T20 Recommendations Realized: 2016 Hangzhou Summit
The Toronto-based G20 Research Group published a report on the Think20 recommendations realized by Group of 20 (G20) leaders at the Hangzhou Summit in 2016.
The Think20, an established and open network of research institutes and think tanks from the G20 countries, issued 22 recommendations in total, of which 19 (86%) were either partially or fully matched with the leaders’ commitments made at the summit in Hangzhou, China.
The report assesses not only how the Think20 recommendations were incorporated into the leaders’ communiqué, but goes a step further to predict the impact of the recommendations after the summit, based on an analysis of the assessed priority commitments.
A closer look at the recommendations
The highest number of recommendations made by the Think20 were related to trade. The five recommendations gave impulses to invigorate global trade as well as to maintain the key role of the World Trade Organization (WTO) in global trade cooperation.
Recommendations in the field of macroeconomic policy centered on the promotion of global economic growth as well as the acceleration of developing green economies.
With regard to financial regulation, the Think20 suggested the enhancement of financial crisis prevantative measures and global cooperation regarding tax governance. In addition, the field of development was prioritized, by recommending a strengthening of the 2030 Agenda for Sustainable Develoment and improving the international system of development financing.
Further recommendations made by the Think20 addressed the topic of infrastructure investment as well as the issues of labor and unemployment and the reform of international financial institutions such as the International Monetary Fund (IMF) and the World Bank.
A case for civil society engagement
The study shows that “the highest proportion of recommendations realized came in the areas of development, followed by labor and employment, reform of international financial institutions and infrastructure.”
This report contributes to the assessment of the effectiveness of the G20 in terms of the implementation of policies following the annual G20 summit. It provides evidence on the grounds that the involvement of civil society appears to influence an important center of global governance and tests the idea of whether the G20 provides a valuable forum for various transnational actors to exercise influence.
“Further research here would signal to the G20 to align its commitments more closely with non-state actors to improve its compliance and ensure that it is governing global issues in a way that capitalizes on the expertise of those working on these issues daily,” the authors explain.
It is of key significance to further bolster the central role the T20 plays in magnifying the G20’s impact by providing analytical depth to ongoing challenges and producing ideas to help the G20 deliver equitable and sustainable policy measures.
Click here to read the full report.
About G20 Insights
The G20 Insights Platform offers policy proposals to the G20. It is a new initiative of the Think 20 Engagement Group. The Policy Briefs, produced by Task Forces from the Think20 (T20) Group and other sources, are clustered in policy areas and describe either recommendations or visions. The G20 Insights Platform – Advisory Board decides on Policy Brief submission to the Insights Platform and its composition mirroring the G20 troika setting (the former, the current and the future G20 Presidency) for promoting relevance and coherence. It has the important responsibility to ensure that all contributions to the Insights Platform are of high quality, novelty and implementability.
About the G20 Research Group
The G20 Research Group is a global network of scholars, students and professionals in the academic, research, business, non-governmental and other communities who follow the work of the G20 leaders, finance ministers and central bank governors, and other G20 institutions. It is directed from Trinity College and the Munk School of Global Affairs and Public Policy at the University of Toronto, also the home of the G7 Research Group.