CBI hosts global business summit ahead of G7

As part of the UK’s 2021 G7 Presidency, the CBI is – from 10-12 May - chairing the B7 group of leading business associations, in partnership with Deloitte.

The B7 acts as the voice of business for the G7 – which consists of Canada, France, Germany, Italy, Japan, the UK and the United States, along with the EU. Business Associations from South Africa, South Korea, Australia, and India will also participate.

The CBI will use the summit to mobilise international business behind an ambitious G7 agenda ahead of the all-important COP26 in Glasgow later this year.  The B7 summit will demonstrate how business leadership - and consensus among political leaders -can help to:

• Promote global trade after a year of international supply chain disruption and rising protectionism
• Create a race to the top on net-zero
• Increase the digitalisation of trade
• And strengthen  resilience to global health emergencies.

Separately, Lord Bilimoria has issued an appeal to the business community to support efforts in combatting Covid-19 in India.

Lord Bilimoria, CBI President said:

“The G7 in 2021 hopes to lead the charge on a global recovery from the pandemic. That is only possible with the engine room of enterprise stoking the fire. Global leadership in this of all years is needed now more than ever. The situation in India for instance, is worse than ever.

“With the hit to the global economy three times more severe than the global financial crisis, the task of looking to the future can feel like a challenge for tomorrow.

“But action on the climate emergency, making the case for free trade and tapping into the true potential of the digital age, are issues that cannot wait for tomorrow.

“Now is the time to start creating opportunity and prosperity in all corners – to shape our global, post pandemic future. And it is business who stands ready to lead the way in building a better world.”

Deloitte Senior Partner and CEO Richard Houston said:

“We in business have a responsibility and a role to play in helping to drive an inclusive recovery from the impact of the pandemic.

“Trade, technology and sustainability will be critical enablers of that recovery.

“We’re working with the CBI and the B7, providing our insight and experience, so that as we rebuild our economy we develop the right trading relationships to boost global growth, make the most of the transformational advantage that technology brings and act now to change the way we work and live to tackle the climate emergency.”