Paris and New York, May 13, 2013 – The G20 is responding to business concerns, but needs to further improve its performance in order to maintain momentum in the global economic recovery, according to a new report from the International Chamber of Commerce (ICC).
The second annual ICC G20 Business Scorecard, issued halfway through Russia’s presidency of the G20, was released by the Paris-based ICC and its American national committee, the United States Council for International Business (USCIB).
The scorecard assesses four policy areas that ICC’s G20 Advisory Group considers priorities for G20 attention: trade and investment, financing for growth and development, energy and environment, and anti-corruption.
Overall, the scorecard rates G20 responsiveness to business priorities as “fair,” indicating that G20 leaders are making progress but at a somewhat protracted pace. This is an improvement on the score from the 2012 scorecard, which rated overall progress as “poor.”
“It is encouraging to see the G20 making progress towards addressing business priorities, and this is reflected in an improved grade over last year,” said ICC Secretary General Jean-Guy Carrier. “However, this year’s mixed results indicate the G20 needs to do more to fulfill its self-defined role for leading the global economic recovery. Jobs and economic growth are in the balance.”
The ICC G20 Business Scorecard – which examines developments on business recommendations through to the end of the 2012 Mexican G20 presidency – measures progress on business priorities on a scale of:”‘inadequate,” “poor,” “fair” or “good.” It indicates that progress has been steady but limited, partially due to an unavoidable but distracting focus on responding to the on-going eurozone crisis.
Despite the “fair” overall score, the scorecard marks good performances in some policy areas. Notable areas of progress include a strengthened dialogue between business and the G20 on anti-corruption and steps taken under the Mexican G20 presidency to improve financial inclusion.
USCIB Chairman Terry McGraw (chairman, president and CEO, McGraw-Hill Financial) is among the members of the ICC G20 Advisory Group. McGraw will take the reins as chairman of ICC in July.
Click here for a longer version of this news release on ICC’s website, with additional tables from the ICC G20 Business Scorecard and background on other elements that were assessed.
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.
Jonathan Huneke, USCIB
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