OECD.org

Leaders of the G20 countries meeting at their summit in Hangzhou, China, have called on the OECD to help develop an agenda to build a stronger, more innovative and inclusive world economy.

The OECD has welcomed the release by China and the US of peer reviews of their fossil fuel subsidies. The peer review mechanism, first applied to the world’s two largest economies, aims to pave the way for widespread reform across G20 countries of inefficient public support to fossil fuels - a major contributor to air pollution and climate change.

The OECD has presented its new Pilot Study on Measuring OECD Countries’ Starting Positions on the Sustainable Development Goals in the margins of the UN High-Level Political Forum on the SDGs in New York. The study is a first attempt at estimating the distance that OECD countries have to travel to achieve the target levels set for 2030.

Chile has taken steps to address the rising environmental pressures from its rapid economic growth, strengthening its environmental institutions and introducing new instruments, including a carbon tax. It now needs to move ahead and thoroughly implement policy measures to stem the threat to its land, air and water, according to a new OECD report.

Labour markets are continuing to recover from the crisis and employment is set to return to pre-crisis levels in 2017, but wage growth remains weak, according to a new OECD report.