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Text of G20 Commitments Selected for Compliance Assessments, 2008-12

Compiled by G20 Research Group
Commitments contained in the G20 Summit Documents
issued at the summits between 2008 and 2012
Total number of commitments assessed = 107

Note: Unless otherwise indicated, compliance was assessed by the G20 Research Group.

Commitment Text

Washington, November 2008 (N=4)

2008-4
(Macroeconomic) [1]
[As immediate steps to achieve these objectives, as well as to address longer-term challenges, we will:] Use fiscal measures to stimulate domestic demand to rapid effect, as appropriate, while maintaining a policy framework conducive to fiscal sustainability.
2008-5
(Development) [1]
[As immediate steps to achieve these objectives, as well as to address longer-term challenges, we will:] Help emerging and developing economies gain access to finance in current difficult financial conditions, including through liquidity facilities and program support.
2008-33, 34, 35
(Trade)
Within the next 12 months, we will refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organizations (WTO) inconsistent measures to stimulate exports
2008-76
(Financial Regulations) [2]
National and regional authorities should also review business conduct rules to protect markets and investors, especially against market manipulation and fraud and strengthen their cross-border cooperation to protect the international financial system from illicit actors.

London, April 2009 (N=6)

2009-19
(Macroeconomic)
We are resolved to ensure long-term fiscal sustainability and price stability and will put in place credible exit strategies from the measures that need to be taken now to support the financial sector and restore global demand
2009-62-68
(Trade)
We reaffirm the commitment made in Washington: to refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organisation (WTO) inconsistent measures to stimulate exports
2009-39
(Financial Regulations)
We will amend our regulatory systems to ensure authorities are able to identify and take account of macro-prudential risks across the financial system including in the case of regulated banks, shadow banks, and private pools of capital to limit the build up of systemic risk;
We will ensure that our national regulators possess the powers for gathering relevant information on all material financial institutions, markets, and instruments in order to assess the potential for their failure or severe stress to contribute to systemic risk. This will be done in close coordination at international level in order to achieve as much consistency as possible across jurisdictions;
2009-75-76
(Development)
We reaffirm our historic commitment to meeting the Millennium Development Goals and to achieving our respective ODA pledges, including commitments on Aid for Trade, debt relief, and the Gleneagles commitments, especially to sub-Saharan Africa.
2009-78
(Development)
We are making available resources for social protection for the poorest countries, including through investing in long-term food security and through voluntary bilateral contributions to the World Bank's Vulnerability Framework, including the Infrastructure Crisis Facility, and the Rapid Social Response Fund.
2009-84
(Climate Change) [2]
We agreed to make the best possible use of investment funded by fiscal stimulus programmes towards the goal of building a resilient, sustainable, and green recovery.

Pittsburgh, September 2009 (N=15)

2009-117
(Macroeconomic)
[We will:] promote more balanced current accounts and support open trade and investment to advance global prosperity and growth sustainability, while actively rejecting protectionist measures.
2009-107
(Trade)
We will keep markets open and free and reaffirm the commitments made in Washington and London: to refrain from raising barriers or imposing new barriers to investment or to trade in goods and services, imposing new export restrictions or implementing World Trade Organization (WTO) inconsistent measures to stimulate exports and commit to rectify such measures as they arise.
2009-9
(Financial Regulations)
We committed to act together to raise capital standards, to implement strong international compensation standards aimed at ending practices that lead to excessive risk-taking, to improve the over-the-counter derivatives market and to create more powerful tools to hold large global firms to account for the risks they take.
2009-40
(Financial Regulations) [2]
We commit to conduct robust, transparent stress tests as needed
2009-96
(Corruption) [1]
We will work with the World Bank's Stolen Asset Recovery (StAR) program to secure the return of stolen assets to developing countries, and support other efforts to stem illicit outflows.
2009-98
(Corruption)
We call for the adoption and enforcement of laws against transnational bribery, such as the OECD Anti-Bribery Convention, and the ratification by the G-20 of the UN Convention against Corruption (UNCAC) and the adoption during the third Conference of the Parties in Doha of an effective, transparent, and inclusive mechanism for the review of its implementation.
2009-88
(Development)
We reaffirm our historic commitment to meet the Millennium Development Goals and our respective Official Development Assistance (ODA) pledges, including commitments on Aid for Trade, debt relief, and those made at Gleneagles, especially to sub-Saharan Africa, to 2010 and beyond.
2009-97
(Development)
We note the principles of the Paris Declaration on Aid Effectiveness and the Accra Agenda for Action and will work to increase the transparency of international aid flows by 2010.
2009-89
(Development) [2]
Even before the crisis, too many still suffered from hunger and poverty and even more people lack access to energy and finance. Recognizing that the crisis has exacerbated this situation, we pledge cooperation to improve access to food, fuel, and finance for the poor.
2009-18
(Energy) [2]
to phase out and rationalize over the medium term inefficient fossil fuel subsidies while providing targeted support for the poorest.
2009-72
(Energy) [2]
Increase energy market transparency and market stability by publishing complete, accurate, and timely data on oil production, consumption, refining and stock levels, as appropriate, on a regular basis, ideally monthly, beginning by January 2010.
2009-83
(Energy) [2]
We commit to stimulate investment in clean energy, renewables, and energy efficiency and provide financial and technical support for such projects in developing countries.
2009-84
(Energy) [2]
[We commit to] Take steps to facilitate the diffusion or transfer of clean energy technology including by conducting joint research and building capacity.
2009-85
(Energy) [2]
We will intensify our efforts, in cooperation with other parties, to reach agreement in Copenhagen through the UNFCCC negotiation. An agreement must include mitigation, adaptation, technology, and financing.
2009-13&68
(Reform of International Financial Institutions)
We are committed to a shift in International Monetary Fund (IMF) quota share to dynamic emerging markets and developing countries of at least 5% from over-represented countries to under-represented countries using the current quota formula as the basis to work from.
We reaffirm our commitment to ensure that the Multilateral Development Banks and their concessional lending facilities, especially the International Development Agency (IDA) and the African Development Fund, are appropriately funded.

Toronto, June 2010 (N=14)

2010T-6
(Macroeconomic)
Advanced economies have committed to fiscal plans that will at least halve deficits by 2013 and stabilize or reduce government debt-to-GDP ratios by 2016.
2010T-16
(Macroeconomic)
Advanced deficit countries should take actions to boost national savings while maintaining open markets and enhancing export competitiveness.
2010T-17
(Macroeconomic)
Surplus economies will undertake reforms to reduce their reliance on the external demand and focus more on domestic sources of growth.
2010T-44
(Trade)
We renew for a further three years, until the end of 2013, our commitment to refrain from raising barriers or imposing new barriers to investment or trade in goods and services, imposing new export restrictions or implementing World Trade Organization (WTO)- inconsistent measures to stimulate exports.
2010T-26
(Financial Regulations)
We agreed to strengthen financial market infrastructure by accelerating the implementation of strong measures to improve transparency and regulatory oversight of hedge fund, credit rating agencies and over-the-counter derivatives, in an internationally consistent and non-discriminatory way.
2010T-53
(Corruption)
We call for the ratification and full implementation by all G20 members of the United Nations Convention against Corruption (UNCAC) and encourage others to do the same.
2010T-20
(Development)
We will continue to support development financing, including through new approaches that encourage development financing from both public and private sources.
2010T-51
(Development)
We commit to maintain momentum for Aid for Trade.
2010T-56
(Climate Change) [2]
We reiterate our commitment to a green recovery and to sustainable global growth
2010T-57
(Climate Change) [2]
those of us who have associated with the Copenhagen Accord reaffirm our support for it and its implementation and call on others to associate with it.
2010T-58
(Climate Change) [2]
We are committed to engage in negotiations under the UNFCCC on the basis of its objective provisions and principles including common but differentiated responsibilities and respective capabilities and are determined to ensure a successful outcome through an inclusive process at the Cancun Conferences.
2010T-60
(Energy)
[We note with appreciation the report on energy subsidies from the IEA, OPEC, OECD and World Bank. We welcome the work of Finance and Energy Ministers in delivering implementation strategies and timeframes, based on national circumstances, for the rationalization and phase out over the medium term of inefficient fossil fuel subsidies that encourage wasteful consumption, taking into account vulnerable groups and their development needs.] We also encourage continued and full implementation of countryspecific strategies and will continue to review progress towards this commitment at upcoming summits.
2010T-37
(Reform of International Financial Institutions)
We called for an acceleration of the substantial work still needed for the IMF to complete the quota reform by the Seoul Summit and in parallel deliver on other governance reforms, in line with commitments made in Pittsburgh.
2010T-43
(Food and Agriculture)
[We welcome the launch of the Global Agriculture and Food Security Program in fulfillment of our Pittsburgh commitment on food security, an important step to further implement the Global Partnership for Agriculture and Food Security, and invite further contributions. Looking ahead, we commit to exploring innovative, results-based mechanisms to harness the private sector for agricultural innovation.] We call for the full implementation of the L'Aquila Initiative and the application of its principles.

Seoul, November 2010 (N=35)

2010S-40
(Macroeconomic)
We will move toward more market-determined exchange rate systems and enhance exchange rate flexibility to reflect underlying economic fundamentals and refrain from competitive devaluation of currencies.
2010S-48
(Macroeconomic)
Advanced economies will formulate and implement clear, credible, ambitious and growth-friendly medium-term fiscal consolidation plans in line with the Toronto commitment, differentiated according to national circumstances.
2010S-61
(Macroeconomic)
[We will implement a range of structural reforms to boost and sustain global demand, foster job creation, contribute to global rebalancing, and increase our growth potential, and where needed undertake:] Investment in infrastructure to address bottlenecks and enhance growth potential.
2010S-96
(Trade)
We therefore reaffirm the extension of our standstill commitments until the end of 2013 as agreed in Toronto.
2010S-51
(Financial Regulations)
In particular, we will implement fully the new bank capital and liquidity standards.
2010S-83
(Financial Regulations)
We endorsed the policy framework, work processes, and timelines proposed by the FSB to reduce the moral hazard risks posed by systemically important financial institutions (SIFIs) and address the too-big-to-fail problem.
2010S-90
(Financial Regulations)
[We also firmly recommitted to work in an internationally consistent and non-discriminatory manner to strengthen regulation and supervision on] OTC derivatives
2010S-92
(Financial Regulations)
We reaffirmed the importance of fully implementing the FSB's standards for sound compensation.
2010S-122
(Development)
We also reaffirm our respective ODA pledges and commitments to assist the poorest countries and mobilize domestic resources made following on from the Monterrey Consensus and other forums.
2010S-47
(Development) [3]
In addition, we will take concrete actions to increase our financial and technical support, including fulfilling the Official Development Assistance (ODA) commitments by advanced countries.
2010S-55
(Development) [3]
[We will implement a range of structural reforms to boost and sustain global demand, foster job creation, contribute to global rebalancing, and increase our growth potential, and where needed undertake:] Labour market and human resource development reforms, including better targeted benefits schemes to increase participation;
2010-S-56
(Development) [3]
[We will implement a range of structural reforms to boost and sustain global demand, foster job creation, contribute to global rebalancing, and increase our growth potential, and where needed undertake:] education and training to increase employment in quality jobs, boost productivity and thereby enhance potential growth.
2010S-57
(Development) [3]
[We will implement a range of structural reforms to boost and sustain global demand, foster job creation, contribute to global rebalancing, and increase our growth potential, and where needed undertake:] Tax reform to enhance productivity by removing distortions and improving the incentives to work, invest and innovate.
2010S-77
(Development) [3]
"We reiterate our commitment to completing an ambitious replenishment for the concessional lending facilities of the MDBs, especially the International Development Association, to help ensure that LICs have access to sufficient concessional resources".
2010S-107
(Development) [3]
We commit to work in partnership with other developing countries, LICs in particular, to help them build the capacity to achieve and maintain their maximum economic growth potential.
2010S-108
(Development) [3]
We agree to establish a High-Level Panel (HLP) to recommend measures to mobilize infrastructure financing and review MDBs' policy frameworks.
2010S-109
(Development) [3]
We will announce the Chair of the HLP by December 2010;
2010S-110
(Development) [3]
[We will]: Improve the development of employable skills matched to employer and labor market needs in order to enhance the ability to attract investment, create decent jobs and increase productivity.
2010S-111
(Development) [3]
We will support the development of internationally comparable skills indicators and the enhancement of national strategies for skills development, building on the G20 Training Strategy.
2010S-112
(Development) [3]
[We will]: Improve the access and availability to trade with advanced economies and between developing and LICs.
2010S-113
(Development) [3]
[we will]: Identify, enhance and promote responsible private investment in value chains and develop key indicators for measuring and maximizing the economic and employment impact of private sector investment;
2010S-116
(Development) [3]
[we will]: Improve income security and resilience to adverse shocks by assisting developing countries enhance social protection programs, including through further implementation of the UN Global Pulse Initiative, and by facilitating implementation of initiatives aimed at a quantified reduction of the average cost of transferring remittances;
2010S-117
(Development) [3]
[we will] Increase access to finance for the poor and small and medium enterprises (SMEs).
2010S-118
(Development) [3]
[we will] Build sustainable revenue bases for inclusive growth and social equity by improving developing country tax administration systems and policies and highlighting the relationship between non-cooperative jurisdictions and development;
2010S-119
(Development) [3]
[we will] scale up and mainstream sharing of knowledge and experience, especially between developing countries, in order to improve their capacity and ensure that the broadest range of experiences are used to help tailor national policies.
2010S-120
(Development) [3]
We commit to and prioritize full, timely and effective implementation of the Multi-Year Action Plan, understanding its high potential to have a positive transformative impact on people's lives, both through our individual and collective actions and in partnership with other global development stakeholders.
2010S-121
(Development) [3]
We reaffirm our commitment to the achievement of the MDGs and will align our work in accordance with globally agreed development principles for sustainable economic, social and environmental development, to complement the outcomes of the UN High-Level Plenary Meeting on the MDGs held in September 2010 in New York, as well as with processes such as the Fourth UN LDC Summit in Turkey and the Fourth High-Level Forum on Aid Effectiveness in Korea, both to be held in 2011.
2010S-123
(Development) [3]
We further mandate the Development Working Group to monitor implementation of the Multi-Year Action Plan, so that we may review progress and consider the need for any further steps at the 2011 Summit in France.
2010S-124
(Development) [3]
We reiterate our strong commitment to financial inclusion and recognize the benefits of improved access to finance to lift the lives of the poor and to support the contribution of SMEs to economic development.
2010S-125
(Development) [3]
Working with the Alliance for Financial Inclusion, the Consultative Group to Assist the Poor and the International Finance Corporation, we commit to launch the Global Partnership for Financial Inclusion (GPFI) as an inclusive platform for all G20 countries, interested non-G20 countries and relevant stakeholders to carry forward our work on financial inclusion, including implementation of the Financial Inclusion Action Plan.
2010S-126
(Development) [3]
We welcome the commitment of Canada, Korea, the United States and the Inter-American Development Bank of $528 million to the Framework through grants and co-financing.
2010S-143
(Corruption)
We will lead by example in key areas as detailed in the Anti-Corruption Action Plan, including: to accede or ratify and effectively implement the UN Convention against Corruption and promote a transparent and inclusive review process.
2010S-152
(International Cooperation)
We will increase our efforts to conduct G20 consultation activities in a more systematic way, building on constructive partnerships with international organizations, in particular the UN, regional bodies, civil society, trade unions and academia.
2010S-127
(Energy)
We reaffirm our commitment to rationalize and phase-out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption, with timing based on national circumstances, while providing targeted support for the poorest.
2010S-135
(Energy)
We will take steps to create, as appropriate, the enabling environments that are conducive to the development and deployment of energy efficiency and clean energy technologies, including policies and practices in our countries and beyond, including technical transfer and capacity building.

Cannes, November 2011 (N=16)

2011-16
(Macroeconomic)
[We affirm our commitment to move more rapidly to] enhance exchange rate flexibility to reflect underlying economic fundamentals, avoid persistent exchange rate misalignments and refrain from competitive devaluation of currencies.
2011-78
(Macroeconomic)
[Advanced countries, taking into account different national circumstances, will adopt policies to] implement clear, credible and specific measures to achieve fiscal consolidation, including as set out in the country specific commitments below
2011-91
(Macroeconomic)
Emerging market economies commit to adopting macroeconomic policies to enhance the resilience of their economies
2011-47
(Trade)
We reaffirm our standstill commitments until the end of 2013, as agreed in Toronto, commit to roll back any new protectionist measure that may have risen, including new export restrictions and WTO-inconsistent measures to stimulate exports
2011-147
(Financial Regulations)
We commit to the full and timely implementation of the financial sector reform agenda agreed up through Seoul, including: implementing Basel II, II.5 and III along the agreed timelines;
2011-149
(Financial Regulations)
[We commit to the full and timely implementation of the financial sector reform agenda agreed up through Seoul, including:] clearing and trading obligations for OTC derivatives;
2011-152
(Financial Regulations)
[We commit to the full and timely implementation of the financial sector reform agenda agreed up through Seoul, including:] a comprehensive framework to address the risks posed by systemically-important financial institutions
2011-266
(Development)
We therefore decide to support the implementation and expansion of nationally-designed social protection floors in developing countries, especially low income countries.
2011-267
(Development)
We will work to reduce the average cost of transferring remittances from 10 per cent to 5 per cent by 2014, contributing to release an additional 15 billion USD per year for recipient families.
2011-236
(Energy)
We reaffirm our commitment to rationalise and phase-out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption, while providing targeted support for the poorest
2011-242
(Energy)
We commit to encouraging effective policies that overcome barriers to efficiency, or otherwise spur innovation and deployment of clean and efficient energy technologies.
2011-25
(Reform of International Financial Institutions)
We will expeditiously implement in full the 2010 quota and governance reform of the IMF
2011-227
(Food and Agriculture)
We commit to mitigate the adverse effects of excessive price volatility for the most vulnerable through the development of appropriate risk-management instruments. These actions are detailed in the development section of this final Declaration.
2011-228
(Food and Agriculture)
According to the Action Plan, we agree to remove food export restrictions or extraordinary taxes for food purchased for non-commercial humanitarian purposes by the World Food Program and agree not to impose them in the future.
2011-282
(International Cooperation)
Pursue consistent and effective engagement with non-members, regional and international organisations, including the United Nations, and other actors, and we welcome their contribution to our work as appropriate. We also encourage engagement with civil society. We request our Sherpas to make us proposals for the next meeting.
2011-156
(Socioeconomic)
We are committed to renew our efforts to combat unemployment and promote decent jobs, especially for youth and others who have been most affected by the economic crisis.

Los Cabos Summit (N=17)

2012-29
(Macroeconomic)
We reaffirm our commitment to move more rapidly toward market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals, avoid persistent exchange rate misalignments, and refrain from competitive devaluation of currencies.
2012-18
(Macroeconomic)
Advanced economies will ensure that the pace of fiscal consolidation is appropriate to support the recovery, taking country-specific circumstances into account and, in line with the Toronto commitments, address concerns about medium term fiscal sustainability
2012-177
(Macroeconomic)
Emerging market members will also promote a range of reforms to promote development, including improving the investment climate and enhancing infrastructure investment.
2012-48
(Trade)
Following up our commitment made in Cannes, we reaffirm our standstill commitment until the end of 2014 with regard to measures affecting trade and investment, and our pledge to roll back any new protectionist measure that may have arisen, including new export restrictions and WTO inconsistent measures to stimulate exports.
2012-64
(Financial Regulations)
In particular, we recognize the substantial progress to date in the priority reform areas identified by the FSB's Coordination Framework for Implementation Monitoring (CFIM): the Basel capital and liquidity framework; the framework for global systemically important financial institutions (GSIFIs), resolution regimes, over-the-counter (OTC) derivatives reforms, shadow banking, and compensation practices.] We commit to complete work in these important areas to achieve full implementation of reforms
2012-65 (Financial Regulations) We reaffirm our commitment that all standardized OTC derivative contracts should be traded on exchanges or electronic trading platforms, where appropriate, and cleared through central counterparties by end-2012, OTC derivative contracts should be reported to trade repositories and non-centrally cleared contracts should be subject to higher capital requirements
2012-68
(Financial Regulations)
We reiterate our commitment to strengthen the intensity and effectiveness of the supervision of SIFIs
2012-98
(Corruption)
We reiterate our commitment to the ratification and full implementation of the United Nations Convention against Corruption (UNCAC), and to more active engagement with the OECD working group on bribery on a voluntary basis.
2012-6
(Development)
Recognizing the impact of the continuing crisis on developing countries, particularly low income countries, we will intensify our efforts to create a more conducive environment for development, including supporting infrastructure investment
2012-40
(Development)
We will continue to foster inter-agency and international policy coherence, coordination, cooperation and knowledge sharing to assist low-income countries in capacity building for implementing nationally determined social protection floors.
2012-88
(Development)
We commit to continue to help developing countries sustain and strengthen their development through appropriate measures, including those that encourage inclusive green growth
2012-91
(Climate Change)
We reiterate our commitment to fight climate change and welcome the outcome of the 17th Conference of the Parties to the UN climate change conferences.
2012-96
(Energy)
We reaffirm our commitment to rationalize and phase out inefficient fossil fuel subsides that encourage wasteful consumption over the medium term while providing targeted support for the poorest.
2012-77
(Food and Agriculture)
[We recognize the need to adapt agriculture to climate change and we recognize the importance of improving the efficiency of water and soil use in a sustainable manner. To this end,] we support the development of and a greater use of available technologies, well-known practices and techniques such as soil fertility enhancement, minimum tillage and agroforestry
2012-41
(Socioeconomic)
We commit to take concrete actions to overcome the barriers hindering women's full economic and social participation and to expand economic opportunities for women in G20 economies.
2012-35
(Socioeconomic)
We therefore endorse the recommendations of our Labor and Employment Ministers to urgently combat unemployment through appropriate labor market measures and fostering the creation of decent work and quality jobs, particularly for youth and other vulnerable groups, who have been severely hit by the economic crisis.
2012-47
(Investment)
Recognizing the importance of investment for boosting economic growth, we commit to maintaining a supportive business environment for investors.

Notes: Number refers to the lists of commitments compiled by the G20 Research Group for each summit. See Leaders Commitments.

[1] Compliance assessed by senior undergraduate and graduate students in POL456: The G8, G20 and Global Governance (course at the University of Toronto)
[2] Compliance assessed through special studies conducted by the G20 Research Group
[3] Compliance assessed for a project on the Seoul Development Consensus commissioned by the International Labour Organization.

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