With the Inception Meeting, B20 Italy 2021 officially got under way on 21 January. Hosting it were the President of Confindustria Carlo Bonomi and the B20 Chair Emma Marcegaglia, who opened proceedings. There followed a rich panel of distinguished guests including the Minister of the Economy Roberto Gualtieri, the US President's Special Envoy for Climate John Kerry, the President of the European Parliament David Sassoli, the European Commissioner for the economy Paolo Gentiloni and the vice-president of the EIB Dario Scannapieco.
This institutional session was followed by two in-depth sessions, attended by leading representatives of the political and institutional world and by the chief executives of the largest companies, such as Larry Fink, CEO of BlackRock, and Michael R. Bloomberg, founder of Bloomberg.
The 2021 edition is a particularly important one, falling as the world's economies are engaged in confronting the effects of the pandemic crisis while, at the same time, significant changes are expected on the international chessboard that could ease geopolitical tensions. With the arrival of the vaccine and the hope that it will be distributed on a large scale and at speed, the challenges the B20 team has set itself this year are highly ambitious: from climate change to the spread of innovation, by way of promoting sustainability and reducing inequality.
Indeed, according to the business world, 2021 must be the year in which a social, economic and environmental regeneration begins worldwide — a process that will give a strong impetus to economic growth.
“The G20 is called upon to deliver results. Solid, timely and effective. The time is now. Some encouraging signs are beginning to appear but it is not yet enough to see the light at the end of the tunnel. 2021 must be the year of social, economic and environmental regeneration worldwide. In so critical a scenario, business does not act only as a responsible stakeholder but is called upon to stimulate economic growth, generate employment, spread innovation, promote sustainability and reduce inequality.” So said the President of Confindustria, Carlo Bonomi, during his address at the B20 Inception Meeting. “We are aware of our great responsibility and we are proud of it. Above all, we are committed to making a concrete contribution to overcoming the crisis and establishing a new global paradigm. Compared with the crisis of the last decade, the present one requires the G20 to bring about systemic change,” concluded President Bonomi.
“2021 must be and will be the year of the Renaissance. It must be remembered as the year in which the virus was defeated and the return to growth was made possible. The greatest lesson learned from the pandemic is that global problems can only be tackled together. That is what we mean by ‘sharing'. We must decide together. Solve the problem together. Restore a solid multilateralism. Our idea for tomorrow lies precisely in our claim: ‘reshaping the future: include, share, act'. We must make a difference, and the conditions exist for that to happen. Today it falls to us to identify the ways out of the emergency,” – said the B20 chair, Emma Marcegaglia.
“A fairer and more sustainable international taxation system is the key to fostering global trust. Expectations of G20 members are high and the Italian presidency undertakes to meet them. We will work to reach a global agreement on the taxation of the digital economy and on the definition of a global minimum tax, on the basis of the work carried out by the OECD,” – argued Roberto Gualtieri in his address.
“There is no time to lose in tackling climate change. The United States has returned to the Paris Climate Agreement with humility and ambition.” This was underlined by John Kerry, the new US Special Presidential Envoy for Climate, speaking at the event. “Failure is not an option,” he added, looking to the forthcoming COP26 in Glasgow as “the last opportunity”. “The green economy will generate jobs. We must move together to create an energy revolution,” – said John Kerry.
“We find ourselves in a situation of great difficulty because the pandemic continues and the crisis is biting ever deeper. The EU needs to continue with common policies but also to deploy further action. In the EU we must mobilise and support industry, and work for a more sustainable economy so that industrial competitiveness and climate policy reinforce one another,” – noted the President of the European Parliament, David Sassoli, during the Inception Meeting. “Protecting the environment means more jobs, more research, more social protection and more opportunity. The Green Deal is the right road to emerge stronger and better from the crisis before us,” he concluded.
“Companies are fundamental in opening the way to recovery; they have shown incredible resilience in the face of unique circumstances. The success of the recovery depends on their capacity for growth. The G20 under the Italian Presidency has a crucial role to play in rebuilding the global economy, in achieving climate neutrality and in setting global rules for trade, technology and taxation,” – said Paolo Gentiloni.
At the B20 table there are 1,000 full delegates from the G20 countries, the leadership of multinationals and 3,000 participants in all, for a business community of over 6.5 million companies. The whole process will operate through 8 Task Forces of around 100 delegates each, coordinated by Chair Emma Marcegaglia and led by the CEOs of the most important national companies: Trade & Investment (Barbara Beltrame); Energy & Resource Efficiency (Francesco Starace); Integrity & Compliance (Patrizia Grieco); Employment & Education (Gianpietro Benedetti); Digital Transformation (Maximo Ibarra); Finance & Infrastructures (Carlo Messina); Health & Life Sciences (Sergio Dompé); Sustainability & Global Emergencies (Claudio Descalzi).
The roadmap provides for each Task Force to meet monthly by teleconference between February and July to define the contents of its policy paper and the recommendations to be sent to the G20. On 7-8 October, some three weeks before the summit of Heads of State and Government, the B20 Final Summit will be held, at which the “Final Declaration” will be handed to the Italian Prime Minister as G20 President in office. In parallel, throughout the presidency year, the B20 will ensure its presence at the main international economic appointments and at the many events held under the aegis of the G20, in Italy and abroad.
A selected number of CEOs, Italian and international respectively, will also assist President Marcegaglia in general direction and advocacy through an Advisory Board, made up of: Nerio Alessandri (Technogym), Marco Alverà (Snam), Marco Bizzarri (Gucci), Alberto Bombassei (Brembo), Sonia Bonfiglioli (Bonfiglioli Riduttori), Diana Bracco (Bracco), Silvia Candiani (Microsoft Italia), Enrico Cereda (IBM Italia), Giuseppina Di Foggia (Nokia Italia), Stefano Antonio Donnarumma (Terna), John Elkann (Exor), Gabriele Galateri di Genola (Assicurazioni Generali), Francesco Giordano (Unicredit), Carlo Giorgi (Amazon Web Services Italia), Marco Hannappel (Philip Morris Italia), Sergio Marullo di Condojanni (Angelini Holding), Fabrizio Palermo (Cassa Depositi e Prestiti), Alessandro Profumo (Leonardo), Pietro Salini (Webuild), Marco Tronchetti Provera (Pirelli), Ermenegildo Zegna (Zegna).
Completing the B20's governance is the “International Advocacy Caucus”, a body made up of chief executives and business leaders from the G20 countries, appointed by the B20 presidency. Its members will act as “B20 ambassadors”, extending its visibility through their networks and carrying forward its positions, including with their respective national governments.
On the second day, behind closed doors, the task forces' work will begin in earnest. It will also be the occasion to present the “B20 Women Empowerment Ambassador” project, an initiative on the value of women's role, in continuity with the 2020 Saudi organisation which had made it a priority. Its members will be identified by each of the 8 task forces, which will designate 10 delegate members from among their own number. Diana Bracco will lead this team with a dedicated structure which, working in parallel with the task forces, will present its policy paper at the end of the Business Summit.
