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Business and labor organizations call for renewed multilateralism from G20 countries

Published: 12 Nov 2020
Type: News

Geneva, 12 November 2020: Leaders from 13 international business and labor organizations joined voices to send a strong message to G20 countries to urge them to step up collaboration at the global level to tackle our global crises, including the unprecedented health and economic devastation that COVID-19 has created.

The pandemic has compounded several global fragilities—including economic exclusion, social inequalities and environmental degradation—that must be addressed in a globally coordinated manner to ensure an inclusive and resilient rebuild from the crisis. This is why, together, the 13 leaders have called for renewed multilateralism to deliver an inclusive, resilient and sustainable recovery from the convergence of crises facing our world.

The signatories include the leaders of the World Business Council for Sustainable Development (WBCSD), the World Economic Forum,  the International Trade Union Confederation (ITUC), the UN Global Compact, the International Chamber of Commerce, IMAGINE, Business for Social Responsibility, The Climate Group, Business for Nature, The International Organization of Employers, the We Mean Business Coalition and the Capitals Coalition.

The organizations represent a total market cap of over USD $25 trillion, around a quarter of the entire global economy, while the ITUC represents over 200 million workers in 163 countries.

Recognizing that global cooperation can put the world on a path to a sustainable and inclusive recovery, the 13 leaders have come together to ask G20 governments to:

1. Spend, but spend smartly.

2. Tackle inequality through social protection.

3. Mitigate risks to the global economy by bridging the “stimulus gap” in emerging markets.

4. Lead the world on climate action.

5. Reverse nature loss.

READ THE FULL LETTER HERE

Their call comes ahead of this month’s G20 Finance Ministers’ Meeting and Heads of State Summit. The outcomes of both of these convenings will be critical to determining how to deliver an economic recovery that works for all people and the planet.

The 2020 G20 Presidency is held by Saudi Arabia, and focuses discussions, forums, working groups and Ministerial Meetings under the theme of “Realizing Opportunities of the 21st Century for All”.

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