At their Summit in Seoul in 2010, G20 members recognized "the critical role of the private sector to create jobs and wealth, and the need for a policy environment that supports sustainable private sector-led investment and growth."
The G20 leaders committed to "develop key indicators for measuring and maximizing the economic and employment impact of private sector investment".
An Inter-Agency Working Group (IAWG), under the leadership of UNCTAD, was formed to support the G20 achieve this objective. The IAWG includes representatives from UNDP, ILO, OECD, World Bank and other invited organizations.
For the G20 Summit in Cannes, in 2011, the IAWG submitted an interim report, which provides a policy tool to measure, and thereby, maximize economic value-added and job creation arising from private sector investment in value chains. The need for tools to identify the development impact of policies is at the root of the indicator framework, and is particularly needed by policymakers in low-income countries to promote sustainable investment and development.
For the G20 Summit in Los Cabos in 2012, UNCTAD, in collaboration with other IAWG members provided the 'Final Report on Private Investment and Job Creation'.The indicators proposed in the report are being tested in up to six-low income countries, with the objective of developing specific policy recommendations for those countries, but also to use the experience to refine the indicator framework as necessary for full implementation.