B20 Summit in Berlin: Shaping an Interconnected World.

Roberto Race (B20 member) : The world economy is becoming increasingly uncertain. In this environment it is more important than ever that we work towards an environment which fosters innovation, economic growth, and job creation

• 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.

“The B20- said the B20 member, secretary General of Competere ( www.competere.eu ) and corporate strategist Roberto Race ( http://www.robertorace.com/en/ ) - is the most authoritative setting for facing the challenges of the future. The world economy is becoming increasingly uncertain. In this environment it is more important than ever that we work towards an environment which fosters innovation, economic growth, and job creation.”