Global Firms Join G7 Business for Inclusive Growth Coalition Powered by the OECD
G7 government-led efforts to strengthen equality of opportunity, tackle regional disadvantages and fight gender discrimination.
Companies joining forces are investing a combined total of over 1 billion USD in more than 50 current and future initiatives, benefiting 100 million people to date
- B4IG business coalition to be launched in connection with the G7 Leaders’ Summit in Biarritz, France
- Initiative sponsored by French President Emmanuel Macron, spearheaded by Danone and coordinated by OECD
- Call to action for other companies to join first-of-a-kind B4IG coalition
Paris, Thursday 22nd August, 2019 - In recognition of record-high levels of inequality, a coalition of 34 leading international companies has committed to step up business action to advance human rights throughout their value chains, build inclusive workplaces and strengthen inclusion in their internal and external business ecosystems. In doing so, they will advance G7 government-led efforts to strengthen equality of opportunity, tackle regional disadvantages and fight gender discrimination.
B4IG members have a global footprint, cover a broad range of sectors, employ more than 3.5 million people around the world and have combined annual revenues of over 1 trillion USD. The B4IG coalition is the first business-led initiative of its kind, thanks to its 360° approach to tackling inequality, international dimension, and multi-stakeholder approach focused on building synergies between companies, governments and philanthropic organizations. The coalition’s strategy rests on three pillars:
- A Business Pledge Against Inequalities to advance human rights, workplace inclusion & diversity and value chain inclusiveness;
- An incubator to design or expand new inclusive business models, piloting social innovation and private-public collaboration at the micro-economic level; and
- An inclusive growth financing forum to promote innovative financing mechanisms between business, governments and philanthropic actors.
The G7 B4IG coalition will be coordinated by the OECD, whose work has shown that inequalities hamper growth and social mobility. The coalition will benefit from OECD economic and social evaluation expertise as it advances on this agenda over the next three years. Progress and lessons learned will be shared during an annual board meeting, with CEOs and key figures from public and civil society sectors, including the International Labour Organisation and the Bill & Melinda Gates Foundation. B4IG results will be shared with the Business 7 and Labour 7 to help inform their preparation and contributions to G7, with a view to foster more inclusive macro-economic growth policies.
B4IG will be presented to President Emmanuel Macron at the Elysée Palace on Friday, August 23, ahead of the G7 Leaders’ Summit in Biarritz.
