Why GlobalGovAffairs.com?
- There is a growing consensus among business leaders for the business community to express commitments on anti-corruption efforts, corporate social responsibility, corporate governance and other important areas.
- There is a need for a better consultation mechanism, notably with the business community and other stakeholders. The business community and the G20 should collaborate with the relevant regulators to improve the international and financial systems.
- Many growth opportunities of global magnitude are still latent and will only materialize if states, international bodies and business leaders act together to remove roadblocks and create favorable conditions.
- The G20 and the business community should collaborate to foster broader and more efficient market. Successful fighting corruption is a crosscutting objective. The B20 commits to accelerate private-sector initiatives to establish common rules, to improve compliance, and to accelerate the “supply-side” of corruption.
- There is a need for the development of real and effective public-private partnerships to identify and work together to meet job needs, skill gaps and education requirements.
- The business community and governments should join forces to accelerate and more fully leverage innovation with a priority on green growth as well as on information and communication technologies (ICT). The business community and the G20 should work together to develop the stable and appropriate regulatory frameworks necessary to ensure an attractive and level playing field. This includes putting a price on carbon, freeing trade in green goods and services, harmonizing rules pertaining to ICT (privacy protection, cyber security, intellectual property, author rights).
- To improve the performance of public services- doing more and better with less- governments and the business community should work together to develop outsourcing and public-private partnerships, and to leverage the private sector best practices (e.g. on education).
- The business community commits to focus on long-term value creation in reforming corporate governance principles and compensation systems.
- The business community and the G20 need to work together to reduce volatility and ensure adequate food production and access.
- The business community and the G20 should work together to develop a framework for better projects (e.g. Well Prepared Projects, new types of public-private partnerships, infrastructure attractiveness index)
- Business leaders propose to develop real and effective cooperation among business, governments, education providers and labor unions to identify job needs, skill gaps and education requirements, and work in public-private partnerships to meet these needs and requirements.
- Business leaders reaffirm as a principle that companies should be responsible for the economic, social and environment impact of their business decisions. They commit to support broad-based CSR initiatives, such as the UN Global Compact and the Organization for Economic Cooperation and Development (OECD) guidelines for multinational enterprises, and to encourage the full adoption of CSR principles on a global basis.