The Group of Twenty (G20) is one of the most influential forums on the global stage. Established to foster economic cooperation among major global players, the G20 consists of 19 countries plus the European Union, collectively representing approximately 85% of the world’s GDP, 75% of global trade, and two-thirds of the global population. Through its efforts, the G20 aims to address significant economic and social challenges, promoting sustainable and inclusive development.
G20 Presidency: Brazil Takes the Lead in 2024
Brazil assumed the G20 presidency in November 2023, launching a leadership period that will conclude in November 2024, when South Africa takes over. During its term, Brazil has set key priorities addressing urgent national and global issues:
- Fighting Hunger, Poverty, and Inequality: Ensuring food security and social inclusion is essential for equitable development.
- Sustainable Development: Focusing on the economic, social, and environmental dimensions aligned with the UN’s Sustainable Development Goals (SDGs).
- Reforming Global Governance: Revisiting global governance structures to create a more inclusive system that reflects the realities of a multipolar world.
G20 Meetings: Building Global Consensus
During the presidency, Brazil will host over 100 meetings of working groups and specialized task forces covering topics such as trade, health, the digital economy, climate change, and gender equality. The culmination of these efforts will take place at the Leaders’ Summit on November 18–19, 2024, in Rio de Janeiro, bringing together heads of state from the G20 countries, as well as representatives from the African Union and the European Union, to discuss and shape the global agenda.
G20’s Key Objectives and Functions
The G20 plays a crucial role in coordinating global policies to ensure economic stability and foster international cooperation. Its core objectives include:
- Discussing Global Economic and Financial Issues: Members address financial risks and promote sustainable economic growth.
- Developing Common Development Strategies: The G20 tackles shared challenges such as inflation and food crises.
- Defining Macroeconomic Policies: Coordinated fiscal and monetary policies aim to maintain global economic stability.
- Promoting International Cooperation: The G20 aligns multilateral efforts, bridging the gap between developed and emerging economies.
- Strengthening the Global Financial Architecture: It seeks to reform international financial institutions to be more inclusive and representative.
A More Just and Sustainable Global Future
The G20 has established itself as a key space for addressing global challenges. Through dialogue and cooperation, its leaders aim to implement coordinated solutions that positively impact millions of people. With a focus on reducing inequalities and promoting sustainability, Brazil seeks to foster consensus on crucial issues such as poverty, climate justice, and economic equity.
At Santana Globally We Care, we believe that forums like the G20 are essential for driving global change. We support the call for promoting equality, justice, and sustainable development, and we encourage our communities to stay informed and engaged. Global change starts with local action and international collaboration, and together, we can build a fairer future for all.
