This is the first time that the private sector has made suggestions to the bloc’s president before the summit of heads of state; the measures include greater private investment in sustainable economies and a review of restrictive trade policies.
The president Luiz Inacio Lula da Silva (PT) meets this Wednesday (Aug 28, 2024), at the Planalto Palace at 9 am, with businesspeople to receive a list of public policy recommendations prepared by the group within the scope of the G20. The group, coordinated by the CNI (National Confederation of Industry), is part of the bloc’s business engagement forum, known as B20 (Business 20).
The following must participate in the meeting:
- Geraldo Alckmin – Vice President and Minister of Development, Industry, Trade and Services;
- Rui Costa – Minister of the Civil House;
- Fernando Haddad – Minister of Finance;
- Ricardo Alban – president of the CNI;
- Dan Ioschpe – president of B20;
- Constanza Biasutti – B20 sherpa (main negotiator);
- Francisco Gomes Neto – CEO of Embraer and leader of the B20 Trade and Investment task force;
- Fernando de Rizzo – CEO of Tupy and leader of the B20 Digital Transformation task force;
- Luís Renato Bueno – vice president of Suzano and leader of the B20 Education and Employment task force;
- Ricardo Mussa – CEO of Raízen and leader of the B20 Energy Transition and Climate task force;
- Luciana Ribeiro – CEO of EB Capital and leader of the B20 Infrastructure and Finance task force.
This will be the first time that members of the B20 have delivered the private sector proposals to the president of the country that coordinates the G20 in advance. According to the group, the goal is to ensure more time to analyze 24 recommendations before the final meeting, scheduled for November in Rio. The document will be delivered to Lula by Ioschpe and Alban.
Among the measures are the increase in private investments in sustainable economy and the review of public financing for the sector and the review of unilateral restrictive trade policies of G20 countries over the last 3 years.
The B20 is divided into 7 thematic task forces and is also composed of the B20 Brazil action council. The group has more than 1,000 members from over 40 countries.
In a note, Ioschpe states that the recommendations aim to find solutions for “major global challenges” such as the energy transition, decarbonization, digital transformation, and the fight against hunger, poverty and inequality. “The B20 proposals should influence the debate in the most important forum for international economic cooperation, which is the G20”it says.
For Alban, the plan that will be presented highlights the importance of Brazilian industry and has specific recommendations to contribute to a new cycle of growth in the country.
The proposals will be discussed during the B20 Summit Brazil, from October 24 to 25, in São Paulo.
Read the main proposals of the B20 below:
- Finance and Infrastructure – accelerate the deployment of private capital to facilitate the transition to a sustainable low-carbon economy;
- Energy Transition and Climate – accelerate the development and use of a portfolio of renewable and sustainable energy solutions to drive decarbonization in the short (2030) and long term (2050), ensuring energy security;
- Sustainable Food Systems and Agriculture – create innovative financing and collaboration models to support farmers’ transition to resilient and sustainable food systems;
- Trade and Investment – promote sustainable and resilient trade and investment;
- Women, Diversity and Inclusion – promote an inclusive environment for the future of the labor market;
- Employment and Education – prepare a resilient and productive workforce for the future of work;
- Digital Transformation – achieve universal connectivity of individuals and businesses, promoting digital trust and cybersecurity, laying the foundations for a responsible and pro-innovation approach to new technologies such as AI;
- Integrity and Compliance – promote ethical leadership to foster inclusive growth.
The G20 is made up of the 19 most developed economies in the world (see below), the European Union and, more recently, the African Union. The countries that make up the group accounted for 88.2% of global GDP and more than 75% of international trade in goods and services in 2022, encompassing 78.6% of the world’s population.
The countries that make up the G20 are:
- South Africa;
- Germany;
- Saudi Arabia;
- Argentina;
- Australia;
- Brazil;
- Canada;
- China;
- South Korea;
- United States;
- France;
- India;
- Indonesia;
- Italy;
- Japan;
- Mexico;
- United Kingdom;
- Russia;
- Türkiye.
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