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International civil society debates inequalities at the G20 Finance Track
Non-governmental organizations, engagement groups and civil society presented their points of view and proposals for combating inequality in its different forms. Part of the G20 Social, the meeting debated the global economy agenda proposed by Brasil's Ministry of Finance.
G20 Radio Bulletin 86 - The G20 is currently discussing a joint action plan to reduce global economic inequalities
During the Global Economy Working Group meeting, member countries of the forum unanimously acknowledged the pressing need for effective economic policies. The discussions encompassed critical topics including taxation strategies targeting super-rich individuals and the synchronization of social and economic metrics. Listen to the coverage and learn more.
Brasil is spearheading the climate agenda and endeavoring to promote green finance initiatives
At the parallel event during the G20 in Washington, participants focused on exploring tools and platforms aimed at amplifying the effectiveness of sustainable finance. The panelists deliberated on the significance of national strategies, knowledge-sharing, and risk mitigation tools in financing initiatives for ecological transformation.
Disintrusion: a milestone in indigenous territorial defense
The Amazon Rainforest spans nine countries in South America: Brazil, Bolivia, Peru, Colombia, Venezuela, Suriname, Guyana, French Guiana, and Ecuador. Brazil harbors 60% of the rainforest. In 2023, deforestation in the Brazilian rainforest dropped 22% when compared to 2022, as a result of supervision and control measures. One of them goes by a name that is still relatively unknown: the disintrusion of Indigenous Lands. Preservation of forests as part of the fight against climate change is one of the priorities of the Brazilian presidency of the G20.
“Pandemics have no borders”: global debate on how to improve economic resilience to sanitary crises is essential
During the side event “Simulation Exercise for Economic Resilience to Pandemics”, part of the IMF Spring Meetings taking place in Washington, D.C., in the United States, Ambassador Tatiana Rosito, the G20 Finance Track coordinator, cautioned that the crisis brought on by the Covid-19 pandemic has highlighted the need for a reassessment of global paradigms regarding joint resilience capacity, aimed at preserving the finances of nations and their populations.
Brasil is to invest R$27 billion in ecological transition with international support
Partnership between the Brazilian government, the World Bank and the IDB aims to promote a green economy and attract foreign investment. International cooperation seeks to strengthen climate finance and create a favorable environment for sustainable investments in the country.
Economist Gabriel Zucman proposes that billionaires pay at least 2% in annual taxes on their fortunes
During a press conference this Thursday (29), Economist Gabriel Zucman, serving as Minister Fernando Haddad's special guest in the G20 debate on the taxation of large fortunes, advocated for the necessity of a globally coordinated minimum tax on substantial fortunes, set at a minimum of 2% annually.
French President reinforces support for climate agenda and preservation of the Amazon
The President of France, Emmanuel Macron, began his visit to Brazil, at the invitation of President Lula, on the island of Combu, in Pará, where the chief Raoni Metuktire was awarded with the highest commendation granted by the French government. On the occasion, the presidents adopted declarations in the environmental area, a priority of the Brazilian mandate in the G20. They were: Brazil-France Call for Climate Ambition from Paris to Belem and Beyond; and Action Plan on the Bioeconomy and the Protection of Tropical Forests.
Rosito: funding for sustainable development needs to increase from billions to trillions
In a virtual meeting, G20 vice-ministers of Finance and vice-presidents of central banks defend financing strategies to face the climate emergency. Led by Tatiana Rosito, coordinator of the Finance Track, participants discussed how to increase financing towards sustainable development; international cooperation to tax the super-rich; and the reform of multilateral banks. The next discussion at the IMF, in Washington, promises to advance further in this direction.
“Taxation is at the heart of the global macroeconomic issue,” says Brasil’s Minister of Finance
According to Fernando Haddad, taxing the super-rich is one of the ways to ensure sustainable development, but it requires international efforts. Brazilian proposals were welcomed during a panel hosted at the International Monetary Fund (IMF) headquarters in Washington.
A stronger and more responsive financial system: UN expresses support for Brazilian positions at G20
During a meeting in the US, the United Nations, countries and global civil society organizations agreed on the need to build a stronger and more responsive global financial system to deal with growing climate and development challenges. They endorsed proposals to strengthen multilateral development banks.
Global governance reform is crucial to facing current challenges
Brazil’s Sherpa Mauricio Lyrio argues that a reform of the UN might strengthen the institution—the basis on which global peace could be built
"There are no winners in the current globalization crisis," says Haddad
At the opening of the 1st Meeting of Finance Ministers and Presidents of Central Banks of G20 Brasil, the Brazilian Finance Minister defended inclusive and sustainable globalization. "The Brazilian presidency has taken on the challenge of making an inclusive G20, in which we have the chance to make progress on various issues that are dear to us, such as combating poverty and inequality, financing sustainable development, reforming global governance, fair taxation and the problem of chronic indebtedness in various countries," says Haddad in a statement.
Brazilian minister announces Global Alliance Against Hunger and Poverty to Latin American leaders at FAO event
During virtual meeting, Wellington Dias highlighted the principles that guide the Task Force proposed by Brazil to achieve UN Sustainable Development Goals 1 and 2.
Climate change represents a risk for economies around the world
The effects of climate change are perceived as an additional risk element for the economy. Central banks understand that the financial system can act as an instrument to reduce this risk.
"By 2030, we will announce to the world: zero deforestation in Brasil," states President Lula
The President of Brasil has launched measures to invest in sustainable development, combat deforestation and forest fires in the Amazon and encourage the use of renewable energies in the country. The project will work in 70 Brazilian municipalities that were responsible for 78% of deforestation in the Amazon in 2022. The actions are in line with the priorities of Brasil's G20 presidency.
Minister Haddad announces the creation of a G20 Roadmap for multilateral bank reforms
"Development banks need to intensify their efforts and work together effectively and at scale,” said Finance Minister of Brasil, Fernando Haddad, during a ministerial meeting of the Finance Track, held in Washington, USA. Brasil will develop an evidence-based G20 Roadmap for multilateral bank reforms to make multilateral development banks better, bigger and more effective. At the center of the effort is the guarantee that the banks' support will continue to be geared towards national development priorities, providing concrete benefits to the countries favored by their investments.
Haddad: "World's Super-Rich Need to Contribute More Fairly and Proportionally"
Finance Minister led the call for more equitable taxation of the super-rich globally during the second day of the G20 meetings. Haddad stressed the need for joint action to correct tax disparities, calling on member countries and international organizations to join forces for a fairer and more sustainable tax system.
Haddad: "Brasil's tax system will be among the ten best in the world"
At an event at the US Chamber of Commerce, Brasil's Finance Minister, in Washington for the G20 ministerial meeting, said that tax reform will facilitate business development. The Inter-American Development Bank (IDB) president, Ilan Goldfajn, also attended the meeting. He presented a diagnosis of Latin America and said: "There are opportunities in areas such as ecological transition".
“In addition to being deemed unacceptable, hunger is an urgent economic issue,” highlights Fernando Haddad
Officials gathered in Washington to share insights and explore collective strategies for addressing the dual challenges of hunger and poverty. The Finance Minister believes that prioritizing hunger within economic policies is critical.
"Merely lending money is not sufficient. It is imperative to assess the impact of projects on people’s lives," emphasizes the President of the Inter-American Development Bank (IDB)
In an exclusive interview with the G20 Brasil website, Ilan Goldfajn, the President of the Inter-American Development Bank (IDB), elucidated the specific measures undertaken by the institution to execute the reform of governance within development banks, a priority of the Brazilian presidency in the G20. Goldfajn emphasized the crucial task of accurately assessing the tangible impacts of loans on individuals' lives, and stressed the imperative of addressing climate change. He further articulated that "the mandate we aim to pursue within the IDB and the MDBs¹, in alignment with Brasil's presidency of the G20, is one characterized by consensus-building, bridging divides, and seeking common ground to facilitate progress."
Data is essential to debate women’s participation in foreign trade
According to the International Trade Center (ITC) women own only around 20% of exporting companies globally. For this reason, the G20 members have emphasized in recent years the need to accelerate progress towards inclusive international trade, involving initiatives to promote greater female participation. One of the challenges is the lack of data.
'Green funds' are Brasil's target at the G20. Find out why
The Sustainable Finance Working Group has drawn up a proposal to make access to the world's four largest multilateral climate funds, the so-called 'green funds,' less bureaucratic, so that countries from the Global South can access funding for projects to combat the impacts of climate change.
In Washington, G20 finance ministers will discuss taxing the super-rich and fighting hunger and poverty
The meeting at the International Monetary Fund (IMF) on April 17 and 18 will be the stage for seeking concrete measures to tax the super-rich, finance climate change and fight inequality. The meeting brings together Finance ministers and Central Bank presidents from the world's largest economies in search of an international financial architecture for the 21st century.
Defense of democracy and global reforms were the main topics of the meeting between Brasil and Spain
In a two-day official visit to Brasil, the President of the Government of Spain presented an agenda with several topics of convergence with the proposals of Brasil’s G20 Presidency. President Lula invited Spain to join the Global Alliance Against Hunger and Poverty.