The COVID-19 pandemic has put a spotlight on how interdependent the world has become and shown how fragile many achievements are: inequalities resurfaced boldly, trust in government eroded as individual freedom was constrained, criticism of international cooperation was further fanned. And existing global challenges – climate change, biodiversity loss, migration pressure – remain. The world has reacted with old habits: major fiscal spending packages that preserve current jobs but not necessarily future jobs or the environment, a retreat to the home with women taking on most of the chores, demands that self-sustained production is better than international trade. We would do better by fostering what we call The Great Realignment, to be tackled in (at least) five areas. Social realignment requires a focus on social prosperity. Economic realignment demands that the focus is broadened beyond economic prosperity and incorporates other aspects of human well-being. Ecological realignment demands that we offer the next generation a world at least as good as the current one. Governance realignment requires the mindset of polycentric governance in which multiple actors cooperate across levels to spark collective action. Technological realignment demands mechanisms, regulation and principles to ensure that technological innovations are a benefit to all.  We can now create a momentum and take on the great realignment. The G20 is uniquely placed to initiate and steer this transformation.