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Biennial UN-G20+ Summit: Bridging the Global Economy Governance Gap

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Publication Type
Policy Brief
Contributing Institution
Global Challenges Foundation, Global Governance Innovation Network, Leiden University, Stimson Center
Availability
Full text. Item is original to GGIN (UPDATES ONLY)
Posted
6 September 2024
Authorship

Abstract

From continued volatility and inequality in the global financial and economic system and fears of renewed health risks to the present triple planetary crisis (climate change, biodiversity loss, and pollution) and need to overcome growing divisions between the BRICS+ and G7 countries, the world needs a more coherent and effective way for managing global financial, economic, social, and environmental governance. In response to these global challenges and in light of upcoming diplomatic opportunities, this policy brief recommends the creation of a Biennial UN-G20+ Summit on the Global Economy. The proposal aims both to take forward and raise the ambition of a related idea for adoption at this September’s UN Summit of the Future in New York and under consideration too for the G20 Summit this November in Rio de Janeiro.

The Biennial Summit would convene the Group of 20, the UN’s 193 Member States, major regional organizations, the Secretary-General, and heads of international financial institutions, WTO, and ILO—during the General Assembly’s High-Level Week—to shepherd a more sustainable and resilient global economy. Importantly, the Biennial Summit will focus this “UN-G20+” on mitigating and managing cross-border shocks, fostering continued broad-based socioeconomic recovery from the pandemic, and addressing rising global economic inequality. The policy brief builds on and further develops the original thinking from the report of the 2015 Commission on Global Security Justice & Governance (Albright-Gambari Commission) and the 2021 Our Common Agenda report of the UN Secretary-General António Guterres.

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