The establishment of such a panel ‘would be a permanent legacy’ of South Africa’s G20 presidency, says the G20 Inequality Committee.
The establishment of such a panel ‘would be a permanent legacy’ of South Africa’s G20 presidency, says the G20 Inequality Committee.
The G20 Inequality Committee, appointed by President Cyril Ramaphosa, has urged the formation of a new International Panel on Inequality (IPI) to support policymaking internationally, in its first report on inequality to the global forum.
The Extraordinary Committee of Independent Experts on Global Inequality, chaired by Nobel Economics Prize Laureate Joseph Stiglitz, examined global inequality and its impact on growth, poverty and multilateralism. It also proposed policies that might address global wealth inequality’s most adverse effects.
The committee’s main recommendation is for the establishment of a new permanent, international and independent panel – inspired by the Intergovernmental Panel on Climate Change (the world’s leading authority on climate science) – to assess and monitor inequality globally.
“Today’s inequalities are not the result of the laws of nature. They are the result of what we, as nations and the global community, have done. Inequality is a choice. It is not inevitable and can be reversed with political will,” reads the 69-page report published on Tuesday, 4 November.
“A very different set of feasible policy choices is not only possible but…
