Dear G20 Finance Ministers and Central Bank Governors

A letter from the We Mean Business Coalition to G20 leaders arguing that economic recovery from COVID-19 should be paired with climate action to ensure long-term stability and resilience. It advocates for the removal of fossil fuel subsidies, mandatory climate-related financial disclosures, and the requirement that companies receiving public financial assistance adopt science-based targets and TCFD-aligned disclosures.

• The authors argue that policies reducing greenhouse gas emissions provide superior economic outcomes compared to traditional fiscal stimulus, offering higher short-term returns per dollar spent and greater long-term cost savings, while supporting a more sustainable labor market.
• The document highlights specific national and regional recovery efforts: the Next Generation EU budget allocates 25% of spending to climate-related investment for climate neutrality by 2050; France linked company bailouts to climate action; Japan included renewable energy incentives in stimulus packages; and Canada required companies receiving COVID-19 support to publish annual climate-related disclosure reports.
• The coalition calls for several systemic policy changes, including the permanent removal of fossil fuel subsidies, the implementation of a meaningful carbon price, and the adoption of mandatory climate-related financial disclosures based on TCFD recommendations.
• The letter proposes that companies receiving long-term public financial assistance must be required to implement science-based targets consistent with a 1.5°C limit, reach net-zero emissions by 2050, and integrate TCFD recommendations into their disclosures.

APA

We Mean Business Coalition (2020). Dear G20 Finance Ministers and Central Bank Governors. https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/g20-letter-2020/

Chicago

We Mean Business Coalition. Dear G20 Finance Ministers and Central Bank Governors. 2020. https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/g20-letter-2020/.

Wikipedia

{{cite press release |author=We Mean Business Coalition |title=Dear G20 Finance Ministers and Central Bank Governors |date=5 July 2020 |url=https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/g20-letter-2020/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{wemeanbusinesscoalition2020dear, author = {{We Mean Business Coalition}}, title = {{Dear G20 Finance Ministers and Central Bank Governors}}, publisher = {We Mean Business Coalition}, year = {2020}, month = jul, url = {https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/g20-letter-2020/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }