The Business 20 (B20) is a forum through which the private sector produces policy recommendations for the annual meeting of the Group of 20 (G20) leaders.
The B20 brings together business leaders from across G20 member countries to reflect the key role of the private sector as the main driver of strong, sustainable and balanced growth. The B20, in providing a channel for business to support the G20 agenda, also has a very important role to play in helping the G20 deliver meaningful outcomes.
The B20 Australia Leadership Group includes 32 Australian business leaders representing a range of industries. It is chaired by Richard Goyder AO, Managing Director and CEO of Wesfarmers.
Under the B20 Australia process, four areas have been opted for a tight focus: financing growth, human capital, investment & infrastructure and trade. Through taskforces in each of these four areas, pragmatic and actionable policy recommendations are hoped to be developed for the G20, building on the work of previous B20 summits.
The G20 & B20 explained
What is the G20 & B20 & why is there so much excitement ahead of the November meeting of G20 leaders in Brisbane?
The B20 has concentrated on identifying the impediments to a more conducive environment for investment and growth through five groups focused on the core economic drivers of trade, infrastructure, human capital, finance and transparency. The result of this work is 20 mutually reinforcing recommendations for action by G20 governments. These actions are mostly new structural reform measures that would deliver on the G20 growth target and form a blueprint for sustainable economic growth in the medium term. If G20 countries commit to these reforms the gains will be large. A failure by any of the G20 countries to commit will mean a significant opportunity cost
To learn more: B20 key messages and recommendations.