ABSTRACT
This chapter offers a forward-looking, demand-responsive approach to PSI agenda setting and action taking, rather than the prevailing approach of focusing on core subjects, seeing what is undelivered, and shrinking or sinking the rest. It argues that each institution's work should address the risks and challenges most relevant to its missions and capabilities. The G20 agenda should focus on managing economic risks. The G7/8 should prioritize geopolitical and technological risks. The BRICS summit's innovative long-term agenda should address societal risks. Such an approach will serve as a solid foundation for a division of labour that maximizes the three institutions contribution to overcoming failures in global governance. However, systemic risks arise, such as severe income disparity, the unforeseen negative consequences of regulation, the prolonged neglect of infrastructure, and extreme volatility in energy and agriculture prices. These risks demand cooperation and coordination among the G7/8, the G20, and the BRICS.
