G20: Quick Fix or Sustainable Solutions?
The relaxation of focus away from the politicians will only increase the intensity of focus on the business community
Thursday, April 2nd 2009 was G20 summit day. From our standpoint, as business professionals with an understanding that commerce must become synonymous with carbon in returning the global marketplace to a position of sustainability, it is interesting to note that the strap-line for the summit was:
“Stability | Growth | Jobs”
There was no mention of sustainability. So, if twenty economic powers, brought together under the auspices of representing the interests of the emerging economies of the world, are not looking for a long term solution that they can action today, what do they all want?
Well, pretty much unanimously, they want reform of the IMF - though some just want it to relax lending restrictions (i.e. longer terms, fewer requirements). Britain and the United States are pushing for an agreement on transparency regulations for tax havens. France and Germany want a tightening of lending regulation and Saudi Arabia specifically wants the size of contribution to the IMF to bring with it commensurate influence over its decisions to secure its oil stocks value… and there are lots of variations in between from all the others.
In fact, Energy & Climate Change Secretary Ed Miliband was the only person who spoke about environment at the G20 summit and then only because his title somewhat dictated the press questioning. He spoke of low carbon jobs and personal energy efficiency… in other words he trotted out the same old ‘stuff’ - whilst the news tickers were streaming announcements that additional money for this and more loan funds for that have been agreed upon (and had long ago been agreed upon by the Sherpas, since I can’t believe that in a summit where every delegate has +/- 15 minutes to state his/her case for an enforceable accord before they leave can ever create accord).
So have the leaders missed a trick or have they merely reinforced a belief that the majority of us have held for some time anyway? I rather suspect that the latter is true. At a time when the demonstration of not only moral but also commercial leadership was most sought, we have been delivered confirmation of our fears; more digital funds to be thrown at a crisis to restore the status quo – a status quo that is insupportable and unsustainable.
Which, considering the reasons behind the formation of this group after Cancun, is cause for concern and, yet again, confirmation that the solution lies with us and not with the politicians. It also raises the question of what we can really expect from Copenhagen in December. The same individuals, by and large, who were in London this month will also be in Copenhagen at the end of year… well, actually, it is more likely that seconds will represent the first ministers or presidents and that alone speaks volumes.
It is significant to note that the protest presence in Docklands was lethargic and small scale. Perhaps even those few activists we still have left are realising that politicians no longer warrant our attention.
That moron who waved £50 notes at the protesters from the Bank of England premises, shouting “loadsa money”, should be careful however; the relaxation of focus away from the politicians will only increase the intensity of focus on the business community. Now, WE need to deliver; before more windows are smashed and jaws are broken.
