The Think20 (T20), the research and policy advice network of the Group of 20 (G20), convened for the T20 Summit in Tokyo on 26-27 May 2019 under the direction of the three lead organisations of T20 Japan: The Asian Development Bank Institute, the Japan Institute of International Affairs and the Institute for International Monetary Affairs.

The T20 communiqué presents key policy recommendations developed by T20 Japan task forces for consideration by the Leaders of G20 member countries during their summit in Osaka on 28-29 June 2019.

This year, two new task forces have been added on small and medium enterprises (SMEs) and population aging issues. The key T20 Japan policy recommendations were selected from more than one hundred policy briefs produced by T20 Japan task forces, and are intended to equip G20 countries to advance the T20 Japan vision – Seeking a sustainable, inclusive and resilient society – in line with policy priorities under Japan’s 2019 G20 presidency.

Recommendations

Taskforce 1 – 2030 Agenda for Sustainable Development

  • Lead tractable changes and global solidarity towards universal health coverage (UHC).
  • Transform education systems to provide all children with quality education.
  • Drive capital at scale towards sustainable development and ensure improved allocation of development finance.
  • Redefine the purpose of business and create a “sustainable ecosystem” for shaping beneficial environments for all stakeholders.
  • Create alternative mechanisms for science, technology and innovation cooperation, building the technological financial capabilities of developing countries.
  • Promote women’s economic empowerment.

Taskforce 2 – International Financial Architecture for Stability and Development/Crypto-asset and FinTech

  • Strengthen the international financial architecture to ensure stability and development.
  • Modernise financial systems through FinTech promotion and crypto-asset regulation.
  • Transform sustainable finance into mainstream finance.

Taskforce 3 – Climate Change and Environment

  • Pioneer ambitious actions for transition to a decarbonised society.
  • Construct a fulfilling decarbonised society through innovation, appropriate technologies, and community-based renewable projects.
  • Mainstream circular economy and society at the global, regional, national and subnational levels.

Taskforce 4 – Economic Effects of Infrastructure Investment and its Financing

  • Maximise the impact of quality infrastructure investments through land trusts and by tapping spill-over effects boosting long-term returns.
  • Boost quality infrastructure development by integrating impactful environmental solutions.
  • Develop strategies for enhancing resilient infrastructure development.

Taskforce 5 – Cooperation with Africa

  • Agree on a unified approach towards macroeconomic stability by attaining fiscal and debt sustainability and strengthening domestic resource mobilisation.
  • Mobilise diverse development actors and tools in support of employment-led growth, resilient food systems and sustainable development.
  • Enhance policy coordination between the G20 and Africa to promote economic integration, including removal of policies that impede African development.

Taskforce 6 – Social Cohesion, Global Governance and the Future of Politics

  • Promote corporate governance: instruments for social cohesion and better global governance.
  • Promote international cooperation: strengthening rules-based and multilateral global governance.
  • Promote social cohesion and sound politics: adapting technology to contribute to the social good and advancing the inclusive policymaking process.

Taskforce 7 – The Future of Work and Education for the Digital Age

  • Promote lifelong learning and work.
  • Promote digital literacy and other future-oriented skills.
  • Promote social protection for the platform economy.

Taskforce 8 – Trade, Investment and Globalisation

  • Reinvigorate the WTO as a pillar of the rules-based trading regime.
  • Respond to the digital revolution with policies supporting data free flow.
  • Advance the ongoing trade agenda for sustainable and inclusive growth.

Taskforce 9 – SME Policy faced with Development of Financial Technology

  • Move towards an entrepreneurial economy by promoting start-ups, business transfers, and human resource development.
  • Improve SME access to resources using digital technologies.
  • Promote SME innovation and internationalisation.

Taskforce 10 – Aging Population and its Economic Impact + Immigration

  • Implement structural reform policies that promote economic growth, macroeconomic integrity, and a resilient labour market.
  • Re-orient social protection systems towards poverty alleviation, wealth accumulation, adequate social security for all, and fiscal sustainability.
  • Develop data systems, policy tools, and analysis pertaining to the impacts of demographic change in G20 countries and emerging economies outside the G20.

(Source: T20 Summit 2019 Communiqué).

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