G20 Leaders Will Talk About Climate, Taxes, and Trump's Return in Brazil

As G20 leaders convene in Brazil this week to discuss important global issues like poverty, climate finance, and multilateral collaboration, the prospect of Donald Trump's possible return to the White House casts a cloud over the talks. The historic G20 summit in Brazil, hosted in the famous Museum of Modern Art in Rio de Janeiro, is a landmark in international diplomacy as US President Joe Biden attends his last G20 summit before leaving office.

Other powerful leaders, especially Chinese President Xi Jinping, who has positioned himself as a worldwide champion of free trade in opposition to Trump's "America First" policies, are likely to overshadow Biden's diplomatic legacy during the meeting. In the meantime, the summit's host, Brazil's left-wing President Luiz Inácio Lula da Silva, will make use of the opportunity to draw attention to issues impacting the Global South, such as poverty and climate change.

Security Measures Are Tighter After the Latest Attack

Ahead of the G20 summit, security in Brazil is tight, following days after a suspected far-right fanatic killed himself in a botched bombing attempt on the Supreme Court in Brasília. Despite the difficult atmosphere, world leaders are pursuing their agenda and concentrating on finding answers to urgent global problems.

Biden's diplomatic farewell tour, which includes a stop in Lima for a meeting with Asia-Pacific trading partners and a historic visit to the Amazon, making him the first sitting US president to visit the region, concludes with this conference. Even if Trump 2.0 is elected president in 2025, Biden has stated his confidence that his climate initiatives will continue as he seeks to leave a lasting legacy.

Taxation and Climate: Important Topics at the G20 Summit

The global response to climate change will be a crucial topic of discussion during the G20 summit in Brazil. As the COP29 climate conference in Azerbaijan struggles to advance on the crucial topic of climate funding for developing countries, the meeting takes place. To achieve a significant agreement, UN Secretary-General António Guterres has urged G20 leaders, who bear 80% of the world's emissions, to demonstrate leadership and make concessions.

Brazil, which has experienced severe weather events, including the worst wildfire season in more than ten years due to climate change, is hopeful the summit will offer tangible steps to finance climate projects. Fast-developing nations like China, meanwhile, have resisted calls from more affluent countries to shoulder more of the financial burden of climate action.

Leaders at the most recent G20 conference agreed to triple the amount of renewable energy by 2030, but they did not specifically promise to phase out fossil fuels. The opportunity to advocate for more aggressive climate targets may present itself at this summit, which is being held in Brazil.

Pay Attention to Billionaire Taxes and Ending World Hunger

A "Global Alliance against Hunger and Poverty" will be established by Brazil’s President Lula during the summit, emphasising the millions of people who go to bed hungry every night. A fundamental tenet of his presidency is the initiative, which aims to alleviate the worldwide inequality made worse by the pandemic and ongoing economic woes. Lula strongly declared to the G20 leaders, saying, "Today there isn't any, but tomorrow there will be." Lula addressed the 733 million starving people worldwide.

Along with combating poverty, Brazil is pushing for higher billionaire taxes, a contentious issue that has drawn opposition from several G20 countries, such as Argentina. In spite of this, a Brazilian diplomatic source stated that all G20 members had approved a draft final statement, which will be transmitted to their respective leaders for consent.

The Impact of Trump and the Shadow of "Trump 2.0"

Even though Donald Trump did not attend the G20 summit directly, his political influence is felt strongly. As he prepares to return to the White House in 2025 (called Trump 2.0), many world leaders are already thinking about how his administration would affect international cooperation on trade, multilateralism, and climate change. If Trump 2.0 reasserts the America First agenda, a significant portion of the discussion at this summit will focus on whether the world can continue to progress in areas like climate finance.

Vladimir Putin of Russia was invited to the summit but chose not to go, claiming that his presence would interfere with the proceedings. The absence of Putin and Trump's continued sway over world politics underscores the changing dynamics within the G20.

An Important Turning Point for the G20 in Brazil

The G20 summit in Brazil offers world leaders a significant chance to reach a consensus on vital issues like poverty, global tax reform, and climate change. Given the end of Biden's presidency and the possibility of Trump 2.0, the summit is a critical event in determining how international cooperation will develop going forward. Efforts to address the climate catastrophe and global economic policy would indeed be impacted in the long run by the talks in Rio.

Everyone will be watching to see how world leaders can work together to resolve the problematic issues facing the globe today as they get ready to depart Brazil and return to their home nations.