Paris, 8 May 2020
The private-public alliance to address inequalities and create opportunities for all is more critical than ever. The OECD is supporting, with its evidence and analysis, all strands of the work. The OECD’s analyses confirm that the global health crisis comes with unprecedented financial, economic and social repercussions in the 21st century.
For the first time, people are looking almost equally at government (63%) and business (62%) to act, according to the 2020 Edelman Spring Trust Barometer. B4IG members are responding to this call, stepping up collective financial support and facilities totaling more than €38 bn and launched a collective call for an inclusive recovery.
Gabriela Ramos, OECD Chief of Staff and G20 Sherpa says that “B4IG was a good idea before the COVID-19 crisis, and it is even more important after COVID. Given its asymmetric impacts, and the harsh effect on the most vulnerable, COVID is a wake-up call to upgrade our efforts and reduce inequalities of income and opportunities. B4IG is responding to this call. Disadvantaged children, women and low-income workers are carrying the heaviest burden of the crisis. We have a responsibility to support them. It is a moral imperative, but it is also the only way to keep our societies going and to build a more balanced future. The OECD is proud to support these efforts and to join forces with the private sector, bringing our analytical capacity, and our commitment with a growth model that puts people’s well-being and the planet at the centre. We will continue working with B4IG, as part of our Inclusive Growth initiative, as well as with governments, majors and foundations committed to this cause.”
Emmanuel Faber, Danone CEO and chairman of B4IG Board says that “At the time we launched this coalition last August, no one could imagine we’ll be facing a situation such as the Covid-19. With this sanitary crisis comes the economic one and if we are not collectively softening its effects, an unprecedented social crisis will follow. The role of the private sector in responding to this crisis and driving an inclusive and green recovery is fundamental. But no company can face global issues alone. Collaboration has never been as critical. The members of B4IG have shown real leadership to date; I am convinced that by working together and with governments, we can go much further. We must capitalize on this moment to build the companies – and societies – of the future.”
Read the business coalition press release: English, French
Examples of initiatives and CEO commitments: English, French