A global deal for our pandemic age
This independent report sets out actionable solutions and investments to meet the challenge of pandemics. It calls for global co-operation and decisive political commitment in establishing sustainable finance mechanisms to reduce the world’s vulnerability to future pandemics, and to avoid a repeat of Covid-19.
Report at a glance
This is a report by the G20 High Level Independent Panel on Financing the Global Commons for Pandemic Preparedness and Response. This was an independent and time-limited group, convened at the request of the G20 group of countries with a secretariat provided by Wellcome and the US National Academy of Medicine.
- Published:
- 14 June 2021
- Strategic programme:
- What's inside:
- This report provides a comprehensive framework for understanding the financial and structural changes needed to better prepare for and respond to future pandemics.
- Who this is for:
- Policymakers, private and public institutions, civil society
- Citation information:
Global Deal for Our Pandemic Age: Report of the G20 High Level Independent Panel on Financing the Global Commons for Pandemic Preparedness and Response.
- Creative commons:
Background
In 2021, G20 members agreed to establish a High Level Independent Panel on financing the global commons for pandemic preparedness and response.
The G20 High Level Independent Panel had two key goals:
- identify gaps in the financing system for the global commons for pandemic prevention, surveillance, preparedness and response
- propose actionable solutions to meet these gaps on a systematic and sustainable basis, and to optimally leverage resources from the public, private and philanthropic sectors and the International Financial Institutions
Summary
The report presents a comprehensive framework for organising global finance to reduce vulnerability to future pandemics.
It emphasises the urgent need for systematic and sustainable investments in pandemic preparedness and response, drawing lessons from the Covid-19 crisis.
Key findings
National, regional and global investments need to be targeted to address four major gaps in pandemic preparedness and response:
- globally networked surveillance and research to prevent and detect emerging infectious diseases
- resilient national systems to strengthen the foundation for global pandemic preparedness and response
- supply of medical countermeasures and tools to shorten the response time to a pandemic and deliver equitable global access
- global governance to ensure a co-ordinated, well-funded system with clear accountability for outcomes
Conclusion
The G20 High Level Independent Panel’s report underscores the critical need for a co-ordinated global effort to enhance pandemic preparedness and response.
Recommendations
The report sets out a number of recommendations, these include:
- establishing a Global Health Threats Board and a dedicated fund to support co-ordinated investments in global public goods for pandemic preparedness
- funding initiatives like ACT-A and COVAX to address current pandemic needs
- developing a systematic approach to ensure sustained and predictable financing for pandemic preparedness
The overarching goal is to build a resilient global health system that can prevent and respond to pandemics effectively, thereby safeguarding human security and economic stability worldwide.
The recommendations in this report represent the conclusions of the independent panel, and are not necessarily those of Wellcome.
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