Naturally, the idea is nothing new.
How do you like the [rather romantic than practical] idea of Latin being the official language of European (and effectively - world) communication?
1) It's naturally related to almost every European language family.
2) It's dead, so nobody can claim it as it's own. So, everybody will struggle equally learning it (bar, perhaps, Romanians, Moldovans, and Italians).
3) It was pretty much the epitome of Europeanness for centuries and still is a universal language of science.
4) It's fooking LATIN, 'nuff said.
I agree it would be extremely useful to have an universal language that everybody is bound to learn and that is used officially for every possible publication (e.g. every official document must be written first in this language then, maybe, in the local language).
This would be the real important bit, which language to use is relatively irrelevant.
However it's a pretty insane idea to use latin for that.
It's a dead and very difficoult language (I had to study it at school and I always considered it extremely useless), and even if it's quite elegant it also has a lot of quirks and ambiguity.
It would be much better to take an existing live language and promote it as lingua-franca for the world of science and business...
hmmm... wait, there is already one!
English, even if not widely spoken in some regions, it is the language of business and science today.
Lets build on top of it without prejudice and without useless nationalistic feelings to make it even more widely understood and used.
One could argue that mandarin-Chinese has more speakers, but English is more widely know (geographically) across the planet.
Another strategy, if we want to limit ourself to written language, is to adopt an ideographic script (e.g. Chinese).
With ideographic scripts (in their purest form) each symbol (or glyph) is a word or "meaning".
Everybody regardless of their native language would be able to read a document.
For example the glyph 狗 will be read as "Dog" by an English, "Cane" by an Italian, and "Gǒu" by a Chinese.
All of them will understand the meaning if what it was written.
Two random people from across the globe may not be able to talk to each other but they will be able to write to each other.