The International Telecommunications Union (ITU) has launched a ‘gold standard’ tool for tracking and enabling collaboration among regulators and policymakers to leverage digital transformation.

The Benchmark of Fifth Generation Collaborative Regulation, also known as the G5 Benchmark, complements and builds on the Information and Communications Technology (ICT) Regulatory Tracker.

Launched with the latest release of the ITU’s ‘Global ICT Regulatory Outlook 2020’ report, the G5 Benchmark focuses on work that has been done on collaborative regulation, offering perspectives on the regulatory road already travelled, as well as on the pathways into the future.

“Collaboration across sectors proves increasingly successful in piloting regulators and policymakers towards broad and inclusive digital transformation,” says ITU secretary-general Houlin Zhao, noting that the concept of regulation generation helps stakeholders analyse the maturity of modern regulatory frameworks.

“ICT regulators and policymakers are under increasing pressure to connect with peers across all economic sectors to leverage digital transformation as an engine for sustainable development and achieving the Sustainable Development Goals (SDGs),” he continues.

The G5 Benchmark examines policy trends, enhances the global policy debate and points to how collaborative regulation can remedy policy and implementation shortcomings in pursuit of the SDGs.

Based on 2018/19 data from more than 80 economies, the tool offers metrics to assess gaps, proposes smart roadmaps through shifting regulatory landscapes, tracks progress and proposes solutions to challenges in advancing the SDGs.

“The G5 Benchmark evaluates frameworks against 25 measurable indicators clustered into three tracks – collaboration, policy design principles and G5 toolbox elements – for regulatory reform, and [has] pinpointed how countries can accelerate progress towards the next regulatory generation,” says Zhao.

The unpacking of massive volumes of data and the delivery of a clear and concise picture of the digital regulatory landscape will assist regulators in monitoring the evolution of regulation as digital markets mature.

It also aids in comparisons among countries and the analysis of their regulatory maturity paths, as well as constructs complex models that explore the interplay between market take-up, regulation and development.

“We expect its implementation to be pivotal in creating a digital marketplace that is inclusive, sustainable and prodevelopment and a cornerstone of digital transformation,” he adds.

“By integrating the ICT Regulatory Tracker and the benchmark for collaborative regulation, we have been able, for the first time, to provide a comprehensive picture of the state of regulation in 2019, taking into account the different technology and policy paths countries may choose to follow in their digital transformation journey,” he concludes.