During the opening of the joint meeting of the G20 Sherpas and Financial Group, Brazilian President Luiz Inacio Lula da Silva said a new approach to globalisation is needed to fight inequality. This is reported by
Brasil 247, a partner of TV BRICS.

The meeting focused on tackling inequality and sustainable development, priorities of the Brazilian presidency of the summit. Lula stressed the importance of decarbonising the global economy and the digital revolution as a means to achieve social wellbeing, economic prosperity and environmental sustainability for all.

In his speech, the president reiterated the priorities of Brazil’s presidency of the bloc, including social inclusion, fighting hunger and poverty, and promoting sustainable development. Lula criticised the coexistence of significant wealth in the world with hunger and poverty, citing alarming data on the global situation. He also mentioned the important role of the G20 in the discussions at COP-30, to be held in Belem do Para in 2025, emphasising the need for a strong contribution and implementation of national plans for environmental transformation.

In addition, the President addressed the reform of global governance systems, proposing a serious debate on the anachronism of current institutions. He stressed the need to improve climate finance mechanisms and criticised the bureaucratic obstacles that prevent developing countries from accessing significant environmental funds. Lula advocated for multilateral development banks to be more effective by promptly offering more resources for meaningful initiatives.

Brazil’s first cycle of G20 meetings takes place from 11-15 December at the Itamaraty Palace in Brasilia. Representatives from 19 African and EU countries, as well as deputy finance ministers and vice presidents of G20 central banks, will be in attendance. After this initial cycle, the next G20 meetings are scheduled for the second week of January via videoconference, which will begin preparations for the G20 Summit to be held in November 2024 in Rio de Janeiro.

Photo:
IStock