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UNDP Report: The G20 Global Development Agenda

UNDP by Victoria Cole, July 27, 2015 Adjust font size:

The United Nations Development Programme, in partnership with the CCIEE and the SIIS, published a report entitled, "Rebalancing Global Economic Governance – Opportunities for China and the G20 beyond 2015." The report highlights the importance of global governance and sustainable development to "add value to ongoing debates and inform the work of policy makers and practitioners in China as well as around the world."

A Potential G20 Response and Partnership for Sustainable Development (Chapter 4)

4.1.1 The G20 Platform and the Establishment of the Development Working Group

When the G20 was formally hailed as a premier forum for international economic cooperation, and elevated to Heads of State level, its main objectives were to find ways to overcome the negative effects of the global financial and economic crisis of 2008-09. Its elevation reflected the long-felt need to institutionalize the dialogue between the advanced and emerging economies in a more effective setting.

The question is how to treat broader issues – especially development – in the dialogue going forward. The development agenda can be treated as a separate track and focus by G20 countries, or it can be mainstreamed through the G20 economic and financial agenda. No one approach is right or wrong, and there are other hybrid options.

At the G20's 2009 London Summit, the G20 made some key steps towards the creation of a development agenda, in which a US$1.1 trillion program was announced to boost the world economy. One of the main topics at the London Summit was "ensuring a fair and sustainable recovery for the world economy." Leaders agreed to provide US$50 billion to support social protection, to boost trade and to safeguard development in low-income countries.

One year later, at the Toronto Summit, the DWG was established with the aim of shaping a development agenda in order to enhance policies that would stimulate economic growth and resilience. A multi-year action plan was announced and later adopted at the Seoul Summit in 2010.

At the Korean Summit leaders agreed that "narrowing the development gap and reducing poverty are integral to our broader objectives of achieving strong, sustainable and balanced growth and ensuring a more robust and resilient economy for all." Since then, the DWG aims to link the main G20 policy goals to the needs of LICs.

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