BELLAGIO, Italy and TOKYO and NEW DELHI, May 18, 2023 /PRNewswire/ -- The official think-tank engagement groups of G20 India (T20) and G7 Japan (T7), together with their counterparts of G20 Indonesia and G7 Germany (2022) and think-tanks involved in the preparation of the G20 Brazil and G7 Italy (2024) gathered at The Rockefeller Foundation Bellagio Center, for a first of its kind convening since the adoption of the G20 development agenda in Seoul in 2010, the creation of the T20 in 2012 and the T7 in 2022. Jointly organized by the Asian Development Bank Institute (ADBI) and The Rockefeller Foundation, the convening titled, "G20/G7 Retreat - A Matter of Peace," focused on T7/T20 dialogue for G7/G20 cooperation, sustainability and the United Nations Agenda 2030 for Sustainable Development, and milestones towards a new international order.
As they share a vision of combined challenges and risks of macroeconomic and geopolitical fragmentation, the T7 and T20 call for renewed cross-border, cross-sectoral, and interdisciplinary dialogue and cooperation. They recognize the complementarity of the T7 and T20 to help address the ballooning debt crisis in the Global South, a critical condition to secure the delivery of the Agenda 2030, along key global environmental and climate commitments.
The T20 and T7 have outlined ten priorities for G20/G7 cooperation and agreed to work jointly and with their partners to foster effective responses and robust policy solutions in the short and long term. The participants agreed upon a Bellagio Action Plan 2023-24 to further cooperation and ties between G7 and G20 in the future. The promotion of gender equality, the issue of wellbeing and the transformation of GDP measurement, a common vision of human capital development, boosting public investments in global science systems and research infrastructure, and the proposal of a G7/G20 dashboard, introduced at the T7 Summit in Tokyo on April 27-28, 2023, are among common goals.
In light of a rapidly changing global context and interconnected environmental, development and global financial reforms agendas, the participants agreed to convene and exchange regularly ahead of the G7 and G20 leaders' summits and to prepare a joint communiqué in the fall.
Read the Chair's summary here: https://www.rockefellerfoundation.org/wp-content/uploads/2023/05/Chairs-Summary-G7-G20-Bellagio-retreat-2023_FINAL.pdf
Commenting on the outcomes of the convening, Tetsushi Sonobe, Dean and CEO, ADBI, said, "We have learned from a decade of the T20 and our world is both in crisis but also in progress. Joining forces across the T7 and T20 can help strengthen the voice of the civil society and bridge the G7 and G20. This is essential to address immediate concerns such as the return of extreme hunger and longer-term issues, in particular investing in a common future."
Highlighting the importance of convergence between G20 and G7, Deepali Khanna, Vice President, Asia Regional Office, The Rockefeller Foundation, said, "To address today's crises with a focus on long-term gains rather than short-term payback, India's G20 Presidency and Japan's G7 Presidency are critical levers. With cross-pollinated dialogue and action, the promise at the core of the global economic order can be restored and revitalized. The Rockefeller Foundation is privileged to support this unprecedented format for cooperation between G7 and G20."
About ADBI
The Asian Development Bank Institute (ADBI) is the Tokyo-based think tank of the Asian Development Bank. ADBI provides demand-driven policy research, capacity building and training, and outreach to help developing countries in Asia and the Pacific practically address sustainability challenges, accelerate socioeconomic change, and realize more robust, inclusive, and sustainable growth.
About The Rockefeller Foundation
The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We work to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.
