2018 Open Letter to the G20 Governments

Our current economic system has generated unprecedented progress that has resulted in increased global wealth, improved health, and reducing gender inequality. However, decades of prioritising GDP growth over social equity has resulted in historically high levels of inequality, with the top 1% of the population owning two-thirds of global wealth; destruction of natural capital, with the latest IPCC report concluding we are close to reaching our 1.5°C carbon budget, and the decline of social capital through rampant corruption, with 2 out of 3 countries in the world ranking below 50 on the Corruption Perception Index (CPI), putting at stake the very essence of our democracy and freedom.

As a member of the Wellbeing Economy Alliance, a broad movement that aims to bring about a transformation of the economic system, of society and of institutions so that we all prioritise shared wellbeing on a healthy planet, the GRLI is endorsing and amplifying the open letter to G20 Governments alongside a group of business leaders, purpose-driven entrepreneurs and impact investors.

As a member of the Wellbeing Economy Alliance, a broad movement that aims to bring about a transformation of the economic system, of society and of institutions so that we all prioritise shared wellbeing on a healthy planet, the GRLI is endorsing and amplifying the open letter to G20 Governments alongside a group of business leaders, purpose-driven entrepreneurs and impact investors. The letter to the G20 attendees gathering to represent the 19 countries and European Union at the G20, includes the following recommendations:

• Form a commission for the development of a Positive Impact Economy.
• Create New Corporate Forms that build on “for-benefit” models of business practices.
• Lead for the long run by establishing a new paradigm for responsible and sustainable impact investment and triple bottom line values.