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T20 Group Submits 32 Proposals to Address Global Problems

T20 Group Submits 32 Proposals to Address Global Problems

Monday, 26 October, 2020 - 06:00

Saudi chairmanship of the Think 20 group (T20) and Vice President of the King Abdullah Petroleum Studies and Research Center (KAPSARC), Dr. Fahad Al-Turki revealed that the group has submitted to the G20 general secretariat 32 proposals aimed at tackling global problems.

In remarks to Asharq Al-Awsat, he said that climate change was a pressing global issue and the G20 must underscore the need to adhere to the commitments related to this subject.

“We have recommended the adoption of the Circular Carbon Economy and improve cooperation over the action plan on climate change in order to boost sustainable economic developments and recovery and protect, maintain and revive biodiversity,” he added.

Moreover, Al-Turki said that the emerging concerns about the global economic and financial crisis demands several viable solutions. This in turn demands that the G20, which is set to hold its summit in Saudi Arabia in November, find the best means to support and cooperate with various organizations so that they can efficiently achieve their goals.

He also demanded that the G20 carry out internal reforms to ensure sustainability and improve cooperation between members and non-members alike.

“We have recommended increasing the participation of parties with multilateral interests in the G20 in order to confront current political challenges that are impacting the global economy,” he continued, citing challenges in general health and climate change.

He also revealed a recommendation that stresses the need for finding means that help bridge the investment gap in order to reach a solid and sustainable foundation. He noted in this regard the widening gap between income and wealth within countries, the changes in the global trade structure and the growing waves of migration that are eating away at social cohesion in several nations.

The proposals will be submitted at the T20 summit that will be held on October 31 and November 1.

These recommendations address the “problems of our age” and are a product of the contribution of more than 600 international experts, from 56 countries and 440 institutions, Al-Turki said.

Created in 2012, the Think 20 is an engagement group comprised of think tanks whose primary challenge is to add value to the G20 process with evidence-based public policy proposals.

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