Africa today has the opportunity to take a leading role in the global economy if it puts its youth and natural resources at the heart of its economic and social development. Taking advantage of these resources will require four actions: 1) take […]
Our recommendations to the G20 focus on solutions for women-led businesses around three broad pillars: (1) supporting the digital transformation and digital inclusion; (2) strengthening financing opportunities; and (3) improving the business climate via fiscal assistance. Each pillar includes actionable steps that […]
OPTIONS TO ADDRESS BARRIERS THE IMPORTANCE OF INTERNATIONAL SUPPORT: TOWARDS AN INTERNATIONAL HYDROGEN ECONOMY INITIATIVE (IHEI) In the past, international coordination of policies underpinning technology development has been crucial to prevent costly deadlocks. International collaboration can provide the public good of information […]
In many ways, climate change reinforces the importance of adherence by central banks to their core financial and price stability mandates. For example, developing countries are widely expected to require significant levels of foreign financing to fund climate interventions. These climate interventions […]
In this context, several policy options can be identified to ensure that stimulus packages are designed to support the longer-term recovery in a way that also facilitates the low-carbon transition. This alignment between the growth pick-up and climate objectives in stimulus packages […]
To overcome those challenges all states and the international community should create new climate change framework legislation and policies and amend existing laws to complete the implementation of the Paris Agreement, while establishing a clear roadmap to provide clarity on governance issues […]
In order to accelerate decarbonisation pathways and the CCE, enhanced international cooperation is required to standardise the measuring, reporting, verifying, and certification of the emissions content of internationally traded products. Given the aforementioned challenges, an international institutional and regulatory landscape should be […]
The science clearly shows that the most cost-effective NbS are at hand and bring many co-benefits in terms of climate, health and the economy. The top 20 climate change solutions listed by Project Drawdown, an ongoing research project of the most impactful […]
While our forefathers used things until they were broken, worn out, or no longer functional, a modern mindset has shifted to consumerism and convenience. With the growth of economies and disposable income, many producers and consumers adopted a linear pattern “Make, Use, […]
POLICY RECOMMENDATIONS There are solutions to address the challenges mentioned above by promoting smart city development models and combining technological evolution and effective governance that can lead to improvements in the quality of life and in the sustainable use of resources (Al […]
Regional certification schemes governing cross-border flows of personal data in APEC and the EU should be opened up to outside countries and multilateralised, with the prospect of moving towards interoperability in the future. Development of a common and universal privacy charter should […]
In order to define shared actionable policies around AI, we first propose to establish a Foundational Framework to identify the relevant AI-related pillars, goals and metrics, and then to employ an Operational Framework for strategic planning and effective execution. The Foundational Framework […]
In response to these challenges, we propose the following policy guidelines: CONTROL OVER OFFICIAL DATA “Official Data” (O-Data) is any data that requires authentication by the state or legally accepted sources (Generally Trusted Sources) for specified legal transactions. Examples include a user’s […]
The ILO’s Declaration on Fundamental Principles and Rights at Work sets out the “immutable nature” of the ILO’s core principles and seeks to promote their “universal application” (ILO 1998). Alongside this, the ILO Report on Decent Work fleshes out the Declaration in […]
To sift truth from fiction and provide enhanced protection from fake news, we propose that the G20 should adopt a two-layered approach as discussed in the following sections: ENHANCED SHARING AND CHECKING PROTOCOLS Social media platforms are key actors in the fight […]
CREATE A SUSTAINABLE TECHNOLOGY BOARD The G20 should create a Sustainable Technology Board (STB) as a mechanism for coordination, cooperation, and scaling of SusTech solutions.4 An STB is called for given the transformative potential of new technologies, and to address the concern, […]
DIFFERENCES AND COMMONALITIES IN INVESTMENT SCREENING Not all G20 countries have stand-alone investment screening mechanisms. Those which have such mechanisms are Australia, Canada, China, the EU, France, Germany, India, Italy, Japan, Mexico, Korea, Russia, South Africa, the UK and the United States. […]
Since SOMNEs have a direct bearing on the global economy, particularly financial stability, it is natural that efforts to design universal rules for their governance should be led by the G20. Without globally accepted prudential norms, SOMNEs may prove to be a […]
The global pathway to meet Paris Agreement targets by 2030 and net zero emissions by 2050 requires all governments to significantly strengthen and then successfully implement their energy, climate, economic and fiscal policies. At the first Summit in the aftermath of the […]
The pandemic is accelerating technological change and providing additional incentives for both firms and workers to move work online. Homebased platform work is especially relevant in a COVID-era economic landscape, given that both public health guidelines and consumer behaviour are leading to […]
2021 is an opportune year to start assembling the pieces of the circular economy puzzle and initiate a global transition towards resource conscious development. In line with the G20 Italy promoting “green circularity”, this policy brief endorses a universal approach to circular […]
Based on the above challenges the following recommendations are put forward for the G20 to ensure that digital transformation initiatives support today’s global development agenda. PRIORITISE THE DEVELOPMENT OF AN ENABLING ECOSYSTEM WHERE DIGITAL TRANSFORMATION CAN THRIVE When it comes to promoting […]
ENERGY COMMUNITIES In developed countries, there are clear benefits in supporting energy communities, especially when they are designed to allow vulnerable households to have a say in the main services the community plans to prioritise. “Community energy” is a decentralised energy system […]
Unlocking digital learning for all children has the potential to create societies that are both more inclusive and more prosperous. As education systems recover from COVID-19 school closures, we can choose to reimagine education and address the learning crisis to expand opportunity […]
While central bank operations are in many important ways unique, their global financial governance activities are analogous to the activities of other key actors in the global economy. The international community’s response to the relevant activities of these other actors can offer […]
ESG INFORMATION ESG information, disclosed directly by firms and expressed synthetically in ratings, plays a crucial role in ESG investing. On the one hand, it helps investors identify and manage risks and opportunities that standard financial analysis would miss. On the other […]
The current situation is reminiscent of the rapid development of financial services globally in the 1990s and 2000s. Fuelled by light-touch regulation, and in no small measure by hubris and the desire to follow their own self-determined rules, banks and insurers grew […]
WHAT IS “CLEAN-IT” AND “SUSTAINABILITY BY DESIGN”? With the introduction of digital applications to almost every imaginable aspect of human life, we can expect a dramatic increase in the use of digital technologies. At the beginning of the massive roll-out of such […]
AN INCLUSIVE, OPEN-ARCHITECTURE CARBON BORDER ADJUSTMENT MECHANISM At first glance, a Carbon Border Adjustment Mechanism (CBAM)6 would appear to be a welcome tool. It is intended to ensure that countries and regions that adopt carbon pricing policies and abatement measures effectively reduce […]
It is our contention that through the implementation of the following policy recommendation, the G20 can garner support amongst its partner countries to accelerate the reforms of national education policies and practices in ESD and to enable youth to contribute toward the […]
A WORLD RECOVERY FUND TO TACKLE DEBT AND LIQUIDITY PROBLEMS IN THE DEVELOPING WORLD Given the challenges highlighted above, we aim to add value to the current policy discussion on the debt problems of the developing world. Our proposal, namely creating a […]
Risk securitization is a relatively recent and innovative private sector means of insuring certain otherwise “uninsurable” risks. Originally developed to respond to certain natural disasters including hurricanes and earthquakes, risk securitization has been used to hedge catastrophic risks that insurance and reinsurance […]
The newly established G20 Working Group on Sustainable Finance should add a workstream on the macro-critical aspects of climate risks and the necessary financing and policy frameworks of a just transition to its Sustainable Roadmap. The IMF should play a key role […]
KEY ASPECTS TO CONSIDER: “Everyone can create money; the problem is to get it accepted” (Minsky 1986). Globally, conventional cash usage is declining.4 In countries such as Sweden and Norway, it is a well-entrenched process. In others, it is a slow-motion trend. […]
GLOBAL LIQUIDITY INSURANCE MECHANISM A solution to the systematic provision of foreign exchange liquidity during periods of crises is an insurance pool for the world’s major economies-mainly but not necessarily just for the EMDEs. 2 The design features of the Global Liquidity […]
In order to continue to respond to post-pandemic challenges and to bolster a strong and sustainable recovery, this policy brief makes the case for actions to reset the GFSN through proposals to boost the use of the IMF Special Drawing rights (SDRs), […]
In order to involve the private sector and allow for an orderly restructuring in the event of a wave of sovereign debt crises, the official sector needs to provide the private sector with both carrots and sticks. Bolton et al. (2020) proposed […]
This policy brief puts forward five actionable policy recommendations for national governments, monetary and financial authorities and the international community for economies to mitigate and manage risks to macrofinancial stability and debt sustainability caused by exposure to climate change. First, recognition of […]
The prominent role of macroeconomic policies adopted in response to the COVID pandemic warns against a quick reversal of the emergency measures undertaken by governments, regulators and central banks. In our view, it is of the utmost importance that monetary and fiscal […]
The G20 should explore how it can best engage with major internet and technology companies, ensuring that the interests of all its members, and not just those at the technological cutting edge, are represented. As a first step, it should establish a […]
THE RATIONALE Reducing Illicit Financial Flows is a requirement (Goal 16, target 16.4) of the United Nations (UN) Sustainable Agenda, but it remains a major challenge for International Organisations. International Monetary Fund (IMF) Committee on Balance of Payment (BOP) Statistics recently (IMF […]
INTRODUCTION This paper adopts a three-tier approach, aiming to provide a comprehensive framework of how international development cooperation and foreign aid can foster future scenarios where strong multi-stakeholder partnerships are a key tool in the implementation of SDG#17 (Strengthen the means of […]
For the token economy to thrive there is a fundamental need for legitimacy and market acceptance of token practices. Such legitimacy will only be achieved through international standards and framework regulations. Spreading knowledge of the potential of this technology will motivate market […]
GLS AS FRAMEWORK OF CONVERGENCE The globalisation of the world economy has fractured responsibility and diluted incentives. To fix that, we need greater transparency, consistency and integrity which means developing a shared set of comprehensive standards for identifying and communicating the things […]
In order to address the medium-term risk posed by domestic revenue shortfall due to sluggish recovery and currency depreciation for fiscal authorities in emerging markets and highly indebted developing countries, we propose the introduction of a new facility called Countercyclical Sovereign Financing […]
Since the transition from the Organisation for African Unity (OAU) to the African Union (AU) in 2002, Africa has been at the forefront of innovative multilateral practices. From using a wide range of tools, including the Lagos Plan of Action (1981) and […]
ESTABLISH A G20 WORKING GROUP TO ISSUE AN ANNUAL REPORT ON “GLOBAL RISK” An annual report on “Global Risk” would become a flagship product of G20 with support from T20. Since G20 aims to serve as a vital coordinating mechanism of global […]
INTRODUCTION Instead of focusing only on “top-down” reforms that seek to tackle the structural weaknesses of the current multilateral system, we suggest leveraging the opportunities for cooperation offered by fit for purpose responses to particular issues. The advantages of such cooperation can […]
REFRAMING GENDER AND CORRUPTION WOMEN AND VULNERABILITY Women are exposed to particular vulnerabilities. This does not result from their sex but from a range of social and structural factors. Gendered vulnerabilities originate in complex social hierarchical structures based on normative gender roles. […]
The G20 is uniquely placed to implement policies that leverage the benefits of cryptocurrencies, in particular, the DLT’s faster and more efficient transaction process. This section presents an analysis of the USA and China’s responses to cryptocurrencies, to demonstrate the benefits and […]