Month: October 2020

RIYADH, Saudi Arabia, 26 October 2020.

Business 20 (B20) Saudi Arabia, the official voice of the global private sector to the G20, will host the B20 Summit virtually on October 26-27th, 2020, bringing together global leaders from business, academia, civil society and international organizations to discuss the world’s most pressing economic issues affecting communities today. Saudi Arabia is the first Middle Eastern country to ever host the G20 Presidency, representing the region and the developing world.

“Rooted in our mission to drive Action Through Collaboration, the B20 Summit is the culmination of the efforts of our more than 650 members, who worked tirelessly this past year to develop action-oriented policy recommendations to the G20 across several issue areas. 2020 has been an incredibly challenging year as communities around the world deal with the impact of the pandemic, and our leaders must act with urgency to address their immediate needs while looking into building a more inclusive and sustainable future,” said Mr. Yousef Al-Benyan, Chair of B20 Saudi Arabia. “I look forward to welcoming renowned global leaders and to the fruitful discussions that will take place at the Summit.”

Under this year’s B20 theme, Transforming for Inclusive Growth, discussions taking place at the Summit will address the post-pandemic recovery and how collaboration between parties can help build back a more sustainable, inclusive global economy. Within this context, discussion topics will focus on the role of multilateral organizations, the digital economy, how to build a more sustainable future and leveling the playing field for women in business.

Mukhisa Kituyi, Secretary-General, UN Conference on Trade and Development (UNCTAD), who will be speaking on the panel Redesigning Multilateralism for a New Era, shares his perspectives ahead of the discussion: “The COVID-19 pandemic has accelerated the shift towards the world of the future. And it is crucial that our institutions keep up with the rapid pace to ensure no one is left behind. The changes we make now will have a lasting impact on our world as our economies and societies recover.”

“Policymakers around the world have already taken extraordinary and synchronized measures to curb the spread of the pandemic and avoid massive bankruptcies and layoffs. The IMF contributes to these efforts by providing policy advice and financing – more than $100 billion was extended already to 81 countries. We urge further efforts for international cooperation to preserve stability, support confidence and build forward to a more sustainable and inclusive recovery,” adds Kristalina Georgieva, Managing Director, International Monetary Fund (IMF), on the role of multilateral organizations.  

Speaking on the second day, which will focus on digital economy, trade and participation of women, Diane Wang, Founder & CEO, DHgate, and Co-chair, Digitalization Taskforce at B20, notes: “COVID-19 has had a devastating effect on the digital divide, and especially the gender digital divide. Women-owned businesses typically have access to fewer resources than their male-owned counterparts. Yet the rapid digitalization of the last few months can bring long-term opportunities to millions of women and girls, allowing them to contribute to economic growth.”

Other confirmed speakers of the B20 Summit include HRH Princess Reema Bint Bandar, Saudi Arabia’s Ambassador to the US, Gordon Brown, UN Special Envoy for Global Education and former Prime Minister to the UK; Amin Nasser, President & CEO, Saudi Aramco; Carly Fiorina, Chairman, Carly Fiorina Enterprises; Bill Winters, CEO, Standard Chartered Bank; and Patrick Pouyanné, CEO, Total, amongst other prominent leaders from G20 countries. The full agenda of event, which will be livestreamed on B20’s Twitter and YouTube channels, can be accessed here.

In early October, B20 Saudi Arabia announced 25 policy recommendations to reinvigorate the global economy. The policy actions, delivered to G20 Leaders, focus on key issues such as digitalization, free and fair trade, sustainable finance and infrastructure, mainstreaming women in business, integrity and compliance, climate change and sustainability, and the future of work and education. The full set of policy actions can be viewed here.

Mr. Jaime Augusto Zobel de Ayala, Chairman & CEO, Ayala Corporation, is the Co-chair of Trade and Investment Taskforce at B20 Saudi Arabia. As part of the Taskforce leadership, he has been an instrumental part of the policy formulation process, providing his continuous guidance and expertise to other leaders and members.

“The pandemic we face today has abruptly placed the world at an unprecedented junction in our shared history. This is a health emergency with a grave socio-economic impact on the lives of many around the world, with no geographical boundaries,” said Mr. Jaime Augusto Zobel de Ayala, Chairman & CEO, Ayala Corporation, and Co-chair, Trade and Investment Taskforce at B20. “The path to recovery requires that we all work together to cooperate, not compete, for economic recovery. It is only through committed cooperation that we can turn this crisis into an opportunity for truly inclusive and sustainable growth to build back better into a more just and equitable world,” he further added.

Further information on B20 Saudi Arabia:
Contact Us: connect@b20saudiarabia.org.sa
Reach Us: +966 (11) 280 4947
Visit Us: www.b20saudiarabia.org.sa

About B20
The Business Twenty (B20) is the official G20 dialogue with the business community. As the voice of the private sector to the G20, it represents the global business community across all G20 members and all economic sectors. Formed in 2010, it is the first engagement group of the G20.

The B20 supports the G20 through specific policy recommendations, the consolidated representation of business interests and economic expertise. It also fosters dialogue between the public and private sector.

Ayala Corporation once again earns the nod of the Ethical Boardroom as a holding company with the Best Corporate Governance in Asia and Australasia.

“We believe that adherence to good corporate governance principles is essential for the achievement of our strategic goals,” said Solomon Hermosura, Ayala Corporation’s corporate secretary and corporate governance group head. “This recognition proves that Ayala continues to raise the bar of good governance by pursuing measures that bring up the level of awareness and practices in the organization to help drive value creation and long-term growth.”

Ayala first received such an accolade in 2017. This 2019, Ayala is joined by Globe Telecoms, which received a Best Corporate Governance Award under the telecom company category. Ayala and Globe are the only Philippine companies that made it to the list.

“Implementing good corporate governance ensures organizations conduct their business in a fair and ethical manner, considering the interests of all its stakeholders to achieve long-term and sustainable growth,” the citation reads.

“The awards recognize the outstanding leadership from boards who have raised the bar to ensure that strong corporate governance plays an essential part in protecting and enhancing long-term value for all stakeholders.”

The Ethical Boardroom is a London-based magazine and website that is trusted by influencers for its unparalleled track record in delivering in-depth coverage and critically aware analysis of global governance issues. Full list of winners can be viewed on https://ethicalboardroom.com/corporate-governance-winners-2019-asia-australasia/.

MAKATI CITY — With the pandemic presenting novel challenges that shake companies and governments, Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala shares his thoughts on leadership that can withstand the changing times.

Zobel, a graduate of Harvard Business School, said in a webcast hosted by ATR Asset Management that no specific leadership style could work in all types of crisis. But surely, he said, people need a leader who has a point of view.  

“You need to have a sense of what the future will look like. You need to have a sense of how things should be run,” he said.  

According to Zobel, good leaders should also be able to connect the dots, bringing together different ideas and facts and using them to create a holistic road map to a future that is far from the status quo. They must be authentic and bold, willing to take risks and go out of their comfort zones to look for the best solutions to a problem. In addition, all leaders should have empathy and be comfortable listening, understanding, and connecting to people.  

“Empathy is underrated. Showing empathy in this day and age is important—understanding people, listening to them, having a sense of what’s important to them,” he said.  

All leaders should also be sensitive to the changing needs of every generation. Zobel, who joined Ayala in 1981 as a fresh graduate, said he spent a lot of time working with non-profit organizations that gave him a view of the different social and environmental pain points faced by the country.  

As the first business leader from the Philippines and Southeast Asia to be recognized by the United Nations for championing sustainability, he spearheaded the creation of a framework that is far more inclusive and engaged in addressing different social and environmental pain points. This framework is called the Ayala Sustainability Blueprint, which assigns specific UN sustainable development goals to each business unit.  

“I was very happy to integrate it to Ayala because people could see that the role of a corporation goes far beyond its financial impact,” he said. “Corporations are part and parcel of the very progressive fabric of an economy. This sustainability blueprint shows the different roles we play in a society.”    

Finally, Zobel highlights the importance of prioritizing cooperation rather than competition in this time of crisis. The Ayala group of companies have been actively working with the national and local governments in building facilities and setting up equipment to expand the country’s testing, tracing, and treatment capacity through Taskforce T3. The Ayala group is also working with other private companies to safely reopen the economy.    

“It’s cooperation that has led to significant successes in this pandemic,” said Zobel, who is among the founding partners of the TaskForce T3. “It is a time for all of us to learn to cooperate rather than be at odds with each other.”  

For Zobel, the new normal should see private companies and the government working together to address the many pain points that the pandemic may bring. “We either succeed together or not. It is a time for all of us, particularly the private and the public sectors, to learn to cooperate rather than be at odds with each other.”  

As the first business leader from the Philippines and Southeast Asia to be recognized by the United Nations for championing sustainability, Ayala Corporation Chairman and CEO, Jaime Augusto Zobel de Ayala, spearheaded the creation of the Ayala Sustainability Blueprint launched last April 2019. The blueprint assigns specific UN Sustainable Development Goals to each of the group’s companies to makes its businesses more inclusive in addressing different social and environmental pain points. “I was very happy to integrate it to Ayala because people could see that the role of a corporation goes far beyond its financial impact. Corporations are part and parcel of the very progressive fabric of an economy. This sustainability blueprint shows the different roles we play in a society,” said Zobel at the ATR Asset Management virtual webcast entitled “ESG & Sustainable Investing: The Rise of Purpose” held last October 15, 2020. (File photo: August 2019)