B20 India Task Force News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Business feedback to G20's current agenda has prioritised resilience of value chains and ESG. The two issues are interlinked for companies moving from just-in-time to just-in-case manufacturing. Covid was the latest in a series of shocks delivered over the past decade, some of which (weather events) are triggered by ESG concerns. This was underlined at the B20 Summit last week when B20 India Task Force chairperson Uday Kotak brought up the matter of funding sustainability goals and the formation of a Global Acceleration Fund.

Countries worldwide require approximately $4.5 trillion in the next 7-10 years to support their development goals, said Uday Kotak, Chair of B20 India Task Force on Financing for Global Economic Recovery. The task force recommends the establishment of a 'global acceleration fund' where businesses would contribute 0.2% of their profits toward social development objectives. Kotak also suggests that Indian companies should allocate 0.2% of their overall CSR contributions to the global acceleration fund.

“The money required in the next 7-10 years is about USD 4.5 trillion (to meet the priorities of development goals),” Kotak said at the B20 Summit India 2023

The B20 India Task Force on the Future of Work, Skilling, and Mobility has recommended the development of an international universal labour information management system (ULIMS) as part of the B20 center of excellence. The task force, which consists of 179 members from G20 and other countries, made seven broad points across three frameworks including the future of work, skilling, and enhancing mobility.