G20 Development Working Group Submissions

COMMITMENT 26: Encourage all countries and companies to uphold the Principles for Responsible Agricultural Investment Implementation: 1 2 3 4 5 6 (1) G20 support for the PRAI and consultation at the CFS - At their summits in 2011 and 2012, the G20 Leaders encouraged all countries to support the PRAI to ensure sustained investment in agriculture. As the result of growing attention to responsible agricultural investment, a broad and inclusive consultation on the PRAI was launched in October 2012 in the context of food security and nutrition within the CFS framework, building on the Voluntary Guidelines and taking into account the PRAI. (2) Action taken by IOs -The Inter-Agency Working Group (IAWG, i.e. the FAO, IFAD, UNCTAD and the World Bank) on Responsible Agricultural Investment (RAI) produced a report entitled "Options for promoting responsible investment in agriculture” and submitted it to the DWG in June 2011. It also included an action plan to be implemented by the IAWG, as well as G20 members. The Plan includes a "twin track" approach as follows: • Track 1 consists of research on the impacts of agricultural investments and retrospective field-testing of the PRAI in selected developing countries in Africa and South East Asia to further refine and produce more operational guidance at the country level. They will also inform consultations under Track 2. The preliminary findings were presented at an official side event organized by the IAWG in Yokohama, Japan on 2nd June 2013 during TICAD-V and at a seminar in Medan, Indonesia conducted during the APEC meeting in July 2013. Saint Petersburg Accountability Report on G20 Development Commitments 30 • Track 2 supports consultations at the CFS on the RAI, which take into account the PRAI. The consultations include various stakeholders Chapter 2 Implementation of G20 Commitments on Development such as developing countries, civil society organizations, and the private sector (through the Private Sector Mechanism - PSM). The IAWG is actively involved in the CFS consultations and has committed to sharing the results of its research. Lessons Learned: The G20's support for the PRAI has generated political momentum on this important issue and laid an important basis for an inclusive consultation process at the CFS. Further scope remains for enhanced coordination and collaboration between the DWG and the private sector, including through the PSM and B20. The G20 needs to welcome and carefully examine the findings of IAWG work in order to identify what types of practices have led to particularly good or bad outcomes, and are thus to be emulated or avoided. These findings should then be incorporated into CFS discussions. In-Depth Assessment: Mitigate adverse effects of excessive price volatility for the most vulnerable through the development of appropriate risk management instruments Risks and uncertainty are inherent in agriculture and agricultural markets. Farmers, especially Казин COP OT <Women selling produce. Tajikistan.» Credit Photo: Gennadiy Ratushenko/World Bank

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