Roundtable Discussion on Expectations from G20 Brazil Summit

On October 28, 2024, Vivekananda International Foundation (VIF) hosted a roundtable discussion on ‘Expectations from G20 Brazil Summit’. The roundtable discussion was set forth to understand and evaluate the Brazilian presidency of Group of 20 (G-20) and the ongoings issues before the forthcoming G20 Summit at Rio de Janeiro. The roundtable was conducted in a hybrid mode attended by eminent diplomats, esteemed experts, and scholars.

Key discussion points:

Transition and Continuity from India’s Presidency

The Brazilian presidency was preceded by Indian presidency, whereby the theme of "Vasudev Kutumbakam" (world as one family) was a unique contribution. In recent years the countries of Global South have a unique opportunity to address their perspective through the G20 presidency of Indonesia (2022), followed by India (2023), Brazil (2024), and South Africa (2025). Brazil’s G20 presidency follows India’s, which set high standards with extensive outreach, cultural inclusivity, and significant international participation. Brazil carries forward the themes established during India’s presidency, such as a focus on the Global South, sustainable development, and inclusive growth. Brazil continues to emphasize the slogan “One Earth, One Family, One Future,” aligning with the shared vision of equitable global progress.

Primary Themes and Objectives for Brazil’s G-20 Presidency

The main focus of Brazil in its G-20 presidency has been towards sustainable development. The themes were designed considering that development, as a key issue, is entrenched into the regular business of G-20, so that the focus on development continues even after the presidencies shift to developed countries. Brazil identified three key priorities during its G-20 presidency;

• Social Inclusion and Poverty Alleviation: Brazil identifies social inclusion and the fight against hunger and poverty as top priorities. The flagship initiative to be launched at the upcoming summit is “Global Alliance Against Hunger and Poverty.” The initiative is structured around three pillars: national (within-country action), knowledge (sharing best practices), and finance (securing funding). Open to all countries and organizations, the alliance seeks to eradicate hunger and poverty by 2030, aligning with Sustainable Development Goals (SDGs) 1 and 2. While some criticize this as a return to a poverty-focused approach, but this initiative acknowledges that hunger and poverty are still pressing issues for billions worldwide.
• Energy transition and inclusive & sustainable development: Considering that pandemic and geopolitical tensions have exacerbated economic inequality, Brazil seeks to address the rising inequalities and encourage growth. Brazil’s approach integrates economic, social, and environmental dimensions of sustainable development. The focus includes climate-friendly energy transitions and the adoption of practices like bioeconomy principles, targeting sectors like agriculture and small and medium enterprises (SMEs). In the quest of energy transition, it is important to find a right balance between “just transitions” and development, so that countries are not left to choose between development and green development. Brazil, as the upcoming COP30 chair, emphasizes ecological concerns. The “Climate Investment and Ecological Transformation Platform” prioritizes Amazon preservation and will address climate actions to triple renewable energy capacity and double energy efficiency by 2030.
• Global Governance Reform:There is an imperative need towards reforms in global governance, covering three sectors of reforms; reform in UN and the subsidiary bodies; reforms in international financial architecture; and reforms in the multilateral trading system. Brazil plans to advance discussions on reforming global governance institutions and multilateral development banks (MDBs), such as the United Nations, WTO, IMF, World Bank, etc. to better reflect the interests of developing nations. Brazil’s presidency is expected to support UN Security Council reform with broader representation from Africa, Asia, and Latin America.

Technology and Digital Infrastructure Initiatives

There is a significant focus around advancing technology initiatives, particularly in artificial intelligence (AI) and digital public infrastructure (DPI). Developing countries, represented by nations like India, Brazil, and South Africa, advocated for an inclusive approach to AI governance to ensure equitable rule-setting on this emerging frontier. With discussions continuing on DPI and AI, the G20 leaders are committed to balancing innovation with regulatory safeguards to harness technology's full benefits responsibly.

Dynamics of Geopolitics and Domestic Politics

For Brazil during G-20 it was difficult to obtain consensual ministerial declarations, considering the geopolitical environment. With the break-out of Russia-Ukraine war both Indonesia and India did not manage to get consensual ministerial declarations. With the Israel-Palestine conflict the geopolitical scenarios were bound to get trickier. However, Brazil has managed to get consensual ministerial declaration in all the working groups apart from the ‘Empowerment of Women Working Group’, because of Argentinean resistance.

Expanded Role for Civil Society and International Organisations

During its G20 presidency Brazil has increased civil society engagement, reflecting its domestic tradition of openness. Brazil will be hosting a ‘Social Summit’, that is scheduled for November 14-16 just before the Leaders’ Summit, where civil society, think tanks, and NGOs can discuss key issues like inequality, exclusion, and hunger. This summit will consolidate input from 13 engagement groups, including Judiciary 20 and Oceans 20, to contribute to the Leaders’ Declaration.

Financial Architecture, Debt Relief, and MDB Reform

Brazil’s G20 presidency has focused on sustainable finance, debt-for-investment swap models, and improving Multilateral Development Banks (MDB) frameworks to support countries in financial need. The Sustainable Finance Working Group (SFWG) is evaluating reforms in MDBs and comparing interest rates and access disparities to benefit developing nations.

• Debt Restructuring and Debt-for-Investment Models: A key focus for Brazil is debt relief, especially for countries where debt servicing costs exceed essential social investments like health and education. The proposed debt-for-investment swap model, a debt restructuring approach where countries can reduce debt in exchange for investments in infrastructure or sustainable development, is intended to alleviate fiscal pressures in developing economies. This proposal aligns with the Global South’s needs and is gaining traction among African nations and other debt-heavy regions.
• MDB Reforms: Brazil’s presidency has continued momentum on MDB reforms, promoting a more inclusive and accessible international financial architecture. The summit has reignited discussions on reforming the international financial system and introducing inclusive, transparent WTO regulations that support global economic recovery. Brazil’s emphasis on reform of multilateral development banks (MDBs) aims to improve accessibility and efficiency in financing. This includes a roadmap to make MDBs bigger, better, and more effective in addressing climate and development finance gaps, estimated between USD two and a half to USD four trillion annually.
• Climate Finance: Brazil is pushing for equal access to funds such as the Green Climate Fund (GCF), Climate Investment Fund (CIF), and other vertical funds. Through the Sustainable Finance Working Group (SFWG), Brazil is championing blended finance models, combining public and private investments for sustainable projects. This approach is aimed at closing gaps in sustainable financing and offering alternative solutions for the global South, but it also raises concerns about adequate funding commitments from developed countries.

Addressing the Climate Crisis and Promoting Green Transitions

Brazil’s COP30 leadership positions it to champion climate action and biodiversity conservation, especially in the Amazon region. The emphasis on a just energy transition or “Just Transition” highlights Brazil’s commitment to sustainable economic development without compromising environmental or social goals. Brazil’s climate policy includes supporting energy transitions that balance economic feasibility with environmental responsibility, advocating for measures that prioritize renewables but also acknowledge the transitional role of gas for certain economies. Brazil is advocating for private sector participation in climate finance, emphasizing the need for sustainable and predictable funding mechanisms to support green transitions.

African Union and Developing Nations’ Representation

The African Union’s membership marks a historic milestone, shifting the G20’s focus further toward Africa’s priorities, including debt relief and sustainable development financing. Brazil’s leadership has facilitated active African Union participation, ensuring that African issues are integrated into G20 discussions, aligning with the goals of South Africa’s upcoming G20 presidency. The African Union’s inclusion, alongside the expanded representation from South American and Asian nations, underscores the G20’s ongoing transformation toward a more inclusive forum for development issues.

Expanded Ministerial Working Groups and New Engagement Initiatives

Brazil in its G-20 presidency has added two new working groups: Research and Innovation, and Empowerment of Women. The Research and Innovation group, elevated from India’s roundtable format, emphasizes technology’s role in sustainable development, while the Empowerment of Women group continued the momentum from previous presidency. Engagement groups now total 13, with additional focus areas like Judiciary 20, a gathering of Chief Justices, and Oceans 20 dedicated to ocean sustainability. Meetings among engagement groups will culminate in a social summit to guide discussions during the Leaders’ Summit.