Rio de Janeiro, 18-19 November 2024 – The G20 Leaders met in Rio de Janeiro to address pressing global challenges and reaffirm their collective responsibility for sustainable, inclusive growth and a resilient global economy. Convened under the theme “Building a Just World and a Sustainable Planet,” the summit focused on inequality, climate change, and economic divergence.
Key highlights of the summit include:
- Global Economic Stability:
- Acknowledgement of improved resilience in economic activity, though concerns persist over uneven growth, inflation, and economic divergence.
- Commitment to structural reforms, sustainable capital flows, and policies fostering fiscal sustainability.
- Conflict Resolution and Humanitarian Aid:
- Condemnation of conflicts worldwide and a call for adherence to international law.
- Support for a comprehensive ceasefire in Gaza and Lebanon, along with expanded humanitarian assistance.
- Advocacy for a just two-state solution for Israel and Palestine.
- Sustainable Development and Poverty Alleviation:
- Launch of the Global Alliance Against Hunger and Poverty, focusing on cash transfers, school feeding programs, and microfinance.
- Emphasis on food security, sustainable agriculture, and the reduction of food waste.
- Climate Action and Energy Transition:
- Commitment to achieving net-zero emissions by mid-century and enhancing adaptation to climate impacts.
- Ambitious targets to triple global renewable energy capacity and double energy efficiency improvements by 2030.
- Emphasis on equitable energy transitions and support for developing countries through low-cost financing.
- Advancing Gender Equality:
- Strengthening efforts to close the gender pay gap, combat gender-based violence, and promote women’s leadership across sectors.
- Support for inclusive policies addressing unpaid care work and empowering women as agents of peace.
- Global Governance Reform:
- Calls for a reformed UN Security Council to better reflect 21st-century realities.
- Endorsement of a strengthened multilateral financial architecture to address global challenges effectively.
The G20 summit concluded with a commitment to promote multilateralism, fight inequalities, and foster sustainable development. The Leaders welcomed Saudi Arabia’s preparations for the next G20 cycle and South Africa’s Presidency in 2025, with a meeting scheduled in the United States in 2026.
Also read: G20 leaders focus on climate, Ukraine, and Middle East
