G20 boost must offer quality growth: UN

A G20 pledge to boost the global economy must deliver “decent” jobs, UN Secretary-General Ban Ki-moon says.


Australia, which holds the G20 presidency, is expected to be successful in getting Group of 20 leaders to commit to individual plans to collectively add at least two per cent to the global economy to 2018.

If this is achieved, it could inject $US2 trillion ($A2.1 trillion) into world growth and create millions of jobs.

However, it was also important to ensure there was quality growth.

“The quality of growth is just as important as is the quantity,” Mr Ban said on Saturday on the sidelines of the G20 leaders’ summit in Brisbane.

“We must pursue an agenda that advances sustainability, addresses inequalities and generates decent jobs, especially for young people.”

Mr Ban said he understood climate change would also be on the G20’s two-day meeting agenda.

He urged member countries to follow the lead of the US, China and Europe by bolstering their carbon emission reduction targets and contributing to the UN’s Green Climate Fund, set up to support developing nations.

The US is expected to announced a $US3 billion ($A3.3 billion) contribution to the fund at the meeting.

If so, the UN will have about $US6 billion ($A6.5 billion) of the $US10 billion ($A10.8 billion) it hopes to raise.

“We must act quickly and decisively,” Mr Ban said.

“We have the means to limit climate change and have a better future.”

Australia had a pivotal role in hosting this year’s summit, against a backdrop of serious security, development and environmental challenges, Mr Ban said.

G20 members should commit to providing more funds for sustainable development, by boosting aid spending and fighting corruption.

“The G20 countries possess not only the political power to set us on a better course but the political responsibility to do so,” he said.