14 november 2022
The delegation of the Russia-ASEAN Business Council is taking part in the B20 Summit in the framework of G20, which started on November 13, 2022 in Bali and is dedicated to the theme "advancing innovative, inclusive and collaborative growth" in support of the G20 theme "Recover Together, Recover Stronger."
The B20 is the official G20 interaction group representing the global business community and has a mandate to provide practical recommendations on priorities within the framework of each country's chairmanship in order to facilitate economic growth and development. The B20 Summit brings together world leaders, more than a thousand heads, senior executives of leading multinational corporations and promotes the interaction of politicians and business leaders to promote innovative, inclusive growth and strengthen cooperation.
Among the key topics discussed at the summit: sustainable resource management, stimulating trade through innovation and global partnership, sustainable and inclusive growth. Sessions were also held on the results of the work of the B20 Task Forces on Digitalization; work and education; energy, sustainable development and climate; finance and infrastructure; trade and investment.
The business summit was attended by more than 30 heads of Russian companies from such sectors as food trade, high technology and IT, marketing and advertising, consulting, etc. The Business Council, together with the largest Russian companies and business associations of Russia, prepared recommendations within the framework of the work of the Task Force on Finance and Infrastructure (Finance & Infrastructure Taskforce), which were presented at the summit.
During the discussion of sustainable financing for infrastructure, climate and energy security, it was noted that the accumulated infrastructure gap in developing countries continues to widen and by 2040 will reach 10.6 trillion US dollars in the G20 countries and 14.9 trillion dollars worldwide.
It is expected that by 2025 the value of institutional assets will amount to 120 trillion dollars and this will help cover the existing infrastructure gap.
On the sidelines of the summit, a working meeting was held between Ivan Polyakov, Chairman of the Russia-ASEAN Business Council and Sanda Ojiambo, Assistant Secretary General of the United Nations, Head of the United Nations Global Compact. Many company members of the Russia-ASEAN Business Council as well are members of the UN Global Compact and members of the Russian National Global Compact Network. The parties emphasise the importance of continuing close cooperation between the UN and the National Global Compact Network and the need for Russia's participation in supporting UN programs and the 17 goals of the Global Compact, as well as the Sustainable Development Goals.
"Russia is one of the founders of the UN and Russian business plays an significant role in shaping the sustainable development agenda. Makes a direct and significant contribution to international energy and food security. This is especially important for developing countries, ASEAN member states, APEC and the BRICS Group. For all of them, partnership with Russia can ensure the speedy achievement of all the goals that are being discussed by business leaders and political leaders at the G20 Summit," Ivan Polyakov noted.