Leaders of the G20 convened in Rio de Janeiro, Brazil, on November 18 and 19, 2024, to discuss various pressing international issues, including climate change and global political and economic tensions. This year’s summit took place just weeks after Donald Trump’s successful return to the White House following his first term, during which he targeted multilateral arrangements and withdrew the U.S. from the Trans-Pacific Partnership and the Paris Climate Agreement, raising doubts about the group’s ability to issue a cohesive final statement.
The G20 leaders addressed an agenda reflecting a shift in the international system, attempting to support multilateral consensus on sensitive issues, such as the ongoing conflicts in Ukraine and the Middle East. The summit’s motto, “Building a Fair World and a Sustainable Planet,” emphasized the importance of addressing poverty and climate change, reforming international governance, with a focus on inclusive growth, environmental sustainability, and enhancing international cooperation to confront global challenges.
Mixed Results
The G20 summit yielded several successes that represent progress in the trajectory of multilateral international cooperation on several pressing issues prioritized by the Brazilian presidency of the summit, though it simultaneously failed to achieve tangible successes in other areas. This is outlined in the joint declaration issued by the leaders on November 18, which includes:
Launch of the Global Coalition to Fight Hunger and Poverty: One of the Brazilian president Luiz Inácio Lula da Silva’s top priorities was to establish a global coalition against hunger, which he successfully announced during the summit’s opening on November 18, 2024. So far, 84 countries have signed on, supported by charitable organizations, including the Rockefeller Foundation and the Bill and Melinda Gates Foundation. The coalition aims to unite global initiatives to finance hunger-fighting campaigns and replicate successful programs from various countries, targeting to reach half a billion people by the decade’s end, reducing what Lula, raised in a poor family, describes as “a plague and a shame on humanity” that is preventable. Lula stated: “Hunger and poverty are not a result of scarcity or natural phenomena; they are a product of political decisions,” adding: “In a world that produces nearly six billion tons of food each year, this is unacceptable.”
Support for a Peaceful Solution to the War in Ukraine: The war in Ukraine dominated the G20 negotiations after the U.S. granted Kyiv permission to attack Russian territory with long-range missiles supplied by Washington. Russia pledged to respond if attacked. Chinese President Xi Jinping, who, along with Brazil, urged Kyiv to engage in peace talks with Russia, asked the G20 to help “calm” the war. Following a major Russian airstrike on Ukraine on November 17, European diplomats pressured to reconsider previously agreed language on global conflicts but ultimately relented. In their closing statement, G20 leaders expressed support for “all relevant and constructive initiatives that promote a comprehensive, just, and lasting peace” in Ukraine and condemned “the threat or use of force to seize territory,” mirroring language from last year’s summit, but they did not mention Russia directly as the European countries and the U.S. had hoped. Notably, President Vladimir Putin did not attend the summit; Moscow was represented by Foreign Minister Sergei Lavrov.
Call for a Ceasefire in Gaza and Lebanon: G20 leaders, including staunch supporters of Israel like the U.S. and Argentina, as well as more pro-Palestinian countries like Turkey and Brazil, called for a “comprehensive” ceasefire in Gaza and Lebanon. They mentioned that the ceasefire in Gaza should align with the U.N. resolution backed by the U.S. calling for a lasting truce in exchange for Hamas releasing all prisoners and requested a ceasefire in Lebanon to allow residents to safely return home on both sides of the blue line dividing the Lebanese and Israeli armed forces. Similar to Russia, the joint declaration avoided directly condemning Israel, urgently calling for more aid and protection for civilians while highlighting the disastrous humanitarian situation in both cases.
Agreement on the Importance of Reforming Global Governance: Leaders committed to working toward a “transformative reform” of the U.N. Security Council to ensure it aligns “with the realities and requirements of the 21st century, making it more representative, inclusive, efficient, effective, democratic, and accountable.” The declaration stated: “We call for an expanded Security Council that improves the representation of regions and groups that are unrepresented, such as Africa, Asia-Pacific, and Latin America and the Caribbean.” Brazilian President Lula has been advocating for reform of the Security Council since his first two terms in office from 2003 to 2010, but this call has gained little traction. As the entity tasked with maintaining international peace and security, the Council has not changed from its original makeup in 1945. Five nations that were dominant powers at the end of World War II (the U.S., Russia, China, the UK, and France) hold veto power, while 10 countries from different regions serve two-year terms as non-permanent members. There is currently a consensus that, after nearly eight decades since the U.N. was established, the Security Council must expand to reflect the world of the 21st century. However, the central dilemma and major disagreement remain on how to achieve this, and the G20 declaration does not answer this question.
Limited Progress on Climate Finance: In their joint declaration, leaders agreed that the world must reach an agreement by the end of the U.N. Climate Change Summit COP29 in Azerbaijan on the financial target for how much money wealthy countries should provide to the poorest developing nations. This announcement was expected to revive stalled U.N. climate negotiations in Azerbaijan, seen as the main sticking point in these discussions. However, G20 leaders acknowledged in their closing statement the need to “significantly scale up climate finance from billions to trillions from all sources.” Most importantly, they did not specify who would provide these trillions, nor was there a direct affirmation of the commitment to a “fair, orderly, and just transition” away from fossil fuels, which was endorsed during the COP28 climate summit in Dubai in 2023. This led some experts to argue that the G20 leaders did not rise to the challenge posed by climate change globally; the ambiguity in the G20 declaration threatens to undermine trust in negotiations, given that the group’s influence is crucial to bridging the gaps between developed and developing countries, with its member states accounting for over three-quarters of greenhouse gas emissions. Still, some view that emerging countries won in these negotiations; wealthy countries, particularly European ones, sought for emerging nations like China and Brazil to share the costs of global climate finance. Brazil and other countries considered this demand unacceptable, and it was not included in the final declaration as the developed nations wished.
Breakthrough on the Proposal for Taxing the Extremely Rich: Lula managed to rally support for an attempt to raise taxes on the wealthy through a non-binding pledge in the leaders’ declaration to “cooperate to ensure effective taxation on ultra-high-net-worth individuals” and establish mechanisms to prevent them from evading tax authorities. This progress came after initial opposition to the proposal from several global powers, including the U.S., Germany, and Argentina. However, the summit leaders’ statement noted that this type of cooperation should be “fully respecting tax sovereignty.” Gabriel Zucman, an inequality economist appointed by the Brazilian G20 president to draft a study on this issue, praised the statement as a “historic decision.” Such a tax would affect about 3,000 people globally, including around 100 in Latin America, with aims to use these funds to finance efforts to combat climate change and hunger.
Significant Implications
The outcomes of the 2024 G20 summit and the discussions that took place on its sidelines contain several significant implications for both the current international system and the future of multilateral cooperation, as well as the group itself:
Increased International Concerns About Trump’s Return to Power: Brazilian officials acknowledged that some of the issues on the G20 agenda – including sustainable development and taxing the wealthy – might lose momentum once the elected U.S. President Donald Trump starts shaping global priorities from the White House. Discussions among the G20 leaders regarding trade, climate change, and international security in future summits will likely clash with the sharp changes in U.S. policy that Trump has pledged upon taking office, from tariffs to a negotiated resolution for the war in Ukraine. In this context, some fear Trump may play a ‘spoiler’ role in future multilateral negotiations, undermining international efforts to address escalating global challenges.
Emerging China’s Role as a Responsible Global Power: The G20 summit in Rio de Janeiro represented an important opportunity for China to demonstrate it is a more stable and predictable partner compared to the U.S. under Trump’s leadership. This may enhance China’s partnerships, not only with global south countries but also with several European states in response to Trump’s trade protectionism and his minimizing of international organizations and denial of climate change. Indeed, President Xi Jinping took the opportunity to announce a series of measures designed to support developing economies in the “global south,” from scientific cooperation with Brazil and African nations to reducing trade barriers for least developed countries. While Xi played a key role at the summit, U.S. President Joe Biden emerged as a ‘lame duck’ with only two months left in the White House. As the world awaits signals from Trump’s incoming administration, Xi was promoting China’s economic rise, including the Belt and Road Initiative after inaugurating a massive deep-water port in Peru the previous week. Although Brazil has yet to join the global infrastructure initiative, there are high hopes for other industrial partnerships as Xi concludes his visit to the country with a state visit to Brasília on November 20.
Growing Influence of Emerging Powers: The 2024 G20 summit in Brazil, along with the 2023 summit held in India, revealed the rising role and influence of several emerging powers in the international system. These countries aim to leverage their hosting of important international gatherings and forums to showcase their capability to shape the international agenda, express concerns of global south nations, and advocate for their interests. This was evident during the recent summit in India, which announced the African Union’s joining as a permanent member of the group, as well as at this year’s Brazil summit, where the African bloc participated for the first time after gaining permanent membership status. Additionally, Brasília expanded the group’s agenda to include several issues that are a particular priority for developing countries and diversified the participating parties in the summit, which included not only government leaders and heads of state but also representatives from NGOs and global social movements, during what is known as the G20 Social Summit, held this year for the first time since the first leaders’ summit in 2008.
The summit’s final statement included several demands from social movements for global justice, combating hunger and climate change, and urgently reforming international governance. Indeed, world leaders acknowledged that Brazil’s agenda as the chair of the summit pushed the discussion beyond traditional issues defended by Western powers. German Chancellor Olaf Scholz noted on the summit’s sidelines: “We are witnessing a significant shift in global structures,” referring to the increasing weight of major developing economies. He stated: “These are countries that want to have a say, and they will no longer accept that everything continues as it has for decades.” As the summit concluded on November 19, Lula handed over the presidency of the G20 to South Africa, which will host the group next year. South African President Cyril Ramaphosa highlighted comprehensive economic growth, food security, and artificial intelligence as priorities for 2025.
Deepening Divisions Between Argentina and Brazil: On November 18, Argentine President Javier Milei announced he would not support several items in the G20 summit’s final declaration, such as regulating social media content, reforming global bodies, and the U.N. “2030 Agenda” for sustainable development, particularly increasing state intervention to combat hunger, while G20 leaders advocated adopting free-market capitalism. Nevertheless, Milei expressed that his country would not obstruct the signing and adoption of the declaration, which indeed occurred. Argentina’s position highlighted Milei’s role as a ‘spoiler’ at the G20 summit, as the apparent rift deepened between the right-wing libertarian leader and Lula, the host of the G20, who used the assembly to protest against ‘neoliberalism,’ which he blames for economic hardships and the erosion of democracies. The Argentine president previously referred to Lula as a “communist” and “corrupt,” while being an admirer of the elected President Donald Trump; Milei was the first global leader to meet Trump after the Republican victory in last week’s Florida event. As the hosting country, Brazil sought to find common ground among various G20 member states – including the U.S., China, and Russia – while continuing to convey a sense of international cooperation. Lula’s anti-hunger initiative gained support from all member states, including Argentina, after extensive last-minute negotiations.
Transforming the G20 into a Potential Arena for International Competition: The 19 member states of the group collectively represent about 85% of the global economy and over 75% of international trade. The G20 has a history of accomplishments, including its role in coordinating international efforts to stabilize the global economy during the 2008 financial crisis, effectively supporting the adoption of the Paris Agreement in 2015, and committing to combating climate change through national and collective actions. However, over the next four years, the group is likely to become a battleground for competition between major powers, especially the U.S. and China, under Trump’s pro-protectionist approach, which he pledged to impose tariffs on all goods imported to the U.S. from China exceeding 60%—far higher than those imposed during his first term. This increasing international competition could have serious implications for the group’s effectiveness in crafting international consensus on the most pressing global issues, such as climate finance and a fair and just energy transition. In this context, leaders of the G20 economies refrained from mentioning “resisting protectionism” in the joint statement on November 18, 2024, but they stated they would aim for a fair and open rules-based trading system at their first meeting since Donald Trump’s re-election as U.S. President. The statement underscored the importance of multilateral international cooperation, affirming, “The challenges facing the global community today can only be tackled through multilateral solutions for a better tomorrow and enhancing global governance for current and future generations.”
Rising Trends in International Cooperative Efforts: Amidst the increasing competition between major powers, the Rio summit revealed that the G20 remains an important platform for international cooperation on some global challenges, such as climate change, hunger, and poverty. European leaders, in particular, are pushing to maintain multilateral cooperation amid ongoing geopolitical tensions.
This was evident as French President Emmanuel Macron preempted the summit with a visit to Argentina, meeting its president on November 17, 2024, to persuade him to continue supporting the “international consensus” on global issues, including climate change, given concerns over Argentina hindering negotiations regarding the final summit statement and its potential withdrawal from the 2015 Paris Climate Agreement after Milei withdrew his country’s delegation from the ongoing COP29 climate conference in Azerbaijan. Similarly, the summit provided an important opportunity to enhance cooperation among countries that had historically experienced significant tension in their relations. For instance, a meeting took place between British Prime Minister Keir Starmer and Chinese President Xi Jinping on the summit’s sidelines, with Starmer seeking to build a “pragmatic” relationship with China.
This meeting was the first between a British Prime Minister and a Chinese President since February 2018, amid deteriorating relations between the two countries over security and human rights concerns. The British Prime Minister stated: “It is clear that China’s economy is the second largest in the world. It is one of our largest trading partners, so I will engage in serious pragmatic discussions with the president when I meet him.”
In summary, the holding of the 2024 G20 summit in Rio de Janeiro, Brazil, came at a critically important time amid prevailing uncertainty regarding the incoming administration of the elected U.S. president and growing global tensions amid wars in Ukraine and the Middle East. There were genuine concerns about the potential failure to reach a consensus among the leaders of the participating nations, given the Argentinian delegates’ objections to certain items in the draft joint declaration and their eventual reluctance to endorse the full document. However, the group’s leaders succeeded in reaching a joint declaration, overcoming deep divisions on various issues, though the wording of the declaration often remained general, lacking specific mechanisms and measures for implementation.
