Wesfarmers Managing Director Chairs the B20
At the invitation of the Australian Government, Wesfarmers Managing Director Richard Goyder accepted the role of leading business engagement during Australia’s presidency in 2014 of the economic forum of global leaders known as G20.
After taking up his appointment as Chair of Australia B20 in February 2013, Richard worked with 33 CEOs from across the Australian business community to lead the process of shaping recommendations to the G20 that would most support global economic growth. These CEOs engaged with the international business community through the establishment of a CEO forum of world leaders and regular contact with others in the broader global business community.
From the outset, Richard and the Australia B20 team were determined to take a pragmatic, Australian approach to their leadership of the G20’s key business advisory body. They made economic growth and job creation their priorities and narrowed the focus to four key areas where reform would have the most impact – financing growth, human capital, infrastructure and investment and trade.
More than a year of intense activity culminated in the B20 Summit in Sydney in July 2014, the most significant gathering of global business leaders ever held in Australia. Mr Goyder handed 20 B20 recommendations to the G20 at the conclusion of the Summit, via Australia’s Treasurer, Joe Hockey, all of which were considered specific, practical and actionable by governments. Collectively, they were calculated to add several trillion dollars to global economic growth and create tens of millions of new jobs if implemented. Immediately following the Summit, the task of advocating for the recommendations began, leading up to the G20 leaders’ summit in Brisbane in November 2014.
Not only has the work of Australia B20 delivered a practical blueprint to drive global economic growth and job creation, it has also achieved secondary goals of showcasing Australia as a place to invest and Australian business as potential partners in global investment.
It has also afforded Wesfarmers an opportunity to further develop its strong relationships with key federal government representatives and policy providers, and also provided further exposure of Wesfarmers to corporates and governments from within the G20 group of nations.