What is the Business 20 (B20)?

The Business 20 (B20) is an engagement group that serves as a bridge between the business community and the G20. It aims to develop policy recommendations to the G20, which are made throughout the presidential year, virtually, by various task forces comprising business leaders from all G20 countries.

The B20 Brasil is organized by the country’s National Confederation of Industry and has established seven Task Forces and an Action Council – all of them focused on specific areas that reiterate the “Inclusive Growth for a Sustainable Future” motto.

What are the objectives of the B20?
Represent the interests of the business community to the G20
Support the G20 with relevant policy recommendations
Foster dialogue between the public and private sectors within the G20 framework, as well as with international institutions

What is the theme of the B20 Brasil?

B20 Brasil’s theme is aligned with the theme and priorities of the G20
Building a fair world and a G20 sustainable planet
• Social inclusion and the fight against hunger
• Energy transition and sustainable development
• Reform of global governance institutions

How is the theme of B20 Brazil implemented?

Through 7 Task Forces and 1 Action Council that formulate policy recommendations. The results of B20 will be advocated before the Brazilian government and the G20 governments, leveraging the extensive B20 network (e.g., global business community, and international organizations).

Participates in the task force discussions and contributes to the drafting of the Policy Paper. For more on B20,

What are Sustainable Food Systems and Agriculture Task Force?

The Sustainable Food Systems and Agriculture Task Force priorities food security and sustainability in agriculture as central to its mission. Its discussions and policy recommendations will look to ensure sustainable agriculture practices and value chains, resilient food systems, biodiversity conservation, and equitable access to nutritious food. By addressing these critical issues, this task force aims to contribute to global food security and environmental responsible agricultural practices, while empowering all agents throughout the agriculture supply chain.

What are Women, Diversity, and Inclusion in Business Action Council?

The Women, Diversity, and Inclusion in Business Action Council is dedicated to fostering greater gender and diversity representation in the corporate world, with a special focus on women. A conscious effort is made to address disparities within underserved groups of women, with an unwavering commitment to leaving no one behind. Its primary goals include proposing policies that create inclusive workplaces where all individuals can thrive, promote equity and diversity in leadership positions, and ensure that businesses actively advance diversity and inclusion initiatives. Through these efforts, this action council aims to reshape corporate landscapes and drive positive societal change.

Website: https://b20brasil.org

• Business 20 (B20) welcomes the G20 Compact with Africa Initiative to boost investment in Africa.

• Investments need stable and secure framework conditions: B20 calls for greater legal and political certainty as well as joint efforts against corruption in Africa.

• B20 members stand ready to support the African Compact countries, the G20, and development banks in the implementation of the individual Compacts.

The Business 20, the official business dialogue of the G20, strongly welcomes the G20 Compact with Africa Initiative, which will be launched at the G20 Africa Conference, G20 Africa Partnership – Investing in a Common Future, in Berlin on June 12-13. More than 40 corporate leaders and presidents of business associations – chairs and co-chairs of the B20 working groups as well as the presidents of BDI, DIHK, and BDA – have voiced their support for the initiative and presented 10 High Level Recommendations to the G20.

The partnerships between the G20, interested African countries, and multilateral development banks are designed to promote investment in Africa by improving the macroeconomic, financial, and political environment. A survey among B20 members has shown that the main obstacles to investment are corruption, regulatory and political barriers, lack of infrastructure, legal uncertainty, and an inadequately trained workforce. The B20 calls on the G20 to tackle these barriers.

“Africa is a continent of vast opportunities but also many challenges. The Compact with Africa Initiative will upgrade the partnership between the G20 and individual African countries to a partnership of equals. The Compacts, if implemented wisely, can become a cornerstone in boosting economic growth and sustainable development in Africa,” Juergen Heraeus, Chair of B20 Germany, underlines.

“Africa is increasingly being recognized globally for her potential in developing robust economies. The G20 Compact with Africa Initiative will address the core structural barriers faced by Africa which serve both development and long-term business interests in order to underwrite sustainable and equitable growth”. Isaac Aggrey, B20 Taskforce member, emphasized.

The B20 recommendations focus, among others, on the investment environment, infrastructure, trade, employment and education, health, as well as good governance and anticorruption. For example, B20 recommends the preparation of country-specific investment facilitation plans, the creation of one-stop shops for investors, the strengthening of investment platforms that provide more information on infrastructure projects, and an extension of policy instruments to mitigate political risks through the multilateral development banks and the G20 countries.

“The B20 stands ready to assist the G20 and Compact countries in order to ensure a successful implementation of investment partnerships” said B20 Chair Jürgen Heraeus.

You can find the B20 Recommendations here: www.b20germany.org

About B20

The Business 20 (B20) is the official G20 dialogue with the global business community. B20 German is organized by the Federation of German Industries (BDI), the Confederation of German Employers’ Associations (BDA), and the Association of German Chambers of Commerce and Industry (DIHK). The B20 is headed by B20 Chair Juergen Heraeus (Heraeus Holding). He is assisted by the three members of the Executive Committee Dieter Kempf, President of BDI, Eric Schweitzer, President of DIHK, and Ingo Kramer, President of BDA, as well as B20 Sherpa Stormy-Annika Mildner. B20 Germany has more than 700 members from all sectors and all G20 members, representing the entire G20 business community.

The G20 Compact with Africa (CWA) Initiative

Africa is a continent of vast opportunities. Despite the high volatility of commodity prices as well as geo-political and geo-economic uncertainties, the continent’s average real GDP growth is forecasted to pick up to 3.8 and 4.2 percent in 2024 and 2025, respectively.

Africa thus remains the second fastest-growing economic region after East Asia. At the same time, there are many challenges including poverty, hunger, poor education, ill health, unemployment and inequality, bad governance and corruption. Just to absorb new entrants into the labor force, around 20 million jobs need to be created every year until 2035.

In order to realize the many opportunities, but also to tackle the challenges, more investment is needed –among others in health, education, climate change mitigation, energy access, and infrastructure. As pointed out in the United Nations’ Sustainable Development Goals and the Addis Ababa Action Agenda, private investment is a powerful lever for successful socio-economic development. However, to boost investment, the business climate and especially good governance must be improved.

In a B20 Survey conducted, respondents pointed out the many impediments to investment in Africa, primarily corruption, followed by regulatory and political barriers, lack of infrastructure, legal uncertainties, and a lack of skilled labor. Being asked to identify the most promising measures to address these barriers, respondents pointed at good regulation, improvement of administration through one-stop shops for investors, capacity building, financial sector development and regulation, as well as better public-private-partnership processes.

The G20 Compact with Africa (CWA) Initiative aims to increase investment in Africa, in particular in infrastructure, by improving the macroeconomic, political, and financial environment. The B20 strongly welcomes this initiative.

The B20 calls on the G20 to upgrade its partnership with Africa by strengthening the environment for foreign direct investment, boosting investment in infrastructure, enabling reliable and affordable energy, increasing digital connectivity, fostering open and inclusive trade, improving good governance and responsible supply chains, creating an enabling environment for small and medium-sized enterprises, improving financial inclusion as well as advancing health, employment, and education.

The G20 should build on existing initiatives such as the Agenda 2063 of the African Union. The initiative needs to be demand-driven. Compacts need to be signed with individual African countries and should be tailored to the needs and interests of the respective country.

The B20 strongly welcomes the intention of Côte d’Ivoire, Morocco, Rwanda, Senegal, Tunisia, the African Development Bank (AfDB), the IMF, the World Bank Group (WBG), and other interested bilateral partners to work on investment compacts and develop strong investment climates.

The B20 hopes that more African countries will join the initiative. The B20 therefore appreciates the interest voiced by Ghana and Ethiopia. The B20 also urges the G20 to set up a mechanism that ensures implementation and monitoring of the Compacts. The B20 stands ready to assist the G20 and Compact countries in order to ensure a successful implementation of the partnerships.

The G20 is the premier forum for international economic cooperation –responsible for 85 percent of global gross domestic product (GDP) and three-quarters of global exports (goods and services), representing about two-thirds of the world’s population. It should take a leading role in working with African countries in a partnership of equals.

As consciousness evolves, enterprises that exist to optimize both social good and profit are replacing organizations that exist solely to maximize profits for shareholders.

These innovative business models focuses on fostering economic development and helping low-income families build more secure livelihoods, while creating new markets for social enterprises. It is about doing well by doing good.

They are the biggest contributors to employment and are critical for job creation in developing countries; yet, few of them in low-income countries have access to formal financial services such as credit lines, and long-term capital loans. Access to finance across the entire value chain is essential for them to thrive, expand, and deepen outreach.

Women entrepreneurs require better access to finance, digital services, improved management skills, training, and awareness of technical requirements. They also need access to financing solutions to deliver their products and services both in a timely manner and to appropriate global standards: opportunities for access to safe water, food, housing, education, medicines, transport and energy; opportunities to earn a living, to accrue income and to invest in their family’s future.

Social impact investors are providing new kinds and longer-term finance, integrity and stability through global standard setters and complementing capital with essential support critical for vibrant enterprises and economies.

They have developed inclusive financial services for a broad range of poor and low-income communities in the continent, particularly women entrepreneurs – a vital step in reducing dependency on aid and ensuring an exit from the need for aid over time.

The vehicles for this new paradigm of financing are designed for entrepreneurs seeking to create impact as well as make a profit. The establishment of measuring, reporting, and expanding this impact could transform lives and collectively change the world.

Jakarta, August 23, 2022 – B20 Indonesia Women in Business Action Council (B20 WiBAC), one of the task forces of the B20 Indonesia Presidency, held a B20-G20 dialogue forum with the theme Advancing Women in the Global Economy through the One Global Women Empowerment on Tuesday (08/23/2022). The dialogue aims to communicate the final B20 WiBAC Policy & Action Recommendation document and launch the blueprint for the One Global Women Empowerment (OGWE) platform to promote inclusive, resilient, and sustainable global economic growth through empowering women.

This activity was attended by live and online participants from all member countries of the G20 Presidency, including high-ranking government officials, business leaders, CSOs, philanthropists, women’s platforms, and relevant stakeholders, including Airlangga Hartarto (Coordinating Minister of Economic Affairs, Republic of Indonesia), I Gusti Bintang Ayu Puspayoga (Minister of Women Empowerment and Child Protection, Republic of Indonesia), H.E Smriti Zubin Irani (Minister for Women and Child Development Government of India), Baroness Deborah Stedman-Scott (Minister for Women, Government of UK), Nadia Burger (The Ambassador Canada designate to Indonesia & Timor Leste), Nicholle Manz-Baazoui (Director for Women’s Economic Empowerment), and others.

“Today, we present the work results of the B20 Women in Business Action Council, which is fronted by 150+ members of top business executives from various countries and industries. Following the Presidential directive, in addition to the final document of Policy Recommendations and Actions, we also announced the concrete results of the B20 WiBAC through the launch of the One Global Women Empowerment platform blueprint, to encourage women’s empowerment in the business world” said Ira Noviarti as Chair of B20 Women in Business Council who is also the President Director of PT Unilever Indonesia Tbk.
Referring to the data from B20 WiBAC, equal gender participation in the global economy can increase USD 28 trillion in global Gross Domestic Product (GDP) growth by 2025. However, many gaps in the equality of women’s participation in the business world must be bridged to realize this potential. In particular, the lack of access, opportunity, and representation of women in strategic positions in the business world.

Shinta Kamdani, Chair of B20 Indonesia, conveyed, “As one of the leading G20 engagement groups, B20 sees various opportunities in the global economy that the business community can assist in its acceleration. One of them is the opportunity for global GDP growth achieved by bridging the gap towards equal gender participation in the business world. Thus, the Women in Business Action Council plays an important role in B20’s mission to promote collaborative, innovative and sustainable economic growth.”

Through intensive discussions and various inputs from the 150 members of the WiBAC B20, there are three main themes in the final B20 WiBAC Policy and Action Recommendation document. The themes will serve as a guide for business communities in all G20 countries and the world in bridging the gap towards equal gender participation:
1. Empowering women entrepreneurs, by developing an ecosystem that can provide access to financial, legal, and technical assistance for business owners. As a follow-up, women’s business networks on a global scale must continue to be developed.
2. Enabling women’s digital and leadership capabilities, by accelerating women’s access to the digital/STEM skills as well as increasing the capabilities needed to take leadership positions, strengthened by gender-based reporting.
3. Promoting safe and equitable workplaces, by improving job security for women workers in the informal economy sector, including in rural communities, as well as developing systematic policies to avoid gender-based violence and assist victims of violence.

As a concrete step to support the realization of the Policy and Action recommendation, B20 WiBAC launched the One Global Women Empowerment (OGWE) platform to bridge the potential and challenges. The platform is designed to bring together parties who need and can assist in empowering women workers and entrepreneurs everywhere. It is hoped that the existence of OGWE can encourage the acceleration of women’s involvement, which will impact global economic growth.
Further about the OGWE, Ira said, “We believe that there are many women in the business world who want to advance, and there are many industry players and various institutions who want to contribute to the advancement of women. It is necessary to have a forum to bring the two parties together in a structured and conducive environment to obtain the optimum results. One Global Women Empowerment or OGWE will play this crucial role.”
“It is a proud moment for the Indonesian presidency to be able to produce concrete steps such as the OGWE blueprint from the B20 WiBAC. These actions will encourage the acceleration of women’s involvement in the business world on a global scale,” added Shinta.
As an accelerator that equips women entrepreneurs and workers, B20 WiBAC has set five key goals as OGWE pillars:
a. Digital Capability, access to digital capabilities and infrastructure for Women in Business
b. Knowledge Sharing, access to cross-border information studies, resources, and best practices sharing in advancing women in business
c. Funding & Investment, access to cross-border financing/funding/investments for women in business and women empowerment initiatives
d. Technical Support, access to coaching, business mentoring, training, legal support, and other technical assistance for women in business
e. Supportive Policy, accelerate the availability of government policy and regulatory actions to alleviate key issues on women empowerment.

In its implementation, OGWE will be run by a secretariat that is also technology-based in providing services called 5C – Crowdsource, Crowdfund, Curate, Clarify, and Communication – to all stakeholders involved.
“Through OGWE, B20 WiBAC seeks to encourage more women to lead, participate, and have access to better business and economic opportunities, increase entrepreneurial skills, and improve digital skills. We invite all elements from business actors and all other stakeholders to collaborate in supporting domestic economic growth and on a global scale through women empowerment. The better this cross-stakeholder collaboration is, the better the results of our efforts in bridging the various gaps towards equal gender participation in the world economy will be,

“ASEN is committed in taking active role in the One Global Women
Empowerment platform by providing investment and capacity building
opportunities for Women Businesses.