Krutham is a leading research and consulting firm that specialises in the financial sectors of emerging markets. Its analysis is used by companies, investors, stockbrokers, regulators, policy makers and companies in South Africa and around the world. It has offices in Johannesburg, London and Boston.
This report was commissioned by Sanlam. It was produced independently by Krutham and the contents represent the views of Krutham and its analysts.
Disclaimer
This report may include content generated with the assistance of artificial intelligence (AI) tools. These tools were used to enhance efficiency, streamline data analysis and support insights. Krutham remains responsible for the content and we have assessed any AI output to determine that it is accurate. The report is based on information the authors believe to be reliable, but Krutham makes no guarantees as to its accuracy. Krutham cannot be held responsible for the consequences of relying on any content in this report.
Project director: Dr Stuart Theobald
Project manager: Nicole Martens
Project analysts: Abongile Gotyana, Fezeka Thwala & Dr Lameez
UNFCCC United Nations Framework Convention on Climate Change
WD&I Women, Diversity & Inclusion
WG Working Group
WTO World Trade Organization
Executive Summary
This special edition of the Sanlam ESG Barometer examines the policy influence of the B20 – the official business dialogue to the G20 – over the past three years. Its aim is to understand which B20 recommendations are most likely to be adopted by G20 leaders and turned into concrete action. The report also serves to share evidence-based insights that can strengthen the B20’s ability to shape global policy.
The research responds to a central challenge: while the B20 produces a large body of proposals each year, only some move from recommendation to G20 endorsement and then to national or international implementation. By tracing how proposals from 2022–2024 travelled through this policy pipeline, the report identifies what makes the difference between ideas that remain on paper and those that result in measurable change.
Our methodology combined primary and secondary research. We reviewed all B20 proposals over the three-year period, mapped their inclusion in G20 communiqués and tracked subsequent policy or programme action by G20 governments. We analysed official G20 and B20 records, and interviewed taskforce chairs, policy experts and other stakeholders to test and refine our findings.
The analysis yields three main findings. First, certain themes –including climate action, digital transformation, MSME support and inclusive growth – recur across cycles, reflecting both their long-term complexity and the persistence of the B20 in pressing for action. Second, tangible change does result from the process, with examples ranging from digital public infrastructure rollouts to new climate finance mechanisms. Third, successful proposals share common traits: clear alignment with G20 priorities; specific institutional or financial mechanisms; measurable targets; continuity through legacy structures; broad stakeholder engagement; and a focus on global public goods.
We hope this work will help B20 participants design proposals that are more likely to be adopted and implemented, improving the forum’s credibility and its impact on global economic governance.
We welcome feedback from B20 participants and stakeholders. Comments can be sent to Nicole Martens, Head of Impact Advisory at Krutham (nmartens@krutham.com). Readers interested in contributing further insights are invited to contact the project team.
Understanding the B20/G20 process
The G20 (Group of Twenty) was established in 1999, initially serving as an informal forum for finance ministers and central bank governors from the world’s largest economies at the time. Its original purpose was to foster global financial stability through international cooperation and coordination of economic and financial policies. Since the 2008 global financial crisis, the G20 agenda has expanded beyond broad macroeconomic policy to include governance, finance, digital economy, education, agriculture, trade, sustainable development, energy transitions, health, climate change and the environment, anti-corruption and more (South African Institute of International Affairs, 2025).
The G20 consists of 19 permanent member countries, as well as the European Union and, since 2023, the African Union.
Collectively, they represent about 85% of global GDP, 75% of international trade and two-thirds of the world’s population.
The G20’s flagship event, the G20 summit, is hosted annually under the leadership of a rotating presidency among member states. The incumbent presidency, together with the countries holding the previous and next presidencies, sets the summit’s agenda for the year. This “troika” system ensures continuity between presidencies. The agenda is shaped by the current geopolitical and economic priorities of each presidency, along with the commitments and objectives carried over from previous years.
The work leading up to the summit is divided into two main tracks involving more than 100 meetings with technical experts and policymakers. The finance track is led by finance ministers and central bank governors focusing on economic and financial issues. The “sherpa” track is led by personal representatives of each member country’s leader who steer negotiations throughout the year and focus on broader political and policy issues. Each track is supported by thematic working groups that address specific topics. Working group chairs report on the outcomes of these discussions and deputies help resolve disagreements before reporting to ministerial meetings. This process is followed to maximise the chances of reaching mutual agreement (Centre for the Advancement of Scholarship, 2025).
Agreements are formalised and adopted as declarations at the end of each summit. The declarations are consensus-driven commitments that serve to hold member countries accountable for implementing collectively approved policies.
1 Despite calls for suspension, Russia remains a G20 member and is expected to participate in the summit, with official meetings and preparations involving Russia already under way (for example, Russia has taken part in G20 meetings in South Africa this year at the ministerial level. Russian Foreign Minister Sergey Lavrov attended the G20 Ministerial Meeting held in Johannesburg in February 2025.). While President Vladimir Putin’s in-person attendance is uncertain due to the ICC arrest warrant and South Africa’s legal obligations, Russia is likely to be represented by high-level officials such as Foreign Minister Sergey Lavrov.
Table 1: G20 member countries
FOREWORD
By Paul Hanratty, CEO Sanlam Group
The Sanlam ESG Barometer has, for two years, served as crucial business led research gauging the sustainability practices of listed companies in South Africa and Kenya. It’s an initiative born of a conviction that businesses must move beyond mere compliance to a tangible, measurable “additionality” - that is, the positive impact they create on environmental and social outcomes. Now in its third year, this report pivots to a new and vital focus. In a year where South Africa holds the G20 presidency, it is fitting that we use this platform to honour the global impact of the B20 and G20 forums, demonstrating the real-world value created by their policy recommendations.
It has been my privilege to chair the B20 South Africa Employment and Education Task Force in 2025. The role has shown me that our collective efforts extend far beyond policy papers and debates. They are a catalyst for tangible outcomes that shape the global economic landscape. It has been humbling and inspiring to engage with people from every G20 country, all wrestling with the same urgent questions of our time.
The B20/G20 is a powerful global forum. What struck me most was the shared dedication to its core mandate: to advance sustainable, inclusive growth and address urgent global priorities like job creation, skills development, energy security, and food system resilience. The eight B20 South Africa Task Forces distilled complex geopolitical matters into a focused, business-driven agenda aimed at collective impact. Having reviewed this year’s B20 recommendations, I feel excited that the South African presidency year will be a seminal one with a strong focus on African priorities.
The report will show that South Africa is in a strong position to contribute to global policy that seek inclusive growth in all aspects of human development. We follow the leadership of Indonesia, India, and Brazil, all of which have hosted the
G20/B20 over the past three years. Their presidencies delivered powerful, concrete outcomes:
Indonesia (2022) initiated a Pandemic Fund to strengthen global health infrastructure and a Just Energy Transition Partnership that has mobilised billions in private and public capital to support developing economies.
— India (2023) accelerated the deployment of digital public infrastructure, empowering millions of unbanked citizens and enabling widespread access to financial services.
Brazil (2024) placed hunger and poverty at the core of the global agenda, launching the Global Alliance against Hunger & Poverty to expand food access and establish critical safety nets.
As the current G20 President, South Africa has advanced a strategic agenda focused on a just energy mix, equitable digital access, future-fit jobs and skills, and resilient food systems. These priorities are aligned with the 30 B20 recommendations designed to foster collaboration and drive a more equitable world.
Sanlam’s active engagement in the G20/B20 is a strategic business imperative - it speaks to the heart of the way we do business. As Africa’s largest non-banking financial services group, we have a responsibility to ensure the continent’s economic voice is amplified at the highest level of global decisionmaking. Our expertise in financial inclusion, sustainable investment, and digital transformation provides a unique vantage point. By actively participating, we shape policies that unlock growth, align our business objectives with longterm systemic progress, and ultimately, deliver value to our stakeholders and the wider African economy. We are a business dedicated to helping people live with confidence. We know the world is incredibly complex, but our responsibility is to use our will and resources to meet these challenges and create a lasting positive impact.
This ESG Barometer is not just a report, it is a benchmark of our corporate responsibility. It reflects our commitment to influencing global priorities and driving sustainable development across Africa. We will continue to be a key partner in this critical journey.
OVERVIEW
The G20’s work is supplemented by various engagement groups as part of the G20 members’ commitment to engage relevant stakeholder communities. These groups develop recommendations that seek to influence G20 outcomes and help shape the policymaking process. The Business20 (B20) is one of 14 official G20 engagement groups, alongside Civil20 (C20), Labour20 (L20), Science20 (S20), Think20 (T20), Women20 (W20), Youth20 (Y20) and Urban20 (U20), among others.
The B20 was established in 2010 as the official engagement group between the G20 and the international business community. It brings together private sector representatives via organised business in each of the G20 countries, developing joint policy recommendations and ensuring business perspectives are considered in global decision-making (The Federation of German Industries (BDI), 2020).
The B20 presidency rotates annually with the G20 presidency. Each B20 cycle begins with an invitation from the chairman to companies and business associations across G20 countries to apply for membership. Once formed, participants are organised into topical working groups, where industry representatives collaborate on key global economic challenges and build consensus around shared policy positions.
The chairperson is the official representative of business stakeholders within the G20, engaging with G20 working group meetings, holding dialogues with G20 ministers and sherpas and participating in media outreach activities. The B20’s policy recommendations are formally presented to the G20 presidency at the annual B20 summit. These recommendations often influence G20 outcomes. For example, the B20 has played a key role in bringing issues such as digital trade and e-commerce onto the G20 agenda and has contributed to the development of several G20 initiatives aimed at strengthening support for small and medium-sized enterprises.
The B20 summit is held annually in the same country as the G20 summit, under the same rotating presidency. South Africa holds the current G20 presidency and will host the summits in 2025, after which it will hand over the presidency to the United States. South Africa has been the only African country member of the G20 since 1999.
South Africa
This year’s B20/G20 Summit in South Africa marks a historic moment as the first to be held in Africa. It represents a significant milestone for the continent and for the broader Global South, concluding four consecutive years of Global South leadership (following Indonesia, India and Brazil) before the presidency transitions to the United States in 2026.
Objectives
The overarching theme for the South African G20 presidency in 2025 is “Inclusive Growth and Prosperity through Global Cooperation” with four main objectives:
1.
Strengthening disaster resilience and response.
South Africa aims to elevate climate-induced disaster recovery, particularly for financially strained countries, to the G20 leaders’ agenda, pushing for greater post-disaster reconstruction support from international financial institutions and the private sector. This builds on the Rio summit’s commitment to global disaster risk reduction under the Sendai Framework, with South Africa focused on turning those commitments into concrete action. While much of the implementation happens outside the G20, coordinated pressure from its influential member states could help mobilise greater support for post-disaster recovery. However, political divisions, particularly US opposition to stronger climate action, pose a significant challenge to consensus and progress.
2.
Debt sustainability for low-income countries. Unsustainable levels of debt, high structural deficits and liquidity challenges facing low-income and developing countries remain central concerns for South Africa. Its priorities include extending debt relief, ensuring fair and transparent sovereign credit ratings and addressing disproportionately high-risk premiums for developing economies. While last year’s G20 has encouraged greater transparency of credit ratings and country risk assessments, as well as support from institutions like the IMF and World Bank on country-specific solutions, meaningful progress may be difficult to achieve this year. Although a report by the UN Conference and Trade acknowledges that credit ratings are susceptible to bias, it also concludes that ratings matter less when countries have strong, transparent systems for managing their debt as well as reliable, accountable institutions (UNCTAD, 2025). A more pressing issue for South Africa is that while international debt relief initiatives provide solutions for debt owed to official creditors, a significant portion of South Africa’s debt is owed to private creditors outside official debt relief frameworks (CEIC Data, 2024). The challenge of dealing with private lenders is complex because, unlike multilateral or bilateral creditors, they do not provide structured frameworks for debt restructuring or forgiveness. This reduces governments’ negotiating power and makes it difficult to reach agreements with diverse private entities, making debt restructuring a complex task with limited chances of success outside established frameworks.
3.
Mobilise finance for a just energy transition.
South Africa aims to secure an agreement on scaling up both the quality and quantity of climate finance for developing countries by strengthening multilateral development banks, streamlining support for initiatives like the country’s Just Energy Transition Partnership and better leveraging private capital. While the G20 has previously endorsed stronger climate financing, including Brazil’s creation of a task force on global climate mobilisation, progress is likely to be slower than desired as a result of US resistance and a fragmented global financing landscape. Still, South Africa is well-positioned to lead on this issue by using its own energy transition experience to advocate for more effective climate finance flows.
4.
Critical minerals.
South Africa views the rising demand for critical minerals driven by the energy transition as a chance for resource-rich countries, many of which are in Africa, to accelerate growth and development through local beneficiation. It is advocating, along with other African nations, for a regional approach to mineral processing and industrialisation. At the same time, the global trade system has become more polarised, placing African countries in a favourable but also risky position given the US’s aggressive approach to trade relations. The US preference for bilateral trade agreements could undermine South Africa’s multilateral push to position critical minerals as a driver of growth and development across the continent. This makes a unified African strategy, particularly one centered on domestic beneficiation, less likely under the Trump administration. While significant progress on continent-wide local processing may be limited during this G20 presidency, South Africa is expected to shift the conversation beyond past commitments of previous G20 presidencies to supporting sustainable and responsible supply chains for critical minerals, including for critical minerals and materials beneficiated locally at the source.
Structure
South Africa’s G20 includes three key task forces:
1.
Inclusive economic growth, industrialisation, employment and reduced inequality;
2.
Food security, artificial intelligence and data governance; and 3.
Innovation for sustainable development.
Unlike traditional structures, these task forces are not tied to a single track but draw members from both the sherpa and finance tracks, as well as relevant working groups and reflect the core priorities of South Africa’s leadership agenda. Additionally, President Ramaphosa committed to supporting the creation of a new engagement group, the Township20 (TS20), to amplify voices from township economies. The TS20 was officially announced in December 2024, with proceedings kicking off with an inception conference held in March 2025 followed by a policy dialogue session in April 2025.
Business Unity South Africa (BUSA) is hosting this year’s B20 Summit in partnership with leading sponsors such as the Johannesburg Stock Exchange, MTN and Kwikot, signalling strong support from the private sector.
The B20 South Africa governance structure consists of several key bodies:
1.
Steering committee and leadership team providing strategic oversight, guiding the overall B20 process and engagement with the G20
2.
Task force chairs leading policy discussions
3.
Local advisory council offering South African business insights
4.
International business advocacy group ensuring global alignment.
Figure 1: B20 South Africa Structure
An unprecedented challenge: the influence of the US in South Africa’s G20 journey
The United States has had a complex and at times contentious influence on South Africa’s G20 presidency. The current US administration has been sceptical of multilateral institutions, emphasising an “America first” approach. This includes withdrawing from key global agreements such as the Paris Climate Agreement and the Climate Loss and Damage Fund, as well as reducing commitment to international development and climate finance initiatives. Deteriorating US-South Africa relations, including US disapproval of South Africa’s domestic policies such as black empowerment and land reform, as well as its stance on Israel, have intensified an already complex situation. US disengagement poses both geopolitical and operational challenges for South Africa’s G20, including:
1.
Erosion of US political participation: Key US officials, including Secretary of State Marco Rubio and Treasury Secretary Scott Bessent, skipped South Africa’s G20 foreign and finance minister meetings, citing ideological conflicts. Despite their absence, G20 finance leaders issued their first communique since October, affirming central bank independence, multilateral cooperation and support for global trade and debt reform, which signalled a return to renewed consensus after an extended phase of geopolitical deadlock.
2.
Shift from multilateralism to protectionism: The Trump administration’s pivot towards bilateralism, tariffs (30% on South African imports) and aid suspension disrupted frameworks like the Just Energy Transition Partnership and AGOA preferences. This shift reduced the US’s role in global cooperation and increased the pressure on South Africa to strengthen alliances with other partners such as the EU and China (Martinez et al., 2025).
3.
Divisions over climate financial regulation: The G20’s Financial Stability Board (FSB) introduced a medium-term plan to tackle climate-related financial risks, but US withdrawal from several key working groups created divisions that stalled progress. This disengagement hindered South Africa’s efforts to advance climate finance initiatives, slowing momentum on integrating climate risks into global financial systems (Furness et al., 2025).
Heading up the steering committee are newly appointed BUSA president, Mxolisi Mgojo and Chair of Business Leadership South Africa (BLSA), Nonkululeko Nyembezi. The steering committee co-chairs also chair the international business advocacy caucus where global business leaders would have advised on and advocated for the B20 policy proposals.
Dr Anthony Costa serves as head of the secretariat for B20 South Africa, overseeing preparations for the summit. Prior to this role, he was part of the Private Office of the President of South Africa, where he led the President’s Investment Mobilisation Programme and advanced key public–private sector initiatives.
The Local Advisory Council is co-chaired by the CEO of BLSA, Busisiwe Mavuso, and Khulekani Mathe, the CEO of BUSA. The council brings together leading South African CEOs who provide local business insights and guidance throughout the B20 process.
Cas Coovadia, the B20 sherpa and former CEO of BUSA, announced the formation of eight task forces for B20 South Africa during the summit’s opening event held on 24–25 February 2025 in Cape Town. The task forces are made up of leading business figures from Africa, Asia, Europe, the Americas and the Middle East.
Figure 2: B20 South Africa Leadership Structure
Mxolisi Mgojo
B20 Co-Chair
Nonkululeko Nyembezi
B20 Co-Chair
Cas Coovadia B20 Sherpa
Anthony Costa B20 Secretariat
Each task force is led by a South African or African business chair, supported by global co-chairs and approximately 250 virtual participants per group. To ensure broad international representation, local participation has been limited to one-third. Half of the task force chairs are women, another first in B20 history, highlighting South Africa’s strong commitment to gender balance and inclusivity.
While six of the task forces follow standard themes, the B20 under the South African presidency has introduced a new task force on industrial transformation and innovation, and retained Brazil’s focus on agriculture and food systems, emphasising Global South priorities.
Local Advisory Council
Busi Mavuso
B20 Advisory Council Chair
Khulekani Mathe
BUSA CEO
B20 International Business Advocacy Caucus
The eight task forces and their chairs include (Larkin, 2025):
Trade and investment task force, Busi Mabuza, Chair of the Industrial Development Corporation (IDC)
Employment and education task force, Paul Hanratty, CEO Sanlam Limited
— Energy mix and just transition task force, Daniel Mminele, Chairman Nedbank
Digital transformation task force, Phuthi Mahanyele-Dabengwa, Executive Director Naspers
Finance and infrastructure task force, Sim Tshabalala, CEO Standard Bank Group
Integrity and compliance task force, Ruwayda Redfearn, CEO Deloitte Africa
— Sustainable food systems and agriculture task force, Debra Mallowah, Head of Bayer Africa
Industrial transformation and innovation task force, Andrew Kirby, CEO Toyota SA
Process
The B20 has made significant strides in shaping policy recommendations for the G20. The summit launch event, in February in Cape Town, officially set in motion the year-long engagement of business leaders and task forces in shaping actionable recommendations for the G20.
The task forces were announced at the launch event and outlined the areas of focus for 2025. Members held their first meetings to discuss core policy challenges, share perspectives from across sectors and countries and set initial workplans. The sessions emphasised how to leverage Africa’s opportunity to lead on issues like digital innovation, sustainable energy and food security.
Each task force laid the groundwork for research and consultation efforts by mapping stakeholder engagement plans and identifying urgent topics for the year. Task force leaders joined panel discussions with global business and policy experts. These conversations covered the influence of emerging technologies (for example, AI in digital transformation), resilience in supply chains and mechanisms for impactful African participation in global business policy (Stansfield & McQueen, 2025).
By June 2025, all task forces completed first drafts of their policy recommendations after intensive consultation and research. B20 South Africa co-chair Mxolisi Mgojo and B20 South Africa sherpa Cas Coovadia hosted an inaugural media roundtable, the first in a series of quarterly engagements with the press. Task force chairs shared initial, evidence-based proposals that will be developed into both long-term policy reforms and short-term actionable measures.
Strong emphasis was placed on Africa’s central role in driving global economic growth, leveraging its assets such as critical minerals, renewables, food security and a young workforce. This largely depends on the continent’s ability to maintain and expand infrastructure, mobilising both public and private capital to cover an infrastructure funding gap of $85bn a year (Arnoldi, 2025).
In July, the finance and infrastructure task force put forward a bold proposal to ease Basel III capital rules and high-risk weights on infrastructure investments. According to Standard Bank Group CEO and task force chair Sim Tshabalala, reducing risk weights for long-term infrastructure would make it easier for banks to lend and ultimately free up billions in infrastructure investments for the continent. The funding gap for South Africa alone is around $29bn a year (Khumalo, 2025).
Additional iterations of task force policy recommendations were scheduled for review in August, with final recommendations delivered to the G20 in early September.
Focus areas
The broad vision for B20 South Africa is to serve as a catalyst for cooperation and innovation between the business communities in the Global South and North with the goal of advancing more inclusive global economies. Under the theme “inclusive growth and prosperity through global cooperation”, B20 South Africa seeks to foster coordinated action among diverse global economies, elevate Africa’s voice and drive equitable solutions to global challenges (Burger, 2024).
The summit leverages South Africa’s G20 presidency to amplify the African perspective in global discussions, advocating for enhanced African trade, fairer funding mechanisms, infrastructure development in energy and water, strengthening governance and fortifying economic resilience.
According to the head of secretariat, B20 work is centred on four key pillars:
1.
Unlocking inclusive growth
2.
Investing in human capital
3.
Driving industry reforms for resilience
4.
Empowering women alongside small and medium-sized enterprises within supply chains.
The eight task forces will address key global challenges including trade, energy, digital inclusion and climate resilience, while ensuring African perspectives are prominently represented. Key themes emerging include:
Table 2: B20 South Africa Taskforce Key Thematic Areas
TASK
FORCE
Employment & education
Trade & investment
Energy mix & just transition
Digital transformation
Finance & infrastructure
Integrity & compliance
Sustainable food systems & agriculture
Industrial transformation & innovation
KEY THEMATIC AREAS
• Ensure all children reach core cognitive development milestones
• Align skills development with labour market needs
• Increase youth employment
• Increase female participation in the labour market
• Promote self-employment by supporting entrepreneurship and SME job creation
• Advocate for AfCFTA acceleration, open markets
• Foster stability in global trade and revive multilateralism
• Promote the development of a climate-responsive trade architecture
• Balance sustainability and energy security
• Mobilise sustainable energy transition finance
• Accelerate industrialisation across the energy value chain
• Expand and modernise energy infrastructure
• Expand tech access for economic growth
• Address digital skills gap and digital literacy
• Ensure access to high quality, modern, affordable and reliable internet
• Develop AI ethics and regulation
• Unlock long-term investment
• Increase the availability and efficiency of public and private investment
• Support the expansion of investable infrastructure projects
• Ensure infrastructure investments are sustainable
• Reduce the cost of capital through partnership with DFIs and multilateral institutions
• Strength anti-corruption measures
• Strength integrity and compliance frameworks
• Leverage tech for anti-corruption
• Promote resilient agriculture for global supply chains
• Ensure access and affordability
• Promote science-based solutions, inclusive trade and regional collaboration
• Drive tech-led economic transformation
• Implement future-fit industrial development pathways
• Adopt future-fit, sustainable technologies
• Improve access to markets and routes to scale
Legacy initiatives
Legacy initiatives are structures, platforms or programmes designed to extend B20 outcomes beyond a single presidency. They ensure continuity, scaling of recommendations and lasting benefit to host nations. Legacy initiatives first emerged during B20 Indonesia and were continued through B20 India and B20 Brazil. Indonesia introduced the Carbon Centre of Excellence, India established the B20 Global Institute and Brazil launched the B20 Climate Hub as well as the Action Council on Women, Diversity and Inclusion (WD&I). These pioneers provided templates and governance models, including a transition process from one presidency to the next.
Legacy initiatives within the B20 process emerged from a growing recognition that the B20 as the official G20 engagement group for business needed to achieve more than just annual policy recommendations. Business leaders and sherpas saw that too many good ideas were lost from one presidency to the next, as each host country began from scratch, with little institutional memory, continuity or followthrough (de Faria, 2024).
The turning point came during Indonesia’s G20 presidency in 2022. The B20 Indonesia team created – among other initiatives – the Carbon Centre of Excellence – a platform to help businesses align with net zero targets and implement climate commitments made under that year’s policy recommendations. This centre was designed not just as a one-off project, but as an ongoing, standalone initiative that could outlast the Indonesian presidency. It marked a shift from one-year outputs to long-term impact (Jakarta, 2022).
Launched the Carbon Knowledge Hub, a free digital platform providing transparency on carbon markets.
Expanded educational content including beginner primers, detailed factsheets and expert commentaries.
Conducted webinars, knowledge-sharing workshops, and practice sharing sessions engaging multiple industries globally.
Advocated the expansion of voluntary and compliance carbon markets, promoting carbon pricing in corporate sustainability strategies.
Continues to update the platform with new content, regulatory changes, market data; and facilitates business matchmaking for carbon project investments.
Established a global informational repository with primers and factsheets for varied expertise levels on compliance and voluntary markets.
Delivered structured educational content such as primers explaining market mechanics, regulatory overviews and risk factors, helping businesses to understand carbon market participation.
Strengthened business and policy community capacity through interactive sessions on carbon pricing mechanisms, offset certification, and emission reduction strategies.
Influenced increased corporate adoption of internal carbon pricing and participation in emerging compliance markets by contextualising risk and opportunity.
Maintains relevance as a leading knowledge hub supporting business and government navigation of the evolving global carbon market.
Table 3: Indonesia B20 Carbon Centre of Excellence: Key achievements (2022–2025)
These early efforts showed that B20 outcomes could be more than just summit documents. They could become sustained, structured efforts built around priority areas such as climate, inclusion or governance that would live beyond a single host country’s term. Over time, the idea of “legacy initiatives” became formalised within B20 circles as part of its institutional architecture. By the time South Africa assumed the G20 presidency in 2025, legacy initiatives were no longer optional; they had become a critical part of how B20 drives continuity, institutional memory and credibility. Today, they represent the best chance for turning short-term proposals into long-term reforms.
Plans to establish lasting platforms that extend B20 South Africa’s influence beyond its 2025 presidency are underway. Task forces have proposed legacy initiatives that include a regional digital transformation hub, a just energy transition platform and an open innovation network connecting science, youth and biodiversity efforts (B20 Global Institute, 2025b). These are not yet finalised but are being shaped to align with long-term national and continental goals. The intention is to move beyond short-term policy recommendations and create mechanisms such as financing toolkits, data observatories and partnership frameworks that can continue under future G20 presidencies and drive inclusive growth across Africa (B20 Global Institute, 2025a).
Catalysing the Skills Dividend: Why Africa’s Youth Hold the Key to Global Prosperity
By Paul Hanratty, Group Chief Executive at Sanlam
In Kenya, a group of young developers has created an AI-powered app that allows farmers to diagnose crop diseases using just their smartphone cameras. This innovation is not just about technology; it’s about transforming agriculture and livelihoods. It’s a vivid example of how Africa’s youth are not waiting for the future to arrive - they are already shaping it.
By 2035, more young Africans will join the workforce each year than the rest of the world combined. If this booming generation is guided effectively, it will become Africa’s greatest asset.
That is why I believe the conversation about Africa’s future is not only about trade or investment. It is fundamentally about skills. Skills are the bridge between potential and prosperity. They turn population growth into economic growth. And they are the foundation on which we can build an Africa that exports not only minerals, but also talent, ideas and innovation.
Africa at the Centre of Global Growth
The numbers tell a powerful story. Over 60% of South Africans under 25 are unemployed. At the same time, workforces in Europe and Asia are shrinking as societies age. The imbalance is striking.
Africa is already the youngest continent on earth. By 2050, one in three of the world’s young people will live here. For business, that means the future employee, entrepreneur and consumer is increasingly African. For policymakers, it means no global growth strategy can succeed without Africa’s full participation.
But numbers alone do not guarantee prosperity. We must equip Africa’s youth with the skills, resilience, and confidence to thrive in industries being reshaped by digitalisation, automation, and the green transition.
From Potential to Dividend
The challenge is that education and training systems across much of Africa remain out of step with the demands of the modern economy. Too often, graduates emerge without clear pathways into work. Technical and vocational programmes are underfunded, and digital access is uneven. Women, who should make up half the workforce, remain excluded by structural barriers.
If Africa’s youth are to power global growth, three big shifts are required.
1. Education must prepare for tomorrow
Too many systems still reward memory and the ability to recall information, over creativity. Yet the jobs of the future - whether in fintech, logistics, renewable energy or AI - will demand adaptability and innovation. Reform must begin early and continue through lifelong learning.
2. Training must connect to opportunity
Education in isolation is not enough. Young people need visible, practical pathways into work. Apprenticeships, internships, and entrepreneurship platforms can bridge the gap. Digital tools like SAYouth.mobi show what is possible, but they need to scale from pilot projects to national infrastructure.
3. Growth must be inclusive
We cannot unlock Africa’s potential if women remain sidelined, if rural youth are excluded from digital access or if informal work is ignored. Inclusion is not a side issue; it is the core of the skills dividend. Every barrier removed is talent unlocked.
The Role of Business
For too long, skills development has been seen as the responsibility of governments alone. That must change. Businesses must see investment in skills not as CSI but as core strategy.
At Sanlam, we have invested in financial literacy, entrepreneurship incubation and regional training hubs. We have seen how targeted interventions transform lives. But we have also learned that no single company can do this alone. Growth is systemic. It requires alignment between business, policymakers and educational institutions.
That is why the B20 matters. As the business forum of the G20, it has placed education, skills, and youth at the heart of the global agenda. The recommendations from the B20 Employment and Education Taskforce, which I had the privilege of leading this year, range from embedding green and digital skills, to promoting lifelong learning, to supporting women and youth into work. They are practical, urgent - and importantly, achievable. They are not about ticking ESG boxes. They are about building the future economy.
A Shared Responsibility
South Africa’s Presidency of the G20 gives Africa a unique chance to put youth and skills at the centre of the global growth agenda. When an African entrepreneur pioneers renewable energy, the whole world benefits. When African coders develop fintech platforms, they expand access across continents. When African women enter the workforce at scale, they lift entire communities and economies.
But these outcomes will not happen by default. They require investment in digital infrastructure, bold policy reforms, and leadership that is coordinated across sectors. They require us to treat education and skills as the most important investment of our time. And they require urgency - because Africa’s youth cannot wait.
A Call to Action
By 2050, Africa will be home to the world’s largest pool of young talent. The question is whether we will prepare them for the jobs of the future, or fail them into unemployment.
The choice is ours. If we align education with opportunity, scale access to digital and green skills, and invest in pathways that connect talent with work, then Africa’s youth will not only transform this continent - they will drive global prosperity.
The B20 recommendations offer a framework. But what matters is not the words on paper; it is the action we take now. Because when Africa’s youth thrive, the world thrives.
B20 Employment & Education Task Force Recommendations (South Africa 2025)
The B20 Task Force on Employment and Education has set out a framework to future-proof workforces worldwide. Our recommendations include:
Align Skills with Future Jobs: Shift education from rote learning to creativity, adaptability, and innovation.
Green and Digital Skills: Expand training for renewable energy, digital, and AI-driven work.
Lifelong Learning: Scale reskilling and upskilling to help workers adapt to changing labour markets.
Youth Employment: Build pathways for entrepreneurship, apprenticeships, and formal work.
— Women’s Participation: Remove barriers to women’s full economic inclusion.
Public-Private Partnerships: Strengthen collaboration across business, government, and education.
Close the Digital Divide: Invest in infrastructure and affordable access to digital learning.
Inclusive Labour Markets: Promote flexible arrangements and stepping stones from informal to formal work.
Skills Mismatch Index: Develop global data to monitor shortages and track progress.
Together, these recommendations aim to build resilient, adaptable, and inclusive workforces - ensuring Africa’s youth are equipped to thrive in a changing global economy.
A LOOK BACK
The past three years.
To better understand the lasting impact that the B20 process can have, we explore the impact that it has had in recent years. We assess the past three B20 rounds, unpacking what proposals were made, which of these were adopted into G20 policy recommendations and which have subsequently been acted on by G20 nations. Our investigation reveals several key trends, which we outline on a countryby-country basis.
B20 process
Indonesia
B20 Indonesia, with the theme of “advancing innovative, inclusive and collaborative growth”, took place on 13 and 14 November 2022. It focused on three priorities: accelerating the green transition, promoting inclusive growth and ensuring equitable access to healthcare.
The agenda also emphasised innovation for post-crisis growth, empowering vulnerable groups with a special focus on micro, small and medium sized enterprises (MSMEs) and fostering collaboration between developing and developed countries. To create a lasting impact, B20 Indonesia launched four legacy programmes: Carbon Centre of Excellence, B20Wiki, One Global Women Empowerment and the Global One-Shot Campaign. These initiatives aimed to extend the influence of B20 Indonesia’s presidency well beyond its term.
The 2022 G20 Summit in Bali was the first since Russia’s invasion of Ukraine and unfolded amid significant geopolitical tensions, particularly between Western countries and the Brics nations. These divisions threatened the summit’s ability to reach consensus, as evidenced by the failure of most ministerial meetings beforehand to issue joint communiqués. Russian president Vladimir Putin did not attend the summit as a result of these tensions. He was represented by foreign minister Sergey Lavrov, while Ukranian President Volodymyr Zelensky participated by video-conference (Delivorias, 2022). There were many questions regarding the G20’s effectiveness, with European Council President Charles Michel describing it as one of the most challenging G20 gatherings in history.
The meeting also took place during a period of global economic slowdown, marked by soaring inflation, disrupted supply chains, high energy prices, the ongoing Covid-19 pandemic and the pressing challenges of climate change, which all weighed heavily on the world economy. Given this tense backdrop, the summit provided an important platform to demonstrate the G20’s continued relevance and commitment to multilateral cooperation.
Indonesia hosted the 17th G20 Summit, with the Indonesian Chamber of Commerce and Industry (KADIN Indonesia) acting as the host organisation for the B20, with the chair being Shinta Kamdani, CEO of Sintesa Group. The B20 Indonesia presidency officially began with an inception meeting in January 2022 and concluded with the final summit in November 2022 in Bali, with a series of virtual events taking place in between. The B20 presidency was guided by an advisory board of prominent Indonesian CEOs and supported by an international advocacy caucus made up of high-level CEOs from other G20 countries. To translate its strategic vision into actionable policy recommendations, B20 Indonesia operated through six task forces:
Trade & investment recommendations included promoting open, fair and inclusive trade, supporting innovation and digital adoption in global value chains, fostering MSME participation and leveraging trade and investment as drivers for green growth aligned with SDGs.
The energy, sustainability & climate task force prioritised accelerating the green energy transition by reducing carbon intensity through multiple pathways, ensuring a just and affordable energy transition across developed and developing countries and enhancing consumer access to clean, modern energy.
Digitalisation was a major focus, with calls to drive universal connectivity, build resilient digital economies, foster digital readiness for individuals and especially MSMEs, and promote interoperable, evidence-based cybersecurity standards.
Finance & infrastructure advocated for improved access to affordable financing for infrastructure, international cooperation for a just net-zero transition, accelerated development of digital and smart infrastructure and better balanced financial regulations for growth and stability.
The future of work & education taskforce advocated accelerating job creation aligned with future economy sectors, upgrading education and lifelong learning to meet evolving labour market needs and promoting inclusion among vulnerable groups.
For integrity & compliance, the B20 pushed for sustainable business practices guided by ESG principles, collective action to mitigate integrity risks such as money laundering and cybercrime, and strengthening cybersecurity governance.
The women in business action council recommended the empowerment of women entrepreneurs, enhancing digital and leadership skills for women and promoting safe, equitable workplaces free from gender-based violence.
Each task force within the B20 Indonesia was spearheaded by a prominent Indonesian CEO, who worked alongside co-chairs from other G20 nations, creating a diverse leadership team. Each group consisted of approximately 100 members, bringing together experts and stakeholders from different parts of the world to collaboratively address critical global economic issues.
In light of the unprecedented challenges posed by the Covid-19 pandemic and the ongoing climate crisis, B20 Indonesia placed a strong emphasis on collaborative problem-solving strategies. A key focus was to enhance women’s participation and leadership in business sectors, a commitment that builds upon the foundational principles established in previous B20 cycles. This dedication to fostering gender diversity and empowering women economically was a significant aspect of the B20’s mission (B20 Indonesia, 2022b).
The B20 initiative was further strengthened through strategic partnerships with various international business organisations, referred to as “network partners”, and leading global consulting firms, designated as “knowledge partners” (Siaran 2022). These collaborations helped to enhance the depth and breadth of insights provided during discussions and initiatives.
Operational management of the B20 Indonesia was conducted by the secretariat, with experts from KADIN Indonesia ensuring that all activities were closely aligned with the overarching goals of the G20 agenda. Throughout its presidency in 2022, B20 Indonesia actively participated in numerous international forums and events, engaging with G20 leaders and fostering discussions with global business communities and key interest groups. This communication and collaboration ensured that the voices of diverse stakeholders were heard in addressing the world’s pressing economic challenges.
B20 proposals
B20 Indonesia put forward 25 policy recommendations* and 68 actionable measures for G20 governments, focusing on three transformative breakthroughs to foster resilient, equitable and sustainable economies (B20 Indonesia, 2022b):
1.
Innovation as a catalyst for post-crisis growth
To unlock new economic opportunities, B20 Indonesia emphasised:
Digital transformation: Expanding access to digital tools and infrastructure to bridge gaps across economies, ensuring SMEs and marginalised communities can participate in the digital economy.
Cybersecurity cooperation: Strengthening global frameworks to combat cybercrime, safeguarding cross-border digital trade and data flows.
Green infrastructure financing: Scaling blended finance mechanisms to accelerate investments in renewable energy, sustainable transport and climate-resilient projects.
2.
Empowering MSMEs and vulnerable groups for equitable recovery
Recognising that MSMEs and disadvantaged populations are key drivers of economic resilience, the recommendations called for:
Green transition support: Equipping MSMEs with tools for decarbonisation, energy efficiency and access to green financing to align with net-zero goals.
Entrepreneurship & job creation: Fostering innovation hubs, upskilling programmes and inclusive financial systems to spur local economic growth.
Gender & rural inclusion: Targeted support for women-led businesses and informal workers in rural areas, ensuring they benefit from digital and financial inclusion initiatives.
3.
Strengthening global collaboration for crisis resilience
To mitigate future shocks, B20 Indonesia advocated for:
Health emergency preparedness: Establishing stronger global health protocols, vaccine equity frameworks and pandemic response systems.
Supply chain robustness: Promoting diversified and sustainable supply chains to reduce vulnerabilities to geopolitical and climate disruptions.
— Developed-developing nation partnerships: Enhancing knowledge-sharing, technology transfer and financing mechanisms to close global resilience gaps.
These priorities are underpinned by four foundational themes:
Accelerating the green transition: Scaling renewable energy adoption and carbon pricing mechanisms and advancing circular economy models to reduce waste and emissions.
Advancing inclusive growth: Expanding digital and financial access for underserved communities and prioritising women’s economic empowerment and youth employment.
Ensuring equitable healthcare access: Strengthening primary healthcare systems and pandemic surveillance and promoting affordable medicines and universal health coverage.
Fostering global crisis resilience: Enhancing multilateral cooperation on food, energy and climate security and building adaptive infrastructure to withstand future shocks.
The recommendations touched on private sector painpoints, with tech firms wanting digital trade rules and banks pushing for blended finance. They also reflected the country priorities, where Indonesia leveraged the B20 to spotlight its challenges with the transition and MSMEs, while reflecting the global crises of postCovid inequality and climate change.
G20 recommendations
All G20 deliverables from working groups and ministerial meetings under Indonesia’s presidency were unified by a clear objective: to drive the implementation of the 2030 Agenda for Sustainable Development. They were particularly focused on accelerating progress towards the Sustainable Development Goals (SDGs). Indonesia’s G20 leadership supported several global frameworks, including the Addis Ababa Action Agenda (AAAA), the Paris Agreement, the United Nations Framework Convention on Climate Change (UNFCCC) and the Convention on Biological Diversity. These commitments underscored the G20 leadership’s determination to achieve sustainable and inclusive development.
There was strong alignment and significant progress in health preparedness and women’s entrepreneurship, exemplified by concrete achievements such as the establishment of the Pandemic Fund. While digital and green finance objectives were recognised, they fell short of binding commitments. Meanwhile, important areas like supply chain resilience and decarbonisation efforts for MSMEs received less attention and lacked actionable commitments.
The Indonesia G20 presidency laid out three priorities, under the overarching theme of Recover Together, Recover Stronger. In each case, there is evidence of B20 proposals being taken into account to varying degrees:
1. Global health architecture
While not explicitly detailed in every B20 pillar, the B20’s emphasis on crisis preparedness, resilient infrastructure and inclusive recovery under the future of work and broader sustainability themes supports strengthening global health systems.
By establishing coordinated and sustainable funding mechanisms and strengthening inclusive multilateral cooperation, the G20 and its partners sought to lay the foundation for a more resilient and equitable global health system. These efforts enhance collective capacity to prevent, detect and respond to future health threats, ultimately reinforcing global stability and well-being.
2. Sustainable energy transition
The B20 called for practical steps to accelerate the green transition, including scaling up investment in green infrastructure through blended finance, supporting MSMEs in decarbonising and fostering innovation in clean technologies. These priorities were reflected in the G20’s Bali Compact, led by Indonesia, which promoted a whole-of-government approach to clean, affordable energy transitions and international cooperation on technology transfer and financing.
While the G20’s voluntary stance and slow progress on fossil fuel subsidy reform signal a cautious embrace of the B20’s green agenda, key elements of the B20 proposals were clearly taken up. These included reducing carbon intensity, ensuring a just and affordable energy transition and expanding access to clean, modern energy. These themes were strongly echoed in the G20 Bali Leaders’ Declaration and related communiqués, which emphasised renewables investment, support for voluntary carbon markets and the creation of the B20 Carbon Centre of Excellence as a legacy initiative.
3. Digital transformation
B20 Indonesia prioritised unlocking digital opportunities, strengthening cooperation on cybersecurity and enabling MSMEs through digital inclusion and access to innovative financial services. These priorities were mirrored in the G20 digital economy ministers’ meeting, which emphasised digital skills, literacy, crossborder data flows and frameworks to support digital financial inclusion for MSMEs – all aligned with the B20’s recommendations.
Despite geopolitical tensions limiting consensus on formal declarations, there was substantive agreement on digital transformation. This reflects the G20’s broad alignment with the B20 agenda.
Indonesia’s G20 presidency meaningfully integrated business-led priorities across key domains, including global health, sustainable energy and the digital economy – reinforcing the goal of sustainable, inclusive growth in line with the 2030 Agenda for Sustainable Development.
Legacy initiatives
B20 Indonesia launched several legacy programmes:
Financial Intermediary Fund (FIF) for Pandemic Prevention, Preparedness and Response
At the G20 summit, member countries collectively represent a significant share of the global economy and population, underscoring their influence in shaping international initiatives such as the FIF for Pandemic Prevention, Preparedness and Response. Endorsed by the G20 and hosted by the World Bank, the FIF was approved in June 2022 and officially established in September 2022 as a new multilateral financing platform dedicated to mobilising and channeling additional resources to countries and regions with the greatest needs. Designed to complement existing global health financing mechanisms, the FIF emphasises equity, coherence and cooperation among diverse stakeholders to bridge financing gaps and enhance capacity building. This initiative received strong multilateral backing, notably exemplified by the European Union convening a key donor pledging event in Brussels in July 2022, which further consolidated international support.
Despite these substantial institutional innovations exemplified by the FIF, ongoing reforms to global health governance aim to reduce fragmentation and inefficiencies within global health actors to better align with country priorities. However, persistent challenges remain, especially highlighted by recent global funding constraints in 2025 from some major donors. These issues reveal systemic vulnerabilities in sustaining global health financing and readiness, underscoring that while significant progress has been made, there is an urgent need for stronger, more resilient, and anticipatory global health cooperation to ensure sustainable pandemic preparedness and response.
Carbon Centre of Excellence
To accelerate the green transition, B20 Indonesia called on G20 governments to endorse the B20 legacy initiative: the Carbon Centre of Excellence (CoE). This platform aims to empower businesses by facilitating the growth of carbon trading through a comprehensive carbon knowledge repository and a best-practice sharing hub. The CoE aligns closely with recommendations from the B20 Indonesia task force on promoting cross-border cooperation in voluntary carbon markets, as advocated by both the trade and investment task force and the energy, sustainability and climate task force. These efforts collectively support the overarching objective of achieving a net-zero future.
Moreover, the integrity and compliance task force’s emphasis on establishing robust governance frameworks is critical to enhancing transparency and credibility within carbon trading mechanisms, thereby fostering market integrity and stakeholder confidence. To ensure a reliable supply of carbon credits, the finance and infrastructure task force highlights the imperative for governments and private sector actors to invest in bankable green projects and sustainable infrastructure, which underpin the development of scalable and verifiable carbon assets. The B20 Carbon CoE is structured around two core features:
1.
Knowledge hub: A curated online repository designed for carbon market participants, including credit buyers, sellers and investors, that provides accessible, tailored information to help users of varying expertise levels understand and navigate the complexities of carbon trading.
2.
Practice-sharing centre: A hybrid platform combining online knowledge exchange with offline seminars, enabling countries and companies to share success stories and best practices. This forum fosters the convergence of diverse perspectives and practical insights to accelerate carbon market development.
BloombergNEF, in partnership with the Indonesian Chamber of Commerce and Industry (KADIN Indonesia), serves as the managing partner of the Carbon CoE, ensuring the sustainability of this legacy and facilitating ongoing cross-country collaboration beyond Indonesia’s G20 presidency. Furthermore, the Carbon CoE benefits from the support and contributions of leading global industry players and multinational organisations as contributing and supporting partners, reinforcing its role as a catalyst for international cooperation.
As of mid-2025, the CoE initiative remains a highlighted priority within the G20 sustainable finance agenda, now under South Africa’s G20 Presidency.
Wiki
To empower MSMEs, B20 Indonesia urged G20 countries to support the B20 Wiki, a platform designed to accelerate the growth of next-generation mid-sized companies and integrate them into the global supply chain.
Built on an inclusive closed-loop model championed by the trade and investment task force, the B20 Wiki provides MSMEs with a comprehensive support ecosystem addressing every stage of their supply chains. This includes access to raw materials, financial resources and regulatory guidance facilitated by governments.
More than 30 companies committed as contributors to realise this inclusive closed-loop model within the B20 Wiki framework. The platform is designed to equip small enterprises with the capabilities necessary to scale up to medium-sized businesses. This scaling is supported by cross-border collaboration, such as enhanced export market access across G20 member countries, and enabled by digital transformation initiatives.
The B20 Wiki comprises three key features:
1.
Wiki learn: An online platform that enables collaborators to share knowledge and allows companies to showcase their products and services to support MSMEs effectively.
2.
Wiki DO (digital & operational technology): A hybrid platform combining online resources with offline centres designed to assist manufacturing MSMEs in adopting digital technologies. It offers a curated ecosystem of technology providers and business sponsors to develop MSMEs’ Industry 4.0 capabilities and guide them through their digital transformation journey.
3.
Wiki Scale: An online portal that connects MSMEs with major corporations to become part of their supplier networks. This portal also facilitates import and export activities among G20 countries, enhancing cross-border trade opportunities for MSMEs.
This initiative is complemented by outputs from the B20 Indonesia Task Force, including the incorporation of a digital use case library from the digitalisation task force as part of Wiki Learn. The programme is led by KADIN Indonesia as the programme owner, with the Japan External Trade Organisation (Jetro) as a core partner and PT Telkom Indonesia (Persero) Tbk serving as the knowledge partner.
The minimum viable product (MVP) of the B20 Wiki launched during the Bali B20 Summit.
While the original Indonesian-hosted digital platform has evolved, elements of the B20 Wiki’s content and objectives have been integrated into broader G20-related MSME support initiatives and digital transformation programmes under successive presidencies (notably India 2023 and South Africa 2025). These include enhanced efforts to digitalise MSMEs, improve access to finance and bolster supply chain participation.
One Global Women Empowerment
B20 Indonesia called on G20 countries to support the One Global Women Empowerment (OGWE) B20 legacy programme, a global platform designed to consolidate existing capacities and networks to accelerate and scale impactful women’s empowerment initiatives worldwide.
Key stakeholders, including governments, businesses, investors, philanthropies, civil society organisations and service providers, collaborated within this platform to deliver digital tools, facilitate knowledge sharing, mobilise funding and investments, provide technical assistance and promote enabling policies that advance women’s participation in business across the global economy.
The OGWE is a pivotal mechanism to realise the Women in Business Action Council’s vision of achieving equal economic participation for women globally. This effort was further supported by policy recommendations from the future of work and education task force, which emphasised fostering entrepreneurship, upgrading education and digital skills and accelerating workforce inclusion through targeted women’s empowerment strategies.
Operationally, the OGWE platform is managed by a dedicated secretariat and technologically enabled to offer five core services:
1.
Crowdsource: A collaborative space for stakeholders to share and promote innovative ideas and successful policies, fostering crossmarket and regional cooperation to scale women’s empowerment initiatives.
2.
Crowdfund: A platform connecting investors with programme owners, enabling targeted financial support for women-led projects. This creates vital opportunities for female entrepreneurs to secure funding needed to expand their businesses.
3.
Curate: A comprehensive, easily accessible repository of training programmes focused on leadership and skills development. This “one-stop shop” serves as a reference library for stakeholders seeking to enhance women’s capabilities.
4.
Clarify: A practical tool that helps women effectively navigate local laws, regulations and support programmes, facilitating career and business growth both domestically and across borders.
5.
Curate: A dedicated channel to inform stakeholders and the public about OGWE’s initiatives, progress and impact, ensuring transparency and broad engagement.
The permanent secretariat of the OGWE platform is hosted by the International Organisation of Employers (IOE), with support from KADIN Indonesia. Governance of the platform is jointly managed by a steering committee and an advisory board, which will oversee operations across the five core functional areas while ensuring inclusive representation in decision-making processes.
OGWE is designed to serve as a sustained bridge for advancing women’s economic empowerment between successive G20 and B20 presidencies, facilitating the seamless continuation of initiatives from Indonesia to India, Brazil and beyond.
To date (as of 2025), OGWE has secured commitments from more than 25 signatory organisations, including private sector companies, international organisations and professional services firms. All pledged to actively contribute to the platform’s operations and on-the-ground delivery of its services.
Global One Shot Campaign
To enhance future pandemic preparedness, promote equitable vaccine access and unlock the potential of preventive healthcare, B20 Indonesia called on G20 countries and industries to support the B20 Legacy Programme: Global One Shot Campaign. This initiative was to unite leaders from governments, industries and global health organisations to leverage next-generation vaccines and injectable therapeutics.
The campaign focused on expanding manufacturing and clinical research capacities, supported by robust digital infrastructure, to strengthen health system resilience and readiness for future pandemics. The Global One Shot Campaign aligned with the Trade and Investment Task Force’s priority of building global economic resilience and mitigating future health crises through coordinated action.
Key initiatives included:
1.
Supporting a life-course approach to immunisation, ensuring vaccine access and affordability for priority populations, particularly in low-income countries.
2.
Advocating for clinical trials in the Global South, identifying partners to conduct and implement adult vaccine trials across diverse communities to accelerate rollout and adoption.
The Global One Shot Campaign is led by the Global Health Security Consortium (GHSC), with support from KADIN Indonesia. The programme is currently collaborating with industry stakeholders to develop a shared strategy to improve vaccine equity and access throughout the Global South.
G20 country action
Examples of G20 countries that have taken policy actions aligned with the Indonesia B20 2022 proposals:
Indonesia: As the host of the 2022 G20 presidency and the B20 chair, Indonesia led efforts to accelerate the green transition, promote digital transformation and support MSME inclusion. Key initiatives included introducing blended finance mechanisms to fund green infrastructure and expanding digital access for MSMEs and women-led businesses. Legacy programmes like the Global Carbon Centre of Excellence and One Global Women Empowerment (OGWE) platform continue to support these priorities.
India: Serving as the 2023 G20 presidency country, India has supported continuity of Indonesia’s B20 initiatives, especially on just energy transition and sustainable development finance, aligned with the Bali Roadmap and Compact. India also advances digital infrastructure improvements and MSME integration in global value chains, consistent with Indonesia B20 recommendations.
Table 4: B20 Indonesia recommendations, G20 adoption
EU: Many EU member states have responded to Indonesia B20’s calls by promoting sustainable finance frameworks, digital trade facilitation and MSME support programmes. The EU’s backing of blended finance approaches and digital adoption in customs align with the 2022 B20 priorities.
US: The US has engaged in expanding digital economy cooperation and sustainable infrastructure finance initiatives, reflecting elements of the B20 Indonesia agenda. There is a focus on fostering MSME participation in global trade and broadband access programmes to address digital divides.
South Africa: As part of the G20 troika along with Indonesia and India, South Africa promotes inclusive growth and green transition policies that echo Indonesia B20’s emphasis on climate finance and MSME empowerment. South Africa continues legacy engagement on digital transformation and female entrepreneurship.
collaboration between developed and developing countries
Launching legacy programmes such as the Carbon Centre of Excellence
support for carbon markets and knowledge sharing
Expanding digital infrastructure and cybercrime response G20 initiatives on digital public goods and cybersecurity
Advancing blended finance for green infrastructure
Supporting MSME scale-up and global supply chain participation G20
India
India’s B20 Summit, held from August 25-27, 2023 in New Delhi, brought together global policymakers, business leaders and experts to formulate the B20 India Communique consisting of 54 recommendations and 172 policy actions for the G20. The summit’s theme, R.A.I.S.E. (Responsible, Accelerated, Innovative, Sustainable and Equitable businesses), reflected India’s vision for inclusive and forwardlooking economic growth, (B20 India, 2023).
The summit set the future trajectory for the participating leader, through the joint statement delivered at the end of the summit, in which the members forged a consensus on the language of the contentious Ukraine issue, reaffirming that the G20 is not the platform to resolve geopolitical issues.
India’s G20 presidency operated under the philosophy of Vasudhaiva Kutumbakam (“One Earth, One Family, One Future”), and promoted global cooperation for sustainable development, digital innovation and equitable growth, focusing on certain key themes:
Inclusiveness alongside Innovation: While the ‘I’ in R.A.I.S.E. officially stands for Innovation, Prime Minister Narendra Modi emphasised the equally important ‘I’ for Inclusiveness. This inclusive approach extends to global cooperation, notably by advocating for the African Union’s permanent G20 membership and focusing on Africa’s economic development.
Responsible: Emphasises environmental, social and governance (ESG) frameworks; the B20 calls for universal ESG standards, resilient supply chains and ethical business practices to foster sustainability and disaster preparedness.
Accelerated: The summit urged the G20 to enhance sustainable finance, support MSMEs through credit and market access, build inclusive and resilient global value chains and promote digital trade and financial inclusion, especially for underserved groups like women and youth across the Global South.
Innovative: B20 highlighted digital transformation as a key driver, recommending unified digital literacy standards, cybersecurity cooperation and fostering technology, research and development and start-ups to address global challenges including food and water security.
Sustainable: Addressing climate change, B20 advocated for accelerated net-zero transitions, mobilising private sector investments, reforming multilateral development banks to support energy transitions and ensuring a just, inclusive approach to climate action that safeguards employment and biodiversity.
Equitable: The summit focused on future skills development, proposing a universal labour information system to facilitate global workforce mobility and data governance. Economic integration of Africa was emphasised through human capital development, trade facilitation and connectivity.
B20 process
The B20 process was led by industry leaders and supported by the Confederation of Indian Industry (CII), working through seven task forces and two action councils:
Inclusive global value chains (GVCs): The aim was to foster resilient and sustainable trade and investment by promoting inclusion of least developed countries (LDCs), MSMEs, women and youth. Recommendations included developing technologyenabled early warning systems for trade disruptions and improving infrastructure and digital literacy to facilitate participation in global value chains.
Future of work, skilling and mobility: Addressed evolving labour demands and workforce inclusion by emphasising upskilling and reskilling, particularly digital skills. Proposals include policies to support labour mobility and public-private partnerships for continuous vocational training, aligned to future job markets.
Digital transformation: Focused on bridging digital divides and promoting universal, inclusive digital connectivity, alongside cybersecurity. Recommendations called for rolling out digital public infrastructure, harmonising cybersecurity standards, supporting fintech inclusion, especially for MSMEs and marginalised groups and enabling secure cross-border data flow.
Financing for economic recovery: Prioritised mobilising sustainable investments, enhancing MSME access to finance and innovative mechanisms like green bonds and blended finance. It also proposes establishing a Global SDG Acceleration Fund for financing global public goods in climate, energy and biodiversity.
Financial inclusion: Targeted gender-inclusive finance, reducing borrowing costs and building interoperable digital public financial infrastructure to increase access to credit and financial services for underserved groups.
Energy, climate change and resource efficiency: Emphasised a just and accelerated net-zero transition through international cooperation on carbon markets, green finance instruments, ESGaligned investments and support for decarbonising MSMEs and developing countries.
Technology, innovation and R&D: Advocated for collaborative innovation ecosystems linking business, academia and government, facilitating technology transfer and clean tech diffusion and harmonising standards for emerging technologies.
Action council: Recommendations included promoting universally adaptable ESG reporting standards to enhance transparency and comparability and strengthening business resilience via sustainable practices aligning with ESG principles.
African economic integration: Supported Africa’s economic development and integration through capacity building, infrastructure investments, trade facilitation and sustainable financing.
B20 proposals
B20 India’s key recommendations* focused on promoting digital transformation by enhancing interoperability and building digital trust; advancing climate action through net-zero transitions, harmonised ESG standards and carbon market cooperation; strengthening global value chains and trade facilitation, including efforts to integrate Africa more deeply into global markets; expanding sustainable finance with targeted support for decarbonisation in the Global South; and enriching human capital by fostering skilling and innovation ecosystems.
Promote digital transformation, interoperability and digital trust. B20 India strongly advocated accelerating the digital revolution to boost resilience and inclusivity in the global economy. This included:
Expanding universal and affordable connectivity to close digital divides, especially for underserved populations and MSMEs.
Promoting interoperability of digital systems and crossborder digital trade facilitation to streamline global value chains.
Building digital trust through harmonised cybersecurity standards, robust data privacy and safeguarded digital public infrastructure.
Supporting enterprise transformation of MSMEs with global toolkits and digital financial inclusion mechanisms.
These measures aimed to foster a secure, accessible and innovative digital ecosystem across the G20 countries.
Advance climate action: net-zero transitions, ESG standards, carbon market harmonisation. Climate action was a top priority with B20 pushing for:
Accelerated transitions towards net-zero emissions through clean energy, circular economy and just transition frameworks.
Enhanced mobilisation of sustainable finance for climate and energy-related infrastructure, particularly supporting developing countries.
Adoption of universal ESG frameworks to ensure transparency, responsible governance and resilience in business operations.
—
Harmonising carbon markets and supporting initiatives like the Carbon Centre of Excellence to facilitate credible carbon trading.
These efforts collectively aimed to drive measurable impacts in combating climate change while integrating economic growth and equity.
Strengthen GVCs and trade facilitation, including Africa’s integration. The B20 emphasised building resilient, inclusive and sustainable global value chains by:
Promoting open, fair and inclusive trade governance with a focus on technology-led trade and reducing barriers.
Facilitating digital trade processes such as customs clearance through digitisation and cross-border electronic document flows.
Supporting Africa’s economic integration by enhancing infrastructure, trade facilitation, MSME participation and resource mobilisation.
This supported diversification, risk mitigation and greater participation of marginalised regions and groups in the global economy.
Expand sustainable finance and decarbonisation support for the Global South. B20 India called for:
Innovative and collaborative approaches to mobilise affordable finance at scale for SDG investments.
Capacity building for financial sectors in developing economies to access climate, digital and infrastructure finance.
Promoting sustainable investment frameworks that account for social, environmental and governance goals.
This was essential for enabling Global South countries to pursue decarbonisation while ensuring inclusive economic growth.
Enrich human capital through skilling and innovation ecosystems. The B20 argued that human capital development is crucial for future economic leadership and advocated for:
Accelerating workforce skilling, lifelong learning and reskilling initiatives aligned with digital and green transitions.
Promoting innovation ecosystems including R&D collaboration, Industry 4.0 adoption and support for startups, particularly women-led enterprises. Fostering inclusive employment by promoting gender equality and the inclusion of vulnerable groups.
These efforts ensured that the workforce is prepared for evolving economic and technological demands.
*The full recommendations using the above as a base can be found in the Annex of this report.
G20 recommendations
Within the complex geopolitical context of the time, the G20 priorities were organised into six thematic segments, with a primary emphasis on reducing greenhouse gas emissions, mobilising climate finance and advancing the Lifestyle for Environment (LiFE) initiative.
India’s G20 priorities focused on advancing green development, scaling up climate finance and promoting sustainable livelihoods, alongside fostering accelerated, inclusive and resilient economic growth. Key emphasis was placed on accelerating progress towards the SDGs, particularly in health and education, while driving technological transformation supported by robust digital public infrastructure.
India also highlighted the need to reform and strengthen multilateral institutions to suit 21st-century challenges, including coordinated efforts on the critical “3Fs” (food, fuel and fertilisers) and championing women-led development.
Key themes of the New Delhi Leaders’ Summit Declaration:
1.
Strong, sustainable, balanced and inclusive growth: emphasises the need for well-coordinated macroeconomic and structural policies to promote strong, sustainable, balanced and inclusive growth amid ongoing global challenges. It highlights protecting vulnerable populations, supporting private sectorled transformation, enhancing trade through a fair multilateral system and fostering innovation in start-ups and MSMEs. Policymakers commit to agility, cooperation and financial stability to ensure equitable growth while advancing the 2030 Sustainable Development Agenda.
2.
Accelerating progress on sustainable development goals (SDGs): The G20 commits to leveraging its influence to accelerate SDG implementation through collective action, digital transformation and sustainable financing, especially supporting developing countries. Key focus areas include enhancing food security and nutrition through innovations and fair trade, strengthening global health systems with an emphasis on pandemic preparedness and equitable access to medical resources, fostering collaboration between finance and health sectors for better pandemic response and delivering inclusive, quality education and lifelong learning. Additionally, the declaration recognises culture as a vital transformative force for sustainable development, calling for its protection and promotion as part of future agendas. Overall, it underscores a comprehensive, multi-sectoral approach to reinvigorate efforts to achieve the 2030 Agenda in a timely and inclusive manner.
3.
Green development pact for sustainable future: emphasises accelerating actions to meet the Paris Agreement goals, particularly limiting global warming to 1.5°C through deep emissions cuts, enhanced climate finance, technology transfer and national pathways aligned with equity and development needs. The pact stresses managing macroeconomic risks linked to climate change and transition policies and promotes sustainable lifestyles, circular economy principles and clean, affordable and inclusive energy transitions.
It highlights the importance of conserving ecosystems, biodiversity, oceans and ending plastic pollution while advancing sustainable financing for resilient cities and infrastructure. The G20 also commits to strengthening disaster risk reduction and resilience through international cooperation, early warning systems and capacity building, especially supporting vulnerable countries. Overall, this comprehensive approach integrates climate action, environmental protection, sustainable finance, and infrastructure resilience toward a sustainable future.
Multilateral institutions for the 21st century: calls for urgent reform and strengthening of global institutions like the UN, MDBs, and IMF to better address today’s challenges. It emphasises increasing the financial capacity and governance voice of developing countries, enhancing MDBs’ ability to mobilise large-scale funding for development and improving debt management through coordinated creditor efforts. The goal is to create more inclusive, effective and accountable multilateral systems that can support sustainable development and financial stability worldwide.
4.
Technological transformation and digital public infrastructure: It emphasises building safe, secure, trusted and interoperable DPI respecting human rights and privacy, with initiatives like the G20 DPI Framework, Global DPI Repository and One Future Alliance supporting capacity building in low and middle-income countries. The declaration stresses fostering a secure digital economy, promoting cyber education and endorsing international regulatory efforts for crypto-assets and Central Bank Digital Currencies (CBDCs). It calls for leveraging digital tools for financial inclusion, agri-tech, digital health and cultural promotion. On artificial intelligence, the focus is on responsible, human-centric deployment aligned with G20 AI Principles, encouraging innovation while safeguarding rights, safety, ethics, transparency and fairness and fostering international cooperation on AI governance.
5.
International taxation: emphasises a strong commitment to implementing a fair and modern global tax system through the two-pillar framework. It calls for finalising key agreements this year,
supporting developing countries with technical assistance and advancing transparency measures like crypto asset reporting and information exchange by 2027. Overall, it focuses on coordinated efforts to improve international tax fairness, transparency and cooperation.
6.
Gender Equality and empowering all all women and girls: It focuses on enhancing women’s full participation in education, employment, leadership and decision-making, including closing labour force participation and pay gaps, eliminating gender-based violence and improving access to financial services. The declaration aims to halve the digital gender divide by 2030 through inclusive digital policies and safety measures. It prioritises integrating gender equality into climate action, ensuring women’s leadership and resilience-building and securing women’s food security and nutrition through sustainable agriculture and health programmes. Lastly, it announces the creation of a dedicated Working Group on the Empowerment of Women to advance these goals.
7.
Financial sector issues: highlights the G20’s strong support for the Financial Stability Board (FSB) and Standard Setting Bodies (SSBs) in addressing systemic vulnerabilities and enhancing the resilience of non-bank financial intermediation (NBFI). It welcomes FSB reports on liquidity mismatches, leverage risks in NBFI and recommendations for money market funds, cyber incident reporting and third-party risk management to bolster operational resilience, especially concerning BigTech and FinTech dependencies. The G20 reaffirms its commitment to advancing the G20 Roadmap for faster, cheaper, more transparent and inclusive cross-border payments by 2027, endorsing innovations like the G20 TechSprint 2023. Additionally, progress is acknowledged on managing financial risks from climate change, updating corporate governance principles to support sustainability and capital market access and promoting sustainable capital flows to strengthen economic resilience.
8.
Countering terrorism and money laundering: condemns all forms of terrorism as serious threats to global peace and security, emphasising that effective counterterrorism measures must respect human rights and be based on international law. It calls for strengthened international cooperation to deny terrorists safe havens and resources and expresses concern about illicit trafficking of small arms and light weapons. The G20 commits to supporting and resourcing the Financial Action Task Force (FATF) and regional
bodies, promoting global implementation of enhanced standards on beneficial ownership transparency, asset recovery and virtual asset regulation to combat money laundering, terrorism financing, and proliferation risks. It also supports FATF efforts to address emerging technologies like decentralised finance and peer-to-peer transactions to strengthen global financial integrity.
9.
Creating a more inclusive world: highlights the G20’s welcome of the African Union as a permanent member, recognising Africa’s vital role in the global economy and committing to support its development through initiatives like Agenda 2063, the G20 Compact with Africa and industrialisation efforts in Africa and least developed countries (LDCs). It reaffirms the commitment to support migrants, including workers and refugees, safeguarding their human rights while addressing irregular migration through international cooperation. The declaration stresses the importance of promoting religious and cultural diversity, tolerance and freedom of belief and expression to combat intolerance and discrimination. Lastly, it emphasises continued integration of developing countries’ perspectives into the G20 agenda to foster a more inclusive global community.
Several B20 recommendations were adopted by the G20, some in full and others partially. Digital Public Infrastructure (DPI), exemplified by initiatives such as India Stack (a digital platform enabling secure, interoperable electronic services across government, business and citizens, including identity, payments and data sharing), was strongly endorsed, highlighting the importance of inclusive digital ecosystems and advocating for “risk-based” approaches to AI regulation. The B20 also championed the launch of the Global Biofuels Alliance, promoting sustainable biofuels as part of broader efforts to triple renewable energy capacity, enhance climate finance and advance the SDGs.
In a significant step towards inclusivity, the African Union’s engagement with the G20 was welcomed, reflecting the work of the Action Council on African Economic Integration. According to the Indian B20 secretariat, approximately 80% of the B20 recommendations were at least partially adopted by the G20, (Government of India, 2023). Key outcomes include the establishment of the Global Biofuels Alliance, the creation of an SDG Acceleration Fund, firm commitments to developing digital public infrastructure and G20 action plans addressing sustainable development and disaster risk reduction.
Table 5: B20 India recommendations, G20 adoption
B20 proposals adopted in full
Digital Public Infrastructure (DPI)
The B20 emphasised the DPI as a vital tool for fostering inclusion, driving economic growth and enhancing transparency, showcasing India Stack as a successful model for adoption by other developing countries. It called for strengthened global cooperation on DPI standards, interoperability and governance, while advocating for risk-based regulatory frameworks for artificial intelligence. Reflecting these priorities, the G20 recognised DPI as a critical enabler of inclusive development, endorsing the G20 Framework for Systems of DPI and highlighting its essential role in achieving the SDGs. The G20 further supported scaling proven DPI models like India Stack and endorsed responsible AI development aligned with the B20’s advocated risk-based approach.
Global Biofuel Alliance & Energy Transition
The B20 advocated for increased global investment in sustainable biofuels, calling for the establishment of a biofuel alliance to promote common standards and foster research and development collaboration. It emphasised the urgent need to triple renewable energy capacity worldwide by 2030 and highlighted the importance of unlocking climate finance alongside mobilising private capital flows to support this transition. Responding to these calls, the G20 launched the Global Biofuel Alliance, led by India, the US, Brazil and other member countries and committed to tripling renewable energy capacity within this timeframe. Furthermore, G20 leaders reaffirmed their dedication to scaling up sustainable finance through mechanisms such as blended finance and enhanced private sector participation.
African Union inclusion in G20
The B20, through its Action Council on African Economic Integration, strongly advocated for a more prominent role for Africa in global governance by recommending the African Union (AU) be granted membership in the G20 to ensure inclusive and representative decision-making. Reflecting this push, at the 2023 G20 Summit in New Delhi, the AU was officially admitted as the 21st permanent member of the G20, elevating the continent’s voice on critical global economic issues and aligning the AU alongside other major global and regional entities such as the European Union. This inclusion marks a significant milestone in enhancing Africa’s participation in shaping the global agenda.
B20 proposals adopted in part
SDG Acceleration Fund
The B20 advocated to establish an SDG Acceleration Fund to effectively address financing gaps in sustainable development, while emphasising the need for comprehensive multilateral development bank (MDB) reforms to enhance lending capacity, lower costs for developing countries and mobilise private capital through innovative financing mechanisms. Additionally, the B20 proposed robust Disaster Risk Reduction (DRR) frameworks and increased climate adaptation financing to strengthen resilience.
In response, the G20 endorsed the creation of the SDG Acceleration Fund, supported by MDBs and philanthropic organisations. It also committed to ambitious MDB reforms and released an outcome document from the G20 Disaster Risk Reduction Working Group, underscoring a coordinated approach to sustainable finance and disaster resilience.
India’s G20 presidency achieved significant consensus on critical global issues while balancing diverse geopolitical interests. The New Delhi Summit addressed the Ukraine conflict diplomatically, upholding national positions without derailing broader cooperation. A landmark achievement was amplifying the Global South’s voice by inducting the AU as a permanent member, ensuring more inclusive representation. The G20 committed to accelerating progress on the SDGs through a dedicated 2023 Action Plan and endorsed India’s LiFE (Lifestyle for Environment) initiative to promote sustainable behaviour. On climate action, leaders agreed to triple renewable energy by 2030, scale up zero/low-emission hydrogen and set an ambitious New Collective Quantified Goal (NCQG) for climate finance beyond $100bn annually, (Falduto et al., 2024).
The summit also prioritised digital transformation, formally defining digital public infrastructure and endorsing its framework to expand affordable services globally. Economic growth was framed through the Green Development Pact, emphasising sustainability and inclusivity. Other key outcomes included advancing women-led development, enhancing global food security (notably through millet promotion) and launching a Digital Health Initiative for universal coverage. Geopolitical concerns were addressed with a strong condemnation of terrorism, while technological governance focused on responsible AI and skills-based migration pathways. Together, these measures reflect a balanced, action-oriented agenda bridging developmental and environmental priorities.
Legacy initiatives
India’s B20 process produced a number of legacy initiatives, many of which are effective in delivering real world impact today:
Disaster risk reduction working group (DRR WG): The DRRWG established six priority areas aligned with the Sendai Framework, covering early warning systems, resilient infrastructure, financing, recovery, nature-based solutions and vulnerability reduction. India hosted three sessions in 2023 (Gandhinagar, Mumbai, Chennai), culminating in G20 members endorsing action points across all six priorities. Under South Africa’s 2025 presidency, the first virtual and subsequent in-person DRRWG meetings were held, retaining the priorities established by previous presidencies.
Startup20 engagement group (SU 20): Intended to build a platform linking start-ups, investors, companies and innovation stakeholders globally. Under South Africa’s leadership, Startup20 continues to function as a vital global platform where start-ups, MSMEs and ecosystem stakeholders can voice their challenges, opportunities and macroeconomic concerns directly to G20 policymakers. Structured around specialised task forces, the initiative focuses on priority areas such as innovation, policy advocacy and cross-border collaboration for early-stage businesses. Through a consensus-driven process, Startup20 South Africa will formulate recommendations to be presented at the 2025 G20 Summit, ensuring entrepreneurial perspectives inform highlevel decision-making.
Chief scientific advisors roundtable (CSAR): Convened for the first time at policy level during India’s presidency in 2023, this was part of the G20 science, technology & innovation (STI) track. South Africa hosted CSAR sessions in April and plans a second in September 2025 under the theme: Equity-based STI for inclusive human development and global sustainability, (South African Government, 2025). These gatherings bring chief science advisers together to align STI policy with global development goals.
G20 conference on crime and security in the age of NFTs, AI and metaverse: The inaugural G20 Conference addressing crime and security challenges posed by emerging technologies like Non-Fungible Tokens (NFTs), AI and the metaverse took place in Gurugram, Haryana on July 13-14, 2023. This landmark event brought together more than 900 attendees, including representatives from G20 nations, delegates from nine specially invited countries, international organisations, technology industry leaders and subject matter experts from India and around the globe for intensive discussions over two days.
New working group on empowerment of women (agreed): The newly agreed-upon G20 working group on women’s empowerment builds on legacy initiatives like the Indonesian B20’s One Global Women Empowerment (OGWE) platform. It aimed to coordinate G20 efforts to promote gender equality. As of 2025, this working group is operational and aligns with the SA presidency’s emphasis on equality and social inclusion. It is strengthening collaboration with engagement groups such as W20 and OGWE to implement policy actions and showcase progress in women’s economic participation.
Cooperation in counternarcotics: G20 counternarcotics cooperation continues as a priority within law enforcement and public health workstreams, focusing on combating illicit drug trafficking, strengthening chemical controls and combating crossborder criminal networks.
Cooperation in traditional medicines: The G20 has increasingly recognised traditional, complementary and alternative medicine as part of holistic health strategies. During recent G20 presidencies
including South Africa’s, there has been a growing push to promote traditional medicines as part of health resilience and biodiversity conservation strategies, especially in developing countries where such systems are widely used.
Millet research initiative: The millet research initiative is a food security and nutrition-focused programme encouraging research, innovation and promotion of millets (small-seeded grasses grown around the world as cereal crops or grains for fodder and human food) as climate-resilient, nutritious and sustainable crops. As of 2025, the initiative is active with ongoing projects in South Asia, Africa and other regions, aligning with G20 goals on food security, climate change mitigation and rural development.
B20 Global Institute: The B20 Global Institute was proposed by B20 India and formally announced during the B20 India Summit as a global, business-focused think tank and knowledge hub headquartered in India. Its purpose is to identify key gaps and challenges faced by businesses worldwide and recommend policy measures to enhance the global environment for trade and investment, particularly focusing on resilient global value chains, digital innovation including AI for social good, sustainability, energy transition and ESG principles. The institute aims to serve as an evangelist, change agent and thought leader by collaborating with think tanks, international organisations and multilateral institutions.
G20 country action
G20 nations initiated actions stemming from the India G20 Summit:
United States: Participated actively in co-hosting investment initiatives in infrastructure and economic corridors, such as the India-Middle East-Europe economic corridor, aimed at boosting trade and sustainable development with partners including Saudi Arabia, UAE and EU nations, (Bora et al., 2025).
European Union (including Germany, France, Italy): The Partnership for Global Infrastructure and Investment was initiated by the EU, US and Indonesia during the Bali G20 summit and reaffirmed in New Delhi 2023; it focuses on economic resilience and inclusive growth.
Saudi Arabia and United Arab Emirates: Key partners in the IMEC (India-Middle East-Europe Economic Corridor) initiative; also engaged in trade facilitation and infrastructure development supporting Africa’s economic integration and sustainable development, aligned with the B20’s emphasis on African economic growth and global value chains.
South Africa: Having taken on the G20 presidency in 2025, South Africa is furthering the agenda on start-up ecosystem development (via the Startup20 group launched in India), as well as women’s empowerment and inclusive growth, highlighted in the B20 India recommendations. South Africa also emphasised equality, sustainability and economic inclusion aligned with prior commitments.
These examples show that G20 members are translating India B20’s policy recommendations into tangible measures across digital transformation, climate action, trade facilitation, start-up support, gender inclusion and sustainable finance. This crosscountry adoption demonstrates the influence and uptake of the India B20’s business-driven agenda into national and regional policies within the G20 framework.
Brazil
Over two days, the B20 Summit Brazil convened delegates from 71 countries in São Paulo, fostering meaningful dialogue and collaboration on global business priorities. With nearly 2,000 participants, 56 expert speakers and 11 panel discussions, the event showcased the strength of global business leadership and the power of collective action.
The host organisation, the Brazilian National Confederation of Industry (CNI), is the foremost representative of Brazil’s industrial sector. It acts as the primary interlocutor with Brazil’s executive, legislative and judicial branches, as well as with numerous domestic and international entities.
The summit’s theme, “inclusive growth for a sustainable future”, provided the overarching framework for B20 Brazil’s efforts. This theme was embodied in five key pillars that constituted the B20 Brazil “guiding claim” and shaped discussions within the task forces and the action council:
— Promote inclusive growth and combat hunger, poverty and inequalities
— Accelerate a fair net zero transition
— Increase productivity through innovation
— Foster resilience of global value chains
— Enhance human capital
B20 process
B20 Brazil established seven task forces and one action council, each concentrating on a specific area aligned with the theme “inclusive growth for a sustainable future” and the five pillars that form the foundation of B20 Brazil’s guiding framework. Brazil’s B20 had seven task forces and an action council listed below:
Trade and investment: Its work focuses on enhancing trade and investment governance by strengthening the multilateral system, streamlining customs procedures and harmonising digital standards to facilitate cross-border transactions. The task force also emphasises improving access to trade finance for least developed countries, MSMEs and women entrepreneurs. Additionally, it supports the adoption of global methodologies for carbon footprint calculations and encourages regulatory cooperation to advance climate-friendly trade policies.
Employment and education: Focuses on addressing disparities in employment and education to foster inclusive and sustainable economic growth. The task force emphasises reducing inequalities by advocating for increased access to quality education, vocational training and lifelong learning opportunities. It also prioritises creating equitable work environments that enhance diversity and inclusion while supporting mental well-being and flexible work arrangements. Ultimately, the task force aims to develop a holistic ecosystem that strengthens human capital and prepares the workforce for evolving industry demands, directly contributing to economic resilience and social mobility.
Digital transformation: This task team advances inclusive and resilient digital ecosystems to drive sustainable economic growth. Its mandate includes modernising regulations and expanding affordable, high-quality ICT infrastructure to connect underserved populations and businesses. The task force emphasises safeguarding digital trust through harmonised cybersecurity and data protection standards, promoting international collaboration on cyber resilience, and facilitating data free flow with trust. Additionally, it advocates for the responsible development and adoption of artificial intelligence, encouraging ethical, sustainable and inclusive AI governance. The task force seeks to empower MSMEs in digital transformation through knowledge hubs, training, and regulatory support, aiming to bridge the digital divide and harness technology as a catalyst for innovation and social inclusion.
Energy transition and climate: Task team is dedicated to driving the transition to a low-carbon, sustainable energy future by promoting renewable energy adoption, enhancing energy efficiency and supporting natural climate solutions. It focuses on accelerating clean energy solutions, including bioenergy, hydrogen and carbon capture, while ensuring energy security and affordability for all regions. The task force advocates for doubling the rate of energy efficiency improvements by 2030 and promoting resource efficiency through circular economy principles. Recognising the critical role of financing, it calls for innovative mechanisms to close the climate finance gap and support investments in net-zero technologies. Emphasising global cooperation, including the development of a robust international carbon market, the task force aims to foster an inclusive and climate-resilient economic growth aligned with the Paris Agreement targets.
Strategic role and voice in global governance
The B20 Brazil 2024 Integrity and Compliance Task Force plays a strategic role in embedding integrity and ethics into business operations and global value chains. Its longstanding mandate is captured in a 2024 policy paper that proposes a tripartite framework of recommendations balancing continuity and innovation:
1.
Encouraging implementation of integrity and anti-corruption measures: The Task Force calls for governments and companies to incentivise robust governance frameworks that integrate integrity with sustainability standards, moving beyond mere compliance to foster responsible business conduct over the long term.
2.
Stimulating collective action: Elevated as one of only three core recommendations, collective action promotes multi-stakeholder collaboration between the public sector, private sector and civil society to strengthen integrity across complex value chains. This approach includes tailored strategies addressing environmental and human rights issues. A key performance indicator – to monitor uptake of collective action – introduces accountability that is unprecedented in B20 history. The establishment of the B20 Collective Action Hub as a legacy project institutionalises tools and knowledge-sharing to sustain momentum beyond the current cycle.
3.
Promoting ethical leadership: The 2024 agenda expands to emphasise ethical leadership as vital for inclusive growth, advocating anti-harassment policies and responsible governance of emerging technologies such as artificial intelligence. Ethical leadership is seen as pivotal in nurturing organisational cultures that champion integrity.
Operationally, the Basel Institute on Governance continues as a network partner, providing decade-long support that enhances the task force’s capacity and legitimacy. The task force also urges governments to strengthen engagement with mechanisms such as integrity pacts and high-level reporting mechanisms to safeguard public procurement and mitigate corruption risks.
These strategic priorities align with global trends toward transparency and ethical accountability, supported by international frameworks such as the UN Global Compact. The B20 Integrity and Compliance Task Force’s 2024 agenda marks a maturation in business-led anti-corruption efforts by embedding ethical leadership, incentivising compliance and fostering cooperative action with public institutions as key drivers to enhance global business integrity in pursuit of inclusive and sustainable growth. Collective Action’s prominence and specificity this year underscore its critical role in combating corruption linked to environmental and human rights challenges, with new monitoring and institutional support reflecting strong commitment to sustained impact.
Finance and Infrastructure: Is focused on accelerating the deployment of private capital to support sustainable and inclusive economic growth, with a strong emphasis on facilitating the transition to a low-carbon economy. It advocates for innovative financing mechanisms to close the climate finance gap, promote investments in green technologies and resilient infrastructure, and improve access to finance for MSMEs. The task force also stresses the importance of modernising regulatory frameworks, enhancing public-private partnerships and streamlining permitting processes to expedite climate-resilient infrastructure projects. Additionally, it supports leveraging digital technologies to improve infrastructure delivery and governance, aiming to build a robust financial ecosystem that drives long-term productivity, sustainability and inclusive growth aligned with the Paris Agreement goals.
Integrity and compliance: The integrity & compliance task force, a seminal component of the B20 process since 2011, re-emerged under the Brazilian presidency as an advocate for advancing business integrity and anti-corruption efforts on the global stage. Notably absent during the Chinese (2016) and Indian presidencies, its 2024 return marked a renewed emphasis on fostering ethical business conduct, underscored by the unique structural relationship it holds as the only B20 Task Force with a direct counterpart in the G20 anti-corruption working group. This connection amplifies its influence and positions it as a key interlocutor between the business community and global policymakers.
Sustainable food systems and agriculture: This team focuses on transforming global food systems towards sustainability, resilience and inclusivity. It promotes scaling advanced, sciencebased and regenerative agricultural technologies to enhance productivity while addressing climate, environmental and food security challenges. It advocates for innovative financing models to support farmers’ transition to resilient practices and to monetise ecosystem services from sustainable agriculture. Additionally, it supports strengthening the rules-based, inclusive and equitable multilateral agricultural trading system, with the WTO playing a central role, to promote sustainable practices and improve global food security. Recognising the complexity of this transformation, the task force calls for coordinated public-private collaboration that acknowledges local particularities and strives for global impact.
Women, diversity and inclusion in business: The Action Council is tasked with this responsibility. It is dedicated to advancing greater gender and diversity representation in the corporate world, emphasising the need to dismantle structural barriers that women and other underrepresented groups face. The council adopts an intersectional approach to diversity and inclusion, focusing on systemic discrimination and promoting equitable access to education, employment, leadership and business opportunities. Its mandate includes developing public policy recommendations to increase participation of underrepresented groups across the labour market and public sector by implementing data-driven strategies, monitoring key performance indicators and fostering inclusive workplaces. The council also advocates for capabilitybuilding programmes and inclusive innovation, especially in technology and AI, as well as for trade facilitation to empower diverse entrepreneurs and MSMEs. Chair Paula Bellizia emphasises that diversity is not only an ethical imperative but also a critical driver of innovation and economic growth, with studies affirming higher financial returns from diverse leadership teams and notable GDP gains from closing gender gaps. Overall, the Action Council seeks to promote equitable, inclusive business ecosystems that benefit economies and societies globally, aligning with G20 priorities for gender equality and social inclusion.
B20 proposals
Brazil’s B20 recommendations* can be categorised into themes:
Combat hunger, poverty and social inequality: This emphasises tackling global hunger and poverty through sustainable food systems, improved agricultural productivity and social inclusion measures. The recommendations stress the importance of supporting vulnerable populations and reducing inequalities by enhancing access to nutrition, education and economic opportunities. Sustainable agriculture methods that increase yield while protecting natural resources were prioritised to ensure longterm food security and rural development. These initiatives also link to empowering women, youth and marginalised communities.
Accelerate net-zero transition and sustainable agriculture: Advocates for accelerating the global net-zero transition by enhancing investments in clean energy, carbon markets and decarbonisation technologies. It has a particular focus on just transitions that balance climate goals with social equity. For agriculture, the recommendations promote sustainable practices that lower carbon footprints, improve soil health, support biodiversity and harness Brazil’s vast potential in renewable bioenergy and forest conservation. Implementating these goals involves scaling up green finance and regulatory frameworks to incentivise carbon reduction and sustainable land use.
Foster global value chain resilience and inclusive trade: In response to disruptions in global trade, B20 Brazil highlights the need to build resilient and diversified global value chains. The aim is to strengthen supply chain robustness against shocks, promote innovation and facilitate trade inclusivity by supporting MSMEs and integrating developing economies, especially in Africa and Latin America. The recommendations call for streamlined customs procedures, digitalisation of trade processes and better infrastructure connectivity to enhance efficiency and equity in global commerce.
Expand access to climate and development finance: Access to finance is essential for achieving sustainable development and climate goals, especially in the Global South. B20 Brazil urges G20 countries to mobilise innovative and blended financing mechanisms that reduce investment risks and increase capital flows for climate projects, infrastructure and social programmes. Strengthening financial capacities, regulatory incentives and international cooperation are emphasised to support both public and private sector investments aligned with net-zero and SDG targets.
Enhance integrity, digitalisation and gender equity in business environments: This emphasises the importance of integrity and compliance to foster transparent, responsible business conduct across supply chains. Digital transformation remains a cross-cutting theme, with the B20 promoting interoperability, cybersecurity and digital trust frameworks that enable business efficiency and inclusion. Gender equity is also prioritised, building on legacy platforms such as OGWE, by promoting women’s entrepreneurship, leadership opportunities and workplace equity measures to bridge gender gaps in economic participation.
*The full recommendations using the above as a base can be found in the Annex of this report.
G20 recommendations
A number of Brazil’s B20 proposals were adopted in full.
G20 Roadmap for Multilateral Development Banks (MDBs)
The G20 endorsed a roadmap that aligns MDBs’ financing strategies with climate and sustainable development goals. This includes improved financing mechanisms, increased capacity building and mobilising private sector investments to support green infrastructure, climate action and resilience. The roadmap directly mirrors B20 Brazil’s recommendations to expand blended finance and innovative investment instruments for sustainable growth.
Food Security and Sustainable Agriculture
Proposals addressing global hunger, poverty and social inequality are fully reflected. The G20 committed to strengthening sustainable food systems by promoting resilient agricultural practices, supporting supply chain integrity and enhancing nutrition initiatives. This aligns with the B20’s push for climate-smart agriculture, food security and rural economic development.
Climate Action and Net-Zero Transition
The G20 adopted measures to accelerate fair and just net-zero transitions, emphasising investments in renewable energy, carbon markets and sustainable land use. The Carbon Centre of Excellence and voluntary carbon market initiatives launched by B20 Indonesia laid a strong foundation for harmonising carbon markets and financing decarbonisation across G20 economies. Continuing this legacy, B20 Brazil committed to accelerating practical climate finance, enhancing transparency and fostering cooperation between businesses and governments to ensure a fair and effective transition to net zero. Additionally, Brazil emphasised the advancement of sustainable energy solutions, supporting natural climate solutions and promoting the development of a global carbon credit market.
Inclusive Finance and Access to Capital
B20’s call for expanded access to finance for underserved populations, especially in developing countries, was embraced. The G20 supported mobilising climate and development finance through de-risking mechanisms, blended finance and improved financial infrastructure to foster equity and inclusion.
Trade Facilitation and Global Value Chains
Strengthening resilience and inclusivity in global value chains, including support for MSMEs and regional economic integration (especially African integration), was fully adopted. The G20 committed to enhancing digital trade facilitation, customs modernisation and reducing trade barriers, reflecting the B20’s advocacy for sustainable and diversified trade.
Integrity, Compliance and Collective Action
The importance of ethical business practices and anti-corruption measures was highlighted, with the G20 endorsing the B20’s push for collective action platforms to enhance integrity across global supply chains. This includes developing tools and KPIs to monitor and promote corporate compliance and transparency.
Digital Transformation and Cybersecurity
Fully adopted recommendations include fostering digital trust, interoperability and inclusion by bridging digital divides and empowering MSMEs through technology. The G20 prioritised cybersecurity and digital governance, consistent with B20 Brazil’s emphasis on building resilient digital economies.
Human Capital and Workforce Development
The G20 fully incorporated themes of workforce skilling, lifelong learning and promoting diversity and inclusion in employment, aligning with the B20’s focus on equitable economic opportunity, gender equity and empowerment in the labour market.
Legacy initiatives
B20 Brazil launched nine new legacy initiatives:
1.
SheLeads B20: A women’s economic empowerment platform to support women entrepreneurs and leaders. It focuses on advancing gender equity in business leadership, digital skills and access to markets and financing. The initiative provides mentorship, networking and capacity building tailored to women-led businesses and seeks to expand global partnerships. B20 South Africa pledged to increase the share of women in leadership positions by at least two percentage points in 2025, using the baseline reported by B20 Brazil.
3.
Women in trade: This initiative was a key legacy of B20 Brazil, marking the first time “women in trade” was a distinct priority within the G20 trade agenda. It assesses challenges faced by women-owned businesses in accessing international markets and promotes policy measures to improve inclusion and participation. In 2024 and 2025, B20 Brazil coordinated workshops and surveys with representatives from G20 countries to identify barriers such as financing gaps, limited market access and regulatory obstacles. The initiative helped lay groundwork for G20 guidelines on increasing women’s participation in trade, with ongoing monitoring to ensure this remains a high-priority agenda within both the B20 and G20 trade frameworks.
3.
B20 Climate Policy Hub: The Climate Policy Hub serves as a knowledge-sharing and policy coordination platform focused on accelerating net-zero targets, sustainable agriculture and green finance initiatives. It supports sharing best practices, innovations and fostering collaborations among G20 businesses and governments. By mid-2025, the Hub will have been instrumental in aligning private sector climate commitments with national policies, advancing the voluntary carbon market through the Carbon Centre of Excellence and promoting just transition frameworks. It continues to collaborate closely with the G20 Energy and Climate Working Groups and is regularly updated with case studies like Brazil’s renewable-auction wins, Nigeria mini-grid finance models and EU carbon-pricing frameworks.
4.
B20 Collective Action Hub: The Collective Action Hub aims to enhance integrity and anti-corruption efforts across global supply chains by promoting transparency, compliance standards and multi-stakeholder partnerships. Following B20 Brazil’s advocacy, the hub supports G20-endorsed collective action initiatives and platforms that encourage business cooperation to combat corruption and increase supply chain traceability. As of 2025, this hub is active in deploying tools, KPIs and joint initiatives with regional and global partners to institutionalise ethical business conduct within the G20 framework.
5.
B20 Carbon Knowledge Hub: This hub acts as an information and coordination platform dedicated to carbon markets, carbon capture and storage (CCS) and decarbonisation technologies. Originating from B20 Brazil’s emphasis on credible carbon pricing and market harmonisation, the Hub disseminates technical knowledge, market updates and policy developments to support investment and implementation of carbon reduction solutions. It collaborates with the Indonesia Carbon Centre of Excellence and other regional entities. In 2025, it remains a vital resource stabilising voluntary carbon markets and supporting G20 ambitions around net-zero pathways.
6.
B20 AI Platform: The AI Platform is oriented towards promoting the adoption of trustworthy, interoperable artificial intelligence across industries represented in the G20 business community. It focuses on digital trust, regulatory harmonisation, ethical AI standards and enhancing MSME digital readiness. As AI gains strategic significance for competitiveness and innovation, the platform facilitates dialogues, training and pilot projects. It works in tandem with G20 digital transformation and cybersecurity initiatives, influencing policy harmonisation and private-public cooperation.
7.
ICC-B20 Global challenge against food loss and waste: This joint initiative addresses food security and sustainability by encouraging innovation and best practices to reduce food loss and waste across supply chains. It mobilises businesses, governments and civil society to promote efficient resource use and circular economy principles in agrifood sectors. The global challenge has fostered partnerships and pilot projects in multiple countries, contributing to G20 commitments on sustainable agriculture and climate mitigation.
8.
Global Alliance Against Hunger and Poverty: The alliance aims to achieve SDGs 1 (ending poverty) and 2 (zero hunger), with 14 UN system entities among its founding members, bringing their extensive expertise in combating hunger and poverty to the initiative.
9.
The global initiative for information integrity on climate change: This initiative focuses on ensuring the accuracy, transparency and credibility of information related to climate action. It counters misinformation, promotes robust data standards and fosters collaboration among stakeholders to support evidencebased policymaking and investment decisions. In 2024-2025, the initiative partnered with climate finance institutions, regulators and businesses to enhance trust in climate-related disclosures and reporting under ESG frameworks and carbon markets, amplifying the impact of G20 climate commitments.
Promote inclusive growth to combat hunger, poverty, and inequality
Accelerate a fair net-zero transition and climate action
Support sustainable agriculture and circular economy
Develop resilient infrastructure and promote sustainable energy
Strengthen global value chains and review restrictive export policies
Foster digital transformation, AI governance and data privacy
Promote gender equality and economic empowerment of women
Create innovative financing models and increase financial capacities
Strengthen ethical governance and business integrity
Launch legacy programmes such as Brazilian Carbon Market and Biofuel Alliance
The G20 Rio Leaders’ Declaration prioritises social inclusion, fight against hunger and poverty, global alliance on hunger
G20 launched the Task Force on Global Mobilisation against Climate Change; support for decarbonisation and carbon markets
G20 emphasised sustainable development practices including circular economy and sustainable agriculture
G20 highlighted need for resilient infrastructure investments aligned with sustainability goals
G20 called for resilient, inclusive global supply chains and reviewed trade barriers especially post-pandemic
G20 endorsed digital training, AI regulation frameworks, digital public goods for inclusion
G20 Rio Declaration reaffirmed commitments to gender equality and women’s economic participation
G20 encouraged mobilising financing mechanisms especially for developing economies and sustainable investment
G20 supported ethics, anti-corruption frameworks and transparency initiatives
G20 recognized the Brazilian Carbon Market and biofuel initiatives as key legacy programmes for sustainability
G20 country action
Several G20 countries have taken policy actions aligned with the Brazil B20’s 2024 recommendations, illustrating how the business-led priorities are reflected in concrete national and regional initiatives as of mid-2025:
Brazil: Actively pushed for reforms in sustainable food systems, climate action, digital transformation, trade facilitation and inclusive finance, championing the implementation of B20 proposals domestically and internationally.
India: Continued its leadership momentum from the 2023 G20/B20 presidency by implementing policies to boost digital infrastructure, sustainable development and climate action, consistent with B20 India recommendations. India also supports multilateral development bank reforms urged by B20 Brazil and participates in joint financing and trade facilitation initiatives.
South Africa: Leading the G20 presidency in 2025, South Africa builds on the B20’s start-up ecosystem support, gender equality platforms like OGWE and inclusive growth proposals from both India and Brazil. South Africa promotes wide adoption of these policies focusing on economic inclusion, sustainability and digital equity, aligned with B20 Brazil’s social inequality and digital transformation themes.
European Union (including France, Germany, Italy): The EU has contributed to advancing sustainable finance and climate commitments, such as green investment frameworks and carbon market development, as recommended by B20 Brazil. Additionally, the EU supports trade facilitation, digital trust and connectivity initiatives that harmonise with B20 goals.
United States: The US collaborates extensively on infrastructure and investment corridors like the India-Middle East-Europe Economic Corridor, expanding trade opportunities and sustainable development consistent with B20 Brazil’s emphasis on resilient global value chains and infrastructure finance.
Saudi Arabia and United Arab Emirates: These countries are active in the trade facilitation and infrastructure development efforts, supporting African economic integration and sustainable growth, which align closely with the B20 Brazil’s agenda on global value chains and regional inclusiveness.
These countries exemplify how the B20 Brazil recommendations have influenced G20 policy actions in diverse areas, such as sustainable agriculture, climate finance, digital economy, trade facilitation, gender equity and anti-corruption, demonstrating broad adoption and collaborative efforts across the G20 membership.
Turning Dialogue into Opportunity: The Sanlam ESG Barometer B20 Special Impact Report
By Abel Sakhau, Chief Sustainability Officer at Sanlam Group
As South Africa hosts the 2025 G20 Summit we are witnessing a historic inflection point for Africa’s voice in global economic governance. The G20 represents nearly two-thirds of the world’s population and about 87% of global GDP. Decisions made in this forum have far-reaching impacts, and having an African nation at the helm for the first time means those decisions can finally be informed by Africa’s perspectives and priorities.
A Pivotal Moment for Africa’s Global Voice
Never has an African country led the G20 and expectations are high that issues central to Africa’s development will take centre stage. With Africa in the “driver’s seat”, initiatives around finance, climate, and inclusive growth are more likely to reflect African realities and aspirations. The B20 South Africa platform in particular has offered a unique opportunity to elevate African priorities such as financial inclusion, green industrialisation, skills and employment, infrastructure resilience, and long-term value creation. This shift is not just symbolic; it marks a concrete step towards a more inclusive form of global governance, where African ideas and innovations inform solutions to worldwide challenges.
Pivoting the ESG Barometer for Greater Impact
This Special B20 South Africa Impact edition of Sanlam’s ESG Barometer represents a strategic evolution, pivoting from measuring corporate ESG performance to assessing policy impact. By examining which business-driven proposals succeeded and why, the report shows how private-sector insights can translate into public policy changes that advance sustainability and inclusive growth.
This shift reflects Sanlam’s belief that driving Africa’s development and ESG goals requires not only corporate action but also effective global policy.
Why It Matters
Investors: Global policy shifts shape market conditions and investment opportunities. When B20 recommendations on priorities like sustainable finance or infrastructure are adopted, they can unlock funding flows, regulatory support, and projects. For investors, especially those focused on Africa, this report helps
anticipate how international commitments – on climate action, digital inclusion and more – might translate into local opportunities.
A clearer view of Africa’s rising influence enables smarter capital allocation, aligning strategies with sustainable development and long-term value creation.
Policymakers: For African policymakers, this special edition offers a roadmap to bridge private insight and public action. By analysing why some B20 proposals succeed while others stall, it identifies practical lessons for turning ideas into implemented policy. This knowledge can guide reforms that have buy-in from business and global partners, accelerating development outcomes. Documenting how business-driven ideas influence G20 decisions provides a playbook for constructive engagement, ensuring African priorities are not only heard but acted upon.
Business Leaders: The private sector is central to this narrative. The report demonstrates that when businesses speak with a united, purpose-driven voice, they can influence global policy in meaningful ways. For African business leaders, this is both validating and motivating. Entrepreneurs and corporations across the continent are showing that their insights – on issues like financial inclusion, green energy, digital innovation – can shape commitments by the world’s most powerful economies. This amplifies the responsibility to integrate ESG principles into business and to collaborate across sectors for greater impact.
Sanlam’s role in producing this report, in partnership with stakeholders across Africa, reflects our commitment to that ethos. By charting how African business ideas are driving change, we aim to inspire more businesses to step forward. Corporate Africa is positioning itself not just as a beneficiary of global decisions, but as a co-author of solutions – innovating and investing in the future we all share.
Looking Ahead
Africa’s G20/B20 moment is a chance to reframe our continent’s role in the world – from passive recipient to active shaper of global economic progress. By capturing this shift, we aim to inform and inspire investors, policymakers, and business leaders alike. Together, we can ensure Africa’s rising voice translates into real, sustainable outcomes – for our people, our markets, and a more inclusive global economy.
KEY FINDINGS
We identify a number of key findings emerging from the review of the last three B20 processes.
Finding 1: Consistent and emergent areas of focus
A number of themes and focus areas have consistently appeared in the three sets of B20 proposals, including sustainability and inclusive growth, digital transformation and innovation, the strengthening of MSMEs, global value chains and resilience, and the need for coordinated action on global challenges.
More specifically, B20 proposals have been developed to catalyse action with respect to:
Trade & investment:
Strengthening supply chain resilience has been a consistent priority, emphasising enhanced multilateral trade cooperation, particularly via the World Trade Organisation. Digital adoption in customs and logistics to facilitate trade efficiency is also widely promoted across all three years. MSME integration through capacity building and improved access to finance remains central, along with addressing non-tariff barriers impeding global trade. Inclusive global value chains are promoted to integrate MSMEs, nations of the Global South and marginalised groups.
Energy, sustainability & climate:
The B20 consistently emphasises the need to accelerate investments in renewable energy and enhance energy efficiency as critical steps toward a sustainable future. It advocates for robust global carbon markets and innovative financing mechanisms to support climate action and facilitate the transition. Additionally, the B20 consistently prioritises an equitable energy transition that addresses the unique challenges faced by emerging economies, ensuring that climate goals are met inclusively and justly.
Digital transformation:
Another consistent priority, this emphasises the need to bridge digital divides by expanding digital infrastructure in underserved and rural regions. This focus ensures universal access to affordable, reliable internet and digital services, thereby empowering communities and businesses that have traditionally been left behind. Alongside infrastructural development, the B20 also consistently champions the strengthening of cybersecurity frameworks to protect digital ecosystems from evolving threats, fostering
trust among users and investors alike. Additionally, special attention is given to supporting MSMEs in their digital inclusion journey by promoting access to digital tools, fintech solutions, capacity-building programmes and policies that facilitate their integration into digital marketplaces and global value chains. These sustained efforts reflect a comprehensive approach to leveraging digital technologies as catalysts for inclusive economic growth, innovation and resilience.
Finance and infrastructure:
A strong and consistent emphasis is on mobilising blended finance and advancing public-private partnerships to catalyse sustainable development and infrastructure investment. India’s B20 notably introduced the proposal for a Global SDG Acceleration Fund, aimed at bridging financing gaps to accelerate progress on the SDGs. Alongside these efforts, improving MSME credit access has remained a priority, with calls for innovative and sustainable infrastructure financing mechanisms designed to foster inclusive economic growth. This continuity highlights the B20’s holistic approach to leveraging finance and infrastructure as key drivers for sustainable and equitable development worldwide.
Skills & mobility (future of work):
The future of work agenda, focusing on skills development and workforce mobility, is another consistent theme, advocationg for skilling programmes tailored to emerging sectors such as artificial intelligence and digital technologies, and recognising the evolving demands of the global labour market.
Integrity & compliance:
Consistent over the past several B20 cycles but emphasised particularly under the leadership of B20 Brazil, this theme emerges as a strong and focused priority. The B20 Brazil Integrity & Compliance Task Force promotes business integrity by advancing anti-corruption through collective action, which encourages collaboration among private firms, governments and stakeholders to uphold ethical standards across value chains.
Women & food systems:
Over recent B20 cycles, particularly under Brazil’s leadership, this theme has gained strong emphasis. B20 Brazil advocates for addressing hunger, poverty and food security challenges through the creation of a Global Alliance focused on sustainable and inclusive food systems that recognise women’s central role in agriculture and nutrition. It also promotes gender equity in trade and leadership, exemplified by initiatives like “She Leads B20”, which encourages women’s representation in decision-making roles within the food system and broader economic sectors.
The recurrence of core themes across the three B20 cycles –such as climate action, digital transformation, MSME support and inclusive growth – may raise questions about the effectiveness of the process. If the same priorities surface year after year, does that signal failure to deliver progress?
Not necessarily. Many of the issues tackled by the B20 are longterm, complex and cross-cutting. Climate change, for example, is not a problem to be “solved” in a single policy cycle. Nor is digital inclusion or structural support for MSMEs. These are systemic, interlinked challenges that require sustained attention, evolving responses and long-term commitment from both governments and business.
Rather than seeing repetition as a sign of stagnation, it may be more accurate to view it as a signal of persistence, with the B20 continuing to press for action where it matters most. In this light, consistency in priorities reflects the forum’s relevance – not its redundancy.
That said, the repeated appearance of certain proposals also brings into focus the importance of tracking implementation and impact more rigorously. Without a clear mechanism to monitor follow-through, even the most well-crafted recommendations risk becoming routine rather than catalytic. The challenge, then, is not only to shape ambitious proposals, but to strengthen the pathways through which those proposals can translate into action – and to measure where they do.
Finding 2: Tangible action does result from the process
While G20 declarations do not guarantee national implementation, many commitments linked to B20 proposals have moved from rhetoric to action. For instance, several G20 members, including India, Indonesia and Brazil, are actively rolling out and sharing digital public infrastructure, payment platforms and data frameworks, directly reflecting B20 advocacy for inclusive and interoperable digital ecosystems. In the area of climate finance, new blended finance mechanisms and SDG-focused funding vehicles, inspired by B20 advice, are being developed and deployed across G20 countries to support decarbonisation and green infrastructure investment.
Supply chain resilience has also seen concrete progress, with G20 trade and industry ministries launching projects aimed at mapping, diversifying and strengthening global supply chains as a response to B20 proposals on enhancing supply chain robustness. Furthermore, efforts to harmonise ESG reporting standards, foster women’s participation in economic activities and advance green innovations have been initiated in line with B20 recommendations promoting climate action and gender-inclusive economic development.
Finding 3:
Critical components of a successful B20 proposal
So, what makes for a successful B20 proposal that delivers realworld action by G20 nations? Our review of the previous three years suggests certain critical components:
Direct alignment with G20 priorities: A B20 proposal gains significant traction when it clearly aligns with the overarching priorities of the G20 presidency and the collective agenda of member countries. This means framing recommendations to directly address G20 themes such as sustainable development, digital transformation, climate action, inclusive growth and global economic resilience. The B20 Brazil 2024, for example, achieved historic success by ensuring 15 out of 24 major proposals were fully adopted because they targeted G20-identified issues such as sustainability, food security and finance mobilisation. Alignment creates relevance and urgency, making it easier for G20 leaders to incorporate business proposals into their official communiqués and action plans.
Specific institutional or financial mechanisms: Robust proposals provide concrete institutional or financial mechanisms, not just general policy aspirations. This means detailing how recommendations will be implemented or financed – for example, by establishing a dedicated fund, creating multilateral platforms, or reforming development banks to better mobilise private capital. For instance, the endorsement of the G20 Roadmap for Multilateral Development Banks was tied to clear financial targets like private capital mobilisation ratios. Proposals that articulate clear institutional roles, trackable mechanisms or innovative finance approaches tend to move faster from recommendation to concrete G20 policy action.
Measurable targets or KPIs: Successful B20 proposals incorporate measurable targets or key performance indicators (KPIs) to track progress and impact. This transparency on how success will be measured incentivises accountability and sustained commitment from governments and stakeholders. The B20 advocates for using KPIs both internally within institutions (like MDBs mobilising private capital) and at the policy level (such as increases in MSME trade participation or carbon emission reductions aligned with net-zero targets). Including KPIs bridges the gap between policy intention and execution, facilitating monitoring and ensuring proposals remain actionable. What is critical, however, is that the performance metrics selected are pragmatic and reflect the realities of policymaking processes.
Continuity via legacy structures: Proposals linked with or building on sustainable legacy structures, such as ongoing platforms, secretariats, working groups or permanent engagement forums, have stronger potential for continuation beyond a single G20 presidency. Legacy initiatives such as the One Global Women Empowerment (OGWE) platform and support structures like Carbon Centres of Excellence institutionalise B20 recommendations, ensuring ongoing implementation and evolution. The OGWE platform demonstrates how B20 proposals achieve continuity by being embedded into permanent institutional frameworks. B20 Indonesia handed over OGWE to the International Organisation of Employers (IOE) in 2022, which now hosts the platform as a permanent structure representing over 50 million businesses globally. This legacy approach ensures the women’s empowerment initiative continues evolving across multiple G20 presidencies with ongoing implementation, growing membership through new signatories like Gobi Partners, a leading Asia-focused venture capital firm playing the role of prominent investor and ecosystem builder and sustained advocacy work rather than ending when Indonesia’s presidency concluded. Embedding proposals into enduring institutional frameworks enables follow-up and cumulative progress, key to lasting impact.
Stakeholder engagement: Broad-based engagement of diverse stakeholders is critical. Successful proposals emerge from wideranging consultations that include governments, business leaders (large and MSMEs), civil society and multilateral partners. This inclusiveness fosters legitimacy, facilitates cross-sector buy-in and strengthens advocacy. The B20’s global coalition approach, with taskforces, engagement groups and collaboration with UN entities or MDBs, mobilises expertise and resources while enabling tailored, context-specific solutions. Active stakeholder engagement also helps build momentum for adoption and implementation. An example of this was the B20 India 2023 Digital Public Infrastructure proposal,which exemplified comprehensive stakeholder engagement by bringing together governments, large corporations, MSMEs, civil society organisations and multilateral partners like the World Bank, through structured taskforces and cross-engagement group collaboration.
Focus on global public good: Proposals framed as contributing to the global public good, such as sustainable development, climate stability, digital trust, health security and equitable economic participation, gain normative strength and more political support. The G20 promotes cooperation around such public good policies as they require collective action and generate global benefits. For instance, climate finance mobilisation, trade facilitation and pandemic preparedness proposals resonate more strongly because they align with these shared values and challenges. Proposals emphasising global public good emphasise the international community’s shared responsibility and potential gains. An example of this is the shared global challenge – this proposal was based on the experience of low and middle income countries which struggled to finance their healthcare systems during the Covid-19 outbreak.
Summary
A successful B20 proposal transcends being a mere concept; it is a meticulously crafted package that aligns with the G20’s political and technical priorities. It should provide clear, actionable implementation strategies and financing mechanisms, coupled with robust accountability frameworks. Embedding proposals within established legacy structures ensures continuity and sustainability beyond a single presidency, while broad stakeholder engagement fosters legitimacy, inclusivity and practical relevance.
Crucially, incorporating measurable targets and key performance indicators transforms recommendations from aspirational statements into actionable commitments, driving governments to implement and regularly evaluate progress. Furthermore, framing proposals within the pursuit of the global public good amplifies their normative strength, galvanising collective political will within the multinational G20 arena.
Critical elements include strategic alignment, concrete execution paths, accountability, institutional continuity, inclusive engagement and a focus on shared global benefits. If absent, these proposals risk being symbolic or transient, lacking the institutional grounding and measurable impact necessary to shape the G20’s complex, consensus-driven policymaking process.
REFLECTIONS from B20 stakeholders
The research team engaged a range of B20 stakeholders to test the findings from the desktop review against lived experiences. These stakeholders included representatives of organisations that had participated in at least the last three B20 cycles, bringing valuable insight into how the process has evolved over time. There was broad consensus that our findings reflected their own observations of what drives success in the B20 context. Stakeholders recognised in particular the importance of aligning B20 proposals with G20 priorities, maintaining a focus on recurring systemic themes, and designing recommendations that can generate tangible, real-world outcomes.
Interviewees reinforced the conclusions of the research team on each of the four findings. On finding 1 (consistent and emergent areas of focus), they noted that the persistence of key themes is not accidental but reflects the systemic nature
of these issues and the way in which the B20 builds on the outputs of previous years. On finding 2 (tangible action does result), they highlighted that the potential for practical delivery was often a deciding factor in their decision to engage with the process – and, in some cases, the reason why they chose to deepen their involvement over time. On finding 3 (critical components of a successful B20 proposal), they observed that proposals gained greater traction when business and G20 priorities were aligned, creating a shared sense of purpose. Further, they confirmed that successful proposals typically exhibit a clear set of characteristics that strengthen both their credibility and their chances of adoption and that the characteristics identified were accurate.
Stakeholders also identified several additional critical success factors for B20 proposals to lead to action. We discuss these in the section that follows.
A solid foundation of trust between business, government and other stakeholders
Interviewees stressed that even if a B20 proposal met all the technical criteria for success, it would not gain traction without a strong basis of trust between business, government and other key actors. Trust ensures that the motives of business are seen as genuine and aligned with the public good, rather than as selfserving. Without this confidence, proposals risk being dismissed as opportunistic or lacking legitimacy. Stakeholders agreed that credibility and authenticity in engagement were as important as the quality of the proposal itself.
Trust also plays a vital role in implementation. Institutions and individuals are unlikely to commit resources or take ownership of an initiative if they do not believe in the process through which it was developed. Where trust is absent, proposals stall at the recommendation stage. Where it is present, it fosters collaboration, joint problem solving and a willingness to take responsibility for delivery. Building and sustaining trust therefore underpins every stage of the B20 process, from agenda-setting to execution.
Effective knowledge partners
Knowledge partners play a critical role in ensuring continuity and coherence across B20 cycles. By bringing in lessons from previous years, they help prevent duplication and strengthen the institutional memory of the process. They also serve as a repository of technical expertise, distilling complex inputs into recommendations that are evidence-based and implementable. Several stakeholders noted that knowledge partners often provide the backbone of the process, ensuring its consistency over time.
Beyond technical competence, effective knowledge partners need strong skills in stakeholder management. The B20 process brings together a wide range of perspectives, often with competing priorities. Knowledge partners must be able to collate these views, manage tensions and synthesise them into a product that feels representative of all participants. When done well, this role builds credibility and legitimacy for the final recommendations. When done poorly, it undermines trust and weakens the output.
Bringing in the experts
In addition to knowledge partners, B20 stakeholders also noted the valuable contribution to be made by network partners. There was consensus across interviewees that careful selection of both network and knowledge partners is a critical driver of success for the B20 process.
Competent, credible, committed taskforce chairs
The role of taskforce chairs emerged as central to the success of the B20 process. Chairs are responsible for motivating and coordinating members, steering technical debates and consolidating inputs into a coherent set of recommendations. This requires credibility, technical competence and a clear understanding of the issues at stake. Stakeholders observed that the best chairs balance their own expertise with an ability to listen, broker compromise and drive consensus.
The demands on chairs are high. They must manage complex stakeholder dynamics, often across geographies and sectors, while working under tight deadlines and political constraints. Interviewees noted that only those chairs who are deeply committed to the process succeed in navigating these challenges. Their leadership can determine whether a taskforce produces ambitious yet realistic recommendations, or whether it struggles to deliver. A strong chair can lift the quality of the entire process.
Deiberate, practical advocacy
Stakeholders emphasised that moving a B20 proposal from paper to practice requires more than a strong set of recommendations –it depends on effective advocacy. Proposals are most likely to gain traction when they are championed by participants both during and after the G20 process. Advocacy cannot be left to chance. It must be intentional, continuous and directed at the right institutions and decision-makers.
Practical advocacy means going beyond high-level statements to specify who should take responsibility for which actions. Assigning accountability at the outset increases the likelihood that proposals will be adopted and acted upon. Stakeholders pointed out that advocacy also benefits from being framed in terms of concrete benefits to governments, citizens and businesses alike. In this way, B20 participants can build momentum for change and improve the chances of proposals moving into real-world implementation.
Success through advocacy in the absence of G20 adoption
For this research, we have defined a “successful” B20 proposal as one that results in tangible action. An intriguing finding from our stakeholder engagement is the view – with which we agree –that to achieve this success, a B20 proposal need not necessarily be adopted into the G20 recommendations. In fact, it is entirely possible for a B20 proposal to deliver on its objectives of real-world change, regardless of whether it is adopted by the G20, as the result of deliberate advocacy.
This is especially true in the case of proposals that are nuanced – for example, those that represent the perspective of a particular region or market. In these cases, while the political will to adopt the proposal may not be shared across the G20, those B20 stakeholders championing the proposal can still deliver on its mandate, provided they invest in strategic stakeholder engagement designed to secure buy-in and resultant action.
This finding reinforces our assertion that broad stakeholder engagement is crucial in achieving B20 proposal success.
Commentary: Trust: the foundation of a successful B20
By Nicole Martens, Head: Impact Advisory, Krutham
The Business 20 (B20) is a cornerstone of the G20 process. It brings together business leaders from across the world to develop recommendations that can shape global economic governance. In theory, the mechanism is straightforward: identify priorities, agree on proposals and feed them into the G20 agenda. In practice, the path from idea to implementation is less clear.
Our research into past B20 cycles shows a pattern. Certain types of proposals are far more likely to succeed. The strongest recommendations tend to align closely with G20 priorities, rather than introducing entirely new agendas. They also reflect consistent global themes that resonate across cycles, such as digital transformation, inclusive growth and climate resilience. Proposals framed in practical, actionable terms – rather than lofty aspirations – gain more traction. And those that demonstrate wide support from multiple stakeholders, not just business, stand a better chance of being embedded in the G20 outcomes.
These are important lessons. They give taskforces a framework for identifying which issues to champion and how to frame them. Yet they are not the whole story. A proposal can tick every box –aligned, consistent, practical, broadly supported – and still fail. Why? Because none of these features matter if the proposal is not trusted.
Why trust matters
Trust is the invisible foundation on which the B20 rests. Without it, the process risks becoming little more than a talk shop. Governments are unlikely to act on proposals if they doubt the motives behind them. Civil society will dismiss recommendations if it believes business is simply advancing narrow interests. Even within the B20, collaboration quickly falters if there is no trust between participants.
This makes the B20 distinct from many other policy forums. It is international by design. Participants are drawn from different economies, with varied political systems, business cultures and levels of development. Trust cannot be assumed. It must be built –and it must extend beyond national boundaries.
That is not an easy task. In South Africa, for instance, the relationship between the public and private sectors has often been strained. Historical mistrust, episodes of corruption and differing worldviews have created an environment where collaboration is fragile. Building trust in such contexts is challenging. Yet it is precisely in these settings that trust matters most, because without it the recommendations put forward by the B20 are unlikely to gain traction with government counterparts.
The same applies internationally. For G20 leaders to take B20 proposals seriously, they must believe that business is motivated by the public good as much as by private gain. That credibility is earned only through consistent, transparent engagement and a willingness to act in partnership.
The role of leadership
If trust is the foundation, leadership is the scaffolding that holds the process together. B20 taskforce chairs play a pivotal role. Their credibility and commitment set the tone for the taskforces they lead. When chairs put in the effort to advocate for proposals, to engage constructively with government officials and to nurture relationships across sectors, they lend legitimacy to the entire process.
Leadership also matters because trust underpins accountability. In any partnership, responsibility must be assigned and owned. But without trust, partners hesitate to commit. They fear being taken advantage of, or carrying blame without recognition. The result is paralysis. By contrast, when trust exists, participants are willing to step up, take responsibility and see initiatives through to implementation.
That is why credible leadership is so important. It creates the conditions in which accountability is possible. It turns collective aspirations into shared commitments.
Broadening the
circle
One encouraging development in recent years has been the inclusion of a wider range of voices in the B20 process. Civil society organisations and philanthropic foundations now play a more visible role. Their involvement matters not only because they bring valuable perspectives, but also because they help to bridge trust gaps.
Civil society, in particular, often starts from a position of scepticism towards business. Including these voices in the process demonstrates an awareness that trust must be built, not presumed. It also signals that business is willing to be transparent and to subject its proposals to scrutiny. That openness strengthens credibility, both within the B20 and in the eyes of governments and the wider public.
Of course, inclusion alone does not guarantee trust. Relationships must still be nurtured. Dialogue must be genuine, not performative. But the move towards broader participation is a positive step. It reflects an understanding that the B20 cannot be an exclusive club if it wants to drive inclusive outcomes.
A call to action for the B20 participants of 2025
In 2025, trust is more important than ever. The recommendations put forward this year will be judged not only on their technical merits, but on the credibility of the process that produced them.
That places a responsibility on all participants. Business leaders need to engage transparently, ensuring that their proposals align with the public good and not just with private interests. Taskforce chairs must lead with integrity, investing time and energy in building relationships with government counterparts and other stakeholders. Civil society and philanthropy need to be brought into the fold in ways that are meaningful, not tokenistic.
Above all, participants must recognise that trust is not a by-product of the process. It is the process. It is the glue that holds together the diverse coalition of actors involved in the B20. Without it, even the best-framed proposals will struggle to gain traction. With it, ideas have a chance to become actions that shape global policy.
The job now is clear. As the 2025 B20 cycle moves into advocacy, participants must commit to building and maintaining trust across stakeholder groups, within and beyond national boundaries. They must ensure that business speaks with a voice that is credible, transparent and aligned with the public good. Only then will the B20 be able to deliver on its promise – not just of ideas, but of results.
OPPORTUNITY
South Africa’s opportunity
As South Africa leads the 2025 B20 process, there is an opportunity to build on hard-won lessons from previous cycles and sharpen the influence of business in shaping global economic outcomes. The test is not only in producing strong proposals, but in ensuring they are positioned for adoption and action within the G20 framework.
The evidence from the past three cycles is clear: proposals are more likely to gain traction if they align with G20 priorities, offer practical implementation pathways and are grounded in measurable outcomes. This demands early and deliberate coordination between the B20 and G20 tracks – particularly during the planning stages of taskforces and working groups. Engagement with the G20 sherpa team from the outset can help ensure that business proposals speak directly to the G20’s political and policy focus.
For South Africa’s B20, this means staying close to the G20 agenda while also amplifying issues that are both globally relevant and rooted in local and regional priorities – from sustainable finance and digital inclusion to energy security and health resilience. South Africa’s context
offers a credible platform to elevate the voices of emerging and developing economies, especially around issues of finance mobilisation, inclusive growth and the reform of global institutions.
Future B20 cycles should also prioritise continuity. Proposals that build on previous cycles or link into legacy platforms are more likely to endure. Establishing clear monitoring frameworks – including key performance indicators –and encouraging follow-through between presidencies can help shift the B20 from a cycle of annual recommendations to one of cumulative, long-term influence.
Finally, effective stakeholder engagement remains essential. Proposals should be shaped not just by large multinationals but also by representatives of small and medium enterprises, development finance institutions, civil society and policy institutions. This diversity strengthens both the legitimacy and the practicality of recommendations, making them harder to ignore and easier to implement.
Successful B20 proposals are not simply well-intentioned – they are welldesigned, politically attuned and built for execution. South Africa’s 2025 B20 presidency has the opportunity to set a new standard by advancing proposals that are implemented and reflect global ambition, regional insight and a clear path to impact.
Commentary: G20 as a platform for strengthening business and labour relations
By Fezeka Thwala, Analyst: Impact Advisory, Krutham
The world of work is changing
The world of work is being reshaped by technology, automation and new, fragmented forms of employment. These forces are weakening organised labour’s influence, raising the risk that workers’ perspectives become sidelined in global forums such as the G20. Yet business and worker prosperity are inseparable: instability, inequality and exclusion ultimately undermine the resilience and growth that companies depend on. For the B20, this is less a social obligation than a strategic opportunity: by pre-empting the needs of labour and engaging with workers across various platforms, business can co-develop solutions to close skills gaps, design adaptive protections and shape policies that increase job creation and strengthen competitiveness while building inclusive, sustainable markets for the future.
Why the worker’s voice still matters
Markets cannot thrive without secure, engaged workforces.
Organised labour faces long-term decline fuelled by globalisation, deregulation and the fracturing of work into gig, platform and informal jobs, with AI presenting a fresh threat to job stability. Millions find themselves without stable wages, protections or collective representation. Worker interests are not mere “social issues” but foundational to resilient markets. Without meaningful worker buy-in, policies around skills, innovation and competitiveness risk faltering. While traditional unions struggle to adapt to the new economy, modern, networked and inclusive labour movements could represent all worker segments, from formal employees to gig and informal workers. For the B20, engaging labour in all its forms is about strategic collaboration: through the L20 and wider channels, the G20 platform can foster policies balancing market agility with rights, protections and inclusion, delivering fairer, more stable markets and shared prosperity.
Organised labour’s limits in the new economy
The nature of work has fundamentally changed, with platformbased, gig, and short-term employment increasingly replacing traditional long-term roles, exacerbated by AI. In this evolving landscape, while unions remain committed to defending their members, they often struggle to represent the majority of today’s workforce. As a result, millions of gig, informal and contingent workers are left without a collective voice. It is important to recognise that organised labour alone cannot effectively convey the worker perspective necessary for developing holistic solutions for the future of work.
Long-term economic stability hinges on the need to address exclusion and job precarity. This requires integrating protections and expanding dialogue to include not only traditional unions but also civil society, informal worker representatives and other underrepresented groups. By adopting this collaborative approach, the B20 can reconcile business priorities with the principles of inclusive growth, ensuring that innovation and competitiveness are built upon social legitimacy and workforce stability.
The B20’s current approach and the gap
Although the B20 has advanced labour-related issues, especially via the Employment and Education Task Force with initiatives on human capital, digital transformation and inclusion, the focus remains partial and technocratic. Engagements with only the L20 as representatives of labour are of limited value, given that organised labour’s mandate protects existing members, not the unemployed or future workforce entrants, limiting its scope as a partner for longterm, broad solutions. This challenges the B20 to embrace a more plural, sustained dialogue across all worker and societal voices to shape policies fostering inclusive, resilient and sustainable markets. For business, this is an opportunity to secure long-term stability, build trust and align competitiveness with economic and social resilience.
Opportunity for inclusion
The G20’s emphasis on inclusion offers a unique moment for the B20 to rethink labour dialogue, reflecting today’s diverse and fragmented workforce. This means moving beyond traditional union engagement to include civil society, informal workers and gig economy voices. Inclusive engagement builds legitimacy and buy-in; by treating labour in all its forms as a partner, the B20 can embed worker perspectives in policy and advocacy. Doing this could create an environment for better technological and climatedriven transitions to enhance dignity, security and fairness rather than deepen precarity. Shifting from occasional statements to sustained collaboration enables business to co-create practical, balanced future-of-work solutions, making labour markets innovative, competitive, socially responsible and stable.
A call to action
The stakes could not be higher. Ignoring labour risks undermining business proposals and market stability alike. The opportunity for B20 stakeholders, particularly as they enter the policy advocacy stage, is clear: to meaningfully engage labour across its full spectrum, from traditional unions to gig and informal workers, to shape policies that reflect today’s workforce reality. Success here hinges on ensuring the future of work is not just innovative and competitive, but fair, secure and inclusive. By actively collaborating with labour, the B20 can design workforce strategies that reduce risk, strengthen trust and build resilience, proving that inclusive engagement is not only socially responsible but a strategic imperative for enduring business success.
To engage workers in a fragmented world of work, business must invest in understanding and connection – and the B20 advocacy process is the perfect place to start.
The Role of African Business in Leveraging Group of Twenty (G20) –Business Twenty (B20) Legacies
By Gaffar Hassam, Executive: Brand, Strategy & Corporate Affairs at SanlamAllianz: Corporate and Mkuseli Mbomvu, Executive Head: Sanlam Group External Relations
South Africa’s presidency of the Group of Twenty (G20) in 2025 – the first ever on African soil – represents a turning point in the continent’s global engagement. Alongside it, the Business Twenty (B20) business forum has given African private sector voices a platform in global policy dialogue. For the first time, the concerns of African entrepreneurs, financiers, and innovators are being heard in the conversations that shape the world’s most powerful economies. This is not symbolic; it is an opportunity for African businesses to use G20–B20 legacies to advance integration, competitiveness and shared prosperity.
African Continental Free Trade Area (AfCFTA) as a growth engine
The African Continental Free Trade Area (AfCFTA) sits at the heart of this opportunity. With 1.3 billion people and a combined gross domestic product (GDP) of US$3.4 trillion, AfCFTA creates the world’s largest new market. The World Bank estimates that its full implementation could raise Africa’s income by 9% by 2035 and lift 50 million people out of poverty. Yet today, intra-African trade is only about 16% of total exports, compared to more than 60% in Europe and Asia. The challenge is clear: African businesses must embrace opportunities in trade facilitation, customs digitisation and regulatory convergence to accelerate continental trade flows. B20 recommendations can support this, but it is African ownership and implementation that will drive results.
Collaboration to Drive Competitiveness
Businesses cannot transform the continent alone. Collaboration with governments, civil society and multilateral partners is essential. The B20 has highlighted the value of cross-sector accountability, but Africa must ensure that commitments translate into practical outcomes. Aligning government policy with private sector capacity to invest and innovate is critical. From harmonising product standards to building regional transport corridors, reforms will succeed only if actors work together. Collaboration is the catalyst that enables businesses to expand confidently across borders.
Financing the Future
Closing Africa’s infrastructure gap remains vital. The continent requires US$130 to 170 billion in annual infrastructure investment, yet mobilises only about 80 billion, costing roughly 2% of GDP growth each year. Innovative financing – from blended public–private partnerships to mobilising African pension funds – is essential.
SanlamAllianz, the largest pan-African non-banking financial services group, represents a new generation of African-led enablers. With operations spanning 26 countries, SanlamAllianz combines Sanlam’s deep local roots with Allianz’s global expertise. Our mission is to de-risk investment, expand insurance penetration and channel capital into priority areas such as infrastructure resilience, small and medium-sized enterprise (SME) financing and inclusive market development. By providing instruments that give investors confidence, SanlamAllianz helps transform opportunities into viable projects that create jobs and accelerate integration.
Industrialisation and Innovation
The African Union’s Agenda 2063 places industrialisation and value addition at the centre of Africa’s long-term development. The G20–B20 agenda aligns with this vision, calling for innovation ecosystems, SME empowerment and sustainable industrial growth. African businesses now have a chance to scale manufacturing, leverage digital technologies, and add value to the continent’s abundant natural resources. The private sector must lead, but success depends on supportive frameworks – trade agreements, infrastructure and financing. The G20 and B20 discussions offer a useful blueprint, but Africa’s leadership, innovation and persistence will ultimately deliver the results.
From Legacy to Leadership
African businesses and financiers now have a window to turn global dialogue into African-led delivery. The legacies of the G20 and B20 should not be seen as ready-made solutions, but as opportunities to be leveraged. They complement Africa’s existing frameworks, yet real impact will come only from African institutions and businesses driving implementation on their own terms.
SanlamAllianz stands ready to play its part, alongside other African institutions, in financing and enabling this transformation. The goal is clear: an Africa that is integrated, industrialised and globally competitive. By aligning global legacies with African priorities, the continent’s businesses can lead the way into a new era of prosperity and, in doing so, shape a fairer and more inclusive global economy.
Africa’s Global Moment: B20 South Africa’s Impact on Global Policy Dialogue
By Cas Coovadia, B20 South Africa Sherpa – for the
A historic African moment
Report
2025 marks the first time the Group of Twenty (G20) and Business Twenty (B20) are presided over by an African country. Hosting the B20 on African soil elevates our continent’s voice in global economic governance under the theme “Inclusive Growth and Prosperity through Global Cooperation.” This year is rightly described as Africa’s global moment: a chance to shape a more connected, equitable world economy with Africa at the centre of the conversation.
From dialogue to delivery
After months of rigorous, multi-stakeholder work, B20 South Africa submitted 30 evidencebased, implementation-ready recommendations to the G20 Presidency. They offer practical, measurable proposals designed to convert consensus into results. This handover is a turning point: it signals business leadership stepping up with a clear, impact-focused agenda rather than abstract aspirations.
Five strategic themes
The recommendations cohere around five strategic themes:
1.
Capital access for infrastructure and industry – mobilising investment to close the infrastructure gap and accelerate industrial growth;
2.
Food security and agriculture – strengthening value chains and resilience;
3.
Climate-responsive economies – coupling a just energy transition with growth;
4.
Digital and skills transformation – closing the digital divide and building future-ready capabilities; and
5.
Industrial innovation and inclusion – leveraging Africa’s critical-minerals and innovation potential to drive competitive, inclusive growth.
These are underpinned by enabling mechanisms that reinforce good governance, public–private partnership, SME and women’s empowerment , and business resilience, the conditions that turn ambition into action.
Sanlam ESG Barometer B20 Policy Impact Special
Africa in the room where decisions are made
A defining feature of this presidency is the infusion of African priorities into global policy. The B20 Trade & Investment Task Force emphasised the African Continental Free Trade Area (AfCFTA) to boost intra-African trade and deepen integration into global value chains, an essential engine of jobs and competitiveness. Recommendations on infrastructure finance and climate action reflect African realities, including the need for blended finance and a fair, just transition that aligns growth and resilience. This is not a regional add-on; it is a global imperative that benefits all economies when emerging markets are truly at the table.
Leadership and inclusion
Sanlam Group Chief Executive Officer Paul Hanratty chaired the Employment and Education Task Force, which delivered a clear message: skills and jobs are foundational to economic resilience, social cohesion and political stability. The task force’s recommendations provide a business-led blueprint, and the advocacy phase is now in motion. The B20 cycle also set new benchmarks for inclusion, with women comprising 50% of B20 South Africa’s leadership, demonstrating the credibility of a process that reflects the diversity of those it serves.
The
work ahead: implementation and impact
As we approach the G20 Summit and the period beyond, success will be judged by outcomes: investments made, jobs created, technologies deployed, and partnerships formed. The B20 calls on business to mobilise resources, expertise and innovation; on governments and multilaterals to maintain momentum; and on all parties to embrace co-ownership and accountability. Inclusive, sustainable growth is a shared responsibility, and it is within reach if we now focus on delivery.
Confidence
in collaboration
This year has shown what collaboration and shared purpose can achieve. The legacy of B20 South Africa will be measured not only by a strong policy package, but also by renewed faith in multilateral cooperation and the rise of African leadership in global affairs. By championing inclusive policies and deepening trust between business and government, we can close infrastructure gaps, empower entrepreneurs and improve lives across our continent. The handover of the recommendations is not an endpoint; it is a call to action to turn Africa’s global moment into a lasting movement for prosperity and shared progress.
These recommendations, evidence-based, performance-driven and implementation-ready, are the result of tireless work across eight task forces, guided by five strategic themes and three enabling mechanisms.
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Annex Indonesia
Table 7: Indonesia 2022 B20 recommendations and policy actions
TRADE AND INVESTMENT TASK FORCE
RECOMMENDATION POLICY ACTION
Recommendation 1: Promote open, fair, inclusive and efficient post-pandemic global trade and investment multilateral governance, including through reforming the World Trade Organisation (WTO)
Recommendation 2: Facilitate innovation, digitalisation and technology adoption to support international development and mitigate future global crises
Policy Action 1.1: Roll back pandemic and non-pandemic trade restrictive measures and subsidies that are inconsistent with WTO rules and refrain from implementing new, similar ones
Policy Action 1.2: Support measures towards an inclusive, equitable and balanced economic recovery, recognising different development levels between nations and within nations
Policy Action 1.3: Strengthen multilateral cooperation and modernise the multilateral trading system, through initiating a continuous reform of the WTO to support SDGs
Policy Action 2.1: Encourage global coordination to facilitate safe and free cross-border data flows and foster conformity in digital trade
Policy Action 2.2: Promote further exchanges and strategic use and sharing of science, technology and appropriate data for crisis detection, creating a global coordination framework for future crisis mitigation
Policy Action 3.1: Increase access to finance and create a regulatory environment that enables investors and lending institutions to support female entrepreneurs and MSMEs to trade and scale up business
Recommendation 3: Amplify support to attain inclusivity in the global supply and value chain
Recommendation 4: Make trade and investment impactful drivers for a greener and more sustainable development in line with SDGs
Policy Action 3.2: Promote further inclusion of MSMEs and female led businesses in domestic, regional and global supply chains through inclusive supply chain ecosystem models
Policy Action 4.1: Facilitate cooperation in voluntary carbon-trade consistent with WTO rules and Article 6 of the Paris Agreement
Policy Action 4.2: Direct foreign direct investment flows towards green businesses and a circular business model
Policy Action 4.3: Leverage trade and investment measures to accelerate the just transition
ENERGY, SUSTAINABILITY AND CLIMATE TASK FORCE
RECOMMENDATION
Recommendation 1: Enhance global cooperation on accelerating the transition to sustainable energy use by reducing carbon intensity of energy use through multiple pathways
Recommendation 2: Enhance global cooperation on ensuring a just, orderly and affordable transition to sustainable energy use across developed and developing countries
Recommendation 3: Enhance global cooperation on increasing consumer level access and capacity to consume clean, modern energy
POLICY ACTION
Policy Action 1.1: Enhance the pace of energy efficiency improvement across the transport, construction and industrial sectors
Policy Action 1.2: Progressively reduce the carbon intensity of electricity by reducing emissions from coal-fired generation and accelerating renewable energy deployment, according to national circumstances
Policy Action 1.3: Accelerate the mitigation of carbon emissions from hard-to-abate sectors
Policy Action 1.4: Progressively enhance the quantum, predictability and ease of financing flows to developing countries
Policy Action 1.5: Support climate technology innovation by supporting start-ups and research universities with technology, financing, skilled manpower, knowledge & facilities sharing
Policy Action 2.1: Ensure an orderly transition in primary energy sources
Policy Action 2.2: Ensure MSME participation in energy transition activities with financing and capacity building
Policy Action 2.3: Assist transition readiness by ensuring human capital ability to accommodate change (eg, transfer knowledge, upskilling)
Policy Action 2.4: Ensure sustainable practices for mining of essential minerals for energy technologies
Policy Action 3.1: Accelerate deployment of integrated electricity access solutions, including off-grid with community participation and grid-based electrification, to expand energy access and enhance economic prosperity
Policy Action 3.2: Facilitate adoption of technology by households and MSMEs for efficient, clean, modern energy usage
Policy Action 3.3: Ensure broad basing of the transition by addressing affordability barriers in developing countries
Table 7: Indonesia 2022 B20 recommendations and policy actions
DIGITALISATION TASK FORCE
RECOMMENDATION
Recommendation 1: Drive universal connectivity – ensure future-proof connectivity for all, fostering universal access to participate in the digital economy and government services, ensuring inclusion and eliminating the digital divide
POLICY ACTION
Policy action 1.1: Ensure access to high-speed, high-capacity digital infrastructure for digital inclusion and support private efforts to bring inclusive connectivity for all, especially in developing countries
Policy action 1.2: Accelerate network rollout through multiple initiatives, utilising fixed, mobile and satellite broadband systems to expand network coverage and increase capacity. Promote fair competition, global standards and act to remove deployment barriers
Policy action 1.3: Ensure higher usage of the internet by generating online content that is relevant to citizens and accessible to all; includes ensuring that the cost of devices, internet services and other value chain components do not limit adoption
Policy action 2.1: Unlock digital opportunities across the economy at large that prioritise ESG, to enhance competitiveness and drive inclusive growth
Recommendation 2: Build a foundation for a sustainable and resilient digital economy – accelerate the development of digital infrastructure
Recommendation 3: Ensure a digital-ready mindset for individuals and micro, small and medium enterprises, and enable MSMEs through access to digital platforms, fostering tech-enabled workforces and companies
Policy action 2.2: Encourage open, innovative and coordinated digitalisation of governing institutions to enhance public service delivery, through modern innovative business models and regulations
Policy action 2.3: Promote adoption of digital infrastructure (cloud, digital identification, digital payment systems, digital signatures, among others), and facilitate the free flow of data across borders, based on trust and the premise of respecting the domestic legal frameworks of each country
Policy Action 3.1: Define specific desired practical outcomes by level of education (primary, secondary, tertiary) to individuals, while promoting the use of digital equipment and solutions to enhance the learning experience
Policy Action 3.2: Improve individuals’ technical digital skills through continuous education, involving multistakeholder cooperation, to increase their propensity to use digital products and services and their ability to navigate cyberspace safely and mindfully – especially for MSMEs but applicable across all companies
Policy Action 3.3: Accelerate responsible innovation and digital adoption, especially by MSMEs but applicable across all companies, by promoting policies to provide access to digital platforms that can help build competitive markets
Policy Action 3.4: Increase efforts to provide sustainable and fair financing for MSMEs to adopt digital technologies
Recommendation 4: Promote risk and evidence-based, interoperable and technology-neutral cybersecurity standards and best practices that support companies’ efforts to protect their networks; includes defining cybersecurity protocols and promoting enhancement of cybersecurity practice and education to private users and companies, including MSMEs
Policy action 4.1: Define cybersecurity and cyber resilience interoperable standards and best practice using a risk- and evidencebased technology-neutral approach to all levels of supply chains
Policy action 4.2: Promote enhancement of cybersecurity practice through increasing awareness of security threats, bridging cybersecurity skill gaps, requiring government vendors to meet self-regulating cybersecurity standards, increasing cross-border cooperation and championing the implementation of universally recognised norms, rules and principles
FINANCE AND INFRASTRUCTURE TASK FORCE
RECOMMENDATION
Recommendation 1: Improve access to affordable and suitable sources of financing for infrastructure
Recommendation 2: Drive collaboration between countries to accelerate a just transition towards a netzero world
Recommendation 3: Accelerate the development and adoption of digital and smart infrastructure
Recommendation 4: Improve global financial services regulation to achieve better balance between growth, productivity and stability
POLICY ACTION
Policy Action 1.1: Improve public sector support to mobilise commercial finance for infrastructure projects
Policy Action 1.2: Implement public sector policies to improve infrastructure project viability
Policy Action 2.1: Implement policies to increase the pool of funds for green infrastructure
Policy Action 2.2: Improve the investment climate for decarbonisation projects
Policy Action 2.3: Improve public sector support to accelerate the development of viable green infrastructure projects
Policy Action 3.1: Implement policies to accelerate the provision of and achieve comprehensive access to digital infrastructure, to drive sustainable and inclusive development
Policy Action 3.2: Promote the adoption of digitalisation in infrastructure development
Policy Action 4.1: Reduce investment barriers for infrastructure by improving the financial services regulatory environment
Policy Action 4.2: Ensure financial services regulatory frameworks strike the right balance between promoting economic growth, improving productivity and maintaining financial stability
FUTURE OF WORK TASKFORCE
Recommendation 1: Support post-pandemic recovery and growth, aligned to the Future of Work
Recommendation 2: Upgrading education and lifelong learning systems to align with the Future of Work
Recommendation 3: Ensure that workforce inclusion accelerates after the pandemic setback
Policy Action 1.1: Actively enable entrepreneurship, business growth and job creation, targeting SMMEs
Policy Action 1.2: Align labour-market regulations with the realities of post-pandemic ways of working
Policy Action 1.3: Enable the transition of workers and businesses into the formal economy
Policy Action 1.4: Ensure that the future of work is “people-centred”, supported by enabling technologies
Policy Action 2.1: Upgrade the quality of education systems
Policy Action 2.2: Build fit-for-purpose lifelong learning systems
Policy Action 2.3: Actively anticipate and support a smooth transition to future sectors and jobs
Policy Action 3.1: Rebuild confidence, employability and employment for the youth
Policy Action 3.2: Empower women across the workforce
Policy Action 3.3: Target pandemic-recovery initiatives to support vulnerable sections of the workforce
INTEGRITY AND COMPLIANCE TASK FORCE
RECOMMENDATION
Recommendation 1: Promote sustainable governance in business to support environmental, social and governance (ESG) initiatives
Recommendation 2: Foster collective action to alleviate integrity risks
Recommendation 3: Foster agility in counteracting measures to combat money laundering/terrorist financing risks
Recommendation 4: Strengthen governance to mitigate exacerbated cybercrime risks
Policy Action 1.1: Identify and establish the critical ecosystem that enables access to finance, legal and other entrepreneurial technical assistance
Policy Action 1.2: Develop a global women business network to stimulate cross-border knowledge-sharing and investments into women-led businesses
Policy Action 2.1: Equip more girls with STEM skills (science, technology, engineering, mathematics) and increase and accelerate women’s access to digital skills
Policy Action 2.2: Strengthen skills for women to undertake leadership roles and facilitate agreement on a common gender reporting framework to improve transparency
Policy Action 3.1: Improve job security for female workers in the informal economy, including in rural communities
Policy Action 3.2: Develop policies, strategies and systematic approaches to enable prevention of gender-based violence and provision of assistance to victims in the workplace
Table 8: India 2023 B20 recommendations and policy actions
INCLUSIVE GVCS FOR RESILIENT GLOBAL TRADE AND INVESTMENT
RECOMMENDATION
Recommendation 1: Build Resilient and Sustainable Global Value Chains (GVCs)
Recommendation 2: Technology and Trade 4.0: Crossing Borders with Industry 4.0
POLICY ACTION
Policy action 1.1: Foster global coordination for crisis mitigation and resilience
Policy action 1.2: Strengthen systemic and operational resilience through continued multilateral reforms and international cooperation on reducing trade restrictive measures
Policy action 1.3: Encourage global frameworks for sustainably de-carbonising GVCs and enhancing investment attractiveness
Policy action 1.4: Facilitate FDI flows towards green, sustainable and circular business models
Policy action 2.1: Establish requisite digital infrastructure and drive technology adoption to accelerate cross-border trade and efficiency
Policy action 2.2: Facilitate creation of interoperability in standards and protocols for digitising and exchanging data, thus streamlining digital transactions
Policy action 2.3: Facilitate the establishment of legal frameworks that promote transparency and ease of doing business, keep pace and evolve with technological advancements
Policy action 3.1: encourage streamlining of services classification and improved data collection including the establishment of global frameworks for the servicification of manufacturing)
Recommendation 3: Diversify and Advance Services Trade
Recommendation 4: Foster Inclusive Trade for LDCs, MSMEs, Women and Youth
Policy action 3.2: Enable conditions conducive to services’ trade by easing regulatory requirements and bringing transparency in traderelated policies
Policy action 3.3: Promote investments in services
Policy action 3.4: Accelerate the role of LDCs in GVCs by fostering enhanced capabilities and opening new opportunities
Policy action 4.1: Develop inclusive ecosystems by identifying transformative opportunities for enhanced participation of LDCs, MSMEs, women and youth in global trade
Policy action 4.2: Enable infrastructure development and trade financing for enhanced GVC participation of LDCs, MSMEs, women and youth
RECOMMENDATION
FINANCE AND INFRASTRUCTURE
Recommendation 1: Global SDG Acceleration Fund (GSAF) for financing of “Global Public Good” (with initial thrust on geographically fungible SDG projects in climate change, energy transition, biodiversity and ocean pollution
POLICY ACTION
Policy action 1.1: Establish the Global SDG acceleration fund (GSAF) as a global multi-donor fund bringing national governments, private sector and philanthropies together to boost investments in SDGs for sustainable global economic recovery
Policy action 1.2: Leverage GSAF for the financing of global public good using credit enhancement tools to bring down the cost of capital for enhancing financial viability of projects and pool of fundable projects
Recommendation 2: Build capacity of domestic financial sectors for SDG financing
Recommendation 3: Improve MSME access to finance and reduce the cost of capital to foster inclusive growth
Policy action 2.1: Enhance the existing capacity and capability of domestic financial sectors in G20 countries for addressing the SDG financing gap
Policy action 2.2: Improve domestic regulations and strengthen global coordination for scaling up sustainable finance instruments
Policy action 3.1: Encourage national governments to create a credit enhancement fund for MSMEs to improve their access to finance and build financial resilience
Policy action 3.2: Promote alternative financing instruments and mechanisms for MSME financing such as blended finance, utilising technology, digital platforms and adopting innovative partnership models
Policy action 3.3: Address existing inefficiencies, risks and hassles of sharing financial data and information of MSMEs and strengthen measures to raise financial awareness and literacy
Policy action 4.1: Fostering public and private-sector partnerships to ramp up spending through innovative and sustainable financing models for bridging the infrastructure financing gap while promoting sustainable energy development
Recommendation 4: Finance sustainable and resilient infrastructure with enhanced focus on healthcare, energy and digital infrastructure
Policy action 4.2: Encourage enhancing health infrastructure, including through capitalising private capital for financing and retrofitting existing healthcare facilities
Policy action 4.3: Technology advancement by developing innovative and cost-effective digital infrastructure
DIGITAL TRANSFORMATION
RECOMMENDATION
Recommendation 1: Bridge the digital divide by accelerating universal, future-proof and transformational connectivity across all regions and communities to increase digital penetration, drive sustainable investment and deliver inclusive growth
Recommendation 2: Address digital literacy and skills gap by developing global minimum standards for digital literacy to enable international skills portability, the creation of an inclusive and diverse workforce and enable global measurement of digital literacy levels
POLICY ACTION
Policy action 1.1: Ensure access to the internet
Policy action 1.2: Boost internet affordability and accessibility
Recommendation 3: Promote enterprise transformation for MSMEs through access to sustainable finance, a globally recognised and sector-specific digital toolkit and a favourable regulatory environment
Policy action 2.1: Set unified standards and metrics for digital literacy
Policy action 3.1: Expand efforts to provide sustainable financing to MSMEs for adopting digital technologies and complementary services
Policy action 3.2: Establish a globally recognised digital toolkit and framework supported by a favourable regulatory environment that enables the creation of a digital ecosystem and provides end-to-end support to MSMEs in their digital transformation journey with a focus on creating a user-friendly and accessible platform that caters to the needs of MSMEs of different sizes and industries
FINANCIAL INCLUSION FOR ECONOMIC EMPOWERMENT
Recommendation 1: Private sector involvement for financial inclusion
Policy action 1.1: Enable fintechs and new-age financial institutions (neo banks, digital banks) to design secure, affordable, accessible and privacy-enhancing digital financial products and devices, increasing acceptance among merchants and adoption among consumers
Policy action 1.2: Encourage competition and innovation as well as investments among private sector financial service providers through the right set of commercial incentives and policy frameworks to enable sustainable business models and drive overall market efficiencies
Policy action 2.1: Promote the digitisation of identities at the individual, enterprise and farm levels that are both interoperable and recognised across borders
Policy action 2.2: Encourage the development of DPI with safeguards for seamless delivery of public services
Recommendation 2: Digital public infrastructure (DPI) rollout
Recommendation 3: Build capacity through incubation and literacy
Policy action 2.3: Encourage collaborations between the public and private sectors to enable digital payments and promote last-mile financial inclusion
Policy action 2.4: Encourage the free data flow between financial institutions and consumers through a dedicated consent architecture
Policy action 2.5: Promote interoperability among multiple technologies and regulatory and financial ecosystems, enabling all stakeholders to interact
Policy action 3.1: Provide incubation/ handholding/mentorship assistance to small businesses and enterprises to enable them to access the right resources and focus on growth
Policy action 3.2: Encourage the domestic MSMEs to conduct international trade business
Policy action 3.3: Impart digital and financial literacy to reduce financial frauds/ scams and increase adoption of technology
FINANCIAL INCLUSION FOR ECONOMIC EMPOWERMENT (CONT)
RECOMMENDATION
Recommendation 4: Gender inclusive finance
Recommendation 5: Reduce the cost of borrowing for underserved segments
Recommendation 6: Harness the power of business correspondents in financial inclusion
Recommendation 7: Targeted interventions for agri and rural segments
Recommendation 9: Increase insurance, savings and wealth management penetration
Recommendation 10: Enhance consumer protection
Recommendation 11: Inclusive policy design and governance
POLICY ACTION
Policy action 4.1: Consider gender as a key component when designing financial products and encourage differential norms for women and people in vulnerable situations to provide equitable and affordable access to financial services
Policy action 5.1: On the supply side, strengthen financial institutions by providing risk-hedging instruments to disburse affordable credit to underserved segments
Policy action 5.2: Enhance low-cost developmental capital for financial inclusion to further SDGs using existing ecosystems of banks, bonds, equities and credit
Policy action 6.1: Promote primary cooperatives as the physical touchpoints for digital delivery of last-mile financial services
Policy action 6.2: Establish a regulatory framework for managing and overseeing the self-help groups (SHG) ecosystem
Policy action 7.1: Prioritise financial inclusion of small landholding and landless farmers in the agriculture segment
Policy action 7.2: Promote group-based delivery of financial services through aggregation of farm produce
Policy action 8.1: Enable the development of an international regulatory framework to support cross-border payments and remittances through collaboration between national governments
Policy action 9.1: Increase penetration of affordable insurance products through inclusive distribution channels, suitable product design, simple premium payment and claim collection systems to mitigate the risk at the bottom of the pyramid
Policy action 9.2: Promote the uptake of savings and pension products at the bottom of the pyramid to strengthen resilience in dealing with financial exclusion
Policy action 9.3: Graduate individuals and enterprises from using basic financial services to consuming more advanced wealth management products
Policy action 10.1: Adopt a strong consumer protection framework that focuses on improving cybersecurity, maintaining data privacy and resolving customer complaints in order to increase consumer safety and trust
Policy action 10.2: Incorporate fairness (non-discrimination), transparency and suitability of products as the central tenets in delivering financial services
Policy action 11.1: Encourage nations to have regulations and policies that are inclusive by design
Policy action 11.2: Promote the setting up of self-governing bodies to standardise practices in the digital lending sector
TECHNOLOGY, INNOVATION AND R&D
RECOMMENDATION
Recommendation 1: Set up a virtual digital lab and library as a platform to promote cross-border collaboration for R&D, knowledge transfer of technology best practices and dissemination of the latest information on globally available resources/funds
POLICY ACTION
Policy action 1.1: Create a management council with representatives from G20 and B20 to develop, operate, enhance and secure funding for this platform
Policy action 1.2: Depute global experts on a rotational basis to staff the virtual laboratories
Policy action 1.3: Create a digital marketplace for close collaboration among governments, industry, academia, businesses, R&D institutions, venture funds and start-up ecosystem to promote joint innovation on G20 focus areas
Policy action 1.4: Drive active and broader adoption of this collaboration platform by organising promotional events
Policy action 1.5: Publish currently available exchange programs across G20 nations to facilitate the exchange of ideas and joint actions around G20 priorities
Policy action 1.6: Create a crowdsourced repository of policies and regulations applicable to emerging digital technologies to facilitate standardisation across G20 nations
Policy action 1.7: The platform should feature AI-based relationship management solutions to match experts and resources with those seeking collaboration within G20 nations
Policy action 1.8: Create a G20 Technology, Innovation and R&D knowledge exchange (along the lines of Wikipedia/GitHub) to share open-source content on research and innovations
Policy action 1.9: Create and periodically update the “tech, innovation and R&D funds marketplace” showcasing globally available funds
Policy action 2.1: Create industry 4.0 acceleration programmes for knowledge and technology transfer through industry workshops and tech shows
Policy action 2.2: Establish G20/B20-led capacity building and workforce transformation initiative with organisations like the World Economic Forum to develop an advanced industry 4.0 curriculum for upskilling and reskilling
Recommendation 2: Create an institutional mechanism for standardising the protocols of Industry 4.0 with guidelines to accelerate technology transfer and knowledge sharing on industry best practices.
Policy action 2.3: Create a centralised procurement hub to ensure supply chain resilience for critical technologies such as IoT devices, edge processors, advanced sensors, etc.
Policy action 2.4: Identify special economic zones to create a vibrant digital manufacturing supply chain ecosystem to achieve economies of scale
Policy action 2.5: Create a digital platform for developing local supplier solutions, establishing a shared competence centre and creating a digital community
Policy action 2.6: Establish centralised and focused research programmes on next-gen technologies such as autonomous robotic systems (ARS) and digital-twin
TECHNOLOGY, INNOVATION AND R&D (CONT)
RECOMMENDATION
Recommendation 3: Collaboration among G20 countries and information sharing to enable ‘Internet for All’
POLICY ACTION
Policy action 3.1: Establish an enabling framework to ensure: minimum data access for citizens; right to information; freedom of expression; personal data protection; minimum data latency (metered/ non-metered content)
Policy action 3.2: Create a public-private partnership model to leverage emerging technology capabilities such as space-based network communication, 5G connectivity, etc, to promote remote connectivity
Policy action 3.3: Extend financial and technology infrastructure support to build last-mile connectivity across remote and rural areas of developing nations
Policy action 3.4: Encourage governments to extend minimum secure public Wi-Fi for connectivity in lower economic zones to make access to digital solutions free or affordable
Policy action 3.5: Create internet awareness programmes for the newly enabled to educate them on the safer and effective use of digital solutions
Policy action 3.6: Establish net-neutrality and anti-monopolistic regulations to promote fair access to connectivity
Policy action 4.1: Create a Consortium for Deep and Emerging Tech, leveraging representatives from research institutes, academia, industry and tech start-ups
Recommendation 4: Institutionalise a G20 collaboration forum for deep and emerging tech advancement to facilitate joint innovation and R&D.
Recommendation 5: Establish a collaboration body for technology driven cancer research to identify groundbreaking innovations in prevention, detection, cure and care
Policy action 4.2: Create a special task force within the consortium to conduct a detailed study on applications of GenAI and create guidelines for responsible and inclusive advancement of GenAI
Policy action 4.3: Set up mechanisms for the free movement of deep tech talent and resources within G20 nations
Policy action 4.4: Create focused programmes for developing nations and economies specifically to promote the establishment of supporting infrastructure and ecosystem and facilitate tech transfer
Policy action 5.1: Enhance epidemiological and population-level cancer studies
Policy action 5.2: Globally concerted efforts for standardisation of screening and detection using data and AI
Policy action 5.3: Promote advancements in R&D for cancer treatments
Policy action 5.4: Holistic technological approach for personalised therapy
Policy action 5.5: G20 level regulatory reforms for emerging approaches in cancer management
Policy action 5.6: Create a G20-level collaboration channel for cancer
TECHNOLOGY, INNOVATION AND R&D (CONT)
RECOMMENDATION
Recommendation 6: Create a G20 knowledge-sharing forum and charter on information exchange for medtech professionals to address neurodegenerative and agerelated health diseases
Recommendation 7: Establish a Council for Earth Observation, constituting central space agencies and ecosystem, research bodies and academia to leverage space technology with a focus on water conservation and regenerative agricultural practices
POLICY ACTION
Policy action 6.1: Develop a comprehensive charter for the forum
Recommendation 8: Collaborate to create a standardised certification process and accountability matrix for all autonomous multivendor mobility solutions
Policy action 7.1: Identify a defined set of earth observation data that can be freely shared among G20 nations to encourage innovative pilot projects and early adoption of solutions
Policy action 7.2: Create a programme to identify impactful last-mile solutions and drive adoption by leveraging the network of relevant government agencies
Policy action 8.1: Conduct a detailed study of all emerging autonomous mobility solutions such as autonomous vehicles, industrial autonomous robotics system (ARS), drones, etc, to derive criteria and parameters that need protocols, standards and policy management. The study should also evaluate accountability formulae for multivendor solutions.
Policy action 8.2: Create a comprehensive policy and guidelines document for autonomous multivendor mobility solutions to address quality, safety, security, accountability, roles and responsibilities and sustainability impact areas
Policy action 9.1: Create a supply chain provenance solution to implement a “Digital Material Passport” that tracks materials from their origin to the end. Define the material reusability index with sector-wise standards and certification processes
Policy action 9.2: Constitute research programmes specifically focused on discovering alternative green and reusability processes for currently available materials
Recommendation 9: Promote circular economy and sustainable supply chain practices by facilitating research on alternative materials, traceability of recycled materials and establish global standards for green materials
Recommendation 10: Establish a global standard for green data centres
Policy action 9.3: Collaborate with academia to design a curriculum on circular economy and carbon-conscious manufacturing
Policy action 9.4: Create a marketplace through a public-private partnership to promote green and recycled raw materials through a subsidised cross-border trade channel
Policy action 9.5: Publish an industry specific ESG playbook to promote sustainability practices in the SME ecosystem. Develop and promote an “environmental impact calculator for SMEs” with industry benchmarks and insights
Policy action 10.1: Identify ideal data centre locations based on efficiency criteria such as clean energy sources, resource-sharing opportunities, locational resilience to natural disasters
Policy action 10.2: Promote efficient utilisation of resources through mandating waste heat recovery, water-conscious cooling systems, etc
TECHNOLOGY, INNOVATION AND R&D (CONT)
RECOMMENDATION
Recommendation 11: Create a collaborative centre of excellence to promote the usage of biomaterial and bioenergy
Recommendation 12: Establish a G20 innovation body with the capacity to fund and incubate start-ups in G20 nations
POLICY ACTION
Policy action 11.1: Establish a biomaterial marketplace to facilitate sourcing, procurement and trade of raw materials and industrial equipment
Policy action 11.2: Incentivise production and consumption of biofuels and invest in building a sustainable biofuel supply chain as an alternative energy source
Policy action 12.1: Create a G20 pool of initial investment to fund start-ups and incubations that are innovating on unaddressed G20 challenge areas. Facilitate joint innovation and partnership business models among G20 nations.
Policy action 12.2: Create special innovation zones within the G20 nations and establish incubation labs to deliver proof of concepts on G20 focus area use cases
Policy action 12.3: Create a regulatory sandbox for “Innovation Corridor” with a framework allowing businesses, particularly startups, to test new products or services in a controlled environment
Policy action 12.4: Establish a commercial infrastructure enabling access to capital, research and development facilities and market access to support the growth of innovative businesses
Policy action 12.5: Establish education and training programs to continuously build the capacity of future skills required for the advancement of tech, innovation and R&D
Policy action 13.1: Identify women-led start-ups with higher potential to impact G20 priorities and extend seeding investments
Recommendation 13: Create a G20-level programme to enhance opportunities for women in science, technology, engineering and mathematics (STEM) and prioritise funding of women-led start-ups
Recommendation 14: Establish a Centre of Excellence for Human Centered Design that leverages advanced technologies to reinvent design that is closely integrated into sustainable solutions of the future
Policy action 13.2: Introduce mentorship programmes to provide opportunities to women scientists, engineers and technologists to undertake research in premier institutes
Policy action 13.3: Implement targeted scholarship and grant programs specifically for meritorious women pursuing STEM education
Policy action 13.4: Build bridge programs through industry partnerships with tech companies to create collaborative open innovation opportunities for women
Policy action 14.1: Create a design curriculum in keeping with the technology progress and integrate it with STEM education
Policy action 14.2: Formulate design standards and certification process (where applicable) following a comprehensive study of futureready solutions across industry segments
Policy action 14.3: Establish “futuristic design” grants to encourage human-centric product development and frugal innovation
Policy action 14.4: Create a programme to promote innovative design in the MSME sector
Policy action 14.5: Publish Society 5.0 playbook for a social design that propels innovation with inclusive and integrated progress
Policy action 14.6: Extend technology capabilities to preserve and promote a creative culture within the arts and crafts industry
FUTURE OF WORK, SKILLING AND MOBILITY
RECOMMENDATION
Recommendation 1: Fostering inclusive and sustainable growth in transforming the world of work
POLICY ACTION
Policy action 1.1: Promote responsible and ethical use of technologies to drive equitable economic opportunities
Policy action 1.2: Support growth in emerging sectors by bringing together the right combination of jobs and skills
Policy action 1.3: Promote inclusivity and flexibility at the workplace to foster equality
Policy action 1.4: Ensure mental well-being of the workforce
Policy action 1.5: Empower SMEs, startups and women-led enterprises to drive economic growth
Policy action 1.6: Bridge the formal-informal workforce divide for a more inclusive economy
Policy action 1.7: Foster an enabling environment for businesses to grow, thrive and innovate
Policy action 1.8: Dialing up the role of public-private partnerships
Policy action 2.1: Predicting the skills needed for the future of work using a technology-driven
Policy action 2.2: Leverage technology to minimise the gap between skilling and jobs of tomorrow
Policy action 2.3: Expand the scope of digital skills libraries
Recommendation 2: Accelerate workforce skilling to adapt to changing industry demands
Recommendation 3: Boost global workforce mobility to match skill demand with supply
Policy action 2.4: Develop employable skills through education
Policy action 2.5: Partner with private entities to enhance workforce skills
Policy action 2.6: Promote continuous learning and upskilling through lifelong learning
Policy action 2.7: Develop green skills for sustainability and adapting to climate change along with skilling for the silver and care economy
Policy action 3.1: Remove policy barriers to enable cross-border mobility
Policy action 3.2: Leverage technology to enable cross-border mobility
Policy action 3.3: Build a universal labour information management system (ULIMS)
Policy action 3.4: Domestic actions to enhance cross-sector mobility
ENERGY, CLIMATE CHANGE AND RESOURCE EFFICIENCY
RECOMMENDATION
Recommendation 1: Enhance global cooperation in accelerating the net zero transition
Recommendation 2: Enhance efforts to improve the availability of and access to climate finance
Recommendation 3: Ensure just, equitable and resilient transition
Recommendation 4: Create enabling regulatory frameworks, policies, business and financing models and eliminate policy barriers for promoting a sustainable economy and resource efficiency
POLICY ACTION
Policy action 1.1: Accelerate development and commercialisation of clean energy technologies through coordinated policies and expanded pipeline of clean energy projects
Policy action 1.2: Institutionalise and support industry collaborations to drive the net-zero transition
Policy action 1.3: Develop clear and bold pathways to decarbonise the ecosystem and supply chains in line with the Paris Agreement
Policy action 2.1: Introduce new and expanded low-cost financing options for energy transition by boosting and repurposing public finance, improving delivery channels and promoting local institutional capabilities
Policy action 2.2: Establish a clear mandate for multilateral development banks to support energy transitions through reforming operations, governance, risk tolerances and fund alignment to provide concessional finance to emerging countries
Policy action 2.3: Develop harmonised international carbon markets for monitoring and reporting emissions, accounting, transparency and environmental integrity
Policy action 2.4: Secure investments in emerging technologies through public-private partnerships and cooperation between developed and developing nations
Policy action 3.1: Achieve a just transition and ensure affordable energy access through a balanced approach to energy transition and via diversification, reskilling and employment opportunities for all
Policy action 3.2: Address gender equality and just transition for MSMEs dependent on larger producer companies facing phase down or transition
Policy action 3.3: Promote nature-positive transitions through biodiversity conservation and integrating ecosystem-based approaches (into adaptation planning
Policy action 4.1: Calibrate and harmonise national and international policy frameworks to mainstream resource efficiency considerations and drive transition to a circular economy
Policy action 4.2: Mobilise and allocate finance through instruments such as taxes, subsidies and tax exemptions to support innovation and the uptake of circular business models
Policy action 4.3: Strengthen Extended Producer Responsibility (EPR) for all waste systems and promote resource efficiency through Green Public Procurement (GPP)
Policy action 4.4: Mainstream the informal sector within the waste management framework
ESG IN BUSINESS
RECOMMENDATION
Recommendation 1: Adopt universally adaptable ESG standards and disclosures that are comprehensive, transparent, inclusive and equitable
Recommendation 2: Establish ESG implementation pathways to accelerate the adoption of responsible and sustainable processes
Recommendation 3: Augment ESG governance
Recommendation 4: Drive business resilience and disaster management through a robust framework
POLICY ACTION
Policy action 1.1: Adopt a standard set of definitions/taxonomies through harmonised ESG frameworks for disclosures and reporting and ensure transparency in rating methodologies
Policy action 1.2: Integrate ESG processes in supply chains
Policy action 2.1: Regulators to agree on and mandate the implementation of a common policy and regulatory framework for standards and disclosures that adopts a phased approach
Policy action 2.2: G20 nations and businesses to incentivise the adoption of sustainable elements in the conduct of business
Policy action 3.1: Establish a clear ESG governance framework with desired mechanisms and disclosures
Policy action 3.2: B20 will create a common knowledge sharing and capacity-building platform on ESG good practices, especially to deepen consumer awareness and perceptions
Policy action 3.3: Promote ethical leadership and practices to exemplify ESG compliance leadership
Policy action 4.1: Design and implement a resilience framework with a focus on adaptation and strengthening of value chains, including agricultural supply chains and food security
Policy action 4.2: Create a collaboration platform, such as a Centre of Excellence (CoE), to harness strategic and forward-thinking on resilience and adaptation
Recommendation 2: Promote sustainable and resilient trade & investment
Policy action 1.1: Strengthen the multilateral trading system by restoring and reforming the WTO Dispute Settlement Body (DSB), ensuring the effectiveness of its notification, monitoring and consultation systems and formally engaging the private sector in a meaningful way in WTO committees and in trade policy-making processes.
Policy action 1.2: Uphold current agreements and advance new multilateral and plurilateral agreements that liberalise trade in goods and services and limit potential future barriers.
Policy action 2.1: Promote internationally accepted methodologies for carbon product footprint calculation and reporting, taking into consideration different sectoral requirements. Agree on good regulatory practices and interoperable taxonomies for the establishment by countries or trade blocs of environmental measures, such as industrial policies to foster sustainability and carbon border adjustment measures.
Policy action 2.2: Initiate a process to review unilateral restrictive trade policies implemented by G20 countries in the past three years. This review should consider concerns brought by private sector representatives to their respective governments and to multilateral and plurilateral organisations that provide technical assistance to the WTO.
Policy action 3.1: Adopt digital document standards for customs clearance, accelerate the international coordination for cross-border flow of electronic information related to trade transactions, facilitate the interoperability of standards and protocols for data exchange, while ensuring the protection of businesses’ confidential information.
Recommendation 3: Make trade & investment more efficient
Policy action 3.2: Increase access to trade finance and export finance by facilitating the digitalisation of trade and trade financing, including the establishment of an enabling regulatory framework for trade financing and by strengthening government export programmes to support least developed countries’, micro, small and medium-sized enterprises’ and women’s access to international trade
AFRICAN ECONOMIC INTEGRATION
RECOMMENDATION
Recommendation 1: The G20 should support Africa’s ambition to strengthen human capital outcomes, with particular emphasis on gender equality, health and education
Recommendation 2: The G20 should introduce new or support existing initiatives to sustainably transform the agriculture sector in Africa through empowering smallholder farmers and increased mechanisation
Recommendation 3: The G20 should support the structural transformation of Africa through initiatives that encompass three key policy actions around industrialisation, MSME enablement and universal electricity access
Recommendation 4: The G20 should enable existing and introduce new trade facilitation initiatives for intracontinental and global integration of the African single market
Recommendation 5: The G20 should support the African Union’s vision of improving physical and digital connectivity, through developing the continent’s transport and ICT infrastructure
Recommendation 6: The G20 should facilitate coordination and channelisation of resources towards customised initiatives for African nations, driven by need and demand from within the continent
POLICY ACTION
Policy action 1.1: Enable mobilisation of private capital in the health sector in Africa
Policy action 1.2: Support formulation of national education strategies and plans to improve primary, secondary and tertiary education outcomes
Policy action 2.1: Set the base for agricultural transformation through farmer education initiatives, ensuring the availability of high-quality inputs and promoting sustainable and climate-friendly agricultural practices
Policy action 2.2: Accelerate farming productivity through increasing penetration of irrigation systems, driving adoption of mechanised solutions and technologies and creating a global market for African agri-products
Policy action 2.3: Enable access to capital across the larger value chain and empower African nations to meet CAADP targets and respond to the effects of climate change
Policy action 3.1: Support industrialisation through facilitating private investment and technology adoption
Policy action 3.2: Support the growth of MSMEs in Africa, specifically through formalisation and improving access to finance
Policy action 3.3: Accelerate the pace of enabling universal electricity access in Africa, with a focus on driving investments in renewable energy
Policy action 4.1: Maximise the potential of AfCFTA through initiatives accelerating its implementation and supporting intra-continental trade in Africa
Policy action 4.2: Accelerate universal access to affordable highspeed broadband and internet infrastructure. Empower the private sector to build digital capabilities and foster an enabling ecosystem for digital businesses
Policy action 5.1: Bridge the transport and ICT infrastructure financing gap by facilitating an increase in private finance and FDI
Policy action 6.1: Set up a G20 Centre on African Economic Integration that would act as a nodal point in identifying opportunities to accelerate economic integration of Africa and would bring a concerted effort to channel multiple or fragmented development initiatives
DIGITAL TRANSFORMATION TASK FORCE
RECOMMENDATION
Recommendation 1: Achieve meaningful connectivity for individuals and businesses
POLICY ACTION
Policy action 1.1: Accelerate the rollout and use of ICT infrastructure by promoting regulatory modernisation and public-private partnerships that encourage investment, collaboration and fair competition, such as licensing models that favour commitments to infrastructure expansion, optimised universal service funds and demand-side support initiatives (eg, government-funded connectivity).
Policy Action 1.2 : Address digital skills gaps across levels and demographic groups to promote the development of a digitally-literate population and digital-ready workforces and entrepreneurs capable of leveraging digital technology with trust, supporting the transformation of businesses and adapting to technological disruptions.
Policy Action 1.3: Promote the digital transformation of micro, small and medium enterprises through access to sustainable finance, a supportive regulatory environment and specialised support.
Policy action 2.1: Foster multilateral cooperation to improve international cyber action, from incident prevention, identification and containment to investigation and legal action, leveraging harmonised cybersecurity and cyber resilience standards.
Recommendation 2: Safeguard individuals, organisations and promote digital trust
Recommendation 3: Responsibly harness the transformative power of artificial intelligence
Policy action 2.2: Make progress on Data Free Flow with Trust by building on prior consensus while tailoring the approach to the G20 members to enable innovation, economic growth and social wellbeing while building trust on a global scale.
Policy action 3.1: Strengthen international collaboration and scale up frameworks grounded on a risk-based, pro-innovation approach for responsible AI development, deployment and governance to keep pace with the rapidly evolving technology and regulatory landscape
Recommendation 1: Accelerate private capital deployment at scale to facilitate the transition to a lowcarbon sustainable economy
Policy action 1.1: Review the role of public sector development finance (multilateral development banks, development finance institutions and official development assistance) to enhance their capital allocation efficiency for climate finance by making private capital mobilisation a central objective of their operations to unlock private sector investments at scale. The focus for these institutions should shift from balance sheet deployment to leveraging their resources and local expertise to crowd in private sector capital at initial project diligence and funding phase as well as throughout the subsequent stages of the project’s lifecycle (post funding)
Policy action 1.2: Enhance private capital investment in climate solutions in EMDEs through regulatory capital and rating agency policy reforms to help achieve consistent treatment of transactions across jurisdictions, recognition of the risk mitigating features of blended finance and de-risking strategies which will allow for increased targets on capital allocations for climate finance in emerging markets and developing economics
FINANCE & INFRASTRUCTURE TASK FORCE
Table 9: Brazil 2024 B20 recommendation and policy actions
RECOMMENDATION
Recommendation 1: Prepare a resilient & productive workforce for the future of work
Recommendation 2: Ensure a diverse, inclusive and adaptable workforce
Recommendation 3: Foster innovation and sustainable growth
POLICY ACTION
Policy action 1.1: Enhance relevance and quality of basic / K12 education31 and VET32 for the future workforce to develop employable and entrepreneurship core skills by updating teachers’ development, digital literacy and sustainability skills and by engaging business in mapping competency gaps and designing new curricula.
Policy Action 1.2: Foster reskilling and upskilling to close the talent scarcity gap and reduce skills mismatch, especially in digital and green proficiency, by developing financial incentives to promote programmes and setting guidelines and frameworks to roll out workintegrated learning solutions and to facilitate the recognition of skills.
Policy action 2.1: Promote diverse and inclusive work environments by implementing reward regulations for companies to promote access to work and career progression opportunities for underrepresented groups and by strengthening financial incentives to support care provisions.
Policy action 2.2: Support the transition of workers into the formal economy by adapting regulatory frameworks to recognise alternative and future forms of work and the impact of technology on jobs; and facilitate job mobility by establishing international tax frameworks, labour information systems and standards for safe and regular migration.
Policy action 3.1: Accelerate innovation in strategic areas and foster scientific and technological development by creating shared research and digital infrastructure, engaging higher education and VET institutions with the business and increasing and facilitating access to government funding.
Policy action 3.2: Actively support entrepreneurship and MSMEs to drive sustainable growth and job creation by developing regulatory measures to improve access to funding and competitive credit and by providing support to foster R&D solutions that drive innovative economic growth.
ENERGY TRANSITION & CLIMATE TASK FORCE
Policy action 1.1: Devise policy schemes, regulations and incentives to triple renewable energy capacity by 2030, expand grid infrastructure and accelerate broad electrification, aiming to ensure just, responsible, efficient and reliable access to energy towards the Paris Agreement targets achievement
Recommendation 1: Accelerate the development and use of renewable and sustainable energy solutions
Recommendation 2: Double energy efficiency and promote resource efficiency and circular economy
Recommendation 3: Promote effective natural climate solutions to mitigate climate change and enhance biodiversity
Policy action 1.2: Establish mechanisms and initiatives to leverage sustainable bioenergy and biofuel potential and readiness for decarbonisation, accelerating the achievement of net zero emissions while safeguarding food security
Policy action 1.3: Enable expansion of other solutions necessary for the transition to net zero emissions, such as Carbon Capture, Utilization and Storage (CCUS), clean hydrogen and nuclear power.
Policy action 2.1: Double the average global annual rate of energyefficiency improvement through to 2030 by evolving policies on technical efficiency, investment programmes and measures to increase public awareness.
Policy action 2.2: Promote efficient use of global resources and circular economy by developing policies considering the entire materials’ life cycle and fostering financing and awareness programmes to enhance the adoption of circular practices.
Policy action 3.1: Ensure a thriving Natural Climate Solutions global market by 2030, widening protection and restoration projects and scaling the international carbon market
