Apart from the G20’s apparent lack of effective strategy and implementation of its own pledges, its growth vision lacks full coherence with sustainable development. Instead of wishfully hoping to retrace an economic growth trajectory of the past, the G20 should advance coherent sustainable development.
When a government takes on more public debt than it can service, there are serious consequences. Besides cuts in public budgets one country’s over-indebtedness can have spillover effects on regional or even global markets, as we saw in the recent Greek financial crisis.
The G20 uses the term “Green Finance” as a broad umbrella term that refers to the major shift in financial flows required to support projects that benefit the environment and society by reducing pollution or tackling climate change.
On 1 December 2016, Germany became the host and President of the G20 and began to work within the so-called G20 Troika, which in addition to itself consists of the previous 2016 G20 President (China) and the subsequent 2018 President (Argentina).
By Nancy Alexander, Dr. Heike Löschmann, Waleria Schuele
On the occasion of the third UN-conference on "Finance for Development" in Addis Abbeba between 13-17 July the G20 Update discusses the predominant role of the G20 in relation to the UN-processes hold parallely. It also refers to a proposal of financial experts of SOMO: "Making financing for development more accountable? Proposals for strengthening corporate accountability in the Financing for Development ‘outcome document"
In this 22nd issue of the G20/BRICS Update Newsletter we focus on different aspects of global policies related to financing development as defined by the G20, the UN and the World Bank. A critical analysis from the perspective of development coherence is key.
Issue 18: The February G20 Update with the new BRICS Update presents reflections on 2014 Summit Agenda. With the integration of the BRICS group into the title we like to expand the profile of the Newsletter.