Competing National Priorities

The members of the G8, G20 and other nations all have their own interests, the way these competing interests come together will ultimately determine the strategic direction of the global economy. Here is a simplified summary of the national priorities of eight key players:

Canada: Sustainable global growth, avoiding a bank tax, and the stabilization of government debt particularly in Europe.

The United States: Slow the global removal of fiscal stimulus to protect the recovery.

The European Union: Financial reform regulation, (bank tax and IMF reforms), fiscal sustainability and growth.

China: Ward off protectionism.

Japan: Avoid a bank tax, and free trade.

Russia: Medium-term European fiscal sustainability and preserving the recovery.

Brazil: More rights within the IMF.

India: Greater representation in the IMF and opposition to a bank tax.

Competing national interests will make it difficult to find agreement. The need for economic stewardship demands that our leaders look beyond local and regional interests to forge the basis of a consensus.
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Program and Plans for G8 and G20 Summits in Canada

The G8 Huntsville Summit Plans

Deerhurst Resort in Huntsville
Muskoka, Canada.

Friday, June 25 2010

Besides factors affecting the health of women and children in poor countries, the G8 was scheduled to discuss a new legal framework for a UN led deal to combat climate change. G8 members were also expected to discuss a post-2012 agreement that includes a robust system of emissions reductions monitoring and reporting.

Although limiting the rise in temperatures to below 2°C (3.6°F) above pre-industrial times was part of earlier drafts, the G8's "Muskoka Accountability Report" doesn't even mention progress towards limiting warming.

The G20 Toronto Summit Program

Metro Toronto Convention Centre,
Toronto, Canada

Saturday, June 26 2010

G20 leaders arrive at the Toronto Airport Infield Terminal at the Lester B. Pearson Airport in Toronto. Over the course of the two day summit, global economic leaders are expected to discuss the recovery, finanical reforms, European instability, Chinese currency initiatives, free trade and the reduction of global imbalances. While sustainable growth is a dominant theme, details on managing climate change may not get the attention they deserve.

18:30 Official welcome and reception of G20 leaders and spouses by Stephen Harper, prime minister of Canada, and Laureen Harper, at the Royal York Hotel.

Sunday, June 27 2010

09:00 Opening plenary session.

12:30 Family photograph.

17:00 Chair's press conference.
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The G20 and the Green Economy

The green economy can provide a very real return for people and economies and the G20 can play a pivotal role in sustainable development.

The Executive Director of UNEP, Achim Steiner, said that green spending offers "a very real return for people and economies, north and south...The G20 particularly has huge potential in energy, mobility, buildings, agriculture, forestry, [and] water."

Last year, ahead of the April, 2009 G20 summit, over 50 of the world's largest businesses joined forces to call for sustainable stimulus packages. An open letter to the British Prime Minister asked for a coordinated global recovery package with private sector incentives to stimulate the low carbon economy.

This year, it is becoming increasingly clear that we are in recovery and green projects have helped to stimulate the sagging world economy. Although $500 billion has been earmarked for green initiatives, UNEP has a $750 billion dollar goal. It is worth noting that developed nations are responsible for the majority of the 250 billion dollar shortfall. In contrast, China is responsible for almost 40 percent of funds earmarked green

Unlike many in the developed world, China is investing massively in cleantech and this has effectively positioned it as a world leader in renewable energy. This sector now employs 1.5 million people with 300,000 new workers added in 2009 alone. India has been successful in its efforts to improve water security.

China and India may have received considerable attention for their growing emissions, however they are also showing leadership. It is the developed world that is falling behind and must step up its efforts.

"The green economy is not a luxury, but a 21st century imperative on a planet of six billion, rising to 9 billion in just 40 years," Steiner and Pavan Sukhdev, head of UNEP's Green Economy initiative, wrote in a pre-G20 comment.

There is a shift to greener economic growth, and this includes a higher value on nature, but the developed world must assume greater responsibility. Steiner has indicated that the G20 summit is an opportunity for developed nations to contribute their share to the green economy.
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UN Chief Asks G20 to Focus on a Sustainable Recovery
G20 Security Concerns Force Cancellation of Sustainable Supply Chain Event
G20 Protestors Dilute Green Message
The Tyranny of Protest and Climate Change Pragmatism
Local Business Promotes Green Agenda for G20 in Pittsburgh
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