Yunus urges G20 to take up social agenda

Friday, November 4, 2011

The current world crisis calls for an immediate broadening of the scope of the G20, said Professor Muhammad Yunus at the G20 Young Entrepreneurs Summit in France.

“It must not be a political forum with solely an economic and financial agenda anymore. Creating a social agenda for the G20 is now of utmost importance,” said the Nobel laureate at the summit that took place from Monday to Wednesday.

“I had the privilege to participate last year in the presentation to President Sarkozy of France of a report on the social aspects of globalisation, as preparatory work for the French Presidency of G20 in 2011,” he said.

Yunus said given the current structural issues in a number of European and other countries, he is convinced that it is even more important that G20 puts a priority on social issues.

He said as Presidency of the G20 will now be held by Mexico, he would like to warmly and personally thank and applaud President Calderon of Mexico for his confirmation that the Mexican Presidency of G20 will definitely carry on moving the agenda forward on the critical task of reducing the inequalities in the globalisation process.

“As ’occupy Wall Street’ movements grow in protestation against the dominance of finance over the world’s economy and in light of the widely-spread youth unemployment in OECD countries, I propose that “social business” should be brought to the agenda of G20, as one of the concrete and effective solutions to be considered by the countries for immediate implementation so as to guide capitalistic investment towards social value and jobs creation, rather than sheer profit maximisation strategies.”

Source: The Daily Star (link opens in a new window)