G20
The G20, or Group of Twenty, is an intergovernmental forum of the world’s major developed and developing economies. It comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, USA), the African Union and the European Union (EU). Collectively, the G20 accounts for more than 85% of global GDP, 75% of international trade and two-thirds of the world population, making it the premier forum for international economic cooperation.
Starting in 1999 as a meeting for the finance minister and central bank governors, the G20 has evolved into a yearly summit involving the Head of State and Government.
The G20 currently comprises:
(i) Finance Track, with 8 workstreams (Global Macroeconomic Policies, Infrastructure Financing, International Financial Architecture, Sustainable Finance, Financial Inclusion, Health Finance, International Taxation, Financial Sector Reforms)
(ii) Sherpa Track, with 12 workstreams (Anti-corruption, Agriculture, Culture, Development, Digital Economy, Employment, Environment and Climate, Education, Energy Transition, Health, Trade and Investment, Tourism)
(iii) 10 Engagement Groups of private sector/civil society/independent bodies (Business 20, Civil 20, Labour 20, Parliament 20, Science 20, Supreme Audit Institutions 20, Think 20, Urban 20, Women 20 and Youth 20).
In addition to G20 Members, there has been a tradition of the G20 Presidency inviting some Guest countries and International Organizations (IOs) to its G20 meetings and Summit.
In addition to the summit, there are Ministerial meetings, working groups, and special events organized throughout the year.
G20 Presidency
G20 has a rotating presidency arrangement, starting from 1st December of the year to 30th November of the following year.
On 1 December 2023, Brazil assumed the presidency of G20.
Under the Brazilian presidency, work of the G20 on climate focuses on three pillars of sustainable development – social, economic and environmental. The strategic agenda of the presidency addresses:
- Preventive and emergency adaptation to extreme weather events to boost global efforts towards reducing risks and strengthening members’ resilience through developing guidelines for assessing vulnerabilities and preventing and responding to the impacts of extreme weather events;
- Payments for ecosystem services as an efficient tool for leveraging resources for the conservation and sustainable use of natural resources;
- Oceans as a key element in combatting climate change by promoting their health and sustainability for the planet and the world’s population, and
- Waste and the circular economy as polluted air, water and soil have historically been at the root of environmental concerns.
Previously, G20 presidency was held by:
In the future, G20 presidency will be held by:
- South Africa, 1 December 2024 – 30 November 2025
- USA, 1 December 2025 – 30 November 2026
