18th G20 Summit (Rio de Janeiro, 2024)

Dates & Theme

• Held: 18–19 November 2024
• Venue: Rio de Janeiro, Brazil
• Theme: “Building a Just World and a Sustainable Planet”

Key Outcomes – Rio de Janeiro Declaration

1. Social Inclusion & Poverty Alleviation

• Launch of Global Alliance Against Hunger and Poverty.
• Emphasis on progressive taxation and taxing billionaires (first-time inclusion in G20).
• Commitment to mobilising resources for:
  • Basic sanitation
  • Access to drinking water
• Addressing racism and promoting racial equality as part of combating inequalities.

2. Climate Change & Energy Transition

• Reaffirmed commitment to:
  • Paris Agreement goals
  • Carbon neutrality targets
• Urgent global mobilisation against climate change.
• Green financing: stressed need for more public & private financing, esp. for developing nations.
• Commitment to phase out inefficient fossil fuel subsidies.
• Promote fair, clean, sustainable energy transitions, with investment support for developing countries.

3. Global Governance & Financial Reform

• Call for comprehensive reform of global governance:
  • Strengthening the UN
  • Modernising the international financial system
  • Promoting inclusive multilateral trading system
• Highlighted ethical development of Artificial Intelligence.
• Stressed reform of international financial architecture to support climate action & development financing.

4. Unique Features of the Brazilian Presidency

• First-time commitments on:
  • Taxing billionaires
  • Sanitation & clean water access
  • Racial equality as part of development agenda
• Strong focus on poverty reduction, social justice, and sustainability.

Significance

• Marks a shift in G20 agenda towards equity-driven reforms (taxation, social justice, racial equality).
• Reinforces G20’s role in climate action and global governance reform.
• Elevates Brazil’s leadership in shaping new priorities for Global South concerns.
  
  Updated - 20 Nov 2024 , 10 : 15 AM | https://g20.org/summit-and-logos/2024-brazil/