In 2024, Brazil hosts two major international forums: the G20 and the B20. These events bring together the world’s leading economies and their sectors, respectively, in a global context of ongoing geopolitical conflict and uncertainties, particularly in a key political year. Approximately half of the world’s population will have voted, and the results of elections in at least 64 countries, plus the European Union, will have significant impact on future developments.
In this context, the G20, which represents 87% of the global economy, and the B20 are becoming increasingly important as key forums for dialogue and cooperation to address global challenges and promote their vision and action plan for shared prosperity. Under the theme “Inclusive growth for a sustainable future“, the B20 Brazil summit held in São Paulo on 24-25 October lays the groundwork for the G20, which will take place on 18-19 November in Rio de Janeiro.
How B20 Brazil contributes to inclusive and sustainable global growth?
B20 plays a pivotal role in accelerating the public-private agenda for socio-economic growth. The B20 Brazil, chaired by the Brazilian National Confederation of Industry (CNI), unites leading global companies to develop tangible policy recommendations, which are compiled in the B20 Communiqué document and delivered to the G20 as an action plan.
The B20 Communiqué, the culmination of months of work leading up to the summit, sets out the business vision for promoting inclusive and sustainable growth at the global level. The recommendations have been developed by the B20 working groups and action council, which are created to guide discussions around the five strategic axes aligned with the G20. These are: promoting inclusive growth and combating hunger, poverty, and inequality; accelerating a fair net zero transition; increasing productivity through innovation; fostering the resilience of global value chains; and enhancing human capital.
Specifically, each working group has developed specific positions and recommendations in seven areas identified as priorities for governments to move towards that vision. These are: Trade and Investment; Employment and Education; Digital Transformation; Energy Transition and Climate; Finance and Infrastructure; Integrity and Compliance; and Sustainable Food Systems and Agriculture. The action council, focused on Women, Diversity and Inclusion in Business, provides a cross-cutting approach to these efforts.
The relevance of digital transition in times of accelerated technological evolution
The B20 reports that approximately 67% of the world’s population, or 5.4 billion people, have access to the internet, up from 35% in 2013. Furthermore, the total value of the frontier technology market, which includes sectors such as artificial intelligence, to nanotechnology and biofuels, is expected to grow six-fold from $1.5 trillion in 2020 to $9.5 trillion in 2030.
These figures demonstrate a fundamental truth that affects all societies: the world is experiencing an unparalleled technological revolution. Digital innovation and emerging technologies are set to have a profound impact on the global economic and social landscape, with the potential to reshape the very foundations of development and well-being. Those societies that fail to adapt to this pace risk being excluded from the future prosperity maps.
The digital transition is not an end in itself; rather, it is a means of improving human well-being and addressing global challenges. As an example, the summit highlighted how digitisation can improve food production and reduce waste through the use of platforms that connect smallholder farmers with consumers, thereby combating chronic hunger. The use of telemedicine expands access to healthcare through remote consultations, while e-learning platforms provide education and training in underserved areas. Furthermore, renewable energy and smart grids play a crucial role in reducing carbon emissions and addressing climate change.
B20 recommendations for a meaningful digital transformation
The B20 believes that the digital inclusion of individuals and businesses is a prerequisite for meaningful digital transformation. However, it is important to note that obstacles to connectivity extend beyond mere broadband coverage.
The B20 reports that, while the coverage gap has decreased significantly, now standing at 5% globally, a significant usage gap of 32% persists. Other factors such as affordability, usability and digital confidence also contribute to what is known as the “usage gap”, which hinders full digital inclusion. In light of these considerations, the B20 proposes a comprehensive approach and recommends to:
- Achieve meaningful connectivity for all individuals and businesses through modern regulations and public-private partnerships that enable the rollout of affordable, resilient ICT infrastructure and address usage gaps across regions.
- Safeguard individuals and organizations and promote digital trust while enabling innovation and development by harmonizing cybersecurity and data protection standards, coordinating international cyber action, and advocating for Data Free Flow with Trust.
- Responsibly harness the transformative power of artificial intelligence by supporting its development and adoption while collaborating to achieve a shared ambition and common principles for ethics, sustainability, security, and inclusion.
Telefónica’s assessment and upcoming B20 2025
At Telefónica, we appreciate the distinction between the coverage gap and the usage gap, which highlights the necessity to rethink digital inclusion policies. We therefore endorse the recommendation to encourage digital demand and adoption, and we welcome the recognition of Telefónica Perú initiative, “Internet For All“, as a best practice for closing the digital divide.
Furthermore, we commend the proposal to promote ethical and responsible development of artificial intelligence while fostering innovation, including ensuring that its development and benefits are distributed equitably among countries and companies.
We also welcome the call for multilateral cooperation to establish harmonised cybersecurity standards and facilitate joint actions in cyberspace, with the aim of reducing the risks associated with cybercrime.
Following the summit, the B20 Secretariat will be handed over to South Africa, the next host of the G20 in 2025. South Africa will continue to promote inclusive growth for a sustainable future.
