BS EDIT: G20 Rio Declaration: Successes and Missed Opportunities

By Business StandardPublished On Nov 21, 2024

Highlights of G20 Rio Declaration

Addressed critical global issues: war, climate change, poverty, and governance. Reflected compromise among G20 nations amid differing agendas

Lula’s Notable Achievements

Proposed a 2% global billionaire tax, despite opposition. Led a global alliance against hunger and poverty with 82 nations signing on

Climate Commitments Fall Short

Reiterated the New Delhi goal of “billions to trillions” in climate finance. No specific plans for fossil fuel phaseouts or hydrocarbon investment curbs

Ambiguity on Global Conflicts

Ukraine: Mentioned suffering but avoided blaming Russian aggression. Israel-Hamas: Called for ceasefires but ignored land occupation in West Bank

Challenges Ahead

Trump’s potential presidency poses risks to multilateral cooperation. Likely divergence from climate goals and taxing the super-rich

Geopolitical Uncertainties

Broad-stroke agreements reflect global divisions. A missed opportunity to meaningfully advance global agendas