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UNDP Report: G20's Potential Impact on Global Development

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

4.2.2 What Impact Could the G20 Aspire to Achieve?

In 2014, Turkey officially assumed the G20 presidency and announced the priorities of the G20 for the 2015. The three pillars have been identified as: 1) strengthening the global recovery and lifting the potential, 2) enhancing resilience, 3) buttressing sustainability. This last area focuses extensively on development issues and also includes energy sustainability and climate change financing.

In the Turkish presidency in 2015, the three I's – inclusiveness, implementation, and investment – are being extensively promoted. To operate inclusiveness on the international stage, the Turkish presidency seeks to enhance the voices of developing countries in G20. The cooperation and interdependence of investment to drive growth and increase employment has also been strengthened in the Turkish presidency.

Investments in climate change should also be improved and the financial system should be stabilized to support the private sector in emerging markets to invest, especially in areas such as infrastructure and Small and Medium Enterprises (SMEs).

Moreover, on specific development issues, the focus on improving infrastructure investment will continue, broadening financial inclusion and contributing to the reduction of remittances and transfer costs as well as assisting developing countries and LIDCs to benefit from the international tax agenda through further capacity building.

With Turkey as the first G20 presidency to implement the Food Security and Nutrition Framework, food security in the developing world has been hailed as another important issue. Topics include the enhancement of sustainable food systems and productivity improvement for smallholder farms.

Turkey’s 2015 G20 presidency is ambitious, and it will be an even greater success if its experience and achievements were connected to China’s G20 leadership in 2016. This synergy could be a source of impetus and momentum for the implementation of the UN global development agenda.

Chinese initiatives within the South-South cooperation framework, and especially the establishment of new regional arrangements such as the AIIB and the NDB are welcomed and show China’s commitment to participating more actively in the global arena with a greater attention on global development cooperation.

As 2016 is the first year of the implementation of the ambitious global post-2015 agenda, China can truly take a step further by prioritizing the Post-2015 Agenda and the SDGs in its G20 presidency. In addition, the universal character of the Post-2015 Agenda represents an opportunity for China to encourage developed countries to demonstrate their domestic commitment to the post-2015 agenda.

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