations (BDA), and the Association of German Chambers of Commerce and Industry (DIHK).
The B20 is headed by B20 Chair Juergen Heraeus (Heraeus Holding). He is assisted by the three members of the Executive Committee Dieter Kempf, President of BDI, Eric Schweitzer, President of DIHK, and Ingo Kramer, President of BDA, as well as B20 Sherpa Stormy-Annika Mildner. B20 Germany has more than 700 members from all sectors and all G20 members, representing the entire G20 business community.
You can find further information on B20 Germany here B20.