February 9, 2025

G20 Summit 2024

Current Context : The 2024 G20 Summit, hosted in Rio de Janeiro, Brazil, concluded with the adoption of the Rio de Janeiro Declaration.

Theme : “Building a Just World and a Sustainable Planet”, reflecting its focus on equity, climate action, and global reforms.

Focus Areas of the Summit :

Social Inclusion and Poverty Eradication:

  • Global Alliance Against Hunger and Poverty: Aimed to provide cash transfers to 500 million low-income people and school meals to 150 million children by 2030.
  • Focused on sanitation, drinking water access, and addressing racial inequalities.

Climate Action and Energy Transition:

  • Established Task Force for Global Mobilization Against Climate Change to boost private capital flow for climate initiatives.
  • Reaffirmed the Paris Agreement and committed to phasing out inefficient fossil fuel subsidies.
  • Supported COP30 to be held in 2025 in Belém, Brazil.

Reform of Global Governance:

  • Committed to reform the UN Security Council for inclusivity and accountability.
  • Endorsed the G20 Roadmap for Multilateral Development Banks (MDBs)to enhance support for development goals.

Economic Measures:

  • Introduced progressive taxation for billionaires to reduce global inequalities.
  • Advocated for ethical development and application of artificial intelligence.
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