Priorities for Japanese G7 and Indian G20 Presidencies

In 2023, Japan and India have the opportunity to bring key global decision makers together to address the economic shocks from the Ukraine invasion and the impeding global recession and to promote the importance of joint action. The IRSG strongly supports the commitment by the Japanese G7 and Indian G20 presidencies to co-ordinate global action to tackle the current 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 economy. In these areas, the report outlines seven priorities with corresponding recommendations, namely – on carbon markets, sustainability disclosures, crypto-assets, CBDCs, data flows, global economy and last but not least – infrastructure.