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Why The Global Foundation? Why Rome?

  • We are a trusted global platform, with unique convening power
  • We are cross-sectional – ie we bring, to the one table, people from all walks of life
  • The power of the Vatican and other faiths on global issues, yet lack of connecting platforms
  • Continuation of our rolling Ethical and Effective Global Governance project, since 1998.
  • Previous Rome roundtable, December 2014, Christine Lagarde, Cardinal Pell etc
  • Our ‘Faith in the Public Square’ initiative in Australia
  • Our other global dialogues: Beijing, Jakarta, New Delhi, Paris, Rio de Janiero, Singapore, Sydney, Washington, etc.
  • Global economic mobilisation may require deeper, more ethical considerations
  • Strong desire for participation by leaders from global corporates, institutions, etc.
  • Participation by Vatican No. 2,3,4 & of 2 Anglican Primates

The Rome Roundtable

  • Convened by The Global Foundation
  • Held at the Order of Malta HQ in Rome, over 2 days
  • Unique cross-section of 55 participants and observers, drawn from across the globe
  • Roundtable format, Chatham House rule, keynote speech by Cardinal Pell, message from His Holiness, Pope Francis
  • Participants included: Mme Christine Lagarde, Cardinals Parolin and Pell, other Vatican, Anglican Primates, CEO’s of Asia Society, World Chinese Economic Summit, Sec Gen of Commonwealth, CEO’s of McKinsey, News Corp, Anglo- American, Canadian Pension Fund, along with other global institutions, World Bank, OECD, etc.

Backdrop

  • The world economy is in a continuing phase of ‘new mediocre’
  • Agreement cannot be reached on how to solve this
  • Systems failure – governments and institutional arrangements lack commitment, impact, accountability
  • Central banks are displacing government fiscal policy (QE, Helicopter money)
  • Inequality is growing to record levels, political backlash more evident
  • De-globalisation is a real prospect, with fracturing now evident…world trade slide, global GDP 5-year forecasts are pessimistic
  • ‘Meta’-nationals, arbitrage (global finance, internet ‘new economy’) continue to have upside in this vacuum


 

Key issues

High-level focus:

  • What would it take to build a new, agreed narrative for the global economy?

3 Specifics:

  • Build partnerships for better governance, matching long-term community vision and business investment.
  • Empower women and youth, in general, for the creation of jobs and social and economic benefit.
  • Slavery-proof supply chains, to eradicate forced labour and other forms of modern slavery.



Outcomes from Rome

High-level talks…

  • Established common ground on the agenda, between leaders of faiths, business, international institutions and organisations, academia, & civil society
  • ’We’ not ‘they’ – a commitment to continue to work together, understanding and deploying our combined influence
  • Vatican, faiths and business not at odds, can be mutually re-inforcing – world media

High-level talks…combined with practical action:

  • Commitment by the world’s 400 biggest consumer goods and supermarket firms to eradicate forced labour from global supply chains, a commitment matched by the Vatican.
  • Empowering women and youth…agreed the challenge, but finding the pathways?
  • Improving governance, at global, national/regional and local levels, proposals for combinations of faith/business/institutions etc in South Africa and PNG & Pacific
  • Measuring our and others commitments and making accountable eg Sustainable Development Goals