Prime Minister Tony Abbott talks about the partnership between the G20 and B20 during Australia's G20 host year in his closing G20 press conference:
"I should also point out that we worked very closely all year but including at this conference over the weekend with the B20. I don't believe there has ever been such close partnership between the G20 and the B20. And there was a very good reason for that because, in the end, if we want better communities and a stronger society, as we all do, we need stronger economies to sustain them and we won't get stronger economies without stronger and more profitable private businesses.
I think it's that partnership with the B20 which has helped to make this G20 a success. I really do. And at the beginning of the very first session we were addressed by Richard Goyder, Australia's B20 chairman, and Richard pointed out that right around the world there are cashed up businesses. There are many, many cashed up investors, they want the confidence to invest and this G20 is all about giving them the confidence that will unleash that capital, unleash that investment and then unlock the growth and the jobs, which have been eluding us for the last five or six years."
The B20 has welcomed G20 commitments to implement an
ambitious structural reform agenda which will lift global GDP by more than two per cent above expectations over the next five years and create millions of new jobs.
Last night, a business delegation representing 18 countries met with a number of G20 leaders to deliver a simple message on Behalf of the international business community – create the right policy settings and business will invest to drive growth and create jobs.
The B20 is calling on G20 leaders to commit to a bold reform agenda and ambitious individual country growth strategies when they meet in Brisbane at the annual G20 Leaders Summit this weekend.
The B20 and L20 have written a joint letter to Prime Minister Tony Abbott ahead of the G20 Leaders Summit in Brisbane next week.
|NOVEMBER 2014||http://www.b20australia.info/brisbane-summit/b20-latest-news||11/3/2014||Steve Sargent, President & CEO, GE Mining and Coordinating Chair, B20 Human Capital Taskforce|
Closing the gender gap in workforce participation is fundamental to driving sustainable global growth. The B20 fully supports the target outlined in The Australian today for Australia to reduce the gender gap by 25 percent by 2025, and urges G20 member nations to support this pledge.
As one of 20 recommendations made by the B20, we are encouraging the G20 to undertake structural reforms to increase flexibility, adaptability and mobility within and across labour markets. Female participation is an important part of this. Closing the gap between male and female employment rates can lead to increased GDP - on some estimates, by 24 per cent in Italy, 21 per cent in Japan and 12 per cent in Germany.
Action must be taken to ensure women are appropriately skilled, and have the capability, flexibility and adaptability to participate in the workforce of today and the workforce of the future. This includes removing barriers that inhibit jobs growth and employment such as excessive red tape and poor access to childcare so that G20 member nations can support an environment of increased participation.
Without continued investment in working people, countries will be unable to fully realise the potential of trade and infrastructure investments or increase the quantity and quality of both the labour force and employment opportunities, which in turn drive continued productivity and sustainable economic growth.
The B20 calls on governments to continue to undertake labour market reforms and to commit to enabling greater workforce participation by women globally.
Business leaders have welcomed G20 commitments in Washington last week to progress a Global Infrastructure Centre or Hub as a mechanism to support the Global Infrastructure Initiative agreed by G20 Finance Ministers and Central Bank Governors in Cairns last month.
Business leaders are calling on the G20 to progress the Global Infrastructure Initiative agreed by G20 Finance Ministers and Central Bank Governors in Cairns in September when they meet again in Washington this week.
Telstra CEO David Thodey and ACOSS CEO Cassandra Goldie, B20 and C20 Infrastructure Taskforce co-chairs respectively, yesterday hosted a discussion on infrastructure with a number of Australian community and business leaders in advance of the G20 Leaders Summit in Brisbane in November.
1. agreed that infrastructure investment could address some of the challenges facing G20 nations in meeting their growth targets
2. agreed that infrastructure investment could also deliver important economic, social and sustainable outcomes for all communities, if managed and implemented in the right way. Infrastructure investment, it was confirmed, was critical to delivering strong communities, inclusive growth, reducing poverty and raising living standards, and in job creation, especially at the local level and for young people.
3. agreed that bringing together the expertise of business, civil society and unions and community would result in more effective and efficient decision making for infrastructure delivery noting also the importance of acting within an ethical framework and the rule of law of host nations.
4. shared the aspiration for the Global Infrastructure Centre and
• supported its mandate for the identification and promotion of leading practices, thought leadership, development and sharing of model documentation, benchmarks and standards, including community engagement practice.
• recognised the need to adhere to agreed international principles for long term investment
• recognised the infrastructure project management could be the impetus for raising standards within particular settings.
In the context of Australia:
1. noted that regulatory complexity could generate significant delays in project development resulting in additional costs. The Taskforces further noted the impact of such challenges on housing affordability in the Australian context.
2. agreed on the importance of transparency across the whole infrastructure process, noting its relationship to procurement practices for the quality of project delivery, value for money outcomes and building community trust and confidence.
3. agreed on the importance of community engagement and alliance building early in the process as critical to the success of infrastructure projects
4. noted that, as part of good practice, contractual provisions could be used to deliver job creation and training and education outcomes, particularly for young people and for local communities.
5. noted that technological innovation and digital solutions could potentially drive much greater infrastructure efficiency dividends.
6. agreed about the importance of the tripartite engagement and to continue to work collaboratively to support this approach.
The B20 welcomes G20 commitments to increase economic growth and lift employment through quality investment, including the establishment of a Global Infrastructure Initiative and a commitment to finalise and implement consistently the global financial regulatory reform agenda.
B20 leaders have called on the G20 to commit to an ambitious policy reform agenda that would drive economic growth and create jobs.
The B20 is calling for clear, practical and measurable actions to be included in the G20 Employment Plans which will be discussed at the upcoming G20 Labour and Employment Ministers meeting.
Today marks 100 days until the G20 Leaders Summit opens in Brisbane. In the lead up to the Summit, the B20 community is focused on advocacy and is working with policy makers across the G20 to see how B20 recommendations can be implemented.
Yesterday, Richard Goyder B20 Australia Chair delivered the final B20 policy recommendations to the G20 Presidency through the Prime Minister, Tony Abbott, ahead of an address to the National Press Club in Canberra.
In his address, Mr Goyder said the focus of the B20 in 2014 had been on global economic growth and job creation.
“The B20 looked at the most significant impediments to growth and job creation through taskforces established around four policy areas: financing growth, human capital, infrastructure & investment and trade,” Mr Goyder said.
“More than 300 business leaders from over 30 countries have been meeting since the end of last year to develop a set of policy responses to these global challenges.
“Last month, the B20 hosted the most significant business gathering ever held in Australia with more than 400 senior executives and policy makers.
“The result of this work is 20 mutually reinforcing recommendations for G20 leaders which if adopted, would not only meet, but exceed the two per cent growth target set by G20 Finance Ministers in February.
“If G20 countries commit to implementing the reforms, the gains will be large, but a failure by any country to commit creates a significant opportunity cost.
“For example, the four trade recommendations could lead to $3.4 trillion in GDP which is akin to adding another Germany to the world’s economy. Similarly, closing the infrastructure gap of $15-$20 trillion by 2030 could create 100 million new jobs and $6 trillion in economic activity.”
Mr Goyder said that this was not a case of business putting its hand out but saying, put these policies in place and business will invest, innovate, employ people and take risks.
“Business and government need to work together to achieve the two per cent goal,” Mr Goyder said. “Business leaders have an important role to play as champions of the B20 recommendations and as the drivers of global economic growth.”
A full transcript of the speech is available https://b20australia-public.sharepoint.com/Documents/Transcript%20-%20GOYDER%20RICHARD%20TUES%205%20AUGUST%202014.pdf
This week, B20 Sherpa Robert Milliner is in India meeting with policy makers, business leaders and other key stakeholders to discuss how B20 recommendations might be implemented locally.
Later this month, he will travel to Brazil and Argentina and in September he will head to China and Turkey to continue his advocacy work.
With the B20 Australia Summit now finished, the focus has turned to advocacy. The B20 community is working with policy makers across the G20 to see how B20 recommendations can be implemented.
The advocacy program will run until the November G20 Leaders Summit in Brisbane and will be delivered in three streams:
• Domestic and international business associations using the B20 recommendations as a basis for discussions on policy reform with their home and other G20 governments
• Taskforce members, Summit participants and members of the B20 community acting as champions of B20 recommendations in meetings with their home governments and communities
• The B20 Chair, Taskforce and Working Group Chairs or B20 Sherpa travelling to selected G20 countries to discuss B20 recommendations with business governments
This week, B20 Australia asked the community to support the program by increasing awareness of the value of the G20 adopting B20 recommendations. The full communication is available here: http://us3.campaign-archive2.com/?u=b4c66308081effa14d520fb51&id=5ae5d4209d
If B20 recommendations are implemented by governments, the G20 will not only reach, but exceed its additional two per cent growth target by 2018.
Two documents will support the first phase of the advocacy program:
1. The full B20 policy recommendations: http://www.b20australia.info/Latest%20Documents/Driving%20growth%20and%20jobs%20-%20B20%20policy%20recommendations%20to%20G20.pdf
2. A brief document outlining the advocacy messages from the B20 to the G20: http://www.b20australia.info/Documents/B20%20Key%20Messages%20and%20Recommendations.pdf
The B20 will discuss these documents with policymakers, G20 officials and their communities, particularly the recommendations that are most relevant to their country.
Key messages from the B20 to the G20
1. The urgent goal is growth and jobs. Now that the global financial system has been stabilised, the core question facing our leaders is how to increase the slow rate of economic growth and create jobs to lift living standards around the world. There is no room for complacency.
2. G20 is the right forum to pursue this goal. The G20 is the only forum capable of achieving the coordinated action necessary to drive and shape the global economy.
3. G20 has set a realistic and necessary growth target. The G20 target of lifting collective GDP by two per cent above the trajectory implied by current policies over the next five years is therefore entirely appropriate, but the question is how to achieve that target?
4. B20 has identified policy principles to meet the target. Business has looked at the major impediments to growth and jobs creation and believes that policies are needed to ensure greater structural flexibility and freedom of movement across borders of goods, services, labour and capital within an effective regulatory framework which promotes transparency and credibility in commerce.
5. B20 recommendations require collective agreement and unilateral action by the G20. The B20 has developed twenty recommendations for action consistent with these principles that will promote economic growth and jobs, but to be effective they require collective agreement by the G20 for unilateral action by each member country.
The international business community has laid out a blueprint for G20 leaders to promote global economic growth and employment outcomes and make the global economy more
resilient to deal with future shocks.
Mr Richard Goyder, B20 Australia Chair and Managing Director and CEO of Wesfarmers, said the B20 Australia Summit had brought together nearly 400 business leaders and policymakers to finalise and prioritise a set of Recommendations for G20 leaders that drive growth and create jobs.
“The result of this work is a set of 20 mutually reinforcing recommendations for action by G20 leaders,” Mr Goyder said. “Our analysis suggests that if these were adopted, the G20 would not only meet, but exceed the two per cent additional growth target set by G20 Finance Ministers in February.”
The Business Council of Australia has issued a media release welcoming the B20's final policy recommendations:
“The B20’s recommendations presented to the Australian Government provide clear and actionable measures governments should take to remove significant barriers and impediments to growth,” said Business Council of Australia President Catherine Livingstone.
“These recommendations are absolutely vital to restore growth globally, and put us on track to meet the two per cent above business-as-usual targets over the next five years,” Ms Livingstone said.
Today, the B20 Australia Summit brought together international business leaders from G20 countries to discuss and prioritise B20 policy recommendations.
Prime Minister of Australia, Tony Abbott officially opened the B20 Summit with a keynote address which highlighted the G20 goal of increasing economic growth by two per cent above trend over the next five years and the importance of the B20 in realising this goal.
Neal M. Soss, Vice Chairman Research Investment Banking Credit Suisse Group AG and Elmer Funke Kupper, Managing Director and CEO ASX Limited then shared their views on the global economy: Dr Soss said ‘the economy is too important to leave entirely to the markets but rules need to be coherent so as not to penalise productivity unnecessarily in the financial services sector’.
A panel session on the role of business in shaping public policy, hosted by President of the Business Council of Australia and Chair Telstra Corporation Ltd, Catherine Livingstone followed.
Ms Livingstone said governments can’t achieve good policy without collaboration with business and the community.
Rupert Murdoch AC, Executive Chairman News Corporation, Chairman and CEO 21st Century Fox agreed. He called for urgent immigration reform, saying 40 per cent of America’s Fortune 500 were founded by immigrants or children of immigrants.
Alexander N. Shokin, President Russian Union of Industrialists and Entrepreneurs said business must advocate in the court of public opinion, and that business also needs policy credibility in the public perception.
Ben van Beurden, CEO Royal Dutch Shell plc called for business to ensure their intentions are in the public interest, and highlighted the importance of clear communication. “Honesty and transparency will prevail,” Mr Beurden said.
Day one of the B20 Australia Summit also included a press briefing with Ertharin Cousin, Executive Director World Food Program, who said business should invest in opportunities in economic growth for the most vulnerable.
Tomorrow delegates to the Summit will have the opportunity to discuss G20 priority areas not covered by the B20 in 2014 including food security and the digital economy.
Photo and video highlights will be available throughout the B20 Australia Summit via the links below:
Today, the B20 Australia Summit opened in Sydney with a keynote address from The Prime Minister of Australia, Tony Abbott. Mr Abbott discussed the G20 goal of increasing economic growth by two per cent above trend in the next five years, and how the B20 can help realise this goal. Mr Abbott said the G20 can do more based on input from the B20 and that economic growth is key to addressing almost every global problem.
B20 Chair Richard Goyder welcomed B20 Summit attendees from across G20 countries. Mr Goyder said the G20 is a critically important decision-making body, and recognised the role for business to shape and implement the G20 agenda. He said that the B20 Summit is ‘the most significant gathering of business leaders in Australia ever’.
The B20 Australia Summit will see international business leaders finalising and prioritising B20 policy recommendations and handing them to G20 leaders on Friday, 18 July.
Photo and video highlights will be updated frequently and available throughout the B20 Australia Summit via the links below:
Senior business leaders from across the G20 are arriving in Sydney ahead of the B20 Australia Summit where they will discuss, finalise and prioritise a set of policy recommendations for G20 leaders that drive global economic growth and create jobs.
The B20 leads engagement with the G20 on behalf of the international business community. It brings together international and domestic business groups, multinationals, regional and domestic businesses to develop practical recommendations to help guide G20 commitments from year to year.
B20 Australia Chair, Mr Richard Goyder AO, said the B20 had been focused this year on developing practical solutions to help accelerate global economic growth and create more jobs.
“Structural reforms are needed across all markets to boost employment and prospects for diversified and sustained growth,” Mr Goyder said. “We need policies that increase the private sector’s capacity for investment, boost international trade, create jobs and drive greater efficiency across all sectors.”
The B20 Australia Summit is set to open in Sydney next week. It will be held over three days from 16-18 July and will bring together international business leaders to discuss, finalise and prioritise B20 recommendations ahead of the November G20 leaders Summit in Brisbane.
Delegates to the Summit will also have the opportunity to discuss G20 priority areas not covered by the B20 in 2014 including energy security, food security and the digital economy and there will be sessions to explore global investment opportunities, the role of business in shaping public policy and international trade.
The Summit will attract a large contingent of senior business leaders from all G20 member countries who have starting arriving to participate in a range of events during the week, including the G20 Trade Ministers which immediately follows the B20 Australia Summit on Saturday. Ministers and senior officials participating in the G20 Trade Ministers Meeting will also attend parts of the Summit.
A list of some of the activities taking place around the Summit is available here: https://b20australia-public.sharepoint.com/Latest%20Documents/External%20events%20to%20B20%20Summit.pdf
As the B20 Australia Summit draws closer, the team has been engaging with key stakeholders and other G20 engagement groups to share draft B20 policy proposals. Last Friday, the B20 Chair Richard Goyder and B20 Sherpa, Robert Milliner spoke at The G20 agenda for growth: Opportunities for Small to Medium Sized Business Conference. Robert told the conference that the issues facing Australian SMEs were largely similar to those faced by businesses in other G20 countries such as regulatory burdens, access to finance, taxation and employment flexibility. He said that domestic structural reforms were needed to create the right environment for increased investment and trade to drive global economic growth and employment outcomes. Richard said that youth unemployment was the burning platform and that the G20 was more relevant than ever in the current economic environment.
Over the weekend, Robert Milliner joined a panel discussion – ‘What’s in it for me?’, at the C20 Summit with the other G20 engagement groups. It’s clear that the engagement groups have been focusing on a number common interests and issues in developing their recommendations for G20 leaders such as infrastructure development and youth employment. Robert then addressed a meeting of G20 Sherpas and Finance Deputies who were meeting to discuss their comprehensive growth plans. Robert told the group that the B20 would be asking the G20 to both take coordinated and agree to individual action in a number of areas, including investment and trade. He said B20 recommendations were policy proposals that, if implemented, would support attaining the G20 target of 2% growth above trend over the next five years.
Tomorrow, Robert Milliner will speak at the Lowy Institute’s ‘G20: Meeting Global Challenges? – Strengthening the G20’s Accountability and Effectiveness’, Conference in Melbourne.
Today marks one month until the B20 Australia Summit opens in Sydney.
The Summit, to be held from 16-18 July, will bring together international business leaders to discuss, finalise and prioritise a set of policy recommendations for G20 leaders ahead of the November G20 Leaders Summit.
Delegates will also have the opportunity to discuss G20 priority areas not covered by the B20 in 2014 including energy security, food security and the digital economy and there will be sessions to explore global investment opportunities, the role of business in shaping public policy and international trade. For more information on the program, including a list of speakers, please see our program page: http://www.b20australia.info/Pages/Program.aspx
The B20 team is in the final stages of planning for the event, so if you’re planning on travelling to Sydney for the Summit and have not yet registered, please use one of the following links:
Summit delegates: https://b20.centiumsoftware.com/ei/cm.esp?id=7&start=eiscript&cd=52666&pageid=DELLOGIN
If you have any questions, please contact the team on email@example.com
. We look forward to seeing you next month!
The B20 Australia team
B20 Australia Summit delegates are invited to attend the Australian Chamber of Commerce and Industry’s Women’s Empowerment Principles: Equality mean business event, which is being delivered in partnership with the Australian Human Rights Commission, UN Women, UN Global Compact, BPW Australia, Corporate Sustainability Australia and the Australian Mines and Metals Association.
This event is being held alongside the B20 summit to bring together business leaders from Australia and across G20 member countries to discuss policy recommendations and implementation processes relating to the inclusion of women in financing growth, human capital, infrastructure and investment, trade and transparency, and how the Women’s Empowerment Principles (WEP) can practically guide and support business to this end.
Wednesday 16 July
The Ivy Ballroom, The Ivy, 320 George Street, Sydney, 2000
11.30 – 14.00
RSVP: 30 June at https://wepevent.eventbrite.com.au
Guest Speakers and Panelists:
• David Thodey, Chief Executive Officer and Executive Director, Telstra
• Kate Carnell AO, Chief Executive Officer, Australian Chamber of Commerce and Industry
• Cassandra Kelly, Joint Chief Executive Officer, Pottinger
• Elmer Funke Kupper, Managing Director and Chief Executive Officer, ASX Limited
• Simon Rothery, Chief Executive Officer, Goldman Sachs Australia
• Elizabeth Broderick, Sex Discrimination Commissioner, Australian Human Rights Commission
• Brent Wilton, Secretary-General, International Organisation of Employers
The day will be facilitated by ABC journalist Virginia Haussegger.
The event is provided by the ACCI Productivity Unit and is free of charge to attendees.
To register please visit: https://wepevent.eventbrite.com.au
For further information contact Imogen Reid Imogen.firstname.lastname@example.org
or (02) 6273 2311
Media registration for the July B20 Australia Summit in Sydney is now open. Media representatives, including journalists, photographers, sound, camera crews and technical staff, can now apply for accreditation.
If you are planning to attend the Summit, you need to complete the registration process by COB 30 June 2014.
To apply for accreditation, click here: https://b20.centiumsoftware.com/ei/cm.esp?id=7&start=eiscript&cd=39427&pageid=MEDLOGIN
The Australian newspaper has previewed the line-up of speakers for the upcoming B20 Australia Summit. See story here: http://www.theaustralian.com.au/business/murdoch-offers-g20-vision/story-e6frg8zx-1226923223678
The Summit will begin with a welcome reception on Wednesday 16 July. A two-day program, with a networking dinner on Thursday night, will follow. The first day will be dedicated to B20 policy deliberations. Delegates will have the opportunity to discuss, finalise and prioritise recommendations prepared by the four taskforces and the anti-corruption working group ahead of handing these to the Australian Prime Minister, Treasurer and Trade Minister as this year’s G20 hosts. The second day will be an opportunity for delegates to explore regional investment opportunities and address other G20 priorities including Food Security, Energy Security, the role for LDCs in global growth and the Digital Economy.
To preview the line-up of speakers, visit the program page on our website: http://www.b20australia.info/Pages/Program.aspx
The B20 looks forward to welcoming business leaders from across the world to Sydney for this important policy forum and networking event.
Today marks two months until the B20 Australia Summit opens in Sydney. The B20 will welcome senior business leaders from across the world to Australia to discuss, finalise and prioritise a set of policy recommendations for G20 leaders. If you would like to participate in the Summit and haven’t received your invitation, please register with us here: http://www.b20australia.info/Pages/Register.aspx
We look forward to welcoming you to Sydney in July to participate in this important policy forum.
Register today to secure your seat!
The annual OECD Forum marked an important step in the B20 policy development process with all four taskforces and the anti-corruption working group meeting in person in Paris this week.
Mr Robert Milliner, B20 Sherpa, said this was the first time the B20 had met as a collective outside the G20 host country and the OECD Forum provided an excellent opportunity to consult with important stakeholder groups.
“Meeting alongside the Forum and Ministerial Council Meeting at the OECD gave us the opportunity to consult with the international business community, the OECD and other organisations on draft policy recommendations ahead of the July B20 Australia Summit in Sydney,” Mr Milliner said.
“Since the outset, we have been committed to running a transparent and inclusive process and holding open meetings at the OECD will help ensure the views of other important groups are accounted for in final B20 recommendations to G20 countries.
“Some taskforce members participated in multiple taskforce meetings; their input across streams will help drive a single narrative which addresses the greatest impediments to global economic growth and job creation.
“For example, infrastructure investment will be a key facilitator of trade growth, particularly for countries ratifying and implementing the WTO Bali Package Agreement on Trade Facilitation.
“We have a detailed work plan until July when 400 business leaders will meet in Sydney at the B20 Australia Summit to discuss, finalise and prioritise policy recommendations for G20 leaders.”
Mr Milliner thanked the OECD for their generous hospitality and providing such valuable insights into policy debates.
“The ability to collaborate with the OECD on common aspects of the G20 agenda has been incredibly valuable and will help shape our final recommendations.
“We have discussed with OECD Secretary General, Angel Gurria, the potential for this strong collaboration between the OECD and the B20 to continue well beyond Australia’s G20 host year.
The B20 is engaging the international business community in the development of policy recommendations for G20 leaders during a series of meetings at the OECD Forum in Paris, France.
The July B20 Australia Summit in Sydney is fast approaching. The Summit will be held over three days from 16-18 July 2014 and will bring together approximately 400 business leaders from around the world. It will be a major policy forum and a valuable networking event.
Invitations are currently being issued for the July B20 Australia Summit in Sydney. If you’re interested in attending the Summit, or just want to learn more about the B20, please register here: http://www.b20australia.info/Pages/Register.aspx
Australia assumed the G20 presidency and its business advisory arm, the B20, on 1 December 2013. The Prime Minister of Australia, the Hon. Tony Abbott MP set a clear agenda for Australia's presidency and has called on the B20 to provide G20 leaders with a set of recommendations to stimulate global economic growth and create jobs.
Taskforces established around four priority areas: financing growth, human capital, infrastructure & investment and trade, are meeting regularly to develop a set of policy recommendations. The Summit will give the international B20 community the opportunity to discuss, finalise and prioritise these recommendations ahead of the November G20 Leaders Summit in Brisbane. Delegates to the Summit will also have the opportunity to explore regional investment opportunities.
The Think20 (T20) has released a progress report on Australia’s G20 Presidency. While there is broad endorsement for the overall objective of having a more focused agenda this year, contributors also suggest that the agenda remains long with ’10 separate and difficult agenda items’ to address.
Like the T20, the B20 strongly endorses the aims Australia has set out for its G20 host year. A more focused agenda that supports the overarching objective of promoting growth and creating jobs is fully aligned to the B20 agenda.
According to B20 Sherpa, Robert Milliner, the B20 has opted for a narrower focus on four priority areas: financing growth, human capital, infrastructure & investment and trade, with the aim of producing a set of practical, actionable recommendations for G20 leaders.
“Through our four taskforces and the anti-corruption working group, the B20 is working to address the most significant impediments to global growth and job creation. We believe that by working collaboratively on the areas that matter most, we can make specific proposals focussed on improving the global economic outlook,” Mr Milliner said.
“The G20 Finance Ministers have set the G20 a very ambitious growth target which will require tough domestic reforms to succeed. We agree with the Treasurer that businesses globally need domestic reforms that tangibly improve the investment environment and so unlock private sector investment, especially in infrastructure.
“We also agree with the T20 that we will need a ‘headline act’ if the G20 is to be seen to have achieved significant progress in 2014 and that incremental changes across a variety of workstreams are harder to quantify.
“From our perspective, bridging the gap in infrastructure investment, removing barriers to trade, improving the allocation of global human capital and completing major financial reforms would all be real achievements from Australia’s G20 year.
“While the T20 is approaching Australia’s host year with cautious optimism, we are definitely more upbeat. We continue an ongoing dialogue with the international business community and G20 representatives and remain confident that Australia’s host year will deliver some concrete outcomes,” Mr Milliner said.
The Think20 2014: Progress report on Australia's G20 Presidency is available here: http://www.lowyinstitute.org/publications/think20-progress-report
The B20 Australia Leadership Group met in Sydney for the second time this year this morning. The meeting was hosted by B20 Australia Chairman Richard Goyder and B20 Sherpa Robert Milliner. G20 Sherpa Heather Smith gave the group an update on the recent G20 Sherpas meeting at Uluru and Secretary of the Department of Treasury Martin Parkinson outlined plans for next week’s G20 Finance Ministers meeting in Washington. Each of the four B20 taskforce coordinating chairs updated the group on their progress – Andrew Mackenzie CEO of BHP on Trade, David Thodey CEO of Telstra on Infrastructure & Investment, Steve Sargent CEO of GE Australia & NZ on Human Capital and Mike Smith CEO of ANZ on Financing Growth. They confirmed they are on track to deliver a set of practical, actionable recommendations to G20 leaders later this year. The group meets again on 27 May.
B20 Australia Chairman Richard Goyder AO today confirmed the B20 is on track to deliver a set of specific, actionable policy recommendations to G20 governments that contribute to the goal of global economic growth and job creation.
Speaking in Sydney ahead of a B20 Australia Leadership Group meeting, Mr Goyder said the B20 had made significant progress since it established taskforces around four priority areas: financing growth, human capital, infrastructure & investment and trade, at the end of last year.
The B20 will hold a series of meetings next month in Paris during the annual OCED Forum. The human capital, infrastructure & investment and trade taskforces and the anti-corruption working group will meet to progress the development of recommendations to G20 governments, and the financing growth taskforce will hold a briefing on its progress to date. It is expected the taskforces will each have agreed a set of recommendations which are close to final by the conclusion of these meetings.
The OECD will host an international business dialogue ahead of the Forum, Better Regulation to Enhance Trade. The objective is to collect input from the global business community on today’s major regulatory impediments to trade and identify the most important areas to improve international regulatory cooperation. The event aims to come up with concrete proposals for addressing the most urgent regulatory obstacles to international trade, from the business perspective. Business leaders who are unable to attend the session on April 14 are still able to participate by completing a short anonymous survey which can be accessed here: http://webnet.oecd.org/Survey/Survey.aspx?s=62e44be7d38249f49385a42a870fa617
More information on the dialogue is available here: http://www.oecd.org/trade/tradedev/international-business-dialogue-2014.htm
G20 engagement groups provide their perspectives on G20 2014 in the latest Lowy Institute G20 Monitor. In a paper titled 'Unlocking private sector led growth and investment' B20 Sherpa Robert Milliner details the B20 approach in 2014.
The second meeting of the B20 CEO Forum brought together more than 60 international business leaders from 14 countries overnight to ensure the B20 agenda is addressing challenges and themes common to G20 member nations.
B20 Australia Chairman, Richard Goyder AO, updated the group on the progress of each of the four policy areas: financing growth, human capital, infrastructure & investment and trade, and invited the group to comment on the process to date.
“The CEO Forum is an integral part of the B20 process. It facilitates the input of senior business leaders from around the world into the policy making process,” Mr Goyder said.
“Since the first meeting of the group in November last year, the B20 has made significant progress towards our goal of preparing policy recommendations for the G20 governments.
“Last night’s meeting gave us an opportunity to test our thinking with this important group and ensure the views of business from across the G20 are represented in the next phase of our work. Importantly, there was broad endorsement of the process being followed and policy themes covered,” Mr Goyder said.
“The geographic, cultural and industry diversity in this Forum will help ensure final B20 recommendations are relevant and effective for all G20 nations.”
Mr Goyder said the B20 is committed to running a transparent and inclusive process which will culminate in the July B20 Australia Summit in Sydney when the recommendations from each of the policy areas is finalised and prioritised ahead of the November G20 Leaders Summit in Brisbane.
“The B20 will harness the strength of the international business community to help Australia deliver concrete outcomes from its G20 presidency.
“The best way to drive strong, sustainable economic growth and create jobs is to work collaboratively on the key areas that will deliver a better environment for investment, the development of infrastructure and trade,” Mr Goyder said.
From today, B20 Australia will start issuing invitations to the July B20 Australia Summit in Sydney. Invitations will be sent out over the course of the next few weeks. If you are interested in attending the Summit, please register here http://www.b20australia.info/Pages/Register.aspx
. Any questions about the registration process should be directed to the team via email email@example.com
In a media release issued on Friday, the International Chamber of Commerce (ICC) said the G20 had made steady progress on business goals since 2011. The third instalment of the annual G20 Business Scorecard revealed a year-on-year improvement in score since ICC’s monitoring began, while still noting that progress remained poor in several crucial areas, including energy and the environment.
Fletcher Building CEO and managing director Mark Adamson has been appointed New Zealand’s representative on the Australian B20 Leadership Group.
Over the weekend, G20 Finance Ministers and Central Bank governors committed to take collective action to lift global economic growth by two per cent above trend. Action will be taken to increase investment, lift employment and participation, enhance trade and promote competition, in addition to macroeconomic policies.
The work undertaken at the meeting builds on the clear agenda set out for Australia’s G20 presidency by the Prime Minister at the World Economic Forum in January.
Mr Richard Goyder AO, B20 Australia Chairman and Managing Director of Wesfarmers said he was encouraged by the outcomes from the first meeting of Finance Ministers and Central Bank Governors in Australia’s host year.
“We are really pleased with the strength of the communiqué; it’s aligned to the work we have undertaken and it reinforces that we are pursuing the right issues,” Mr Goyder said.
The B20 is committed to developing a set of practical, actionable recommendations in four priority areas: financing growth, human capital, infrastructure & investment and trade.
“Taskforces established in each priority area will work to identify, test and refine potential solutions to address impediments to growth and job creation ahead of the November G20 Leaders Summit in Brisbane.”
Mr Goyder said a joint G20 and B20 Infrastructure Roundtable held on Friday highlighted the need for governments and the private sector to work together.
“It is clear governments will need to work closely with business to drive global economic growth and create jobs. The roundtable highlighted the opportunities which can be realised if we collaborate to unlock the capital available to finance the world’s critical infrastructure projects.
“Over the course of the next six months, the B20 will identify constraints to private investment and propose initiatives to address these. Bridging the gap in infrastructure investment, removing barriers to trade, improving the allocation of global human capital and completing major financial reforms would all be real achievements from Australia’s G20 year.”
The meeting of Finance Ministers and Central Bank Governors marks the first step in a process culminating in the November G20 Leaders Summit in Brisbane.
“The first G20 meeting for 2014 has given the forum new momentum under Australia’s presidency. It established a clear agenda and the B20 will continue to develop the propositions put forward. The B20 looks forward to continuing to make a strong contribution to achieving coordinated action.”
Policy makers and business leaders will come together this afternoon for the first joint G20 and B20 roundtable discussion to identify practical measures to lift infrastructure investment worldwide.
The B20 infrastructure and investment taskforce has confirmed its focus in 2014 will be on making recommendations to the G20 that help direct capital and capability to much needed infrastructure projects.
The Australian reports heavyweights of corporate Australia will meet global finance ministers and central bank chiefs this week to advance plans to unlock trillions of dollars for infrastructure investment to stimulate global economic growth and create jobs.
The B20 Human Capital Taskforce has confirmed its focus in 2014 will be on delivering a set of practical, actionable and measurable recommendations to G20 leaders to address the challenges facing today’s global workforce.
Our online collaboration zone is now live. The collaboration zone is a dedicated online portal for the B20 Australia Leadership Group, CEO Forum and B20 2014 taskforce participants. If you are a member of one of these groups, you should have already registered with us. If you have not yet registered, please do so as soon as possible. Once registered, we will email you your login details. Access to this area of the site is for registered members of these groups only. All documents relating to B20 Australia meetings and taskforces will be available on this site. Details of the taskforce recommendations will be made public following the July B20 Australia Summit in Sydney.
In a special address to business and political leaders at the World Economic Forum in Davos, Switzerland, the Prime Minister of Australia, the Hon. Tony Abbott MP, outlined the G20 agenda under Australia’s presidency. In his address, Mr Abbott highlighted the key role of the private sector as the main driver of economic activity and encouraged G20 governments to promote sustainable private sector led growth and employment. The Prime Minister’s speech is available here: http://www.pm.gov.au/media/2014-01-23/address-world-economic-forum-davos-switzerland-0
The Business 20 (B20) has reaffirmed its support for the G20 agenda which was outlined by the Prime Minister of Australia, the Hon Tony Abbott MP, in a special address to business and political leaders at the World Economic Forum in Davos, Switzerland.
Richard Goyder, B20 Australia Chairman hosted a group of 40 international business leaders at a private dinner with the Prime Minister of Australia, the Hon. Tony Abbott MP overnight in Davos. The dinner was an opportunity for the B20 to engage the Prime Minister on the G20 agenda. A transcript of the Prime Minister’s remarks is available online: http://www.pm.gov.au/media/2014-01-21/remarks-b20-taskforce-dinner-davos-switzerland
B20 Australia Chairman, Richard Goyder and Sherpa, Robert Milliner will be joined by B20 Australia Leadership Group members, Gail Kelly, CEO of Westpac, David Thodey, CEO of Telstra and Hamish Tyrwhitt, CEO of Leighton Holdings in Davos, Switzerland at the annual World Economic Forum meeting this week.
Australian Prime Minister and Chair of the G20, the Hon. Tony Abbott MP will deliver a special address and will engage with global business leaders at a private dinner hosted by Richard Goyder. The dinner will be an opportunity for the B20 to engage the Prime Minister on the G20 agenda and discuss B20 input for 2014. David Thodey will advance the infrastructure and investment taskforce discussions when he hosts a meeting of taskforce members.
The Australian has published an op-ed by B20 Australia Chairman, Richard Goyder and International Chamber of Commerce Chairman, Harold McGraw III ahead of the annual World Economic Forum meeting in Davos, Switzerland.
The Australian Financial Review has published an OpEd by B20 Australia Leadership Group member John Denton on the future of the multilateral trading system. Trade will be a key policy area for the B20 in 2014 and a taskforce has been established to look at ways to increase the volume and value of international trade and improve business practices. Denton said Australia has an opportunity as host of a dedicated Trade Ministers meeting next year to focus the G20 on the future of the WTO and define a new narrative around global trade.
The Trade taskforce will be led by Andrew Mackenzie, CEO of BHP Billiton. It will meet for the first time in January.
B20 Australia Chair Richard Goyder, and Sherpa Robert Milliner, shared the B20’s agenda for 2014 with the G20 Sherpas in Sydney last week. They outlined a plan which focuses on four key policy areas: financing growth, human capital, infrastructure & investment and trade. It has been designed to support the G20 agenda of promoting growth, creating jobs and building resilience in the global economy. The approach was acknowledged and supported by the G20 Sherpas.
The four taskforces have now been established and will begin to meet in early 2014. Meetings will be held in Australia and at various international locations during the year. Each taskforce is developing its own meeting schedule and more details will be provided in January.
Our official website is now live. We are inviting business leaders, business associations and individual businesses in all G20 countries to participate. Please register your interest with us. You can also follow us on twitter @B20 and join the conversation #B20. If you have any questions or comments on the B20 program, please email us: firstname.lastname@example.org
The B20 Australia Leadership Group met in Sydney today for the last time this year. On the agenda was an update on the G20 and the Australian Government’s G20 agenda, a report on the B20 CEO Forum workshop in London, a summary of the B20 presentation to the G20 sherpas meeting and a view of what’s on the agenda for the next couple of months – a B20 meeting in Davos and the February Finance Ministers meeting, as well as other operational matters. Following the meeting, the taskforce co-chairs met to finalise their approach to taskforce organisation and agendas including the starting points for each policy area – financing growth, human capital, investment & infrastructure and trade. The B20 Australia leadership Group will meet again in February.
The G20 Sherpas are meeting in Sydney today and tomorrow. Members of the B20 Australia Leadership Group will also meet with the Sherpas when they are in Sydney to discuss the B20 program.
B20 Australia is currently corresponding with taskforce members from the Russian presidency and sharing plans for 2014. Four taskforces will carry through from 2013: financing growth, human capital, investment & infrastructure and trade. We are also establishing a transparency and anti-corruption working group which will work across the four policy areas. This will allow us to show the clear and practical consequences of a lack of transparency and the impact of corruption in the core areas of the G20 agenda.
A delegation of senior journalists hosted by the Department of Foreign Affairs and Trade (DFAT) traveled to Australia from eight G20 countries this week. As part of their visit, they met with the B20 Australia Sherpa, Robert Milliner and B20 Australia Leadership Group members, Michael Smith, CEO ANZ Bank and David Thodey, CEO Telstra. There was great interest in the B20 program and the taskforces co-chaired by Michael and David - financing growth and infrastructure & investment.
|DECEMBER 2013||Media Release||12/4/2013|
B20 Australia has appointed four Australian co-ordinating chairs to our taskforces.
- Mr Michael Smith, CEO of ANZ Bank - financing growth
- Mr Steve Sargent, President and CEO of GE Australia & New Zealand - human capital
- Mr David Thodey, CEO of Telstra - investment & infrastructure
- Mr Andrew Mackenzie, CEO of BHP Billiton - trade
Australia has assumed the G20 Presidency, and its business advisory arm, the B20. Marking the occasion, the Australian Prime Minister, the Hon. Tony Abbott MP, announced the Australian Government's priorities for the G20 Presidency:
- Promoting stronger economic growth and employment outcomes
- Making the global economy more resilient to deal with future shocks
The focus for the G20 will be on achieving practical outcomes that will lift growth, boost participation, create jobs and build resilience in the global economy.
In preparation for the B20 handover, B20 Australia held the first meeting of the B20 CEO Forum in London with more than 60 CEOs representing G20 member countries. The CEO Forum, together with the B20 Australia Leadership Group and taskforces will help guide G20/B20 discussions in 2014.
The meeting in London was also an opportunity to thank Dr Alexander Shokhin and his colleagues from the Russian B20 for their significant efforts and contribution to the B20 over 2013.