G20 leaders launch global partnership and website to help advance inclusive businessApr 6, 2016
Nanjing, China—The G20 officially launched the Global Platform on Inclusive Business (GPIB) today in Nanjing, China. The Platform is a global partnership that will provide support to policymakers and accelerate the adoption of inclusive business policies and programs globally.
The GPIB is being implemented under the Chinese 2016 G20 Presidency. The creation of the Platform was called for in the Leaders Call on Inclusive Business issued at the G20 Leaders Summit in November 2015 in Ankara, Turkey. During the Summit, leaders also endorsed the G20 Inclusive Business Framework. The GPIB will connect policymakers and businesses to better understand the role that governments can play in supporting inclusive companies more effectively.
“The Chinese G20 Presidency is happy to announce the launch of the Global Platform on Inclusive Business”, said Zhang Shaogang, Chair of the DWG meeting. “GPIB seeks to connect policy-makers and businesses. It is both pro-poor and pro-business and strives to better understand the role of governments in supporting inclusive business.”
Inclusive businesses provide low-income men and women with goods, services, and improved livelihoods by including them in their core business model. Inclusive businesses – by working directly with low-income people – have the potential to be a driving force for inclusion and sustainability. These are companies that extend last-mile water, power, and mobile phone service to customers in rural areas. They train and create markets for small farmers. They treat low-income patients and teach low-income students.
However, companies struggle with challenging operating environments and gaps in the institutional, informational, and infrastructural conditions that are required to make inclusive markets work. These issues prevent companies from reaching the 4.5 billion people who are considered to be living at the base of the economic pyramid.
“By establishing this platform, the G20 has taken a great step towards improving the enabling environment for inclusive businesses,” said Eriko Ishikawa, Global Head of the Inclusive Business team at the World Bank Group’s International Finance Corporation (IFC). “The World Bank Group welcomes the significant contribution by the G20 as it will send a signal to policymakers worldwide.”
As a part of the GPIB, www.g20inclusivebusiness.org was created for policymakers to access research on inclusive business policies and soon-to-be launched online courses. This is the first platform designed specifically to support policymakers on this topic and is being implemented jointly by the World Bank Group and United Nations Development Programme (UNDP). By identifying, analyzing, and addressing policy issues specific to inclusive business, the platform has the potential to unlock widespread opportunities for businesses to grow, replicate, and expand.
“We believe the Global Platform on Inclusive Business will become the go-to place for policymakers interested in advancing inclusive business”, said Pedro Conceiçao of UNDP. “Given the potential for inclusive business to contribute to the 2030 Agenda, it is important that we provide policymakers information and evidence-based policy options to accelerate the growth of these businesses.”
The platform was launched during a workshop preceding the G20 Development Working Group meeting. Representatives from G20 and developing countries had the opportunity to learn from their peers that have already begun to support inclusive business and implement inclusive business policies and programs. Participants discussed specific policy instruments that they are using to facilitate inclusive business and shared their experiences on being early adopters of inclusive business policies. The workshop also included feedback from companies on what is and is not working when it comes to inclusive business policy.
IFC is the largest global investor in inclusive business having supported over 450 companies. IFC captured its experience in inclusive business in its November 2014 report: Shared Prosperity through Inclusive Business. The report taps into its evidence base to offer challenges and solutions for businesses at each step of the business value chain.
The UNDP is active in inclusive business through its Business Call to Action (BCtA) initiative, a multilateral alliance established in 2008. BCtA highlights the contributions of its 137 member companies to the evolving field of inclusive business.
IFC Report: Shared Prosperity and Inclusive Business
UNDP Report: Growing Inclusive Markets
World Bank Group: Elena Gex, 202-473-1708, firstname.lastname@example.org
UNDP: Sangita Khadka, 212 906 5043, email@example.com