Recent news surrounding the G20 has been marked by significant geopolitical tensions and discussions on trade and climate finance. The upcoming G20 summit in Brazil has seen leaders grappling with issues such as the strained relationship between Brazil and tech billionaire Elon Musk, as well as the implications of U.S. foreign policy shifts under President Joe Biden, particularly regarding Ukraine and its conflict with Russia. Additionally, the summit is set against a backdrop of critical negotiations on climate finance, with negotiators facing an impasse that leaders hope to resolve.
The G20, or Group of Twenty, is an international forum established in 1999, comprising 19 countries and the European Union. It was created to facilitate discussions on global economic stability and financial regulation, particularly in response to the financial crises of the late 1990s. The G20 represents around 85% of the global economy and two-thirds of the world’s population, making it a crucial platform for addressing pressing global issues, including trade, climate change, and international security. The forum convenes annually, bringing together heads of state, finance ministers, and central bank governors to collaborate on policies that promote sustainable economic growth and stability.