This year’s B20 Summit, held November 13-14, embraced the theme of ‘Advancing Innovative, Inclusive and Collaborative Growth’ in support of the G20 theme of ‘Recover Together, Recover Stronger’. The B20 Summit brought together world business leaders representing leading multinational corporations. In the lead up to the B20 Summit, USCIB policy experts worked closely with USCIB members through various B20 Task Forces, such as those focused on digitalization, trade and investment, integrity and compliance as well as illicit trade and illicit finance.
USCIB Vice President for ICT Policy Barbara Wanner participated on the B20 Indonesia Digitalization Task Force on behalf of USCIB members. Wanner provided inputs to the Digitalization Task Force report aimed at ensuring that the substance aligned with USCIB contributions to the OECD digital work and the UN Global Digital Compact. According to Wanner, the focus of USCIB substantive inputs – which largely were taken on board by B20 Indonesia – were aimed at carrying through the themes of “data free flows with trust,” opposition to data localization requirements, risk-based and interoperable approaches to digital security, and the importance of multistakeholder participation in global digital consultations.
USCIB Director, Investment, Trade and China Alice Slayton Clark served on the B20 Trade and Iinvestment Task Force and provided recommendations on behalf of USCIB members in four key areas: promote open, fair and inclusive post-pandemic global trade and investment policies; facilitate innovation and digitalization that supports international development and avoids future crises; encourage inclusivity in global supply chains; and ensure trade and investment drive greener and more sustainable development. USCIB Director for Customs and Trade Facilitation Megan Giblin also played a key role in advancing inputs and securing inclusion of customs and trade facilitation language to reflect member and Committee priorities.
Meanwhile, USCIB Senior VP, Innovation, Regulation, and Trade Brian Lowry participated as a Member of the B20 Indonesia Integrity & Compliance Task Force alongside USCIB Policy Manager for Environment and Sustainable Development Agnes Vinblad, supporting as a deputy member of the task force. Giblin also served a critical role in coordinating efforts to gather USCIB member inputs, reflecting member and Committee priorities, on the inclusion of language specifically pertaining to illicit trade and illicit finance.
Working with David M. Luna, chair of the USCIB Anti-Illicit Trade Committee, USCIB submitted comments pertaining to Policy Recommendation 3 to foster agility in counteract measures to combat money laundering/terrorist financing risk and Policy Action 3.1 to refocus on money laundering/terrorist financing risk factors identification. USCIB’s submission on language recognizing the “link between the sustainability agenda, illicit trade/illicit finance, and financial crime” was adopted by the task force and is included in the final policy paper. Additionally, commentary submitted by USCIB to include language on environmental crime and trade-based money laundering is also reflected in the final policy paper.