The Civil 20 presented its initiative on equity
The Civil 20 Task Force on Equity has published the St.Petersburg Initiative for Strong, Sustainable, Balanced, and Inclusive Growth.
In the document it is mentioned that economic inequality is growing both within and across countries. The increase in within-country income inequality is one of the persistent trends of the past three decades across most of the G20 countries.
Growing inequality has negative economic, social and political consequences, it constrains economic growth, and undermines social cohesion and political stability. Eradicating causes of inequality and turning structural barriers to equality into opportunities is fundamental for generating strong, sustainable, balanced, and inclusive growth.
In the run up to the St.Petersburg G20 Summit the Civil 20 initiated preparing a report and recommendations for the G20 focused on mitigating the risks originating from growing income inequality. A special Task Force, bringing together experts from the G20 member countries has been established to draft the report.
This set of policy recommendations on how the G20 could address inequality is a product of broad consultations. It builds upon the analysis of highly competent experts and evidence from international organizations, civil society and policy communities, reflecting on the causes and practical policy cures for income inequality in the G20 member countries, as identified in the country reports prepared by and for the members of the Civil 20 Task Force on Equity (currently including Australia, Canada, China, France, India, Indonesia, Mexico, the Republic of Korea, Russia, Turkey and the USA).
Building on the G20's fundamental mission of making globalization work for the benefit of all the G20 should agree on the Saint Petersburg Initiative for Strong, Sustainable, Balanced, and Inclusive Growth, affirming the value of equality and inclusion along with economic growth and efficiency. The implementation of the initiative could begin with the adoption of general principles strengthened by specific supporting actions relevant to all G20 members.
The full text of the Initiative can be found here