UCL professor to lead South Africa’s G20 economic growth taskforce

South Africa is holding the G20 Presidency this year and as part of that has committed to developing and promoting a global economic framework that supports green growth, economic resilience and social equity.

It has entrusted three taskforces to help deliver that agenda: the first around inclusive economic growth, industrialisation, employment and reduced inequality; the second around food security; with the third focusing on artificial intelligence, data governance and innovation for sustainable development.

Professor Mazzucato will guide the first taskforce, contribute to the third one and advise working groups on trade finance, sustainable finance and international financial architecture.

The G20 is a multinational forum made up of governments representing the world’s largest economies, including 19 sovereign states as well as the European Union and African Union.

South Africa’s year-long presidency, which started in December, will culminate in a summit in Johannesburg in November.

As appointed lead of her taskforce (Taskforce One), Professor Mazzucato will aim to advance “mission-oriented” strategies for inclusive economic growth, industrialisation and reducing inequality.

Her focus will be on harnessing public sector investment and innovation to drive economic change and providing guidance on reforming global financial systems to better support green industrial strategies.

Professor Mazzucato said: "South Africa's G20 presidency presents a critical platform for advancing reforms to global financial structures and trade rules that can make green development pathways accessible to all countries.

“My recent discussions with President Ramaphosa and his cabinet revealed their commitment to using the G20 presidency to drive meaningful progress on green industrial strategies, public investment and financial reform. This moment of flux creates space for new leadership and coalitions to emerge and strengthen.”

Professor Mazzucato has been working with the Government of South Africa since 2019 as a member of its Economic Advisory Council (PEAC) which advises on green industrial strategy, state capacity and reform of state-owned enterprises. In addition, in 2024 she was co-chair of the Group of Experts for Brazil's G20 Task Force for the Global Mobilization Against Climate Change (TF-CLIMA).

Links

• Official announcement
• G20 Taskforce 1: Inclusive Economic Growth, Industrialization, Employment, and Reduced Inequality
• Professor Mariana Mazzucato's academic profile
• UCL Institute for Innovation and Public Purpose
• UCL Bartlett Faculty of the Built Environment