The WCHAM PLATFORM would like to share some insights on the recent news of “Guterres urges G77 and China to drive momentum for global governance reform”. This is a topic of great relevance and urgency for the global business community, as it affects the prospects of sustainable development, peace and stability, and human rights for billions of people around the world.

The G77 and China is the largest grouping of developing countries in the United Nations, representing 80 percent of the world’s population. It was established in 1964 to promote collective economic interests and enhance joint negotiating capacity on major international issues. Today, it comprises 134 member states from Africa, Asia, Latin America and the Caribbean.

The third summit of the G77 and China was held in Kampala, Uganda, on January 21-22, 2024, under the theme “Building Back Better: Towards a Resilient and Inclusive Post-COVID-19 World”. The summit was attended by heads of state and government, ministers, senior officials, and representatives of regional and international organizations. The UN Secretary-General António Guterres also participated in the summit and delivered a keynote speech.

In his remarks, Mr. Guterres highlighted the many challenges facing the world today, such as the COVID-19 pandemic and its socio-economic impacts, climate change and environmental degradation, rising inequalities and poverty, human rights violations, the digital divide, and conflicts and violence. He stressed that these challenges require collective action and solidarity among all nations, especially those of the global South.

He also urged the G77 and China to lead efforts to reform outdated multilateral institutions and frameworks that do not reflect the current realities and needs of the world. He said: “Let us face it: those that benefit most from the present global governance system are unlikely to lead its reform. So, momentum for change must come from you. I urge you to keep driving these efforts forward.”

He pointed out some areas where reform is needed, such as:

– The global financial system, which should be more inclusive, transparent, accountable, and responsive to the needs of developing countries.
– The trade system, which should be fairer, more balanced, and supportive of sustainable development goals.
– The debt system, which should provide adequate debt relief and restructuring for countries facing debt distress.
– The climate system, which should ensure that developed countries fulfill their commitments to provide finance, technology, and capacity-building to developing countries to mitigate and adapt to climate change.
– The human rights system, which should protect the rights of all people without discrimination or double standards.
– The peace and security system, which should prevent conflicts, promote dialogue and cooperation, respect sovereignty and territorial integrity, uphold international law and human rights, and address root causes of violence.

He also expressed his support for the initiatives and proposals put forward by the G77 and China on various issues, such as:

– The implementation of the 2030 Agenda for Sustainable Development and its 17 goals.
– The recovery from the COVID-19 pandemic and its aftermath.
– The strengthening of South-South cooperation and triangular cooperation.
– The promotion of regional integration and cooperation.
– The enhancement of digital cooperation and connectivity.
– The protection of biodiversity and ecosystems.
– The empowerment of women and youth.

He concluded by reaffirming his commitment to work closely with the G77 and China to advance their common agenda and interests in the UN and beyond.

As the World Chamber of Commerce Platform, we welcome the message and vision of Mr. Guterres. We believe that a more effective, representative, accountable, and inclusive global governance system is essential for achieving sustainable development, peace and stability, human rights, and prosperity for all. We also recognize the important role that the G77 and China play in shaping global policies and actions that affect our businesses and societies.

The WCHAM PLATFORM is ready to engage with the G77 and China in constructive dialogue and partnership on how to reform the global governance system and how to address the common challenges we face. We are confident that together we can build back better a more resilient and inclusive post-COVID-19 world.