Monday, June 28, 2010
[IWS] OECD and the G20 web page
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
Organisation for Economic Co-operation and Development (OECD)
OECD and the G20
Financial sector reform, stimulus programs and global trade and growth were high on the agenda of the Toronto G20 Summit on 26-27 June 2010. Government leaders also reviewed commitments made at previous Summits on global challenges such as development and climate change.
Read the Secretary-General's remarks to G20 Leaders and business leaders in Toronto:
Trade and investment
The OECD, alongside the World Trade Organisation and the UN’s Conference of Trade and Development, have renewed calls on the leaders of the G20 countries to resist protectionism or the prospects for economic recovery may be wiped out.
Providing government-backed finance to help exporters is seen as an important way of stimulating trade. The OECD is hosting regular meetings to exchange information and monitor progress in the 36 countries which have agreed to co-ordinate export credit policy to help boost trade and investment during the crisis.
Fossil fuel subsidies
When G20 Leaders met in Pittsburgh in September 2009, they agreed to “rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption”. They asked the OECD together with the International Energy Agency (IEA), OPEC and the World Bank, to “provide an analysis of the scope of energy subsidies and suggestions for the implementation of this G20 country initiative”.
New analysis by the OECD based on data from the IEA estimates that ending fossil fuel subsidies could cut global greenhouse gas emissions by 10% from the levels they would otherwise reach in 2050 under “business as usual.” It argues that governments must fight the temptation to exempt certain energy-intensive industries from full compliance with carbon pricing scheme.
» Read: press release and report
Youth unemployment is set to keep rising in the months ahead. The OECD says more needs to be done to help young people find work and avoid falling into a “lost generation”.
AND MUCH MORE….
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Institute for Workplace Studies
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