Financial Services Priorities for the Italian G7 and Brazilian G20 Presidencies

This year, Italy and Brazil have the opportunity to bring key global decision makers together to address current global macroeconomic challenges and to promote the importance of joint action. The International Regulatory Strategy Group (IRSG) supports the commitment by the Italian G7 and Brazilian G20 presidencies to co-ordinate global action to tackle these global macroeconomic and geopolitical challenges.

As governments seek to manage these challenges, the G7 and G20 commitment to fight against fragmentation and strengthen multilateralism will go a long way towards reducing the potentially high cost of fragmentation and the detrimental effect this may have on the world economy.

Against this backdrop, the report sets out three priority areas that we believe the G7 and G20 should focus on – sustainability, innovation and free trade. In these areas, the report outlines seven priorities with corresponding recommendations, namely on carbon pricing, sustainability disclosures, AI, cyber security, data flows, WTO reform and global regulatory fragmentation.