B20 ITALYFINAL COMMUNIQUÉPOLICY RECOMMENDATIONS TO THE G20

Table of Contents
FOREWORDSECTION 1 - KEY MESSAGESINCLUDE•

Empower Women and Youth, and Ensure Equal Opportunities for All•

Unlock the Digital Transformation and Build Skills for Tomorrow•

Scale up Sustainable Finance and Support Impact Investing and Financing•

Include LDCs and MSMEs in the Global Economy and Foster Access to Trade Finance

SHARE
•

Promote Open Trade and Halt Protectionism, Especially on Vaccines•

Speed up Adoption of Innovation and Achieve Broader Access to Care•

Enhance Investment in Sustainable Infrastructure and Urban Regeneration•

Promote Sustainable Governance, Increase Transparency and Fair Competition

ACT•

Accelerate the Net Zero Race, Drive the Just Transition, and Fight Climate Change•

Establish a Global Emergency Governance for Future Crises•

Reform the WTO and Strengthen International Cooperation•

Level the Digital Playing Field and Foster a Trustworthy Ecosystem

SECTION 2 - POLICY RECOMMENDATIONS AND ACTIONSPROPOSED BY THE B20 TASK FORCES•

Trade & Investment•

Digital Transformation•

Employment & Education•

Finance & Infrastructure•

Health & Life Sciences•

Energy & Resource Efficiency•

Integrity & Compliance•

Action Council on Sustainability & Global Emergencies•

Special Initiative on Women Empowerment

STATEMENT FROM THE B20 INTERNATIONAL ADVOCACY CAUCUS
APPENDIX

1

2

FOREWORD
Hard times teach us valuable lessons. We are all tasked with mastering
the new reality, whatever it will be, learning from the mistakes of thepast to emerge stronger in the future.
The world has changed drastically over the past months, a period thathas shaken the foundations of our societies, disrupting how we live andwork, and placing unprecedented strain on our families and communities. Global poverty has risen for the first time in the last two decades,
disparities across individuals and countries have been amplified, andthousands of enterprises are facing existential threats.
Over recent months, we have witnessed rapid clinical trials and medical
approvals of highly effective COVID-19 vaccines. Such an extraordinary
achievement has been made possible by close and proactive collaboration among governments, international agencies, pharmaceutical companies, and research institutes around the world.
As a result, some countries that are now running effective vaccination campaigns are at the forefront of a step-change in public health and in the relaunch of their economies. However, despite the efforts of the international community, the uneven distribution of vaccines coupled with the
emergence of new variants of the virus still affects the return to global economic growth and prosperity.
On the path to recovery, the world faces a mix of longstanding and newer vulnerabilities. Economic nationalism, trade protectionism, and unilateralism persist while international investments are decelerating.
In parallel, cybersecurity risks are growing worldwide, both in prevalence and potential to disrupt. Environmental threats and natural disasters have increased in prominence, biodiversity is being lost at alarming
rates, and the impacts of global warming increasingly highlight the fragility of our planet.
Nonetheless, there are encouraging signals: international cooperation and cross-country coordination are
now more clearly perceived as the only way forward to address common threats collectively and successfully. Most prominent multilateral forums are stepping up to respond promptly to post-pandemic challenges, and brighter economic prospects are expected in the near future, albeit scattered among regions
and sectors.
The pandemic will eventually be behind us, but for people and companies to flourish in the new reality,
they will need strong support to pivot and refocus quickly, especially in light of other present and emerging challenges.
I am deeply grateful to the President of Confindustria, Carlo Bonomi, for having entrusted me with theposition of B20 Chair, as well as to the B20 Task Force Chairs and Co-Chairs for having driven the processwith effective and forward-looking capabilities, to the over 1,000 delegates and 2,000 participants for their
hard work during these past months, to Confindustria for the outstanding intellectual and organizational
effort, to the B20 Sherpa and the Secretariat for their precious support, and to our official Partners for theirvaluable contributions.
I warmly thank the B20 Advisory Board and the B20 International Advocacy Caucus for having provided
their prominent high-level vision to our work.
Finally, the B20 Troika: to the Saudi Arabia B20 Chair goes my highest appreciation for the impressive contributions made last year when the pandemic started disrupting our lives; and to the incoming Indonesia
B20 Chair, my best wishes, encouragement, and support for her forthcoming mandate.
Emma Marcegaglia,
B20 Chair
Rome, October 2021

3

KEY MESSAGESINCLUDE•

Empower Women and Youth, and Ensure Equal Opportunities for All•

Unlock the Digital Transformation and Build Skills for Tomorrow•

Scale up Sustainable Finance and Support Impact Investing and Financing•

Include LDCs and MSMEs in the Global Economy and Foster Access to Trade Finance

SHARE
•

Promote Open Trade and Halt Protectionism, Especially on Vaccines•

Speed up Adoption of Innovation and Achieve Broader Access to Care•

Enhance Investment in Sustainable Infrastructure and Urban Regeneration•

Promote Sustainable Governance, Increase Transparency and Fair Competition

ACT

4

•

Accelerate the Net Zero Race, Drive the Just Transition, and Fight Climate Change•

Establish a Global Emergency Governance for Future Crises•

Reform the WTO and Strengthen International Cooperation•

Level the Digital Playing Field and Foster a Trustworthy Ecosystem

4We, the representatives of Business Federations and companies of the Group of 20 countries (“the B20”)
issue the current declaration at the occasion of the B20 Summit of 7-8 October 2021, in view of the G20
Summit on 30-31 October 2021.
This declaration is structured in two parts:
Section 1 - Key messages summarizing the main challenges identified by the B20 under its motto: “Reshape the Future: Include, Share, Act,” and consolidated into 12 cross-cutting macro-priorities, each detailed with four calls to action and one leading monitoring KPI (Key Performance Indicator).
Section 2 - Policy Recommendations and Actions presenting the executive summaries of the nine Policy
Papers developed within the 2021 B20 Italy cycle, and providing a total of 32 Policy Recommendations, 93
Policy Actions, and 34 Monitoring KPIs.
The statement from the B20 International Advocacy Caucus is also included.
An Appendix gives a brief overview of the B20 Italy process, its governance, and some key statistics.

RESHAPE THE FUTURE
We want 2021 to mark the beginning of a new era. Business sees solutions rather than problems, finds
consensus instead of arguing, strikes win-win balances more than conflicts. We can show the way ahead
and help make a difference, and we are committed to deploying our best efforts and resources to achieve
the targets we have set.
Leading the new reality requires close cooperation as business and governments must navigate together
the complexities of the current conjuncture while preparing for future challenges in a collective effort tominimize structural fallout, and advance global wealth and wellbeing.
Revitalizing multilateralism, fostering the “just transition,” and mindfully investing the available resources
across a range of development dimensions with sustainability at their core, will be key to powering a fairand inclusive socioeconomic recovery, ensuring long-term growth, and better cushioning against future
shocks.
We urge the G20 to decisively reclaim its role as a forum where leaders agree on the most urgent actions
and drive their enforcement at the national level by entrusting international bodies with the responsibility
to adopt binding rules where necessary.
We stand ready to share responsibilities and we offer the G20 Presidency a truly cohesive partnership.

TWELVE CROSS-CUTTING PRIORITY CLUSTERS TO DRIVE THE WAY
FORWARDThe B20 offers concrete recommendations and actions. A set of 12 cross-cutting macro-priorities defined
across the three pillars of the B20 motto provides a structured overview of those reported in the second
section of this declaration and further detailed in the nine Policy Papers annexed.
Each priority cluster contributes to achieving the United Nations 2030 Agenda by addressing multiple
Sustainable Development Goals (SDGs) as well as the G20 Priorities - People, Planet and Prosperity (3Ps).
We suggest measuring their implementation in the coming years through leading monitoring KPIs.

5

INCLUDE
While globalization and liberalization have reduced global inequalities over the last few years, and progress has been made towards ending extreme poverty and hunger, the pandemic has exposed persisting
disparities in our socioeconomic systems. A major challenge for business leaders and policy makers is tocreate a truly equitable and inclusive environment, fostering cultural change and transparent interactions
among and across private and public organizations.
By “include” we mean that nobody must be left behind: people, businesses, and countries can achieve
truly sustainable growth only by combining diversity and inclusion and by enhancing education, upskilling, and reskilling. Advanced digital technologies and applications are powerful and effective vectors toembrace new forms of learning and skills-upgrading.
Social, digital, financial, and economic inclusion can foster growth, enabling new paradigms where diversity and integration are embraced rather than feared. Exploring new frontiers of protection while ensuring
equity for individuals and organizations is crucial to building a prosperous future. A strong G20 leadershipwill prove essential to the success of this effort.
Elevating women to the center of economies would drive better development outcomes for all. Building gender-inclusive workplaces would unlock growth, resilience, and improved socioeconomic progress.
Supporting youth will be essential to shaping a robust next generation of workers aligned with the requirements of a rapidly changing labor market.
The pandemic has unleashed the power of digital, projecting our world several years into the future andaccentuating the need for expanded skills and capabilities; harmonized regulatory standards; and investments in connectivity, networks, and technologies. Developments in the digital world will enable higher
business adaptability and agility, greater corporate sustainability, growth, and welfare across communities.
Through projects that generate both financial returns and social or environmental benefits, impact investing can greatly contribute as a lever to eradicate poverty, attain food security, and expand access tocritical resources. Renewed commitment to aligning finance taxonomies and regulations, as well as harmonized global disclosure frameworks are key in this regard.
Collaboration across governments and the private sector is crucial to promote the participation of LDCs
and MSMEs in the global economy. Enabling them to fully join global value chains, including through abroader and easier access to trade finance, will reinforce the economic potential of both advanced anddeveloping communities by enhancing market competition and increasing productivity.

1

Empower Women and Youth, and Ensure Equal Opportunities for All

2

Unlock the Digital Transformation and Build Skills for Tomorrow

3

Scale up Sustainable Finance and support Impact Investing and Financing

4

Include LDCs and MSMEs in the global economy and foster access to Trade Finance

SDGs

6

3Ps

1. EMPOWER WOMEN AND YOUTH,
AND ENSURE EQUAL OPPORTUNITIES FOR ALL
A committed partnership across businesses, governments, and international institutions is essential
to empower the most important asset they have their people.
The crisis has dramatically amplified longstanding
inequalities and further widened the opportunity
divide among social cohorts.
Global job losses have been recorded particularly
among the most vulnerable, such as women, youth,elders, and the disabled.
Fully inclusive standards for women are still far frombeing achieved: at present rates, it will take several
decades to close the persisting economic gender
gap.
Work conditions of young new entrants to the labor
force have worsened markedly in many countries,
so have the socioeconomic conditions of the elderly
and individuals with disabilities.

INCLUDEIn the post-pandemic era, new ways of working
must be explored to capture the upsides of remoteand hybrid work models, by leveraging flexibility,
productivity, and work-life balance, and ensuring
they outweigh their potential managerial, operational, and technological downsides.
The G20 must lead by example, showing true initiative in conceiving and enacting a global recovery
which delivers sustainable inclusive growth for all, toemerge stronger, more innovative, and better prepared to respond to an ever-changing environment.
The G20 is called upon to map disparities and address provisions and practices preventing individuals, especially women and youth, from fully participating in society and unfairly limiting them fromadvancing in business.

Meaningful resources should be allocated to improve living conditions, to alleviate inequities andfoster financial inclusion and insurance protection.
A responsible development of digital solutions, including fintech and insurtech applications, can bea driving force, as well as investing in innovative
life-changing assistive technologies to upgrade cooperative research and development.

The B20 calls on the G20 to empower women and youth, and ensure equal opportunities for all by:▶ Reversing COVID-19 impact on women and youth, bringing them into secure employment▶ Building more equal workplace cultures that dismantle pervasive gender and age stereotypes▶ Increasing the number of women and youth in business leadership and entrepreneurship▶ Eliminating policies that contribute to discriminatory outcomes at all levels across societies

SDGs

3Ps

% of Gender Gap
in Labour Force
Participation Rate

26%

19%

2025

WORLD

Monitoring KPI

Baseline

Target

Year

Owner

Source: International Labour Organization (ILO); 20177

2. UNLOCK THE DIGITAL TRANSFORMATION
AND BUILD SKILLS FOR TOMORROW
Digital technologies are key enablers of sustainableeconomic growth, with 60% of global GDP expected
to be powered by digital in 2022.
The pandemic has further pushed organizations
around the globe across new technological frontiers, transforming operations and ways of working
that will be with us for the long haul. But in manycases, it has accentuated the digital divide, further
amplifying the call for inclusion.
Digital adoption has taken a quantum leap in boththe private and public sectors.
Business has reprioritized strategic digital roadmaps towards cloud solutions and fully remote settings to manage data and processes, and should
be supported in adapting to a quickly evolving human-machine workspace. The G20 should fill theexisting digital skills gaps to anticipate and match
future competencies and jobs.
The public sector has deployed applications thatleverage connectivity and centralized networks tosupport previously in-person, often paper-based,desk services.
Digital technologies are transforming the overall
quality of health care systems and management,
while improving patient diagnosis and treatment.

INCLUDE

Even though faster connection speeds in broadband infrastructures are unlocking use cases acrossindustries, half of the global population remains offline, limiting their access to primary services suchas health care, banking, and insurance.
It is imperative that the G20 ensures network coverage and connection quality for the underserved
and unconnected population, among others, by incentivizing private sector contribution to network
expansion and public-private partnerships.
International regulatory convergence is not keeping
pace with the latest technological advancements,
creating structural imbalances across legislations,industries, and markets, and hindering the overall
trust in the digital ecosystem.
To promote an inclusive digital transformation theG20 should stimulate high-capacity network investments to benefit everyone in the global economy
by encouraging new business models, promoting
technological neutrality, fostering transparent andefficient permit-granting procedures, and facilitating broadband networks deployment.
The G20 is called upon to support unbanked anduninsured/underinsured individuals by promoting
digital payments to tackle poverty and boost economic growth.

The B20 calls on the G20 to unlock the digital transformation and build skills for tomorrow by:▶ Treating connectivity as an essential service by increasing network coverage and capacity▶ Sustaining investments to improve supply and demand of digital products and services▶ Expanding access to finance for unbanked and uninsured individuals through digital instruments and platforms▶ Ensuring a digital-ready population by updating education systems and up/reskilling individuals

SDGs

8

3Ps

% of People
Connected
to the Internet

51%

70%

2024

G20

Monitoring KPI

Baseline

Target

Year

Owner

Source: International Telecommunication Union (ITU); 2020

3. SCALE UP SUSTAINABLE FINANCE AND SUPPORTIMPACT INVESTING AND FINANCING
The pandemic has offered investors a powerful lesson, emphasizing the relevance of responsible andforward-looking approaches, and the importanceof achieving a more sustainable economic recovery. ESG risks pose significant challenges for the
global economy and may affect financial stability.
The financial services industry plays a critical rolein helping mitigate those risks, and sustainability
is increasingly becoming a crucial consideration
when investing. For a successful transition, we urge
the G20 to work towards the definition of common
sustainable finance and circular economy taxonomies and a globally harmonized ESG disclosure
framework.
In this context, impact investments are those madewith an intention to generate positive, measurablesocial and environmental impact alongside financial returns.
Therefore, impact investments can be seen as afurther evolution compared with the broader spectrum of sustainable investments. Impact is becoming a central part of mainstream finance as additional major investors are optimizing for the three
dimensions of risk, return, and impact in all theircapital allocation decisions.

INCLUDE

Impact investing is also a powerful tool to raiseawareness and address diversity issues, enhancing
social inclusion.
Public institutions and regulators can play a strategic role in creating a policy and regulatory environment aimed at scaling private capital for public
good.
The G20, alongside international public institutions,
including central banks and multilateral development banks should act as catalysts, and leverage
private capital to scale up impact investing by supporting the launch of dedicated funds and other financial vehicles that incentivize public-private partnerships.
Supporting the development of impact investing, as
well as accelerating the adoption of global sustainability reporting and measurement standards andfostering access to affordable financial products andservices are key for G20 countries to increase financial inclusion.
Regulators should create an adequate environment
to allow financial institutions to provide long term/
patient capital for purpose-driven enterprises andprojects aimed at achieving valuable social returns.

This evolution from the traditional two-dimensional approach is transforming the very nature of capitalism.

The B20 calls on the G20 to scale up sustainable finance and support impact investing and financing by:▶ Promoting common sustainable finance taxonomies and harmonized ESG disclosure frameworks▶ Fostering the development of impact investing, harmonizing regulations, metrics and standards▶ Adopting results-based financing to scale up the flows of capital towards impact investments▶ Improving financial education and access to financial services, including insurance, for all

SDGs

3Ps

USD Bn Sizeof the impact
investing market

715

1250

2024

G20

Monitoring KPI

Baseline

Target

Year

Owner

Source: Global Impact Investing Network (GIIN); 2020

9

4. INCLUDE LDCs AND MSMEs IN THE GLOBALECONOMY AND FOSTER ACCESS TO TRADE FINANCE
The pandemic has threatened Least Developed
Countries (LDCs) the most, as their limited accessto critical assets curtails their resilience to structural
economic shocks. In addition, they still face volatile
external demand and decreased foreign direct investments.
The G20 should work alongside business to help
LDCs integrate their economies and MSMEs internationalize their activities in the global market bypromoting open trade and inclusive foreign direct
investment ﬂows.
MSMEs represent about 90% of businesses, employ
more than 50% of the workforce globally and contribute up to 40% of national income in emerging
economies. The G20 should better provide MSMEs
with entrepreneurial and managerial skills, and dedicated training programs.

INCLUDE

Critical actions should include enhancing the offering of standardized products, reducing regulatoryburden and transaction costs, clearing up the misconceptions about trade ﬁnance risks, assessing
Basel III requirements, and simplifying the overall
ecosystem with digital interoperable solutions suchas electronic transferable records, e-commerce platforms and Distributed Ledger Technologies (DLTs).
Export Credit Agencies (ECAs) and Development Finance Institutions (DFIs) should combine advisory
and lending services, provide adequate resources,
and targeted ﬁnancial risk-reducing products.

Smaller companies have been particularly affectedby the liquidity shortage caused by the current crisis, and yet they are still suffering from a ﬁnancing
gap estimated at more than $8 trillion per year.
Access to trade finance products is costly and can bedifficult. Over the last decade, there was an estimated $1.5 trillion of unmet annual demand for global
trade ﬁnance. Currently, this gap has approached$3.4 trillion - nearly 20% of global merchandise trade.
The priority for the G20 should be to narrow it down.

The B20 calls on the G20 to include LDCs and MSMEs in the global economy and foster access to Trade Finance by:▶ Promoting multilateral initiatives that foster inclusion of LDCs in international markets▶ Maximizing the impact of foreign direct investment (FDI) through multilateral facilitation schemes▶ Reinforcing ECAs’ and DFIs’ role to improve MSMEs’ risk management capabilities▶ Increasing the efﬁciency of global value chains and promote access to trade ﬁnance

SDGs% of World FDI Covered
by WTO Investment
Facilitation for Development
Monitoring KPI

10

3Ps

66%

90%

2024

WTO

Baseline

Target

Year

Owner

Source: World Trade Organizatiom (WTO); World Bank (WB); 2019

SHARETo overcome the crisis, route sustainable long-term growth perspectives and gain from their opportunities, governments and business must conceive and implement policies jointly. Enhancing responsibilities-sharing through a renewed public-private partnership will help benefits reach everyone.
With “share” we believe in conducting vaccination campaigns worldwide as extensively as they are in advanced economies, in increasing countries’ access to WHO-approved vaccines, in widening the adoptionof connected care, and in “value-based” health approaches. We advocate for open and undistorted trade,wider transparency and accountability and more sustainable infrastructure.
In recent years new forms of discrimination against foreign companies have been put in place to reflatedomestic economies and protect national interests. Such defensive measures are harmful to the global
economy, discouraging competition and innovation, and ultimately weakening industries and growth.
Rejecting protectionism and rolling back existing trade restrictions are crucial to keeping goods and people moving, to spreading innovative technologies, to allocating assets and funds more efficiently, to optimizing cost structures, and to maximizing synergies across sectors. New technologies in life sciences
can revolutionize health care services, while harmonized and interoperable digital data governance andstorage can ensure more equitable access for researchers.
We aim to foster public-private partnerships and corporate integrity and transparent governance within
all organizations and sectors, with sustainability as part of the compliance frameworks to combine shareholders’ remuneration with value-creation for stakeholders.
Calls for reshoring global value chains, localizing production, and decoupling economies should be rejected: more regional diversification and access across markets - not less - increase the scope for businesses
to operate effectively and cope with adverse shocks. Even before the pandemic, investors demanded
more social and environmentally enlightened financial tools and frameworks. This trend has now accelerated sharply, so investments in sustainable infrastructure and urban regeneration should be strongly
encouraged and facilitated to meet the UN SDGs.
Companies with a strong ethical culture are more able to attract investors, customers, and talented professionals, while sustainable governance and compliance standards contribute to higher interoperability
and resilience. Modernizing procedures, sharing best practices, and aligning processes would also lead topositive indirect effects such as avoiding corruption and unethical conduct, and ultimately maximizing
corporate performance.

5

Promote Open Trade and Halt Protectionism, Especially on Vaccines

6

Speed up Adoption of Innovation and Achieve Broader Access to Care

7

Enhance Investment in Sustainable Infrastructure and Urban Regeneration

8

Promote Sustainable Governance, Increase Transparency and Fair Competition

SDGs

3Ps

11

5. PROMOTE OPEN TRADE AND HALTPROTECTIONISM, ESPECIALLY ON VACCINES
An open, fair, and inclusive trading system would
pave the way for an additional $1.6 trillion to $1.8 trillion in G20 trade, leading to up to $8 trillion to $9
trillion G20 ΔGDP in 2024, with positive externalities
on environment and on employment.
Keeping trade open across borders and establishingcoordinated mechanisms for risk monitoring andcrisis foresight will be crucial to preventing future
roadblocks.
Trade restricting measures have been outpacing
trade facilitating measures for a half decade now.
G20 countries should lead by example and help
conclude the multilateral and plurilateral agreements under negotiation, and promote newly established ones, such as those on e-commerce anddigital trade, trade and the environment, and tradeand health.
Halting protectionism is especially critical when it
comes to the ongoing vaccination campaigns. The
G20 must firmly commit to a fair, non-discriminatory, inclusive, and more extensive supply and distribution of vaccines, modeled on principles of proportionality.
Especially in its earlier phases, the COVID-19 outbreak introduced unexpected stress on food supply
chains, provoking shortages and stock-outs, ultimately impacting food safety and security.

SHARE

A B20-G20-FAO Dialogue on Sustainable Food Systems addressed these issues, calling to address theimpact of the pandemic on most vulnerable population groups and to support the Food Coalition Initiative launched by Italy and led by FAO to mobilizefinancial support and technical expertise.
The COVID-19 pandemic is an additional threat tointernational trade as a whole, triggering uncoordinated responses, with new tariff and non-tariff barriers escalating trade frictions worldwide.
The crisis hit several industries especially hard, causing commodities and components prices to skyrocket, which disrupted, or interrupted strategic supply
chains. The G20 countries should jointly monitor
critical GVCs, ensuring that they are not hindered by
non-tariff and regulatory barriers.
Promoting interoperability of standards and the useof big-data modeling and advanced analytics is vitalto reducing vulnerabilities.
To restart international mobility, the G20 should facilitate the introduction of travel corridors based onshared, consistent metrics and following data-driven approaches, especially when dealing with themutual recognition of COVID-19 tests and digital
health passports.

The B20 calls on the G20 to promote open trade and halt protectionism, especially on vaccines by:▶ Promoting open markets over protectionism and unilateralism, committing to trade liberalization▶ Strengthening an open multilateral trading system by revitalizing ongoing negotiations▶ Expanding the number of participating countries in already established initiatives▶ Rejecting vaccine protectionism and ensure a fair and equitable distribution among all countries

SDGs% of G20 Imports
impacted by
Restrictive Measures
Monitoring KPI

12

3Ps

10%

5%

2024

G20

Baseline

Target

Year

Owner

Source: World Trade Organization (WTO); 2020

6. SPEED UP ADOPTION OF INNOVATION
AND ACHIEVE BROADER ACCESS TO CARE
COVID-19 confirmed that upfront investments inhealthcare can yield very positive welfare benefits
in the long run.
G20 countries should treat health as a strategic asset in which to invest, optimizing its return, sustaining the shift from volume to value-based healthcare, and focusing on holistic outcomes and net
value generated for patients.
Aligning health and industrial policies and fostering the development of public-private partnerships
throughout the health and life sciences supply
chains is crucial to improving overall resilience andsustainability.

SHARE

The G20 should coordinate efforts to incentivize
innovation in prevention, early diagnosis, timely
treatment, and immunization campaigns, and topromote pro-innovation health ecosystems leveraging scientific discoveries and advances in biological sciences.
The G20 should also focus on the hurdles and parameters for clinical data and set clear guidelines on
data-sharing, for both public and private research,
as well as for improved diagnosis, treatments, andcare coordination, while redesigning national accounting frameworks to unleashing resources topower innovation and achieve lasting, large-scale,and effective progress.

Another key area is the design of compatible international regulatory frameworks and harmonizednational standards to ensure adequate medical
treatments for all, regardless of location, social status, and financial availability. Technology can boost
the health insurance coverage through so-called
Insurtech.
Accelerating research and development, forging
cross-industry partnerships, developing new ways
of working in the healthcare industry, unleashing
the potential of digital health, speeding up the
adoption of novel therapies, and increasing personalized value-based care are transformationalchanges that can provide new lifesaving treatments and increase wellbeing and living standards.

The B20 calls on the G20 to speed up adoption of innovation and achieve broader access to care by:▶ Increasing accessibility to innovative health care products and services and to health insurance coverage▶ Boosting R&D public-private partnerships and reduce time-to-market for strategic research▶ Improving health systems’ responsiveness, while ensuring higher global standards of care
▶ Promoting equal access to health care treatments equipped with cutting-edge technologies

SDGs

3Ps

# of New Drugs Approved
Yearly by Reducing
Time-to-Market
Monitoring KPI

46

51

2024

G20

Baseline

Target

Year

Owner

Source: European Medicines Agency (EMA); US Food and Drug Administration (FDA); 202013

7. ENHANCE INVESTMENT IN SUSTAINABLE
INFRASTRUCTURE AND URBAN REGENERATION
Unprecedented fiscal and monetary stimulus measures have been channeled by governments andcentral banks to recover from the crisis. These flows
be translated into successful investment programs
for a sustained global recovery.
An infrastructure that is socially, economically, andenvironmentally sustainable throughout its lifecycle, is a key driver of economic growth and social
progress and a critical enabler of the UN SDGs andParis Agreement commitments.
It is time to set forth actionable proposals for sustainable infrastructure, including for healthcare, research, education, and people care. The pandemic
has changed consumer habits and demographic
trends, also changing the way we live in cities.
It is now urgent that we realize a vision for sustainable
metropolitan areas as places where citizens can access affordable and high-quality services. This is thebasis for long-term economic growth and wellbeing.
Hence it is critical to enhance infrastructure financing by incentivizing investments in sustainable projects, implementing infrastructure as an asset class,supporting cross-border planning and investing,and fostering urban and suburban regeneration
projects.

SHARE

G20 countries should incentivize sustainable infrastructure investing and scale-up their financing aspart of their broader agendas on transitioning toclimate-resilient and resource-efficient economies.
Regulators should create the right conditions to encourage private sector participation in providing thecapital to finance such initiatives.
The G20 should also promote regulatory frameworks to support regeneration projects with regard
to environmental and social priorities, for example
by incentivizing restoration of outdated areas, reuse of materials, and waste-to-energy solutions; andby promoting innovative hubs for startups and theretrofitting of health care and education infrastructures.
G20 members should promote public-private partnership models improving the conditions that foster the blending of public and private resources, apractice which mobilizes and aggregates a growing
volume of resources and reduces the perceived riskfor private investments in sustainable infrastructure.
Concurrently, the harmonization of ESG metrics andstandards, including the development of impact
measurement should be promoted to ensure accountability on the delivery of environmental andsocial goals.

Governments alone cannot afford to bridge thegrowing gaps.

The B20 calls on the G20 to enhance investment in sustainable infrastructure and urban regeneration by:▶ Facilitating public-private partnerships for co-investments in sustainable infrastructure▶ Implementing sustainable infrastructure as an asset class and standardize its taxonomy▶ Creating investment-ready projects to facilitate participation of private investors in urban regeneration▶ Improving infrastructure ﬁnancing availability by incentivizing investment in this area of lending

SDGs

USD Tn of Annual
infrastructure investment
required to meet theParis Agreement goals
Monitoring KPI

14

3Ps

6.9

5

2024

G20

Baseline

Target

Year

Owner

Source: Organization for Economic Co-operation and Development (OECD); 2017

8. PROMOTE SUSTAINABLE GOVERNANCE,INCREASE TRANSPARENCY AND FAIR COMPETITION
Integrity and compliance are among the top priorities for businesses. Policies and actions linked
to the macro themes of integrity and compliancecan bring a signiﬁcant contribution to major transitions, both ecological and digital, strengthening
the resilience of the economic systems as well as
their ability to mitigate inequalities.
Increasing the efﬁciency of public administration
while reducing the opportunities for corruption iskey, especially in the procurement cycle.
Business calls for increasing transparency, integrity,
and accountability throughout the procurement
cycle and leveraging emerging technologies toprevent and detect instances of corruption to establish more inclusive processes and more equitable competition.
An essential element is the leveraging of public-private cooperation in disseminating best practices, also by implementing initiatives such as Collective Action. To this end, rewarding systems andvoluntary management commitments must be
enhanced.
Strengthening the link between transparency andpublic-private cooperation through the dissemination of programs and measures to prevent illegality
and corruption will be crucial.

SHARE

Now more than ever, the implementation of effective sustainable governance is paramount toachieving sustainability objectives, and promoting
a new concept that combines the ability to remunerate shareholders while creating value for stakeholders.
Such a new vision aims to create governance practices that integrate sustainability into the compliance frameworks and business processes. Transparency remains key to disseminating non-ﬁnancial
reports and monitoring integrity standards alongsupply chains.
The G20 should promote good governance practices in large companies and SOEs, tightly linked to
the leading role they play in the marketplace.
On a global scale, the ﬁght against malpractice isessential, as well as the focus on the harmonizationof beneﬁcial ownership transparency standards tofoster the effectiveness of information exchangemechanisms. Furthermore, it is essential to increase the accuracy of public registers and their accessibility by the Control Authorities to favor a levelplaying ﬁeld.
The G20 should foster the development of comprehensive digital public beneﬁcial ownership national registers to increase transparency and improvethird-party risk management.

The B20 calls on the G20 to promote sustainable governance, increase transparency and fair competition by:▶ Increasing the efficiency of public administrations in fostering transparency and anticorruption▶ Strengthening sustainable governance and cooperation between public and private sector▶ Promoting cooperative compliance models and rewarding systems▶ Fostering beneficial ownership transparency contributing to level the playing field

SDGs

3Ps

% Level of Public-Private
Corruption andWhite-Collar Crimes

46%

40%

2024

GRP1

Monitoring KPI

Baseline

Target

Year

Owner

Source: Global Corruption Index, Global Risk Profile; 2020
1
Global Risk Profile

15

ACT
The world cannot afford to wait until the pandemic is over to start planning for the future. Today, leaders
face an incredible opportunity to act together to shape a new global agenda with renewed governance,cooperation, and strategy, both at the domestic level and on the multilateral stage.
When we come to “act,” we strive for a global resilience that is not just about weathering the storm, butrather ensuring readiness for whatever comes next, by enhancing international preparedness, coordination of consistent contingency plans, global disaster governance, reinforced critical information infrastructure, improved data security protocols, and increased resilience across global value chains.
Aligned and firm commitments are also required to accelerate the transition to a carbon-neutral, environmentally sustainable, and inclusive economy, and to deliver on Paris Agreement goals.
Achieving a “just transition” to a carbon-neutral economy requires a truly inclusive process, where all technological options are considered, harmonized carbon pricing mechanisms act as market stabilizers, andenergy end-uses shift to clean energy, and circular economy practices are incentivized.
International coordination among governments and consistent actions from all stakeholders including
the private sector, and non-governmental organizations can enhance global preparedness against future
emergencies, limiting both direct and indirect impacts on countries, economies, and people.
Multilateral organizations have delivered remarkable gains over the past decades and can help secure
future prosperity. Economies cannot flourish without a robust multilateral rules-based trading system andthe reform of the World Trade Organization (WTO) is among the highest priorities.
Cross-country collaboration will contribute to sustained growth in the digital economy. Harmonized regulatory principles and standards would foster fair competition, secure privacy protection, facilitate dataflows across borders, and enable convergence towards interoperable standards. An extra effort in improving cybersecurity will foster trust in the digital ecosystem, will guarantee efficient markets and mitigate
potential threats across systems.

9

Accelerate the Net Zero Race, Drive the Just Transition, and Fight Climate Change

10

Establish a Global Emergency Governance for Future Crises

11

Reform the WTO and Strengthen International Cooperation

12

Level the Digital Playing Field and Foster a Trustworthy Ecosystem

SDGs

3Ps

16

9. ACCELERATE THE NET ZERO RACE, DRIVE THE
JUST TRANSITION, AND FIGHT CLIMATE CHANGE
Climate change is not a future threat, but a present
crisis that requires unambiguous and immediate
action.
In the post-industrial era, the rate at which theglobal economy has consumed food, water, andenergy has caused a structural imbalance between
the supply of and demand for natural resources,
with a steady increase in greenhouse gases leading
to environmental degradation—putting millions of
lives at risk.
Despite the increasing awareness about sustainability, the international response is not sufﬁcient
to reverse the trend: the world is currently consuming natural resources at 1.75 times the rate at which
our planet can regenerate them.
The COVID-19 pandemic did cause a sharp shortterm drop in energy demand (global CO2 emissions
recorded the largest annual decline since WorldWar II), but this temporary reduction is unlikely toturn into a longer-term trend and will have only
marginal impacts on the build-up of greenhousegases in the atmosphere. Indeed, monthly global
carbon emissions have already exceeded pre-pandemic lockdown levels.
Guided by the latest technological developments,
we can accelerate the decarbonization of the global economy and the transition towards sustainableenergy models.

ACT

The limited comparability and consistency of theinformation disclosed in voluntary climate-related
risk and opportunity assessments make it necessary to harmonize taxonomies and global reporting
frameworks.
Countries’ commitments are far from what is required to reach the targets of the Paris Agreement.
Several challenges are now more pressing thanever and should be addressed immediately.
Each country must tackle global warming througha larger effort in accelerating the transition of its
energy system towards a sustainable and carbon-neutral energy mix with an efficient use of energy also by modernizing and digitizing infrastructures.
Inequalities across communities should be narrowed, ensuring meaningful universal access tocritical resources such as clean energy and water tocreate sustainable growth while improving qualityof life.
The G20 must commit to the preservation and restoration of natural ecosystems, reduce global plastics pollution, and halt loss of biodiversity. Barriers
to circularity and recycled materials should be removed to facilitate an extended lifecycle of products, as well as the reuse and remanufacturing ofgoods.

The B20 calls on the G20 to accelerate the net zero race, drive the just transition, and fight climate change by:▶ Shifting energy end-uses towards clean renewable energy, and incentivize circularity practices▶ Promoting decarbonization, substitute fossil fuels and align on carbon pricing mechanisms▶ Leveraging digital technology for sustainability, and harmonizing global ESG disclosure frameworks▶ Preventing environmental degradation, biodiversity depletion, and overexploitation of resources

SDGs

3Ps

Gigatons of Global
Energy-Related
CO2 Emissions

34Gt

21Gt

2030

WORLD

Monitoring KPI

Baseline

Target

Year

Owner

Source: Net-Zero Emissions by 2050 Roadmap, International Energy Agency (IEA); 2021

17

10. ESTABLISH A GLOBAL EMERGENCY
GOVERNANCE FOR FUTURE CRISESThe current pandemic is an unprecedented wakeup call demonstrating the intrinsic fragilities of ourworld and the urgent need for effective and coordinated actions.
As countries recover from the crisis, managing
disease progression and rallying around concrete
solutions continues to be a priority. The deep interconnections among socioeconomic systems
show that any seemingly localized crisis can rapidlytransform into an international threat.
Humanity has already approached crucial tipping
points, especially regarding climate change andbiodiversity loss. Crossing these boundaries would
mean venturing into the unknown, facing the riskof abrupt and irreversible changes.
Risk monitoring and crisis foresight are critical for
prevention and effective responses. Additionally,a predictable and reliable regulatory framework
is necessary to accelerate decarbonization andachieve sustainability, by creating fair and attractive market conditions on a global scale.

ACTand minimizing systemic risks and the impact ofnatural catastrophes.
As it unfolds, the G20 should implement effective
and timely responses which are coordinated andcooperative, foster public-private partnerships, andensure financial support with the involvement of
the insurance and financial industries.
In its aftermath, the G20 should develop mechanisms for a sustainable recovery and the transition
to a new normality, leveraging the lessons learned.
The G20 should not look at each phase as a standalone step, but as part of an integrated and iterative process aimed at reinforcing global emergency governance and strengthening the partnerships
between and within businesses and countries
against future disruptions.

For overall prevention and mitigation to prove effective, governments and the private sector need
to follow a structured approach, acting reliably ineach of the three main phases of all emergencies.
Before a crisis happens, the G20 must enhance preparedness, improving the accuracy of predictions

The B20 calls on the G20 to establish a global emergency governance for future crises by:▶ Setting up a global governance to ensure evidence-based decision-making during crises▶ Enhancing international preparedness and encourage common responses to global shocks▶ Promoting coherent recovery plans, also through innovative post-disaster financing schemes▶ Building public-private partnerships to monitor, mitigate and address systemic risks

SDGs

18

3Ps

Environmental
Performance
Index

44

55-60

2030

G20

Monitoring KPI

Baseline

Target

Year

Owner

Source: Yale University; Columbia University; 2020

11. REFORM THE WTO AND STRENGTHENINTERNATIONAL COOPERATION

ACT

The multilateral trading system - with the World
Trade Organization at its center - is facing the deepest crisis since its inception as all WTO functions areunder pressure to stay relevant and the Organization requires an unambiguous reform.

Old and new negotiations would benefit from
more effective principles on Special and Differential
Treatment (SDT) and discipline on subsidies should
be tailored according to the needs of today’s global
economy.

Such a comprehensive process would restore confidence and increase its ability to address fundamental flaws in trade monitoring, rulemaking, anddispute resolution.

The Trade Policy Review mechanism should enhance the accountability and compatibility ofmembers’ trade policies.

The appointment of its new Director General marks
a fresh chapter in the history of the WTO, and provides the opportunity to revitalize the organization.
Business offers its full and comprehensive support.
A better balance of the different WTO bodies would
reinforce the institutions both internally and towards external stakeholders.
Reestablishing and improving the dispute settlement system, beginning by filling the vacant Appellate Body seats, must stand at the top of the
WTO and G20 agendas.
Updated rules and increasingly transparent policy
formulation would deflect pressure from the dispute settlement process, while stricter and more
rigorous notification procedures and improved
monitoring mechanisms would support thefact-finding activities of litigation panels.

The G20 should aim to strengthen WTO governance and accountability, updating the existing
rulebook, accelerating new rule making, and promoting coherence between trade policies and other international regimes.
While the multilateral approach remains the preferred option, open plurilateral negotiations andjoint initiatives are valuable complementary tools.
Ongoing negotiations on Trade & Health, on Domestic Services, and on E-Commerce are excellent
examples.
Business looks forward to engaging constructively with the G20 and the WTO members on an ambitious agenda to enhance the functioning of the
WTO and to ensure its relevance in the 21st century.
Further expanding the dialogue with the business
community will prove essential for achieving thisgoal.

The B20 calls on the G20 to reform the WTO and strengthen international cooperation by:▶ Filling the vacant Appellate Body seats and re-establish an improved dispute settlement system▶ Improving the WTO notifications, and update the Special and Differential Treatment (SDT)▶ Updating key WTO Agreements, including on Subsidy and Countervailing Measures (SCM)▶ Enhancing the dialogue with the business community to review the effects of trade barriers

SDGs% of Implementationof WTO Trade
Facilitation Agreement
Monitoring KPI

3Ps

70%

80%

2024

WTO

Baseline

Target

Year

Owner

Source: World Trade Organization (WTO); 2021

19

12. LEVEL THE DIGITAL PLAYING FIELD
AND FOSTER A TRUSTWORTHY ECOSYSTEM
The evolution of digital technology is enabling innovative business models, redefining traditionalboundaries for industry, and exploring new paradigms of digital ecosystems, but it involves anunprecedented need for interoperable standards
across borders and technological domains to enable businesses and governments to better manage growing data flows.
Leveling the digital playing field is paramount tocreate greater confidence in the technological ecosystem.
International alignment on regulatory principles
and standards is not keeping pace with technological changes, and that generates structural imbalances and distortions across countries, industries,
and companies, and hinders the development ofopen platforms and open-source communities.

ACT

The G20 must prioritize the harmonization of regulatory principles, while encouraging the adoptionof shared taxation frameworks, simplified rules topromote competitive and efficient markets, andcomprehensive and coherent international and national privacy regulations.
The G20 should promote the adoption of common
standards to facilitate technological interconnections, improving innovation potential and avoiding
platform lock-ins.
With data traffic and exchange on the rise, being
equipped against cyberattacks has become a key
priority. The G20 should pursue risk-based technicaland procedural security approaches to safeguard
critical activities, services, and infrastructures on asector-by-sector basis.

Financial services also must deal with the challenges and risks imposed by the digital transformation
and require a combination of innovative regulations and efficient supervision to support theirtechnological evolution.
Diverging approaches on topics ranging from Artificial Intelligence (AI) to privacy, digital taxation,
and Data Free Flows with Trust (DFFT), risk erecting walls around national cyberspaces, which will
increase cost and complexity for businesses andindividuals.

The B20 calls on the G20 to level the digital playing field and foster a trustworthy ecosystem by:▶ Ensuring fair competition in digital by harmonizing regulatory and taxation principles▶ Enacting comprehensive and coherent privacy regulations also to enable free data flows▶ Facilitating multilateral and multi-stakeholder discussions to establish cybersecure networks▶ Fostering the adoption of harmonized technological standards to promote interoperability

SDGs% of Countries
with Data Protetion
and Privacy Legislation
Monitoring KPI

20

3Ps

66%

100%

2024

G20

Baseline

Target

Year

Owner

Source: United Nations Conference on Trade and Development (UNCTAD); 2020

POLICY RECOMMENDATIONS
AND ACTIONS PROPOSEDBY THE B20 TASK FORCES•

Trade & Investment•

Digital Transformation•

Employment & Education•

Finance & Infrastructure•

Health & Life Sciences•

Energy & Resource Efficiency•

Integrity & Compliance•

Action Council on Sustainability & Global Emergencies•

Special Initiative on Women Empowerment

21

WHY TRADE AND INVESTMENT MATTER
Trade and Investment are key engines of economic growth, competition,
innovation, employment, and social wealth.
However, in the 2010s, global trade and FDI experienced a slowdown.
In addition, the health, social and economic emergency sparked by the outbreak of COVID-19 has exacerbated the negative impact of geopolitical turmoil and of rising protectionism and economic nationalism.

GLOBAL TRADE
2020 Vs 2019

Business is committed to revamping global trade and investment and toreshaping their multilateral governance; to this end, the B20 Task Force
identified four Policy Recommendations to drive actionable change.

GLOBAL FDI
2020 Vs 2019

FOUR POLICY RECOMMENDATIONS TO THE G20WORLD TRADE OPENNESS
Promote open markets over protectionism and unilateralism, reform the WTO, and revitalize trade negotiations ensuring a level playing field.

MSMES AND FINANCE INCLUSION
Facilitate the participation of all businesses, in particular MSMEs, in global trade by removing barriers
and improving their access to trade financing.

CROSS-BORDER EFFICIENCY
Enhance trade responsiveness against future disruptions, free cross-border transactions and enable
more resilient Global Value Chains.

FDI AND TRADE SUSTAINABILITY
Make trade and investment impactful drivers for agreener and more sustainable development, andincrease FDI flows.

MONITORING KPI TO TRACK THE IMPLEMENTATION
For further details on KPIs, please refer to the full Policy Paper% of G20 Imports Impacted
by Restrictive Measures
10%

Tn $ of Trade Finance Gap(Supply-Demand)5%

3.4 Tn $% of Implementationof WTO
Trade Facilitation Agreement70%% of World FDI Covered by WTO
Investment Facilitation for Development
80%

Actuals 2024 Targets
22

2.0 Tn $66%

90%

IMPACT OF TRADE AND INVESTMENT POLICYRECOMMENDATIONS ON G20 COUNTRIES
G20 Trade in Goods Tn $Alternative Scenarios
Optimisticenhancing open, fairand inclusive trading system
Incrementalist
improving gradually the trading system
Status Quomaintaining the current trend
Pessimistic
rising protectionism and unilateralism

2024 ADDITIONAL TRADE AND GDP$ 1.6-1.8 Tn

UP TO
Additional Trade value
G20 perimeter; vs status quo$ 8-9 Tn

UP TO
Additional GDP value
G20 perimeter; vs status quo

Source: World Trade Organization; Asian Development Bank; World Bank; International Monetary Fund; United Nations;
Organization for Economic Co-operation and Development; Boston Consulting GroupTASK FORCE LEADERSHIPChair
TF Manager

Barbara Beltrame Giacomello - Confindustria
Marco Felisati - Confindustria

Co-Chair

Ajay Banga - Mastercard

Co-ChairLevent Çakiroglu - Koç Holding

Co-Chair

Shinta Widjaja Kamdani - Sintesa Group

Co-ChairMasakazu Kubota - Keidanren

Co-Chair

Paolo Rocca - Techint Group

Co-Chair

Ingrid Sinclair - Sims Metals

Co-Chair

Livio Vanghetti - Philip Morris International

Co-ChairJianlong Yu - CCOIC
23

POLICY RECOMMENDATIONS AND ACTIONS
Recommendation 1: Promote open markets over protectionism and unilateralism, reform the WTO,
and revitalize trade negotiations ensuring a level playing field
Policy Action 1.1: Commit to the widest possible open market access, roll back existing restrictions and refrain from adopting new ones including on vaccines, medical goods and agri-food products
Policy Action 1.2: Reform the WTO and re-establish an improved dispute settlement mechanism to re-enable the organization’s role at the center of the rules-based multilateral trade and investment system
Policy Action 1.3: Foster and strengthen an open multilateral system by updating, revitalizing and accelerating ongoing negotiations and initiatives, as well as by addressing new emerging topics
Recommendation 2: Enhance trade responsiveness against future disruptions, free cross-border transactions and enable more resilient Global Value Chains
Policy Action 2.1: Adopt international trade-related strategies including green-lanes to ensure open
cross-border flows and COVID-19-free mobility
Policy Action 2.2: Upgrade customs processes by aligning interpretation of nomenclatures, revitalizing theHarmonized System, harmonizing the customs origin procedures, promoting the mutual recognition of
Authorized Economic Operators, and digitizing cross-border activities
Policy Action 2.3: Increase the resilience of Global Value Chains by promoting higher homogeneity of standards and by enhancing trade infrastructures
Recommendation 3: Facilitate the participation of all businesses, in particular MSMEs, in global tradeby removing barriers and improving their access to trade financing
Policy Action 3.1: Foster the inclusiveness of MSMEs in global trade, by supporting the development of digital skills and digital infrastructures, and broadening the adoption of cross-border electronic transferable
records
Policy Action 3.2: Facilitate the access of business to standardized trade finance instruments, by loweringtransaction costs and regulatory burdens, while simplifying their processes
Policy Action 3.3: Support the participation of business in global trade by leveraging and updating the roleof Export Credit Agencies and Development Finance Institutions
Recommendation 4: Make trade and investment impactful drivers for a greener and more sustainable
development, and increase FDI flows
Policy Action 4.1: Advance the WTO contribution to trade and environment, foster liberalization of trade ingreen goods and services, promote regulatory cooperation to accelerate clean energy transition, resource
efficiency and circular economy
Policy Action 4.2: Facilitate and support Foreign Direct Investment flows, with a special focus on sustainability and inclusiveness24

WHY DIGITAL TRANSFORMATION MATTERS
Digital Transformation is increasingly becoming a global engine of sustainableeconomic growth. COVID-19 has further thrown a spotlight on the role of technologies in ensuring global resilience.
Network capacity and coverage are growing in importance, data consumption
is rising exponentially, privacy and cyber security are becoming top-of-mind
priorities, while individuals, institutions and firms which lack digital means or
skills risk to be left behind.
Our commitment is to unleash the full potential of the Digital Transformation
as driver of both economic and social relaunch.

GLOBAL GDP
ENABLED BY DIGITAL
by 202280+

CO2 REDUCTION
DRIVEN BY DIGITAL
by 2030

FOUR POLICY RECOMMENDATIONS TO THE G20

CONNECTION EQUALITY
Speed up the roll-out of high-capacity future-proof digital infrastructures, enhance
technology accessibility, and create on-ramps
to the digital economy for the excluded to foster
innovation, competition, cooperation, as well as
inclusion and sustainability.

PUBLIC AND PRIVATE DIGITAL ADVANTAGE
Foster Governments’ and companies’ responsible
development and deployment of digital technologies, by leveraging public and private cooperation in R&D, promoting investments and effective use cases sharing.

TRUST IN THE DIGITAL ECOSYSTEM
Harmonize regulatory principles to facilitate faircompetition and efficient markets; promote trust in
the digital ecosystem by enhancing cybersecurity
and privacy protection, and encourage the adoptionof interoperable policy frameworks and common
standards to facilitate cross border data flows.

DIGITAL READY AND INCLUSIVE SOCIETY
Address the existing digital skills gap in theprivate and public sector by mapping current
shortages, up/re-skilling individuals, updating
education curricula and encouraging a mindful
usage of technologies.

MONITORING KPIs TO TRACK THE IMPLEMENTATION
For further details on KPIs, please refer to the full Policy Paper% ICT Investments on GDP% of People Connectedto the Internet
51%

70%

5.2 %

% of Countries with Data Protection
and Privacy Legislation
66%

100%

Actuals 2024 Targets

6,5 %% of STEM Graduates on Total Graduates(G20 average)
24 %

30 %

25

DIGITAL USE CASE LIBRARY
The B20 Digital Transformation Task Force provides the Foundation for a Digital Use Case Library as a
Legacy of the B20 Italy, to be integrated by future B20 cycles.
It aims at creating a global and accessible Platform to foster Digital Transformation across International
Institutions and Business Communities.

Technologies
CoveredOrganizations
Contributing
Digital Use
Cases Collected

Industries
Represented

Source: World Economic Forum (WEF), International Telecommunication Union, United Nations Conference on Trade andDevelopment (UNCTAD), International Data Corporation (IDC), World Development Indicators (WDI), Organization for Economic
Co-operation and Development (OECD)TASK FORCE LEADERSHIPChair
TF Manager

26

Maximo Ibarra - Engineering
Valentina Carlini - Confindustria

Co-ChairAmrote Abdella - Microsoft 4Afrika

Co-ChairDan Bryant - Walmart

Co-ChairHans-Paul Bürkner - Boston Consulting Group

Co-Chair

Börje Ekholm - Ericsson

Co-Chair

Klaus Rosenfeld - Schaeffler Group

Co-ChairDiane Wang - DHGate.com

POLICY RECOMMENDATIONS AND ACTIONS
Recommendation 1: Reduce Connection Inequalities: Speed up the roll-out of high-capacity future-proof
digital infrastructures, enhance technology accessibility, and create on-ramps to the digital economy forthe excluded to foster innovation, competition, cooperation, as well as inclusion and sustainability
Policy Action 1.1: Enable and support the deployment and take-up of high-capacity and robust Fixed, Mobile
and Satellite Broadband Connectivity across areas to expand worldwide network coverage and increase connection capacity, also leveraging most advanced technologies
Policy Action 1.2: Promote technology accessibility by endorsing public - private partnerships and supporting
private efforts to foster meaningful and inclusive connectivity for all, especially, but not limited to, developing
countries
Recommendation 2: Promote Trust in the Digital Ecosystem: Harmonize regulatory principles to ensure faircompetition and efficient markets; promote trust in the digital ecosystem by enhancing cybersecurity andprivacy protection, and encourage the adoption of interoperable policy frameworks and common standards
to facilitate cross-border data flows
Policy Action 2.1: Harmonize regulatory principles and simplify rules for all participants in the digital economy
to ensure fair competition and enable efficient markets; foster responsible use and free flow of data with trust
leveraging the work of international working groups
Policy Action 2.2: Incentivize multilateral dialogue between Governments, International Organizations, in consultation with Businesses and all other stakeholders of digital society to grant responsible state behavior incyberspace and get broad buy-in for the use of a solid framework on security tools, protocols, and procedures
across industries, reflecting their exposure to cyber risk
Policy Action 2.3: Support technological innovation with policies that promote interconnection, interoperability, and the adoption of market driven, global, open, and voluntary standards and codes of conduct with theaim of fostering usage of cross-domain solutions and data porting
Recommendation 3: Support Public and Private Digital Advantage: Foster Governments’ and companies’
responsible development and deployment of digital technologies, by leveraging public and private cooperation in R&D, promoting investments and effective use cases sharing
Policy Action 3.1: Strengthen long-term public involvement to stimulate R&D in new technologies, while ensuring a fruitful cooperation with the private sector and promoting responsible, sustainable, human-centered,and market-driven development
Policy Action 3.2: Facilitate investments in digital technologies (HW, SW) and reorganization processes thatenhance companies’ and Governments’ technological development and cyber protection, by leveraging effective and non-market distorting funding schemes, providing technical advisory services, and stimulating
use case sharing, especially for MSMEs
Recommendation 4: Foster a Digital Ready and Inclusive Society: Address the existing digital skills gap in
the private and public sector by mapping current shortages, up/re-skilling individuals, updating education
curricula and encouraging a mindful usage of technologies
Policy Action 4.1: Define national strategies to address digital skills gap in private and public sectors, also ensuring that efforts and investments are channeled towards top priorities to grant new job opportunities in all
sectors
Policy Action 4.2: Improve provision of digital skills at schools and universities to promote the creation of adigital-ready workforce, able to harness the power of digital technologies while recognizing the associated risk

27

WHY EMPLOYMENT & EDUCATION MATTER
Recent years have seen the increasing influence of technology on employment and education, fromallowing new, flexible forms of work, to automating tasks and stimulating the 4th Industrial Revolution.
Workforces and education systems have struggled to keep up with the pace of change, resulting inwidening skills gaps, stagnant productivity, and persistent challenges around formality and inclusion.
School curricula and teaching approaches have not adapted to the 21ST Century economy, nor the impending human+machine workplace. The urgency also applies to lifelong learning, which remains inadequate worldwide.
The Covid-19 pandemic has accelerated these workplace transformations, as well as generating a global
employment crisis that is especially devastating to smaller companies and already-vulnerable parts of
the workforce.

THREE POLICY RECOMMENDATIONS TO THE G20

PREPARING WORKFORCE SKILLS FOR FUTURE
INDUSTRIAL REVOLUTIONS
Prepare adults and children for a fast-evolving
human+machine workplace with fast-evolving
skills demands.

IMPROVING LABOUR MARKET POLICIES AND
REGULATORY FRAMEWORKS TO DRIVE PRODUCTIVITY AND GROWTH
Accelerate the implementation of labour market
reforms, in partnership with the private sector
and all stakeholders, to ensure dynamic and flexible labour markets that drive total factor productivity and a sustainable recovery.

ENSURING INCLUSIVE OPPORTUNITIES AS WEREBUILD THE WORKPLACE OF THE FUTURE
Partner with the private sector and with civil society experts and organisations to activate and formalise the full labour force, building a human-centred recovery and a fully-inclusive future of work.

ASSESSMENT OF G20 IMPLEMENTATION OF B20 PROPOSALS,
2018-2020
Uptake Of B20 Recommendations In G20 Commitments 2018-2020

0
Inadequate
28

1
Poor

2
Fair

3
Good

Average assessment out of 10…
when G20 employers were asked whether the priorities of the G20 National Employment
Plan reflected their national employment challenges.

Average assessment out of 10…
when G20 employers were asked whether their national governments fully implemented
measures to address the priorities of the G20 National Employment Plan.

MONITORING KPIs TO TRACK FUTURE PROGRESSFor further details on KPIs, please refer to the full Policy Paper% of Youth not in Employment,
Education or Training
8.4%-26.9%

Female Labour Force Participation Rate
6.1%-15.7%

52.4%-76.4%

66.5%-81.1%

Public investments in ALMPs,
as a proportion of national income:[we urge the G20 to promote a wider collection of this data]

Actuals 2024 Targets

TASK FORCE LEADERSHIP
Chair

Gianpietro Benedetti - Danieli

TF Manager

Stefania Rossi - Confindustria

Co-ChairRenate Hornung Draus - BDA

Co-ChairZhu Hongren - CEC

Co-ChairDavid Iakobachvili - RSPP

Co-Chair

Erol Kiresepi - IOE

Co-ChairMthunzi Mdwaba - Tzoro/ILO

Co-ChairYves Perrier - Amundi

Co-ChairJulie Sweet - Accenture

29

POLICY RECOMMENDATIONS AND ACTIONS
Recommendation 1: Preparing workforce skills for future industrial revolutions
Policy Action 1.1: Forge partnerships across sectors to meet future workforce and skills needs – In the context of future industrial revolutions and sustainability imperatives, foster collaboration between business,government, higher-education institutions and NGOs on workforce and skills anticipation and planning
Policy Action 1.2: Build effective lifelong learning systems – Enhance lifelong learning systems by upgrading curricula, utilising modern teaching techniques, improving transitions between study and work, andintegrating effective financing and career management approaches.
Policy Action 1.3: Rethink physical and digital learning infrastructures – Ensure digital access for learning
to all citizens whilst optimising the blend of physical and digital learning approaches.
Recommendation 2: Improving labour market policies and regulatory frameworks to drive productivity
and growth
Policy Action 2.1: Support entrepreneurship to drive business recovery, growth and employment – Enable
entrepreneurs to create jobs at scale through supportive regulatory frameworks, training opportunities,
and varied funding sources for SMEs, and by encouraging the teaching of entrepreneurship skills for all
Policy Action 2.2: Promote diverse forms of work to stimulate job creation and growth – Adapt legislationand labour laws to recognise different contractual forms of work, accompanied by appropriate social protections and technologies that enable people and firms to choose different ways of working
Policy Action 2.3: Improve the effectiveness and efficiency of Active Labour Market Policies (ALMPs) –Work across public and private sectors to improve the efficiency and effectiveness of ALMPs, including
vocational training, work transition support, wage support and public works programmes, to guarantee
income security for all and protect vulnerable groups in society
Recommendation 3: Ensuring inclusive opportunities as we rebuild the workplace of the future
Policy Action 3.1: Stimulate youth employability and youth employment – Enact evidence-based youth
policies, including Vocational Education and Training (VET), apprenticeships, internships, externships, andthe promotion of partnerships across public and private sectors to accelerate job creation.
Policy Action 3.2: Empower women across the workforce – Dismantle obstacles to female employment,
and accelerate and incentivise training opportunities and job creation for women at all levels, including
through strengthened family-care provision.
Policy Action 3.3: Foster healthy, decent, formal work for all, with appropriate social protections – Develop
incentives to formalise work, ensure social protection for all, and safeguard workforce health, safety andwell-being.

30

WHY FINANCE AND INFRASTRUCTURE MATTERThe post-COVID-19 era brings new critical challenges and accelerates key ongoing priorities, including
the need to: promote sustainable finance and financial inclusion by supporting the development of ESG
and impact investing and by accelerating the adoption of global sustainability reporting and measurement standards; enhance infrastructure financing by incentivizing investments in sustainable infrastructure projects and by fostering projects of urban regeneration; foster SMEs and corporates accessto capital and credit; accelerate digitalization and innovation processes in the financial sector; increase
the efficiency of global and regional Value Chains; support global financial regulatory coherence andsystemic risk coordination.
The B20 Finance & Infrastructure Task Force identified four Policy Recommendations to drive actionable change.

FOUR POLICY RECOMMENDATIONS TO THE G20

SUSTAINABLE FINANCE AND FINANCIAL
INCLUSION
Promote sustainable finance and financial inclusion by supporting the development of ESG and
impact investing, accelerating the adoption of
global sustainability reporting and measurement
standards and by fostering access by individual andmicro businesses to financial products and services.

INFRASTRUCTURE FINANCING
Enhance infrastructure financing by incentivizing investments in sustainable infrastructure
projects, implementing infrastructure as an asset
class, supporting cross-border planning & investing, and by fostering projects of urban and suburban regeneration.

GROWTH ENGINES
Support sustainable economic growth by fostering SMEs access to capital, promoting Open Innovation, accelerating digitalization and innovation
processes in the financial sector, and by increasing the efficiency of Global Value Chains (GVCs).

GLOBAL REGULATORY ENVIRONMENT
Review the financial sector regulatory framework
to ensure that it can support economic resilienceduring crisis, by addressing climate change systemic and pandemic risks, improving prudential
measures and NPL regulations, and reviewing nonbank financial sector’s regulation.

31

MONITORING KPIs TO TRACK THE IMPLEMENTATION
For further details on KPIs, please refer to the full Policy Paper

Size of the impact investing market
usd 715bn% of people with a bank(or mobile money) accountusd 1250bn

69 %Annual infrastructure investment required
to meet the Paris Agreement goals
usd 6.9tn

80 %MSMEs financing gap per year

usd 5tn

usd 8tn

usd 5tn

Yearly cost for financial institutionsof regulatory fragmentation
usd 780bn

usd 700bn

Sources: Global Impact Investing Network (GIIN) - 2020;
World Bank - The Global Findex; OECD; IFC - World Bank;OECD and IFAC

Actuals 2024 Targets

TASK FORCE LEADERSHIPChair
TF Manager

32

Carlo Messina - Intesa Sanpaolo
Francesca Brunori - Confindustria

Co-ChairTimothy Adams - Institute of International Finance

Co-ChairSujoy Bose - National Investment and Infrastructure Fund

Co-ChairJohn W.H. Denton - International Chamber of Commerce

Co-ChairRobert S. Kapito - BlackRock

Co-ChairLubna Olayan - Olayan Financing Company

Co-ChairZhang Xiaolun - China National Machinery Industry Corporation

POLICY RECOMMENDATIONS AND ACTIONS
Recommendation 1: Sustainable Finance and Financial Inclusion
Promote efforts to scale up sustainable finance and financial inclusion by supporting the development of
ESG and impact investing, accelerating the adoption of global sustainability reporting and measurement
standards and by fostering access by individuals and micro businesses to affordable financial products
and services.
Policy Action 1.1: Policymakers should work towards the harmonization of regulations, metrics and reporting standards of dedicated impact investments, including the development of impact measurement
methodologies, to ensure market integrity and enhance transparency. These efforts should be aimed at
capturing external impacts of investments with a clearly articulated impact objective in a manner thancan contribute to improving investor decision-making, with the aim of scaling up flows of capital towards
impact investment opportunities that can address pressing social and environmental challenges. MDBs
and governments could provide incentives and other financial mechanisms to encourage private sector
investments, launch specialized impact funds to mobilize private savings toward impact investments andsupport Public and Private frameworks for the adoption of results-based financing solutions.
Policy Action 1.2: The G20 should give a clear mandate to international institutions to work towards thedefinition of common sustainable finance and circular economy taxonomies and the alignment of ESG
disclosure frameworks, ensuring consistent implementation. The G20 should support current initiatives
to rationalize the global system for reporting sustainability-related information and it should ask authorities involved in these efforts to develop a harmonized global framework. In parallel, the G20 should encourage national governments to design mechanisms to support the transition of key economic sectors
toward sustainable models as well as a proportional implementation of ESG requirements by SMEs andunlisted firms.
Policy Action 1.3: The G20 should help to create the conditions to improve financial education and accessto financial services, including insurance, to currently “unbanked” and “uninsured” individuals and facilitate the financing of micro businesses by supporting the introduction of new technologies, digital innovations and an enhanced use of data in the financial sector, thus promoting financial inclusion.

Recommendation 2: Infrastructure Financing
Enhance infrastructure financing by incentivizing investments in sustainable infrastructure projects, implementing infrastructure as an asset class, supporting cross-border planning & investing, and by fostering projects of urban and suburban regeneration.
Policy Action 2.1: The G20 should help create ad-hoc and market-ready financial instruments to facilitate Public Private Partnerships (PPPs) for co-investments by institutional investors in sustainable infrastructure, while
governments should promote “Smart Infrastructures” brought by technology to improve environmental andeconomic sustainability and enable new services such as remote healthcare and smart mobility.
Policy action 2.2: The G20 should help implement sustainable infrastructure as an asset class and standardize its taxonomy, while regulators and policymakers should review the regulatory treatment of infrastructure finance to incentivize sustainable infrastructure investing and its long-term financing.
Policy action 2.3: The G20 should ask for the establishment of frameworks and platforms to facilitate international planning and joint cost-benefit analysis to foster cross-border investments in large-scale infrastructure, while governments could facilitate the rollout of recovery measures to support and accelerate
infrastructure projects, which are crucial for a more robust economic recovery after the Covid-19 pandemic.
Policy action 2.4: Governments and MDBs should create investment-ready projects to facilitate participation of private institutional investors in urban and suburban regeneration investments, focused in particular on increasing infrastructure resilience and improving access to affordable healthcare and transport,
while policymakers could improve regulations and request impact reporting related to investments inthese projects to accelerate the achievement of environmental and social priorities.

33

POLICY RECOMMENDATIONS AND ACTIONS
Recommendation 3: Growth Engines
Support sustainable economic growth by fostering SMEs access to capital, promoting open innovation
ecosystems with customer data subject to common protections across sectors, accelerating digitalizationand innovation processes in the financial sector, and by increasing the efficiency of Global Value Chains(GVCs) and, on a more regional level, of Integrated Value Chains.
Policy Action 3.1: The G20 should promote the development of frameworks and policies to facilitate access by SMEs to debt and equity markets in order to decrease their leverage and re-balance their funding
sources, and the creation of specific growth funds to sustain SMEs that may have exhausted their debt
capacity during the pandemic crisis, while policymakers could implement programs aimed at mobilizing
private savings, also through institutional investors, to support the real economy.
Policy Action 3.2: Governments should promote Open Innovation and the creation of ad-hoc ecosystems
with customer data subject to common protections across sectors, also leveraging the role of early stage
investors (e.g. Angel Investors, Venture Capital, etc.) to foster the creation of start-ups and to support their
growth, while enhancing efficient innovation inside companies.
Policy Action 3.3: Policymakers should address barriers to the acceleration of the role played by technology and artificial intelligence in the financial sector in order to sustain its development, ensure that data
are accessible to all involved players and foster a level playing field across actors with due regard to dataprotection standards, while governments should promote partnerships between financial institutions andtech companies to ensure the creation of innovative solutions especially in the cross-border payment sector.
Policy Action 3.4: The G20 should work on the development of comprehensive frameworks to strengthen Integrated and Global Value Chains, taking into account “deglobalization” trends due to the Covid-19
pandemic, to improve their resilience, flexibility and sustainability, while governments could support thedigitalization and the use of data in supply chains to increase efficiency and reduce bureaucracy.

Recommendation 4: Global Regulatory Environment
Review the financial sector regulatory framework to ensure that it can support economic resilienceduring, and recovery after, the Covid-19 crisis by addressing climate-change, systemic and pandemic risks,
improving prudential measures and NPL regulations, and by constructively reviewing non-bank financial
sector’s regulation.
Policy Action 4.1: The G20 should promote an appropriate policy environment to foster innovative solutions, also promoting the cooperation between Public and Private sectors in order to support the parties
affected by catastrophic events and reduce the economic burden of responses to catastrophes on publicbudgets.
Policy Action 4.2: Policymakers should continue a review of the existing prudential regulatory frameworkin the context of the experience through the Covid-19 pandemic, to assess to what extent it may affect theability of financial services, including insurance, to support economic recovery and to reduce the risk ofprocyclical effects, while the FSB should continue working to reduce the fragmentation of financial regulations to support financial stability and economic growth and allow a consistent level of flexibility acrossfinancial markets.
Policy Action 4.3: The G20 should encourage banking regulatory authorities to review, in light of theCovid-19 crisis, the effectiveness of existing NPL regulations to reduce the risk of forced classification as
NPLs of loans to viable businesses, temporarily under stress due to the pandemic. The G20 could also callfor a higher standardization of these rules and for improved framework / processes to manage unlikely-to-pay credits to maximize the chances of recovery / return to a Performing status.
Policy Action 4.4: The G20 should encourage policymakers to consider policy measures to continue enhancing the resilience of the NBFI sector, building on the work of the Financial Stability Board (FSB).
This should be done under a holistic approach that identifies and addresses potential risks using an activities-based approach, while preserving and stimulating the contribution of all market participants torecovery, transition and innovation.
34

WHY HEALTH & LIFE SCIENCES MATTER
Health is a fundamental human right and is essential for a sustainable economic and social development.
The pandemic has brought to light the need to strengthen our pandemic preparedness and newfoundcapacities to spur a burst of life sciences creativity in developing therapies in a short period of time.
New technologies and the Bio-Revolution are changing the way we treat our wellbeing and have thepotential to do even more in the future, paving the way for new methods and advanced treatments todiseases which will affect a significant portion of the population.
Framing health as an investment does not imply more money into the system, but rather better targetedand efficient spending to improve patient outcomes, in a long-term vision of resilient and sustainable
Healthcare Systems.

NEW TYPES OF COLLABORATIONAND CLINICAL TRIALS RESHAPING R&D

GLOBAL DIGITAL HEALTH MARKET ($B)

2019

COVID-19 VACCINE DEVELOPMENT

2027E

THE BIO-REVOLUTION IMPACT$2T–$4T
AVERAGE TIME FOR NEW DRUG
DEVELOPMENT AND REVIEW PRIOR COVID-19

ANNUAL DIRECT ECONOMIC
POTENTIAL GLOBALLY IN 2030–40

THREE POLICY RECOMMENDATIONS TO THE G20

PROMOTE THE STRATEGIC USE OF SCIENCE,TECHNOLOGY AND DATA
Promote the strategic use of new technologies, also through regulatory frameworks
development, strengthen scientific researchand innovation environment, support the
Bio-Revolution.

ASSESS AND MEASURE HEALTH AS AN INVESTMENT AND FOSTER THE TRANSITION TO VALUEBASED HEALTHCARE
Consider health not as a cost but as an investment, through new organizational models andintegrated care pathways, in a holistic and value-based way focused on measurable patient
outcomes.

BUILD RESILIENT AND SUSTAINABLE HEALTHCARE SYSTEMS
Develop resilient, sustainable and multilateral
health systems and supply chains, strengthen
crisis preparedness, response and drive environmentally sustainable health systems.
35

MONITORING KPIs TO TRACK FUTURE PROGRESSFor further details on KPIs, please refer to the full Policy Paper

Availability of New Drugs (NAS/NMEs/NTBs)
Approved by EMA/FDA
39 (EMA); 53 (FDA)+10% increasevs. 2020 Baseline

Expenditure on Preventive Care
as % of Total Healthcare Expenditure
1.5%-4%

Health Data Sharing Intensity
40-90%

Average of 13 International HealthRegulations (IHR) Core Capacity Scores

2%-6%

60%-88%Actuals 2024 Targets

TASK FORCE LEADERSHIPChair
TF Manager

36

Sergio Dompé - Dompé Farmaceutici
Luca Del Vecchio - Confindustria

Co-ChairWerner Baumann - Bayer

Co-ChairMark Caulfield - Barts Life Sciences

Co-Chair

Geoff Martha - Medtronic

Co-ChairLeon Wang - AstraZeneca

50-100%75%-100%

POLICY RECOMMENDATIONS AND ACTIONS
Recommendation 1: Promote the strategic use of science, technology and data
Policy Action 1.1: Design policy frameworks that accelerate ecosystems for digital health adopting an investment mindset towards health, strengthening the use of technology, considering the overall impact ofhealth policies and monitoring these plans through a set of specific KPIs.
Policy Action 1.2: Commit to accelerate pro-innovation regulation and generate LS and MedTech innovation ecosystems, considering carefully designed incentives, securing proper IPRs, promoting partnerships, convergence in regulatory requirements, focusing on workforce lifelong education.
Policy Action 1.3: Remove existing national legal framework hurdles and set clear guidance on data sharing to improve diagnosis, treatment, care coordination, etc. in health ecosystems and between Health
Systems, in compliance with privacy and security legislation; promote the harmonization and standardization of health data to ensure systems interoperability.
Recommendation 2: Assess and measure Health as an investment and foster the transition to
Value-Based Health (VBH)
Policy Action 2.1: Foster the transition to VBH by defining, implementing, monitoring and rewarding quality of care standards and patient care pathways, through metrics which consider a broader societal perspective, adopting VBH contracts, promoting the digitization of health data and facilitating sharing.
Policy Action 2.2: Promote the development of multidisciplinary approaches to care, guaranteeing bettercare integration and coordination in order to extend access to care, improve care pathways effectivenessand experience, increasing the efficiency of Health Systems.
Policy Action 2.3: Focus on greater prevention, early screenings, timely diagnosis, larger immunization
campaigns and the promotion of wellness initiatives, etc. through new technologies that contribute toimproving patient outcomes and the sustainability of Health Systems.
Recommendation 3: Build resilient and sustainable Health Systems
Policy Action 3.1: Promote new partnerships to foster collective learning and responses to health challenges, ensuring academia and the public and private sectors all contribute to their resolution to improve theresilience and sustainability of Health Systems.
Policy Action 3.2: Support global collaboration on the creation of international benchmarks for crisis preparedness, definition of emergency protocols to reduce the development and go-to-market time fortreatments, adoption of early warning systems, surveillance mechanisms, etc.
Policy Action 3.3: Collaborate with industry and develop a multilateral policy framework to strengthen theoverall resilience of strategic supply chains.
Policy Action 3.4: Adopt a broader perspective while defining national health-related policies considering
the nexus of population health and wellbeing, sustainable development, environmental conservation, climate change, disaster risk reduction, targeting better socio-economic conditions.

37

WHY ENERGY & RESOURCE EFFICIENCY MATTER
Current global energy and resource consumption rates are unsustainable
and are causing a steep increase of greenhouse gases in the atmosphere andthe depletion of natural ecosystems. Since the majority of global emissions areenergy-related, it is necessary to act quickly to drive a green and just transition in the energy system towards a sustainable and carbon neutral energy
mix and an efficient use of energy. G20 countries have the responsibility ofleading the world towards a better and brighter future and possess the capabilities to be the driving force of positive change in the global society andeconomy. Together with the innovative capabilities of the business community, G20 countries can reignite growth and nurture a renewed prosperity while
fostering sustainability, preserving the environment, ensuring resiliency andsupporting the most vulnerable communities. To this end, the B20 ERE Task
Force identified four Policy Recommendations to drive actionable change.

EXPECTED GLOBALWARMINGby 21001

EXPECTED GDP LOSSDUE TO GLOBAL WARMING
by 21002

FOUR POLICY RECOMMENDATIONS TO THE G20

Accelerate the transition of the energy system
towards a sustainable and carbon neutral energy mix and an efficient use of energy, in order
to meet the carbon-neutral goal of the Paris
Agreement and targets set out in the National
Determined Contributions.

Provide effective policy pathways to foster sustainable growth and secure the energy transition.

Ensure resilience and inclusivity of global resource
supplies.

Commit to preserve the equilibrium of the natural ecosystem, promoting a more sustainable
use of natural resources.

MONITORING KPIs TO TRACK THE IMPLEMENTATION
For further details on KPIs, please refer to the full Policy Paper
Global energy-related CO2 emissions(Gt CO2)3

Global energy intensity CAAGR3

2020

2020

2030

33.9

21.1

Global % of renewables
in total energy supply3
2020

-4.2%

Global % of CO2 emissions covered bypricing mechanisms4

2030

12%

2030

-1.6%

2020

30%

2030

22%

48%
100%

Global % of popilation with access to safely
managed drinking water services5

Global % of population with accessto electricity5

2017

2019

2030

71%

100%

2030

90%

Sources: 1. Climate Action Tracker – current policy scenario, 2021; 2. Bloomberg – current policy scenario, 2020;
3. Climate Transparency, 2020; 4. UN – global average, 2020; 5. IEA, 2020;
38

100%

Global % of recycled natural resources
employed in the economy6
2020

2032

8,6%

17%

G20 IMPACT OF SUSTAINABLE ENERGY TRANSITION
CO2 emission development by scenario (GtCO2e)7
Alternative Scenarios
Business as Usual
Current Policy Projections
Pledges and Targets
Paris Agreement
2°C consistent
Paris Agreement
1.5°C consistent

GLOBAL 2050 RESULTS8

15%

UP TO
Additional Jobs in the energy
sector; Paris Agreement
Consistent vs. 2019
policies and pledges

2.4%

UP TO
Additional GDP;
Paris Agreement
Consistent vs. 2019
policies and pledges

13.5%

UP TO
Additional Personal Welfare;Paris Agreement
Consistent vs. 2019
policies and pledges

TASK FORCE LEADERSHIPChair
TF Manager

Francesco Starace - Enel Group
Massimo Beccarello - Confindustria

Co-Chair

Sergio Affronti - YPF

Co-Chair

Xin Baoan - State Grid Corporation of China

Co-Chair

Patricia Collawn - PNM Resources

Co-ChairHerbert Diess - Volkswagen Group

Co-ChairGurdeep Singh - NTPC Limited

Co-ChairJean-Pascal Tricoire - Schneider Electric

Sources: 5. IEA, 2020; 6. World Bank, 2021; 7. Climate Action Tracker, 2020; 8. IRENA, 2020.
39

POLICY RECOMMENDATIONS AND ACTIONS
Recommendation 1: Accelerate the transition of the energy system towards a sustainable and carbon
neutral energy mix and an efficient use of energy, in order to meet the carbon-neutral goal of the Paris
Agreement and targets set out in the National Determined Contributions
Policy Action 1.1: Shift energy end-uses towards clean energy - G20 members should promote and accelerate the shift in the energy end-uses, driving the substitution of fossil fuels with Decarbonized Electricity
and other carbon neutral energy sources and carriers based on a cost effectiveness approach that will
include indirect or direct costs of externalities as well.
Policy Action 1.2: Increase efficiency - G20 countries should sustain the increase of energy and resources
use efficiency, substantially reducing energy intensity of domestic GDP while supporting its growth, withdedicated actions towards industrial and consumers sectors, building, transport and cities.
Policy Action 1.3: Develop infrastructures - The G20 should promote the development and modernizationof infrastructures to sustain the transition towards a carbon neutral energy mix.
Recommendation 2: Provide effective policy pathways to foster sustainable growth and secure theenergy transition
Policy Action 2.1: Leverage sustainable finance - The G20 should encourage and drive the adoption ofcommon ESG frameworks and disclosures to foster the financial sector’s role in supporting business transition towards long-term sustainable economic activities and value creation for stakeholders.
Policy Action 2.2: Drive carbon pricing - The G20 should drive effective and robust carbon pricing taking into account the local markets peculiarities and promote strategic dialogue to lay the foundation for
global mechanisms to valorize environmental externalities, while quickly phasing out direct or indirect
inefficient energy subsidies.
Recommendation 3: Ensure resilience and inclusivity of global resource supplies
Policy Action 3.1: Foster supply chain resiliency - G20 members should improve the resilience of global infrastructures to cope with adverse climate events, cybercrime, and other disruptive events.
Policy Action 3.2: Commit to a just transition - The G20 should commit to a just and inclusive transition
across countries, vulnerable communities and economy sectors.
Policy Action 3.3: Guarantee resources access and security - The G20 should commit to grant affordable
and secure access to clean energy and water to all communities.
Recommendation 4: Commit to preserve the equilibrium of the natural ecosystem, promoting a moresustainable use of natural resources
Policy Action 4.1: Exploit circularity practices to reduce the environmental impact of economies - The G20
should promote the diffusion of circular economy practices to use global resources more sustainably, increasing international collaboration.
Policy Action 4.2: Enhance sustainable use of marine and terrestrial resources - G20 members shouldcommit to the preservation and restoration of the natural ecosystems, safeguarding life on land and below water.

40

WHY INTEGRITY & COMPLIANCE MATTERThe COVID-19 pandemic has turned into an acceleration of the emergence of global risks, penalizing our
economies, social unrest, climate changes, and social inequality. In fact, nowadays, the concepts of integrity and compliance are taking on a broader scope, which in a historical moment marked also by the
emergence of new global risks, is linked to the idea of sustainable business. The document poses particular attention on two key themes:- the fight against illicit behaviour and malpractices to improve integrity in public administration, by increasing transparency and efficiency, especially in sensitive areas, such as public tenders and the management of financial flows, by also leveraging the use of digital technologies, as well as cooperation initiatives;- the promotion of sustainable governance in business which builds on a commitment to legality andthe fight against corruption, thus enabling them to reshape processes to incorporate ESG objectives into
corporate compliance.

FOUR POLICY RECOMMENDATIONS TO THE G20RESPONSIBLE CONDUCT THROUGT THE PROCUREMENT CYCLE
Promote efficiency in public decision-making
processes, while strengthening "administrative
capacity".

SUSTAINABLE GOVERNANCE IN BUSINESS
Ensure that corporate governance contributes tothe achievement of sustainability objectives.

COOPERATIVE COMPLIANCE MODELS AND
REWARDING SYSTEMS
Strengthen the link between the effectiveness ofcooperation while disseminating centrality of rewarding mechanisms.

BENEFICIAL OWNERSHIP TRANSPARENCY
Standardization of rules adopted at global level aimed at strengthening beneficial ownershipregulations.

41

MONITORING KPIs TO TRACK THE IMPLEMENTATION
For further details on KPIs, please refer to the full Policy Paper

Countries with National Laws
Protecting Whistle-blowers% Global Corruption
46%

40%

32

Countries committed to Beneficial
Ownership Transparency% of Business extent of disclosure
6%

6,43%

43

Governance Score
6,4

7,1

Actuals
2024 Targets

Source: GRP, World Bank, SGI, Environmental Law Institute, Open Ownership

TASK FORCE LEADERSHIPChair
TF Manager

42

54

Patrizia Grieco - Monte dei Paschi di Siena
Antonio Matonti - Confindustria

Co-ChairKatja Bechtel - World Economic Forum

Co-ChairMichele Crisostomo - Enel

Co-Chair

María Fernanda Garza Merodio - Orestia

Co-Chair

Klaus Moosmayer - Novartis

Co-ChairNiansha Xu - China Poly Group Corporation

83

POLICY RECOMMENDATIONS AND ACTIONS
Recommendation 1: Responsible conduct through the Procurement Cycle
Policy Action 1.1: The efficiency within public procurement systems contributes to lowering the risk ofbribes made to expedite the performance of public officials of a non-discretionary nature.
Policy Action 1.2: Digitizing administrative processes to reduce manual intervention improves the efficacy
of audit, compliance monitoring and control activities in detecting irregularities.
Policy Action 1.3: Adopting high-quality standards of integrity and compliance programs by enabling
timely access to public information and enhancing enforcement and supervisory authorities and designing and implementing effective systems to facilitate reporting of potential corruption concerns, facilitates
SMEs participation.
Recommendation 2: Sustainable governance in business
Policy Action 2.1: Promoting good and transparent corporate governance systems, to be defined by companies internally, which clearly articulate the roles, responsibilities and accountabilities of the governing
body, management and internal audit, may attract investors that nurture interest in positive impact investing.
Policy Action 2.2: Fostering the adoption of supportive measures such as non-financial reporting, withuniform requirements across jurisdictions, to ease the assessment and mitigation of ESG issues.
Policy Action 2.3: Promoting and fostering the contribution to sustainable development by offering training and guidance on Responsible Business Conduct (RBC), while considering the appointment of an Integrity & Compliance Officer also functioning as a positive example to be emulated across the entire
supply chain. Consideration should be given to design measures which are also easily adaptable by SMEs
capacities.
Recommendation 3: Cooperative compliance models and rewarding systems
Policy Action 3.1: Reinforcing the concept of reward through promoting the adoption of rules, effective
measures and inclusive cooperation to improve the exchange and availability of information among
stakeholders from the private-public worlds who aim to increase compliance and good conduct.
Policy Action 3.2: Implementing due diligence policies within hiring companies and their supply chain
when selecting, monitoring, reviewing and auditing contractors, and managing associated risk profiles,
supports SMEs in the due diligence of their commercial partners.
Policy Action 3.3: Improving compliance within the private and public sector, reinforcing and rebuilding
trust in public and private institutions, through, for example, the adoption of effective and efficient whistle-blower reporting and protection systems supported by innovative communications technology.
Recommendation 4: Beneficial ownership Transparency
Policy Action 4.1: Fostering the adoption of innovative digital technologies allows information on beneficial ownership to be accessed and shared reliably.
Policy Action 4.2: Increasing transparency around BO information, improving third-party risk manage­
ment and ensuring the accuracy of data stored in digital national public registers is key.
Policy Action 4.3: Consistently promoting the sharing of up-to-date information regarding legal arrangements, preventing the misuse of bearer shares and nominee shareholders or directors, while fostering
companies’ support with creating fairness through a set of common rules and standards levels the playing field.

43

WHY SUSTAINABILITY & GLOBAL EMERGENCIES MATTERThe COVID-19 pandemic has served as an unprecedented wake-up call, highlighting the fragility of oursystems and the urgent need for effective, coordinated and cooperative global action to drive sustainable
development and respond to contemporary global challenges.
Adopting sustainable solutions is key to reducing global crises, which in turn can exacerbate social issues;moreover, managing crises in a sustainable way reduces the risk of their recurrence.

$ TRILLION OF ENVIRONMENTAL
ACCIDENTS DAMAGES IN 2002-2019$ TRILLION ESTIMATEDOVERALL COSTS DUE TO COVID-19$ TRILLION OF CYBERCRIMEDAMAGES EXPECTED FOR 2021

Oxford University; McKinsey, 2020

World Economic Forum

Cybersecurity Ventures, 2020

THREE POLICY RECOMMENDATIONS TO THE G20ENVIRONMENTAL DISASTERS
Commit to and set clear pathways to a sustainable
and just transition and establish a global mechanism to prevent, manage and foster sustainable
recovery from environmental disasters.

INFECTIOUS DISEASES
Enhance resilience and management against
infectious disease outbreaks.

CYBER INCIDENTS
Reinforce critical information infrastructureand data security against major cyber incidents.

MONITORING KPIs TO TRACK THE IMPLEMENTATION

For further details on KPIs, please refer to the full Policy Paper

ENVIRONMENTAL PERFORMANCE INDEXMedian (0-100 scale)

GLOBAL HEALTH SECURITY INDEXMedian (0-100 scale)

Baseline (Year)

GLOBAL CYBERSECURITY INDEXMedian (0-1 scale)2030 Targets

Note: Monitoring KPIs are based on methodologies
that are subject to potential revision over time
Sources: Oxford University, McKinsey & Company; WEF; Cybersecurity Ventures; Yale Center for Environmental Law and Policy (Yale
University) and Center for International Earth Science Information Network (Columbia University); Nuclear Threat Initiative and theJohns Hopkins University Center for Health Security, with The Economist Intelligence Unit; International Telecommunication Union.
44

ACTION COUNCIL LEADERSHIPChair
TF Manager

Claudio Descalzi - Eni
Francesca Mazzolari - Confindustria

Co-ChairDina Hasan Al Nahdy - ENTEC

Co-ChairJean-Pierre Clamadieu - ENGIE

Co-ChairWendy Mars - Cisco

Co-ChairPaulo Nigro - GranBio

Co-ChairDilip S. Shanghvi - Sun Pharmaceuticals

Co-ChairJian Wang - BGI Group

Co-ChairBill Winters - Standard Chartered

POLICY RECOMMENDATIONS AND ACTIONS
Recommendation 1: Commit to and set clear pathways to a sustainable and just transition and establish
a global mechanism to prevent, manage and foster sustainable recovery from environmental disasters
Policy Action 1.1: Commit to and set clear pathways to a sustainable and just transition
Policy Action 1.2: Promote the consistency of environmental sustainability reporting standards and reinforce global governance to enhance technological innovation
Policy Action 1.3: Enhance emergency recovery and financing schemes
Recommendation 2: Enhance resilience and management against future infectious disease outbreaks
Policy Action 2.1: Build future pandemic preparedness
Policy Action 2.2: Promote global cooperation and value chain resilience during outbreaks
Policy Action 2.3: Scale up diagnostics, therapeutics and vaccine development and rollout, and adopt economic measures to speed a sustainable and inclusive recovery
Recommendation 3: Reinforce critical information infrastructure and data security against major
cyber incidents
Policy Action 3.1: Improve global coordination to strengthen cybersecurity
Policy Action 3.2: Facilitate data- and intelligence-sharing during major cyber incidents
Policy Action 3.3: Implement post-breakdown recovery plans

45

WHY WOMEN EMPOWERMENT MATTER
In 2019, women were over a third less likely to be in the labor force than men. Women’s opportunities
have been held down by the burden of unpaid work, discrimination, stereotypes and outdated laws andsocio-cultural norms.
The pandemic has exacerbated existing gender inequalities, from the burden of home schooling to low
resilience of women’s skills and the vulnerability of job roles.
The B20 special initiative on Women’s Empowerment commits to identify actionable recommendations
to reverse the disproportionate impact of Covid-19 on women and unlock new income generation opportunities starting from skills.

GENDER GAPS IN LABOR FORCE PARTICIPATION(Source: 1. World Bank, 2019 - 2.OECD, 2019)
74%
47%
25%
10%
Part-time
empoyment rate2

Labor force
participation rate1

FEMALE SHARE OF EMPLOYMENT IN MANAGERIAL POSITIONS(Source: ILOSTAT, accessed on April 2021)

27.9
21.6

World

34.9

31.7

19.4

Lower-middle
incomeHighincomeWOMEN AS A SHARE OF TOTAL RESEARCHERS(Source: UNESCO Institute for Statistics, 2019)

48.2%

Central Asia
Latin America
and the Caribbean

45.1%

Arab States

41.5%

Central and Eastern
Europe

39.3%
32.7%

North America
and Western Europe

31.8%

Sub-Saharian Africa

29.3%

World
East Asiaand the PacificSouth and West Asia
46

23.9%
18.5%

THREE POLICY RECOMMENDATIONS TO THE G20

INCLUDE
Bring more women back into the workforce andinto the heart of economic activity shaping thefuture.

REIMAGINE
Build an inclusive society and workplace cultures
which dismantle pervasive gender stereotypes.

GROW
Smooth the road for women into business leadership and ownership.

MONITORING KPIs TO TRACK THE IMPLEMENTATION
For further details on KPIs, please refer to the full Policy Paper% Unpaid Work Done by Women

Share of Women in the Labor Force
52.5%-76.4%

66.5%-81.1%

59.5%-76.7%

56.3%-67.6%% Female in Senior or Middle
Management Roles
23.5%-40.6%

34.1%-43.5%

Actuals
2024 Targets

SPECIAL INITIATIVE LEADERSHIP
Ambassador
SherpaManager

Diana Bracco - Bracco
Gaela Bernini - Fondazione Bracco
Stefania Rossi - Confindustria

47

POLICY RECOMMENDATIONS AND ACTIONS
Recommendation 1: Include: Bring more women back into the workforce and into the heart of economic
activity shaping the future
Policy Action 1.1: Mitigate the negative impact of the pandemic on women's economic opportunities – Design gender-responsive measures to ensure that progress made over recent decades towards equality is
not lost – but is strengthened in the post-pandemic world
Policy Action 1.2: Strengthen the pipeline of women into STEM and other high-growth sectors – Cultivate
early interest in Science, Technology, Engineering and Maths (STEM) and build women’s aspirations andskills to increase participation in the most in-demand job roles
Policy Action 1.3: Embed a gender lens at the core of innovative activity – Increase gender equity in research & development (R&D) and develop gender-sensitive ethical guidelines in key areas such as healthand advanced technologies
Recommendation 2: Reimagine: Build an inclusive society and workplace cultures which dismantle
pervasive gender stereotypes
Policy Action 2.1: Eliminate barriers to the equal participation of women in the economy – Identify current
gender gaps and address the associated social and cultural norms that limit women’s opportunities, including unpaid work, occupational segregation and stereotypes
Policy Action 2.2: Build the relevance and resilience of women’s skills – Promote gender equity acrossbusiness departments and functions and provide women in roles at higher risk of disruption with specificreskilling and training.
Policy Action 2.3: Eradicate sexual discrimination, harassment, and gender-based violence - Work to eliminate discrimination, harassment, and violence in society through targeted education programs and develop support mechanisms to aid reporting of unethical behaviour in the workplace
Recommendation 3: Grow: Smooth the road for women into business leadership and ownership
Policy Action 3.1: Target gender parity in senior decision-making positions – Advocate for and eliminate
barriers to women reaching senior decision-making positions, with a focus on comprehensive collectionof sex-disaggregated data
Policy Action 3.2: Enhance the entrepreneurial potential of women – Build the aspirations and capacityof female entrepreneurs and actively support the starting, financing, scaling, and sustainability of women-owned businesses

48

STATEMENT FROMTHE B20 INTERNATIONALADVOCACY CAUCUS

49

INTERNATIONAL ADVOCACY CAUCUS
The B20 International Advocacy Caucus (IAC) supports the B20 leadership in streamlining the key messages for the G20. While the Task Force Policy Recommendations cover a wide range of topics, the IAC
members focused on two global challenges, namely empowering women and accelerating climate action.
The IAC, co-chaired by Emma Marcegaglia, B20 Italy Chair and CEO of Marcegaglia Holding, and John Elkann, President and CEO of Exor N.V., met three times over the past months, hosting prominent businessand institutional leaders. Building on the outcomes of the B20 work and on the inputs offered by external
keynote speakers, the IAC members provided the B20 process with valuable insights.
This statement consolidates the key messages of the B20 International Advocacy Caucus.

TURNING THE CRISIS INTO AN OPPORTUNITY
The pandemic crisis has disrupted the foundations of our lives, leading to rising global poverty for the firsttime in the last two decades, and making disparities across individuals and countries more acute as businesses strive to remain in the marketplace.
Accelerated clinical trials and medical approvals of COVID-19 vaccines represented an extraordinary
achievement, made possible by unprecedented collaboration of governments, international agencies,
pharmaceutical companies, and research institutes all over the world.
At the time this statement is written, most advanced countries are running effective vaccination campaigns leading to a step-change in the relaunch of their economies and contributing to putting global
growth back on track. But despite the call of the international community, the distribution of vaccines remains uneven, and the emergence of new variants of the virus puts the return to global prosperity underserious threat.
When the pandemic will be finally behind us, people and companies will need to refocus on a new reality
and face a mix of longstanding and newer vulnerabilities.
“First nation” approaches, economic nationalism, and protectionism continue to undermine international
cooperation and further slow international investments.
Cybersecurity risks constantly grow, along with their potential to disrupt an economic order increasingly
based on digital technologies. Environmental disasters rise in prominence, and biodiversity is being continually lost.
The most important lessons of modern times are the fragility of our planet and the diversity of our people.
No long-lasting growth can be achieved without inclusion and sustainability driving our actions.
International cooperation and coordination are finally being perceived as the only means to address common challenges and brighter economic prospects are now clearly achievable. Prominent multilateral forums like the G20 have finally regained legitimacy and credibility, and they must now more than ever
respond timely, soundly, and effectively.

50

IAC PRIORITIES TO RESHAPE THE FUTURE BY INCLUDING,SHARING AND ACTING
Against the current conjuncture, renewed commitments and enhanced cooperation are urgently needed from both the public and private sectors, across countries and industries. Along with national efforts,
consistent policy direction and supra-national programs will be crucial to power an inclusive and widely
shared recovery, securing a sound socioeconomic relaunch for all.
The IAC, in line with the B20 Italy at large, aims to reshape the future by including people, communities,
and businesses at all levels to share the benefits of open and sustainable economies supported by regenerated international action and upgraded institutions. In this context, empowering women and accelerating climate action are urgent global challenges.
Mitigating the impact of the ongoing crisis and ensuring equal oppor­tunities for all, especially women, isan utmost priority. Education is more important than ever for the development of a robust labor market,
as it is the route to enhanced employability and a key enabler of better living standards. Access to school
systems needs to be ensured equally and fairly to all, including young girls. Exploring new frontiers of inclusion while ensuring gender balance across societies and companies through effective policies gui­dedby a stronger multilateral leadership and enhanced collaboration among governments will prove essential. Elevating women to the cen­ter of economies will fundamentally drive better development outco­mes
for all. Indeed, building gender-inclusive workplaces would unlock growth, heighten resilience, and improve socioeconomic progress.
Achieving a “just transition” to a carbon-neutral economy requires a truly inclusive process. All technological options must be considered within a framework where energy end-uses shift to clean energy, andcircular economy practices are powerfully encouraged. Addressing climate is paramount to protecting future generations. Aligned and firm commitments are required to halt the exploitation of natural resources, enforce the decarbonization of the global economy, and meet the objectives of the Paris Agreement.

1. EMPOWER WOMEN AND ENSURE EQUAL OPPORTUNITIESFOR ALL
A committed partnership across businesses, governments, and international institutions is essential toempower and protect the most important asset they have - their people. G20 countries should collaborateclosely to map current socioeconomic disparities and address the practices preventing individuals fromfully participating in the society without having to deal with biases and prejudices, while reducing existing
barriers unfairly limiting them from advancing in business.
From ensuring women’s economic empowerment to protecting human rights around the globe and supporting the most fragile members of society, the G20 should set an example, showing true leadership inconceiving a global recovery that delivers education and job opportunities as well as inclusive growth for all.
G20 countries should promote open, dynamic, and inclusive labor markets by removing structural and legal
barriers, encouraging diverse forms of work and female employment, and bringing labor migration policies
in line with labor market needs. Policy frameworks must ensure that female entrepreneurship and female
labor market participation are improved. In addition, the G20 should harness the potential of technologicalchange through better education and training, entrepreneurship, and innovation frameworks.
They should urgently invest in skills development by identifying, jointly with the business community, theskills needed by each market while establishing, in cooperation with social partners, vocational training
programs that instruct female workers in skills to make them competitive in the new economy.
Supporting women’s and girls’ interest in STEM (Science, Technology, Engineering, and Mathematics)
will also be essential to mitigate the existing structural gender gap in education, especially in the poorest
and remote rural areas of the world. In parallel, G20 countries should identify pathways for women to fully
release their potential in the labour market, including with regards to remuneration, and eliminate disparities based on gender.

51

The IAC, in line with the perspective of the B20, calls on the G20 to support the achievement of ten priority
objectives:
Reverse COVID-19 impact on women bringing them into secure employment by eliminating discriminatory practices
and removing cultural barriers
2

Provide concrete tools and incentives to increase women’s
employability and the quality of the jobs they are offered3

Increase the number of women in business leadership andentrepreneurship, inter alia by encouraging “female quota”
provisions, also on a temporary basis, as they have proven effective

4

Forge partnerships across sectors to meet women’s future
workforce and skills needs

5

Actively support female-led businesses with financing, scaling, and sustainability programs, and ensure gender-sensitive
guidelines within all labour policies

6

7

8

9

10

Cultivate women’s interest in STEM, realizing aspirations andbuilding skills to increase their participation in society andbusiness
Promote gender pay equity in both the public and private
sectors and build workplace cultures that dismantle genderstereotypes by joining forces across governments, businesses,
and civil societies
Boost the achievement of a better balance between working
and family life, leveraging tools such as “parental leave” formen and boosting public services for early childhood support
Acknowledge and formally recognize women’s unpaid workand adopt public policies rebranding women’s “informal”
work as “formal,” emancipating women from the unsustainable conditions of operating in the “informal economy”
Promote the “S” (Social) of the “ESG” schemes as a parameter for mobilizing funds towards companies that adopt socialand gender equality values and policies

SDGs

3Ps

% of Gender Gap
in Labour Force
Participation RateMONITORING KPI

Baseline

26%

Target

19%

Year

2025
Owner

World
SourceInternational Energy Agency (IEA)
Net-Zero Emissions by 2050
Roadmap; 2021
Context

Many factors continue to hinder theparticipation of women in the labour
market and the quality of their employment. Overcoming these barriers is key
to achieving full gender equality in thelabour market and in our societies.
To reach this, objective policy measures
must be informed by insights basedon data and evidence true to the widearray of different national circumstances
as suggested in the 4 baselines identified
in the B20 SIWE's Policy Paper.

52

2. ACCELERATE THE NET ZERO RACE AND FIGHT CLIMATECHANGE
Climate change is not a future threat but a present crisis that requires unambiguous and immediate
action. However, countries’ current commitments are far from what is required to reach the targets of
the Paris Agreement. Societies and economies are exploiting energy and natural resources at an unsustainable rate: 1.75 times faster than the planet's ability to regenerate. Five years after adoption of the Paris
Agreement, updated projections indicate that countries are far from achieving the global warming target
limit of 1.5°C above pre-industrial levels by 2100. Revamping the net-zero net commitment requires hugefinancial resources, and to steer the transition, annual global energy investments will need to roughly
double before 2050. We endeavor to ensure these resources will be invested cost-effectively, aligning thenarrative of a green and sustainable recovery with the reality of expenditure plans.
Four challenges are now more pressing than ever and should be addressed immediately by governments
around the world. First, global warming should be tackled holistically, by each country, leveraging existingand new technologies including digital applications, to reach net-zero goals. Second, inequalities acrosscommunities should be narrowed, ensuring equitable and meaningful access to energy and natural resources. Third, nations should commit to the preservation and restoration of natural ecosystems, safeguarding life on land and in water, reducing global plastic pollution, halting loss of biodiversity, and limiting air quality degradation. Finally, barriers to circularity and recycled materials trade should be removed
to facilitate an extended lifecycle of products, and the reuse and remanufacture of goods.
G20 countries must contribute to building a greener, more efficient, and more resilient economy thatproperly addresses the urgent threat of climate change. Ensuring that public and private investments
prioritize climate-conscious objectives such as emissions reductions and environmental justice will beessential to securing a more sustainable and healthier future. The G20 should enact policies to mitigate
climate risk and put the world on a path to decisively decrease CO2 emissions by 2030 and reach net-zerotargets by 2050. Investing in the clean energy sector, as well as modernizing existing infrastructures, tosustain an equitable transition, decarbonizing industries, developing carbon-neutral sources, supporting
electrification, and strengthening the hydrogen market would also create new jobs.
G20 countries should also seek harmonized climate pricing instruments also considering national andsectoral conditions, since options such as trading systems and carbon taxes are already available.

53

The IAC, in line with the perspective of the B20, calls on the G20 to support the achievement of ten priority
objectives:
Secure, affordable, reliable and safe access to clean energy
and water for all communities, and prevent environmental
degradation, biodiversity depletion, and overexploitation of
resources2

Exploit the full potential of all technological options to support
decarbonization: from electrification to low carbon energy
sources and clean fuels

3

Implement sustainable infrastructure as an asset class, harmonize its taxonomies, review regulatory frameworks, andfoster green technologies development and deployment

4

Drive the replacement of fossil fuels in accordance with theParis Agreement

5

Support sustainable, resilient, inclusive, and environmentallyfriendly global value chains

6

7

8

Sustain the increase of energy and resource use-efficiency,
substantially reducing energy intensity of GDP while supporting its growth
Stimulate circular practices and facilitate repair, refurbishment, and remanufacturing of products while removing possible barriers to their trade
Leverage digital technologies and applications to enhance
end-to-end sustainability across economies, industries, businesses, and communities

9

Adopt standardization in ESG performance reporting and disclosure frameworks

10

Foster the role of the financial sector in supporting the transition towards sustainability, with policies and mechanisms
incentivizing green investment plans

SDGs

3Ps

Gigatons of Global
Energy-Related
CO2 Emissions
MONITORING KPI

Baseline

34 gt
Target

21 gt
Year

2030
Owner

World
SourceIEA (2021) - Net-Zero Emissions
by 2050 Roadmap
Context

The expected global warming by 2100
compared to pre-industrial levels isaround 2.9°C and, even if successfully
fulfilled, country pledges to date would
not be consistent with the Paris Agreement. To limit the global warming to 1.5°C
a strengthened international commitment is needed, while energy-related
greenhouse gas emissions should belowered to 21 Gton CO2 per annum.

54

APPENDIX

55

B20 OVERVIEWThe Business 20 (B20) is the official G20 dialogue forum with the global business community. For over ten
years, the B20 has been the most authoritative of the Engagement Groups established by the G20, representing a community of millions of businesses.
As the main engine of world economic development, its objective is to convey to the G20 presidency, and tothe main international and multilateral organizations and institutions, policy recommendations on a wide
range of global priority topics.

ABBREVIATIONS
3Ps
AI
B20
CO2
COVAX
DFIs
DFFT
ECAs
ESG
GDP
G20
IoT
KPIs
LDCs
MSMEs
M2M
R&D
SDGs
USD
WHO
WTO

3 G20 Priorities
Artificial Intelligence
Business 20
Carbon Dioxide
COVID-19 Vaccines Global Access
Development Finance Institutions
Data Free Flow With Trust
Export Credit Agencies
Environmental Social Governance
Gross Domestic ProductGovernment 20
Internet of Things
Key Performance Indicators
Least Development Countries
Micro, Small and Medium Enterprises
Machine-To-Machine
Research and Development
Sustainable Development Goals
United States Dollars
World Health Organization
World Trade Organization

SOURCESInternational Labour Organization (ILO)
United Nations (UN)United Nations International Children’s Emergency Fund (UNICEF)
United Nations Population Fund (UNFPA)
World Bank (WB)
World Economic Forum (WEF)
World Health Organization (WHO)World Trade Organization (WTO)
World Wildlife Found (WWF)56

B20 PROCESS AND ENGAGEMENTTF POLICY PAPERS

INTERACTIONS
1,000+ B20 Delegates and 2,000+ Participants
49 Co-Chairs across 9 Working Groups
21 Advisory Board Members
26 International Advocacy Caucus Members
600+ Interactions during WG Conference Calls
3,000+ Written Comments/Amendments
3.5Tn+ USD B20 Participants Turnover23 B20 Dialogues with G20 and Business Federations
26 B20 Side Events
5 G20 Ministerial Meetings and Forums
10,000+ Participants to Advocacy events
600+ Press Articles
5M+ Visits on B20 Website and Social Media Pages
39.000+ Followers on Social Media

B20 GOVERNANCE WITH 9 TASK FORCESAND 2 SUPPORTING GROUPS

BarbaraBeltrame,
Vice President
Confindustria

Maximo Ibarra,
CEOEngineering

Gianpietro
Benedetti,
President & CEO
Danieli Group

Carlo Messina,
Managing
Director & CEO
Intesa Sanpaolo

Sergio Dompé,
CEO Dompé
Farmaceutici

Francesco
Starace,
CEO & General
Manager Enel

Maria Patrizia
Grieco,Chair Monte dei
Paschi di Siena

Claudio Descalzi,
CEO EniDiana Bracco,
President & CEO
Bracco Group

B20 SUSTANAIBILITY

B20 is a sustainable event, ISO 20121 certified

57

GENDER DISTRIBUTION

NATIONALITY DISTRIBUTION

SECTORIAL DISTRIBUTION

58

B20 PARTNERSKNOWLEDGE PARTNERS

NETWORK PARTNERSSCIENTIFIC PARTNERS

B20 SPONSORS59

HIGH LEVEL REPRESENTATIVES THAT CONTRIBUTEDTO THE B20 ACTIVITIES, MEETINGS AND EVENTSB20 CHAIR, CONFINDUSTRIA LEADERSHIP,
B20 TASK FORCE CHAIRS AND MANAGERS

B20 ADVISORY BOARD
Nerio Alessandri, Founder Technogym

Emma Marcegaglia, Chair and Chief Executive Officer
of Marcegaglia Holding S.p.A and Chair, B20 Italy

Marco Alverà, CEO, Snam

Carlo Bonomi, President of Confindustria

Marco Bizzarri, CEO, Gucci

Francesca Mariotti, Director General of Confindustria

Alberto Bombassei, Founder & Chairman of Brembo S.p.A.
Sonia Bonfiglioli, Chairwoman of the Board of Directorsof Bonfiglioli Riduttori

Barbara Beltrame, Vice President of Confindustria,
B20 Task Force Trade & Investment
Gianpietro Benedetti, Chairman Danieli Group,
B20 Task Force Employment & Education

Silvia Candiani, CEO, Microsoft Italy
Enrico Cereda, Chairman, IBM Italy
Giuseppina Di Foggia, CEO & Vice President, Nokia Italia

Diana Bracco, Chairman and Chief Executive Officer
Bracco Group, B20 Task Force Women Empowerment,
and Member of the B20 Advisory Board

Stefano Antonio Donnarumma, CEO & General Manager,
Terna

Claudio Descalzi, CEO, Eni, B20 Action Council
on Sustainability & Global Emergencies

John Elkann, Chairman and CEO of EXOR N.V., Chairman ofFiat Chrysler Automobiles N.V. and Chairman of Ferrari N.V.

Sergio Dompé, President and CEO Dompé Farmaceutici,
B20 Task Force Health & Life Sciences

Luigi Ferraris, CEO FS Italiane

Maria Patrizia Grieco, Chair Monte dei Paschi di Siena,
B20 Task Force Integrity & Compliance
Maximo Ibarra, CEO Engineering,
B20 Task Force Digital Transformation
Carlo Messina, CEO Intesa Sanpaolo,
B20 Task Force Finance & Infrastructure
Francesco Starace, CEO and General Manager,
Enel Group, B20 Task Force Energy & Resource Efficiency

Gabriele Galateri Di Genola, Chair, Assicurazioni Generali
Carlo Giorgi, Managing Director, AWS Italy
Marco Hannappel, Chairman and CEO Philip Morris Italy
Sergio Marullo Di Condojanni, Vice Chairman and CEO,Angelini Holding
Andrea Orcel, Group CEO, Unicredit
Alessandro Profumo, CEO of Leonardo S.p.A.
Pietro Salini, CEO, Webuild

Massimo Beccarello, Task Force Manager,
B20 Task Force Energy & Resource Efficiency, Confindustria
Francesca Brunori, Task Force Manager,
B20 Task Force Finance & Infrastructure, Confindustria
Valentina Carlini, Task Force Manager,
B20 Task Force Digital Transformation, Confindustria
Luca Del Vecchio, Task Force Manager,
B20 Task Force Health & Life Sciences, Confindustria
Marco Felisati, B20 Sherpa and Task Force Manager,
B20 Task Force Trade & Investment, Confindustria
Antonio Matonti, Task Force Manager,
B20 Task Force Integrity & Compliance, Confindustria
Francesca Mazzolari, Task Force Manager,
B20 Action Council on Sustainability & Global
Emergencies, Confindustria
Stefania Rossi, Task Force Manager,
B20 Task Force Employment & Education and Special
Initiative on Women Empowerment, Confindustria

60

Dario Scannapieco, CEO Cassa Depositi e Prestiti
Marco Tronchetti Provera, CEO of Pirelli and Chairmanof Marco Tronchetti Provera & C. S.p.A
Ermenegildo Zegna, CEO of the Ermenegildo Zegna
GroupB20 INTERNATIONAL ADVOCACY CAUCUS

B20 TASK FORCE CO-CHAIRS

Yousef Al-Benyan, CEO & Vice Chairman, SABIC, and B20
KSA Chair

Amrote Abdella, Former Regional Director of Microsoft’s
4Afrika Initiative

Mukesh Ambani, Chairman and Managing Director, Reliance Industries

Timothy Adams, President & CEO, Institute of International FinanceJeffrey Preston Bezos, President and Chairman of theBoard, Amazon.com

Sergio Affronti, CEO & Board Member, YPF S.A.

Karan Bilimoria, Chairman, Cobra Beer, and President CBI– Confederation of English Industry
Mark Carney, COP26 Finance Advisor and UN Special Envoy

Ajay Banga, Chairman MasterCard and Chair of the International Chamber of Commerce
Werner Baumann, CEO Bayer

Suzanne Clark, President & CEO, U.S. Chamber of Commerce

Katja Bechtel, Lead, Partnering Against Corruption Initiative (PACI), World Economic Forum

Rogelio De los Santos, Co-founder and Managing Partner, Dalus Capital

Sujoy Bose, Managing Director and CEO, National Investment and Infrastructure Fund

Daniel Funes De Rioja, Founding Partner, Funes de Rioja& Asociados, and President UIA – Unìon Industrial Argentina

Dan Bryant, Senior Vice President for Global Public Policy
and Government Affairs, Walmart

Pierre Gattaz, Chairman, Radiall, and President, BusinessEurope

Hans-Paul Bürkner, Chairman of The Boston Consulting Group

Ilham Kadri, CEO, Solvay
Shinta Widjaja Kamdani, CEO, Sintesa Group
Simone Kaslowski, Vice Chairman, Organik Holding, andPresident TUSIAD – Turkish Industry & Business Association

Levent Çakiroğlu, CEO Koç Holding
Mark Caulfield, Chief Executive of Barts Life Sciences
Jean-Pierre Clamadieu, Chairman of the Board of Directors of Engie

Jean Liu, President, Didi Chuxing

Patricia Collawn, Chairman, President, and CEO PNMResources

Phuthi Mahanyele-Dabengwa, CEO, Naspers

Michele Crisostomo, Chair, Enel

Bernard Mensah, President of International, Bank ofAmerica and CEO, MLI

John Denton, Secretary General, International Chamberof Commerce

Vasant Narasimhan, CEO, Novartis

Herbert Diess, Chairman Board of Management, Volkswagen AG

Zeynep Bodur Okyay, President & CEO, Kale Group
Geoffroy Roux De Bézieux, President & Founder, Notus
Technologies, and President MEDEF – Mouvement desEntreprises de France
Siegfried Russwurm, Chairman Supervisory Board,
Thyssenkrupp AG, and President BDI – Bundesverband derDeutschen Industrie
Bettina Schaller Bossert, Head of Group Public Affairs
Adecco Group and President World Employment Confederation
Alexander N. Shokhin, President, RSSP - President of theRussian Union of Industrialists and EntrepreneursAndrè Street Founder, Stone Co. and SaltPay
Tokura Masakazu, Chairman of the Board, Sumitomo
Chemical Co., and Chairman Keidanren – Japanese Business Federation
Mark Tucker, Group Chairman, HSBC Holdings
Shemara Wikramanayake, CEO, Macquarie Group
Yuzhuo Zhang, Chairman, Sinopec Group

Börje Ekholm, CEO Ericsson
Maria Fernanda Garza, CEO Orestia
Dina Hasan Alnahdy, Co-Founder and CEO ENTEC
Renate Hornung-Draus, Managing Director, Confederation of German Employers’ Associations
David Iakobachvili, Vice-President, Russian Union of Industrialists and Entrepreneurs (RSPP)
Shinta Widjaja Kamdani, CEO, Sintesa Group
Robert S. Kapito, President and Director, BlackRock
Erol Kiresepi, Honorary President International Organizationof Employers (IOE), CEO of Santa Farma Pharmaceuticals
Masakazu Kubota, Director General of Keidanren
Wendy Mars, President EMEAR CISCO
Geoff Martha, Chairman and CEO of Medtronic
Mthunzi Mdwaba, President and CEO of TZoro IBC, IOE
Vice-President to the ILO
61

Klaus Moosmayer, Member of the Executive Committee
and Chief Ethics, Risk and Compliance Officer, Novartis
Paulo Nigro, GranBio, Former CEO; InConnection, Founder & Senior Advisor
Lubna Olayan, Chair of Executive Committee, Olayan
Financing Company
Yves Perrier, CEO Amundi
Paolo Rocca, CEO Techint Group
Klaus Rosenfeld, CEO of Schaeffler AG
Dilip Shanghvi, Managing Director of Sun Pharmaceutical Industries Ltd
Ingrid Sinclair, Global President of Sims Lifecycle Service,
Gurdeep Singh, Chairman & Managing Director, NTPC
LimitedJulie Sweet, CEO of Accenture
Jean-Pascal Tricoire, Chairman & Chief Executive Officer,
Schneider Electric
Livio Vanghetti, Vice-President Global Public Affairs Philip
Morris,Diane Wang, Founder, CEO and Chairperson of DHgate
Wang Jian, CEO BGI Group
Leon Wang, EVP International AstraZeneca
Bill Winters, CEO Standard Chartered PLC
Xin Baoan, Executive Chairman, State Grid Corporation ofChina (SGCC)HEADS OF GOVERNMENT AND MINISTERS
Mario Draghi, Prime Minister of Italy and President of theG20 Italy
Elena Bonetti, Italian Minister Equalities and Family
Roberto Cingolani, Italian Minister of Ecological Transition
Vittorio Colao, Italian Minister for Technological Innovation and Digital Transition
Luigi Di Maio, Italian Minister of Foreign Affairs and International Co-operation
Rupa Dutta, Senior Economic Adviser, Department for
Promotion of Industry and Internal Trade, Ministry ofCommerce and Industry, Government of India
Daniele Franco, Italian Minister of Economy and Finance
Enrico Giovannini, Italian Minister for Sustainable Infrastructure and Mobility
Roberto Gualtieri, Italian Minister of Economy and Finance
Mulyani Indrawati, Indonesian Minister of Economy and
FinanceJohn Kerry, U.S. Special President Envoy for Climate
Bhuvnesh Kumar, Joint Secretary, Ministry of Electronics
and Information Technology, Government of India
Muhammad Lutfi, Indonesian Minister of Trade
Maria Cristina Messa, Minister for University & Research, Italy
Mario Monti, Italian Senator, Former Prime Minister andFormer European Commissioner,

Xu Niansha, Chairman of China Poly Group Corporation

Alexey Overchuk, Deputy Prime Minister of the RussianFederation

Yu Jianlong, Executive Vice Chairman of China Chamberof International Commerce (CCOIC)

Barbara Pompili, French Minister of Ecological Transition

Zhang Xiaolun, Chairman, China National Machinery
Industry Corporation
Zhu Hongren, Standing Vice Chairman and Director
General of China Enterprise Confederation (CEC)

62

Budi Gunadi Sadikin, Indonesian Health Minister
Roberto Speranza, Italian Health Minister
Janet Yellen, US Secretary of the Treasury

VICE MINISTERS
Bella Cherkesova, Deputy Minister of Digital Development,
Communications and Mass Media of the Russian Federation
Dmitry Pristanksov, Russia State Secretary and Vice
President Norilsk Nickel
Shri K. Rajaraman, India Additional Secretary Department of Economic Affairs, Ministry of Finance

HIGH-LEVEL REPRESENTATIVES FROMINTERNATIONAL ORGANIZATIONSInger Andersen, Executive Director, UN Environment
Programme, UNEPDavid Beasley, Executive Director, World Food
Programme
Seth Berkley, CEO of GAVI, the Vaccine Alliance

Oleg Salagay, Deputy Minister of Health of the RussianFederation

Fatih Birol, Executive Director, International Energy
Agency, IEA

Hiroshi Suzuki, Japan Senior Deputy Minister for Foreign
Affairs and G20 Sherpa

Laurence Boone, Chief Economist, OECD
Mathias Cormann, Secretary General, OECD

G20 SHERPAS AND CHAIRS OF G20 WORKINGGROUPS

Patricia Espinosa, Executive Secretary UNFCCC

Jorge Argüello, Argentina G20 Sherpa and Ambassador

Marion Jansen, Director Trade and Agriculture
Directorate, OECD

Emmanuel Bonne, France Diplomatic Advisor to the
President and G20 Sherpa

Paolo Gentiloni, European Commissioner for the Economy

Ulrik Knusden, Deputy Secretary-General OECD

Manuel de la Rocha, Spain G20 Sherpa and Secretary
General of the Department of Economic Affairs

Christine Lagarde, President of the European Central
Bank

Raci Kaya, Turkey G20 Sherpa

Paola Leoncini-Bartoli, Director for Cultural Policies
and Development, UNESCODavide La Cecilia, Italy G20 Health Working Group Sherpa
Svetlana Lukash, Russia G20 Sherpa, Deputy Head of the
Presidential Experts’ Directorate
Luigi Mattiolo, Italy G20 and G7 Sherpa

Maurizio Martina, Assistant Director General - Special
Adviser, FAO
Ngozi Okonjo-Iweala, Director General WTO

Nicolas Pinaud, OECD G20 and G7 Sherpa

Mark Pearson, Deputy Director of Employment,
Labour and Social Affairs, OECD

Lars-Hendrik Röller, German G20 Sherpa and Economic
Advisor to Chancellor

Esben Poulsson, Chairman, International Chamberof Shipping, ICSJose Buainain Sarquis, Brazil G20 Sherpa

Dongyu Qu, Director General, FAO

Giovanni Tartaglia Polcini, Chair of G20 ACWG

Keith Rockwell, Director, Information and External
Relations Division and Spokesman, WTO

Pablo Tettamanti, Argentina G20 Sub Sherpa, and Secretary of Foreign Affairs

David Sassoli, President of the European Parliament
Stefano Scarpetta, Director of the Employment,
Labour and Social Affairs, OECD
Maximo Torero, Chief Economist, FAO
David Walker, Chair of the WTO General Council

63

BUSINESS, ACADEMIA AND CIVIL SOCIETY

Wolfgang Niedermark, BDI Member of the Board

Nicola Allocca, Vice-Chair, Anti-Corruption Committee,
Business at OECD

Britta Niemeyer, Head of Policy and Advocacy, Transparency International

Rifat Atun, Professor of Global Health Systems, Harvard
University

Michael Punke, Vice President for Global Public Policyof Amazon Web Services

Sanjiv Bajaj, President, Designate Confederationof Indian Industry

Rob Shuter, CEO Enterprise, BT

Michael R. Bloomberg, Founder, Bloomberg LP &Bloomberg Philanthropies
Robson Andrade De Braga, President, Brazil National
Confederation of Industry
Ronald Cohen, Chair, Global Steering Group for Impact
Investment
Massimo Deandreis, General Manager, SRM - Centre for
Economic Studies and Research (SRM Studi e Ricerche
per il Mezzogiorno), Intesa Sanpaolo
Gabriella Dorhliac, Executive Director, International
Chamber of Commerce (ICC) Brazil
Ramon Estruch Riba, Associate Professor at the Department of Medicine, Universidad de Barcelona
Gretta Fenner, Managing Director Basel InstituteLarry Fink, CEO, Blackrock
Gao Yan, Chairperson, China Council for the Promotion ofInternational Trade, CCPIT
Bill Gates, Co-Chair of The Bill & Melinda Gates Foundation & Founder of Breakthrough Energy
Ian Goldin, Professor of Globalisation and Development,
Oxford University
Iñigo Fernandez de Mesa, Vice President, Spanish Confederation of Enterprises, CEOE
Martha Findlay Hall, Chief Sustainability Officer, SUNCOR
Shigeru Hayakawa, Vice Chair, Board of Councillors,
Keidanren
Vivian Hunt, Senior Partner, McKinsey & Company
Angela Hwang, Group President, Pfizer Biopharmaceuticals
Charles R. Johnston, Chair, Business at OECD
Alan Johnson, President, International Federationof Accountants
Michael Robert Kremer, Professor, Kenneth C. Griffin
Department of Economics and 2019 co-recipient of theNobel Prize in Economic Sciences
Ali Karami-Ruiz, Senior Director and Sherpa, Businessat OECD
Deep Kapuria, Co-Chairman, CII National Committee
on International Trade and Trade Policy
Mario Mattioli, President, Confitarma
64

Viviane Ribeiro Chaine, Co-chair of MEDEF Europe
and International Commission
Bernard Spitz, Co-chair of MEDEF Europe and International Commission
Ivano Vacondio, President, Federalimentare
Victor Vekselberg, Chairman of the Skoltech Board ofTrustees and Chair of the RSPP Committee on International Cooperation
Innes Willox, President of the Global Business Coalition
Andrew Wilson, Policy Department Head, ICC
Robert Yates, Head of Global Health Security, ChathamHouse
Shaogang Zhang, Vice President of China Council for the
Promotion of International Trade, CCPIT

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