G20 Hamburg Action Plan (Download PDF)

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The 12th G-20 summit in Germany’s Hamburg city adopted Hamburg Action Plan for achieving strong, sustainable, balanced and inclusive growth by tackling climate change, harnessing digitalization, and sustainable prosperity and well-being.

G20 Hamburg Action Plan

G20 Hamburg Action Plan

G20 Hamburg Action Plan

Highlights of Hamburg Action Plan

Tackle Common Challenges

Including terrorism, displacement, hunger, poverty and health threats, job creation, climate change, energy security and inequality including gender inequality for sustainable development and stability.

Trade and Globalisation

  • Harness benefits of globalization with transparency for predictable and mutually beneficial trade relations.
  • Boost employment by improving global supply chains

Policy

Use All Policy tools such as monetary, fiscal and structural- individually and collectively to achieve sustainable and inclusive growth

Paris Agreement

2015 Paris Agreement is irreversible with fulfilment of the UNFCCC commitments by developed countries

Sustainable Livelihoods

  • Increase innovation on sustainable and clean energies
  • Low greenhouse-gas emission energy systems
  • Harness digitalization
  • Achieve 2030 Agenda for Sustainable Development
Image of G20 Germany 2017 Hamburg

Image of G20 Germany 2017 Hamburg

Image of G20 Germany 2017 Hamburg

Global Health Systems

  • Strengthening health systems and safeguarding against health crises with help from UN
  • Combatting Anti-Microbial Resistance (AMR) hurting public health and economic growth

Transparency – Beneficial Ownership

  • Fight against corruption, tax evasion, terrorist financing, and money laundering
  • Implementation of the international standards on transparency and beneficial ownership of legal persons and legal arrangements
  • Availability of information in the domestically and cross-border through mechanisms like Financial Action Task Force (FATF) and the Global Forum on Transparency and Exchange of Information for Tax Purposes.

Correspondent Banking and Remittances

Work plan under the Financial Stability Board (FSB) -coordinated action plan to assess and address the decline in correspondent banking relationships

Well-functioning global payment system supporting remittances, financial inclusion, trade, and openness.

Follow guidance on combating money laundering and terrorist financing in correspondent banking by Basel Committee on Banking Supervision (BCBS).

Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT)

  • Tackle all sources, techniques and channels of terrorist financing- extortion, taxation, exploitation of natural resources and antiquities, drug trafficking, bank looting, looting of civilians and cultural property, external donation, and kidnapping for ransom.
  • Swift and effective implementation of the FATF standards worldwide.
  • Implement reforms agreed by the FATF Plenary

Fossil Fuel Subsidies

  • Commitment to rationalize and phase out inefficient fossil fuel subsidies- encourage wasteful consumption.
  • Initiate a peer review of inefficient fossil fuel subsidies

Promoting Data Sharing

  • Implement recommendations of the Inter Agency Group on Economic and Financial Statistics (IAG) for sharing and accessibility of granular data.
  • Monitor progress of the Data Gaps Initiative by the G20 Finance Ministers and Central Bank Governors meeting at the October 2017 G20 Meeting.

- Published/Last Modified on: August 1, 2017

Policy/Governance

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