Multilateral systems around the world are facing multiple overlapping crises, from security and health to the international trading system. Some international systems lack a multilateral structure all together, for example, the international regime governing foreign investment flows. Some have argued that the G20 could serve as a suitable platform for initiating multilateral reforms of the international investment regime. The G20, which accounts for around 80 per cent of global foreign direct investment (FDI) flows, brings together major host and home countries of FDI. If reforms can be agreed among the G20, could this potentially open the door to more comprehensive and more effective multilateral initiatives in the international investment regime? Our research findings published in The World Economy address this question. Key insights are summarized in this policy article.