This paper deals with infrastructure financing, combatting tax evasion and avoidance, fighting corruption and global energy governance. The question being explored in each area is ‘where can the G20 add value?'
- The key to facilitating greater investment in infrastructure is improving the investment environment. Most of the steps required to improve the environment for infrastructure investment in G20 members lie within the national decision making process. But the G20 can share best-practices, information, and encourage greater cross-country uniformity along with supporting the work of the multilateral development banks.
- Progress in combatting tax evasion and avoidance was a major outcome from the G20 summit in 2013, and Australia must maintain the momentum when it chairs the G20 in 2014. In responding to ‘base erosion and profit shifting’, Australia should focus on taxpayers in G20 countries disclosing more targeted information about their tax planning strategies. Public disclosure is a powerful tool and does not require the negotiation of complicated international agreements.
- While the G20 has brought value to the anti-corruption agenda, whether it can continue to do so will require leaders to push for a more specific set of objectives.
- International energy governance has not adapted to the major changes taking place in world energy markets. The G20 is the only forum with the political power that could improve global energy governance arrangements.
Authored by Mike Callaghan AM, Dr Stephen Grenville AO, Hugh Jorgensen, Marty Harris, Daniela Strube, Dr Maria Monica Wihardja and Philip Anderson.