B7: business must continue to show global leadership

Now that the UK passed on its presidency of the G7 to the German government, the CBI is also passing on the B7 chair role over to the Federation of German Industries (BDI), our German sister federation. As a member of the B7, the CBI will continue to play a leading role in shaping the business contribution to the G7, as business demonstrates leadership on the global stage.

2022 will be a key year for economic recovery – and this year’s B7 is an opportunity to further highlight business’ role in shaping the global economic recovery, as we look to Build Back Better out of the pandemic. The key to recovery lies in businesses and governments working together to drive the economy, and the CBI looks forward to working with your business throughout the process.

What is the B7 about?

The B7 brings together the business federations of the G7 countries, to shape the G7 process – including the CBI at the forefront of talks to support UK businesses.

Last year, under CBI’s presidency, the B7 provided recommendations for the G7 to shape a sustainable and inclusive global recovery – from global trade to international travel, we showed that business is ready to take the lead in delivering an economy fit for the future.

What can we expect from the G7/B7 in 2022?

The CBI will continue to provide the UK business perspective to influence the G7, which will culminate with 2022 G7 Summit currently due to take place from 26 to 28 June 2022 in the Bavarian Alps.

The German government has announced its G7 priorities. With the overall goal of progressing towards an equitable world, it will be centred around the following five areas:

1. Sustainable planet: climate, the environment and biodiversity and accelerating the global energy transition, including the establishment of an open, cooperative “Climate Club”
2. Economic stability and transformation: sustainable economic recovery and inclusive growth
3. Healthy lives: pandemic prevention and control as well as improving the international health architecture. This will cover global vaccination via COVAX and local vaccine production in developing countries
4. Investments in a better future: international cooperation for sustainable development. This will include an infrastructure initiative with the G7 taking a stronger global role in promoting socially, economically and ecologically sustainable infrastructure. Focus on climate, health, girls’ education and food security
5. Strong cohesion: promote a strong commitment to social justice, equality and inclusive digitalisation, strengthen the role of the G7 as bridge-builders and mediators for peace and security, and defend the respect for international law and a multilateral, rules-based order.

Business priorities on the global stage

The BDI will be holding this year’s B7 summit in June. In the run up to the summit, the CBI will be working with our sister federations across a number of policy areas to shape business recommendations to G7 leaders. Here is a snapshot of what to expect:

• Climate: building on commitments made at COP26, it will be critical to continue to show business leadership in the race to net-zero
• Digital: recommendations on cybersecurity, data flows, standards and semi-conductors
• Health: from global vaccination to long-term ‘pandemic to endemic’ planning, the health policy track will be a key element in shaping a global recovery
• Infrastructure partnerships: building on the G7’ work around an alternative to China’s Belt and Road, the group will look at infrastructure partnerships to finance the green transition in developing markets
• Trade: from a reinforced commitment to multilateralism, to supply chain resilience and investment, there is a lot coming up.

Want to get involved?

The CBI will play a key role in shaping the policy discussions – we need your input to guide our engagements with the B7.

Speak to Kristy to get involved, or for any additional information.