G20 Summit 2024 Highlights: All the leaders attending the G20 Summit being held in Rio de Janeiro, Brazil, on Monday discussed climate change, the ongoing war in Ukraine, Gaza and Lebanon, among other issues. During this time, along with the differences between the global powers being exposed, some successes were also achieved. Know about the five major conclusions from the G20 summit.
Table of Contents
1- Climate Change: Lofty Goals, Limited Commitments
The G20 leaders were expected to jumpstart the stalled UN climate talks in Azerbaijan. However, in their final declaration they only stressed the need to increase climate finance from “all sources” to “trillions”. Crucially, they did not say where the trillions would come from.
The leaders who attended the G20 did not repeat the commitment made at last year’s COP28 climate talks in Dubai to a “just, orderly and equitable transition” away from fossil fuels. “They have not stepped up to the challenge,” said Mick Sheldrick, co-founder of the Global Citizen campaign group.
2- Ukraine War: Renewed Push for Peace Amid Rising Tensions
The Ukraine war was a major topic of discussion at the G20. A day earlier, the US had given Kiev the green light to attack Russian territory with its supplied long-range missiles. However, Russia has also said that if an attack takes place, it is also ready to retaliate.
Chinese President Xi Jinping, along with Brazil, is pushing Kiev to hold peace talks between Russia and Ukraine. He appealed to the G20 to help calm the war. In their final statement, the G20 leaders said that they welcome all relevant and constructive initiatives that support a comprehensive, just peace in Ukraine.
Like last year’s G20 summit, condemning the “threat or use of force for territorial acquisitions”, they made no mention of Russian aggression.
3- Gaza and Lebanon: United Call for Ceasefire
The G20 leaders called for a “comprehensive” ceasefire in both Gaza and Lebanon, bringing together staunch Israel supporters like the US and Argentina with Palestinian supporters like Turkey.
They said a Gaza ceasefire should be in line with a US-proposed UN resolution calling for a permanent ceasefire in the region in exchange for the release of all hostages by Hamas. They also called for a Lebanon ceasefire that would allow civilians to return safely to their homes on both sides of the Blue Line.
4- Taxing the Rich: A Landmark Step Towards Equity
The G20 supported the idea of collaborating to ensure that high net worth individuals are taxed effectively, but added that this cooperation should be “with full respect for tax sovereignty” and should also include debate around tax principles. Economist Gabriel Zucman, who was chosen by the Brazilian G20 presidency to write a report on the issue, praised the landmark decision.
5- Combating Hunger: A Global Campaign
One of the most important issues for Brazilian President Lula was to create global solidarity against hunger. At the beginning of the summit, he succeeded in launching an initiative that was signed by 82 countries.
The solidarity aims to unite international efforts to finance the campaign against hunger and replicate programs that have proven successful in some countries. Their goal is to reach half a billion people by the end of the decade. Lula, who grew up in poverty, called it a crisis that shames humanity.
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