Posted in: news
23rd March 2015
The Group of Twenty, also known as the G20 is seeking to incorporate policy contributions on a wide range of issues by organizing 5 formal groups: Business 20, Civil 20, Labour 20, Think 20, and Youth 20. The Business 20 (B20) brings together business leaders from G20 economies to discuss and develop consensus around critical issues for the business community.A major area of work for the B20 has been is the issue of corruption in business, and in 2010, the B20 Anti-Corruption Working Group was formed to focus on issues including high level reporting mechanisms (HLRM), procurement, customs and beneficial ownership transparency.
In November 2014, with Australia sitting as President, the G20 included a significant number of B20 Anti-Corruption Working Group recommendations in its final communique and implementation plan for 2015-2016.
With Turkey taking over the G20 presidency in 2015, the focus shifts to implementation and action. A partnership has formed between the B20 Anti-Corruption Task Force and the World Economic Forum's Partnering Against Corruption Initiative (PACI) to support the 2015-2016 implementation plan, which aligns strongly with The B Team's support of the G20 Beneficial Ownership Transparency Principles.
To learn more about B20 efforts to tackle corruption in the private sector click here.
In November 2014, The B Team, led by Mo Ibrahim called on the G20 to ensure principles of beneficial ownership transparency remained on the G20 agenda. These principle are now included in the G20 implementation plan for 2015-2016.