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Rebuilding the world post-COVID-19

7. Juli 2020 - 10:19

In his closing address, Dennis J. Snower, President of the Global Solutions Initiative, highlights three key insights from over 800 contributions to the Digital Global Solutions Summit 2020: the need for value-driven policymaking, economies that protect the natural world and support for multilateralism.

Economic value needs to be brought into harmony with our values.

The heroes of the pandemic are people, who surprisingly, have not been held in particularly high regard in our economies and societies – nurses, carers of the elderly, delivery personnel and immigrant agricultural workers. These can be people on low salaries in precarious jobs, whose most important service lies in the civility and kindness for which they are not paid.

It is necessary to find new and better ways of according social esteem, political voice and economic reward to people who should be valued, not just in times of current need, but always.

This awareness gives new urgency to calls for reforming capitalism, measuring economic performance beyond GDP, and measuring business performance by stakeholder value rather than shareholder value.

Human beings are not merely creatures that seek to maximize their consumption as efficiently as possible. Human beings seek to lead meaningful lives and these are lives lived in accordance with our values. To do so, humans need to be empowered not only to pursue immediate self-interest, but to learn and adapt, to shape our environment sustainably, to give and receive care and respect in our social communities. These are all value-driven activities.

The time has come to say farewell to the view that economics is “value-free,” concerned merely with the means whereby resources are allocated and distributed; business activity is value-free, concerned merely with the maximization of shareholder value; economic growth is accepted as a value-free measure of economic performance; and policy making is concerned primarily with value-free economic efficiency, making contact with values only by influencing the distribution of income and wealth.

A sense of purpose in policy making and business, as well as measures of economic and business performance, must be value-driven.

Related Global Tables

Opening Panel: Global Problem-Solving at a Crossroads

Fahad Alturki, T20 Saudi Arabia and KAPSARC, Colm Kelly, PwC, Gabriela Ramos, G20 Sherpa OECD, Dennis J. Snower, Global Solutions Initiative, hosted by Journalist Declan Curry

Rebuilding Macroeconomics after the Pandemic

Wendy Carlin, University College London, Paul Collier, Blavatnik School of Government, University of Oxford, Alan Kirman, École des Hautes Études en Sciences Sociale, Henrietta Moore, Institute for Global Prosperity, University College London, hosted by Angus Armstrong, ESRC’s Rebuilding Macroeconomics

The role of civil society and businesses for fostering recoupling

Marc Fleurbaey, Princeton University and Global Solutions FellowAmandine Lepoutre, Thinkers & Doers, Joost Minnaar, Corporate Rebels, Arnaud Mourot, Ashoka

 

There needs to be new appreciation of our responsibility towards the natural world.

The pandemic shows clearly how humans have displaced, captured and misused ever more wildlife, the pathogens in these animals can lead to zoonotic infections. Worldwide zoonoses give rise to an estimated 1 billion cases of human illness and millions of human deaths annually.

In many ways, nature has benefitted from the current worldwide recession: clean air and clear waterways around major cities. However, the pandemic makes clear humanity’s ever-present capacity for natural destruction under the current economic and political regimes, as deforestation, wildlife poaching and illegal mining has increased in Latin America, Asia and Africa. At the same time, COVID-19 emphasized that despite all the cities that have built, humans remain embedded in the natural world.

These observations strengthen the impetus to fight climate change, reform land use, protect oceans, and preserve biodiversity. Economic performance should be measured not just in terms of the goods and services that we produce and consume, but also in terms of how these production and consumption activities affect the life-sustaining powers of our ecosystems. Along the same lines, business performance measures must take account of natural capital and ecosystem services.

Related Global Tables

What can the G20 do to support green investment in emerging and developing economies?

Michael Dittrich, German Federal Environmental Foundation (DBU), Mafalda Duarte, Climate Investment Funds, Manuel Pulgar-Vidal, WWF International, hosted by Journalist Conny Czymoch

What can the G20 do to promote a sustainable bioeconomy and stable food systems?

Julia Klöckner, German Minister of Food and Agriculture, Alexander Bonde, German Federal Environmental Foundation (DBU), Franziska Schünemann, Kiel Institute for the World Economy, Maximo Torero, Food and Agriculture Organization, Robert Vos, IFPRI, hosted by Journalist Conny Czymoch

Why sustainable and smart urbanization matters for the G20

Hazem Galal, Cities and Local Government Global Leader, PwC, Amal Fatani, Saudi S20 Sherpa, Kobie Brand, ICLEI, Nicolas J.A. Buchoud, Grand Paris Alliance; Global Solutions FellowSusan Parnell, University of Bristol, hosted by Evan Davis, BBC

What can the G20 do to prepare the road to COP26 and ensure functioning global carbon markets?

Svenja Schulze, German Minister for the Environment, Laurence Tubiana, European Climate Foundation, Amar Bhattacharya, Brookings, USA, Ottmar Edenhofer, PIK, Germany, hosted by Journalist Conny Czymoch

There needs to be a new appreciation of our vital need for multistakeholder and multilateral cooperation.

Despite the many differences in outlooks and convictions among the people of the world, a new and better future can only be shaped together. In this age of the Anthropocene, all people are finally being called collectively to account. Humans being have become so plentiful and so powerful that our activities dominate the health of our planet. We are coming face to face with our responsibilities.

Our actions have consequences that extend far beyond our immediate goals, in both time and space. We are interdependent economically and environmentally, and thus also politically and socially, beyond anything we could possibly have imagined even a generation ago. We are encountering a common vulnerability that has arisen because we have thus far failed to recognize the terrible implications of acting independently in pursuit of short-sighted goals.

We are beginning to appreciate the interdependence of our needs, despite all our national, religious and cultural differences. The interconnected vulnerabilities of our health systems show us that we are not sustainably well when others are ill. The interdependence of our food systems indicates we cannot be sustainably full when others starve. The looming refugee crises are beginning to reveal to us that we cannot be sustainably free when others are in chains.

Related Global Tables

What can the G20 do to reinvigorate multilateral cooperation in a new global order?

Danilo Türk, Club de Madrid; Former President of Slovenia, Julia Pomares, CIPPEC, Argentina, Blair Sheppard, PwC, Ngaire Woods, the University of Oxford, hosted by Homi Kharas, Brookings Institution

What can the G20 do to improve social cohesion and trigger responsibility in business and politics?

Paul Collier, University of Oxford, Gianluca Grimalda, Kiel Institute for the World Economy, Colm Kelly, PwC, Claudia Sanhueza, Universidad Mayor, hosted by Marc Fleurbaey, Princeton University and Global Solutions Fellow

More Global Tables are available online.

The Global Solutions Summit, with its recommendations and visions, is meant to provide support for the G20 and beyond in envisioning a new world, where we share a common awareness of global goals, common respect for local differences and the recoupling of economic prosperity with social and environmental prosperity.

DENNIS J. SNOWER is President of the Global Solutions Initiative and Professor at the Hertie School.

About the Global Solutions Summit

The Global Solutions Summit – The World Policy Forum – is hosted by the Global Solutions Initiative, a global collaborative enterprise that proposes policy responses to major global problems, addressed by the G20, the G7 and other global governance fora. The policy recommendations and strategic visions are generated through a disciplined research program by leading research organizations, elaborated in policy dialogues between researchers, policymakers, business leaders and civil society representatives. Most recently, the GSI proposed an alternative to measuring prosperity through GDP, the Recoupling Dashboard. The Global Solutions Summit 2021 will take place in Berlin, Germany on May 27th and 28th.

Photo by Nick Fewings on Unsplash

The post Rebuilding the world post-COVID-19 appeared first on G20 Insights.

Kategorien: english, Ticker

Available now: 2020 Digital Global Solutions Summit Program

11. Juni 2020 - 9:58

The Global Solutions Summit 2020, held digitally due to the COVID-19 pandemic, has so far welcomed 209 speakers, 45 keynotes, 36 panel discussions, dozens of vision statements and Policy Briefs.

These fantastic contributions to the Think20 process and the 2020 G20 Presidency have been reviewed, consumed and commented on extensively by thousands of registered participants and tens of thousands of visitors to the Global Solutions Initiative website.

Global Table Highlights

Global Tables cover issues such as the Future of Multilateralism, Fighting Climate Change, Infrastructure Investment, and consist of keynotes, panel discussions, vision statements and interviews. All contributions are online.

A selection of key Global Tables covering the 2020 Think20 priorities is below:

Global Table: What can the G20 do to prepare the road to COP26 and ensure functioning global carbon markets?

  • Keynote: Svenja Schulze, German Minister for the Environment
  • Keynote: Ottmar Edenhofer, Potsdam Institute for Climate Research (PIK)
  • Vision: Josef Aschbacher, ESA
  • Panel: Amar Bhattacharya (Brookings), Ottmar Edenhofer (PIK), Germany’s Environment Minister Svenja Schulze (BMU), Laurence Tubiana (European Climate Foundation)

Global Table: COVID-19: What can the G20 do to support the Fight against Pandemics in a Globalized World?

  • Panel: Elhadj As Sy (Kofi Annan Foundation), Christian Drosten (Charité), Ilona Kickbusch (World Health Summit) David Loew (Sanofi Pasteur)

Global Table: What can the G20 do to promote a circular carbon economy?

  • Keynote: Khalid Abuleif, Chief Climate Change Negotiator, G20 Saudi Arabia
  • Panel: Khalid Abuleif (G20 Saudi Arabia), Gunnar Luderer (PIK), Miranda Schreuers (TU Munich), Adair Turner (Energy Transitions Commission)

Global Table: What can the G20 do to stabilise the world economy in times of the COVID-19 pandemic?

  • Keynote: Peter Altmaier, German Minister for the Economy
  • Keynote: Paolo Magri, ISPI
  • Panel: Irene Natividad (Global Summit of Women), Jean Pisani-Ferry (European University Institute), Paola Subacchi (Queen Marry University of London), David Sloan Wilson (Binghamton University)
  • Vision: Sean Cleary, Future World Foundation

Global Table: The G20 in time of Pandemic

  • Panel: Fahad bin Abdullah Al Mubarak (G20 Sherpa Saudi Arabia), Pietro Benassi (G7/G20 Sherpa Italy), Christopher MacLennan (G20 Sherpa Canada), Lars-Hendrik Röller (G7/G20 Sherpa Germany), Dennis J. Snower (Global Solutions Initiative)
Save the Date: Global Solutions Summit 2021

During this exciting period of global discussion, it is a great pleasure to share the dates for the Global Solutions Summit 2021 in Berlin, Germany, during the 2021 Italian G20 Presidency. Please mark your calendars for May 27th and 28th, 2021.

To stay up to date with recent publications and other activities, follow us on social media: Twitter, Facebook and LinkedIn.

About the Global Solutions Summit

The Global Solutions Summit – The World Policy Forum – is hosted by the Global Solutions Initiative, a global collaborative enterprise that proposes policy responses to major global problems, addressed by the G20, the G7 and other global governance fora. The policy recommendations and strategic visions are generated through a disciplined research program by leading research organizations, elaborated in policy dialogues between researchers, policymakers, business leaders and civil society representatives. Most recently, the GSI proposed an alternative to measuring prosperity through GDP, the Recoupling Dashboard.

The post Available now: 2020 Digital Global Solutions Summit Program appeared first on G20 Insights.

Kategorien: english, Ticker