The objective is to set up a brainstorming by civil society actors to formulate recommendations for the forthcoming French presidency of the G20 in 2011. This group of young leaders – composed of several ministers and former ministers, NGO founders, corporate executives, university professors and journalists – along with Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, will gather in Paris on 29 and 30 June. They will launch the initiative during talks with Christine Lagarde, Minister of Economy, Industry and Employment of France and Member of the Foundation Board of the World Economic Forum; Jean-Francois Copé, Majority Leader in the French Parliament; Jean-David Levitte, Diplomatic Adviser and Sherpa to the French President, as well as several French CEOs including Maurice Levy, Chairman and Chief Executive Officer, Publicis Group; Lars Olafsson, Chief Executive Officer, Carrefour; and Henri de Castres, Chief Executive Officer, Axa.

This is the first time that young leaders from all sectors of society and from 24 different countries meet together ahead of a G20 Presidency to brainstorm and present concrete proposals. ‘At a time when this crisis poses major new challenges to policy-makers, I believe that bringing together such a rich panel in terms of sectoral diversity and regional experience is likely to emerge from the original proposals on major issues such as financial regulation, global governance, monetary imbalances, development and environment,’ said Fabrice Seiman, Co-President, Lutetia Capital, France, one of the initiators with fellow YGL Thomas Buberl, Chief Executive Officer of Zurich Financial Services, Switzerland. Seiman also pointed out: ‘One lesson to learn from the crisis is that old recipes are not necessarily the most appropriate ones to solve new problems arising from globalization and increasing interdependence among regions. New solutions must emerge and be driven by new leaders who have demonstrated high potential in their area. I am very pleased to lead this initiative and look forward to the many discussions we will have on this occasion.’

Young Global Leaders, renowned economists and all those who wish to contribute, will brainstorm from now until the beginning of the French Presidency of the G20 on five themes: financial regulation, consistency of economic and monetary policies, international governance, global risks and development. This process, under the leadership of YGLs, is open to anyone via the website http://www.theparisiniative.com. The final objective is to make public, concrete and realistic recommendations that could be endorsed by the French Presidency and supported by other heads of state of the G20.

The added value of this initiative is to give a voice to a new generation representing different sectors of society. The YGLs are under 40 years old when they are selected by the World Economic Forum to join this group. According to the Head of The Forum of Young Global Leaders David Aikman: ‘What characterises this group apart from the fact that everyone is a leader in their own field is the diversity of its members combined with a shared desire to shape a more positive future. Their professional and geographical diversity require them to find solutions acceptable to all.’ The YGLs are selected from all sectors of society: business, public sector, universities, non-profit organisations, arts and culture, and from all regions of the world. They engage in task forces addressing specific challenges of public interest. For example, ‘Table for Two’ is a YGL initiative that aims to diminish obesity in the developed world, while simultaneously fighting against malnutrition in developing countries. As such, partner organizations commit to serve healthy meals in their canteens and contribute 30 cents for each meal served, to a fund which finances school meals in developing countries.

The participants of the Paris Initiative will relay the various ideas in their respective countries to facilitate an international consensus on these proposals. The group will organise a subsequent event at the launch of the French Presidency of the G20 to present their proposals.