background

G20, acting in the present with an eye to the future: "Planet" [part 2]

In view of the G20 to be held in Rome on the dates of 30 and 31 October, three authors of the thematic area "Society" of Mondo Internazionale are working on analyzing the key points of the Summit: People, Planet and Prosperity. Proceeding in an orderly manner, in the first of the three articles with reference to these three pillars we talked, after an accurate parenthesis on what the G20 is, about the People: the pandemic has struck us tragically and has further upset issues that were previously considered hot topic, from healthcare organization to social inequalities and migration. In this article we will instead address the issue of the Planet and two of the objectives set by the Italian Presidency: "safeguarding our planet" and "a fairer international tax system".

Planet

Environmental health has been at risk long before COVID-19 hit the world's population and undermined the priorities of international actors. This year the G20 wants to make an important contribution to allow faster pace of ecological transition and to try to remedy the failure of the 2015 Paris agreements. There are numerous factors that the Summit will have to take into consideration, from climate change to threats to biodiversity, which has been disappearing at an agonizing pace in recent years, and the decarbonisation and degradation of soils. To avoid a new bankruptcy it is necessary to define and implement strict monitoring rules and strategies. To ensure a transition to green economies, it is essential that large and small international players give priority to the environmental fight instead of economic interests.

If from a socio-economic and technological point of view Italy is in line with its French, German and British neighbors, it is interesting to note that it is instead in the last position, backed by Spain, as regards the accessibility of the energy market. In our country, the costs of the green transition are still unclear, and we risk not reaching the European objectives on decarbonisation.

Among the objectives that the Italian Presidency has set itself, in relation to the balance between man and nature and the consequences that this combination is having on Earth, it could not fail to safeguard our planet. As a veteran of the 2015 Paris agreements, the Italian Presidency could not circumvent the discrepancy between the ambitions and the concrete measures (not) adopted by the countries involved in the previous meetings of the heads of state. To change course, our Presidency has defined an ambitious "green agenda" that will be at the heart of this G20, with the aim of promoting the transition to viable and modern economies, stimulating debate on issues such as sustainable finance and environmental taxation .

Another goal of this Summit is a fairer international tax system. In fact, the Italian Presidency wants to support the important role of taxation in protecting the environment, which extends from a more efficient use of energy sources to the reduction of pollution. The definition of international aid to developing countries that want to direct their production towards more sustainable processes will be decisive in the discussion (we remember in fact that the costs of the procedures to implement an economic transition of production are very high), not marginal to the proposals for standardization of the environmental sustainability indices of investments and of the instruments through which they are financed.

This G20 will seek to agree to support inclusive savings with a concrete tax system, and above all to obtain a global agreement on the taxation of the digital economy and on the definition of an effective global minimum taxation. The OECD has already given the green light to the global minimum tax of 15%; despite some resistance from Ireland, Hungary and Estonia, 136 out of 140 countries have given their consent, and political support for the agreement will arrive at the G20 in Rome. The OECD has estimated $ 150 billion in revenue (to be divided among the adhering countries) and, thanks to this sum, the injustices of the tax systems could be put to an end. Still with the aim of stopping strategies that exploit fiscal imbalances to avoid paying taxes and ensuring fiscal transparency, the Italian Presidency considers it essential to check the effective implementation of anti-avoidance measures and support the automatic exchange of information to crypto-assets.

What the Italian Presidency wants to make clear in this G20 is that the environmental issue cannot remain marginal to the economic discourses of the international community, but must be transversal in the economic and fiscal fields to ensure the protection of the environment and, consequently, the our well-being.


Share the post

  • L'Autore

    Chiara Calabria

    Chiara Calabria vive a Palazzolo sull'Oglio, in provincia di Brescia. Ha conseguito la laurea triennale in Scienze Linguistiche e Letterature Straniere, curriculum Esperto linguistico per le Relazioni Internazionali presso l'Università Cattolica del Sacro Cuore di Brescia.

    I suoi studi le hanno permesso di sviluppare un ampio interesse per le relazioni internazionali, la geopolitica e culture politiche. Al contempo ha potuto approfondire le competenze di lingue straniere, potenziate tramite il programma Erasmus a Tilburg, in Olanda.

    In Mondo Internazionale ricopre il ruolo di autrice per l'area tematica Legge e Società.


    Chiara Calabria lives in Palazzolo sull'Oglio, a city in the province of Brescia. She obtained a Bachelor Degree in Linguistic Sciences and Foreign Literatures, curriculum International Relations Language Specialist at Catholic University of the Sacred Heart in Brescia.

    During her studies, she developed a strong interest for international relations, geopolitics and political cultures. She also had the chance to deepen her expertise in foreign languages, consolidated during an Exchange program in Tilburg, Netherlands.

    Within Mondo Internazionale, she is an Author for the thematic area of "Legge e Società".

You might be interested in

Image

The Silence of Afghanistan

Gemma Bui
Image

The hypothesis of a truly universal suffrage

Francesco Marchesetti
Image

Multilateral cooperation against tax avoidance

Irene Boggio
Log in to your Mondo Internazionale account
Forgot Password? Get it back here