G20 leaders in Rio addressed global conflicts, including Gaza and Ukraine, and called for greater cooperation on climate change, poverty, and tax reform. Brazil launched a global alliance against hunger, while China and the U.S. focused on supporting developing nations.

Leaders from the Group of 20 (G20) major economies gathered in Rio de Janeiro on Monday for a two-day summit, where they issued a joint statement highlighting the profound human toll of ongoing conflicts in Gaza and Ukraine. The leaders also emphasized the need for increased international cooperation on pressing issues such as climate change, poverty reduction, and tax policy.

The summit, held at Rio’s Modern Art Museum, was marked by discussions on the shifting global landscape, with leaders working to strengthen multilateral agreements in the face of U.S. President-elect Donald Trump’s upcoming return to office in January. As Trump has promised to implement sweeping policy changes, from tariffs to a potential negotiated resolution on the war in Ukraine, these developments were a key backdrop for the summit’s deliberations.

While the leaders acknowledged the ongoing conflicts, the joint statement succinctly addressed the escalating war in Ukraine, focusing on the "human suffering" caused by the conflict and its economic impact. The statement also expressed "deep concern" over the humanitarian crisis in Gaza, urging increased aid and civilian protection, along with calls for a comprehensive ceasefire in both Gaza and Lebanon.

Despite a recent Russian airstrike in Ukraine, European diplomats, who initially sought stronger language on the conflict, ultimately agreed to the final wording of the statement. Russian President Vladimir Putin did not attend the summit, sending Foreign Minister Sergey Lavrov in his place.

Intense negotiations over the weekend led to a consensus on climate change and financial commitments to developing nations. G20 leaders agreed on the urgent need to reach an agreement by the end of the United Nations COP29 climate summit in Azerbaijan on how much wealthy nations should contribute to poorer countries to combat climate change. However, the statement stopped short of providing specifics on how to resolve the climate finance issue at COP29.

As the host of this year’s G20 summit, Brazil focused on addressing extreme poverty and hunger, as well as advocating for fair tax policies targeting the world's wealthiest individuals. Brazilian President Luiz Inácio Lula da Silva opened the summit by launching a global alliance to combat hunger and poverty, with support from over 80 countries, multilateral banks, and major philanthropies. Lula, who was born into poverty, emphasized that hunger and poverty are not the result of scarcity but of political decisions. "In a world that produces almost six billion tons of food per year, this is unacceptable," he stated.

While Brazil’s agenda emphasized global poverty and taxation issues, there were concerns that these efforts could lose momentum once President Trump takes office. However, world leaders acknowledged that Brazil’s leadership had pushed the G20 to engage with topics that challenge the traditional dominance of Western powers. German Chancellor Olaf Scholz noted that the balance of global power is shifting, with major developing economies seeking a more influential role in global governance. "These countries want to have their say. And they will no longer accept that everything will continue to be the way it has been for decades," he said.

Chinese President Xi Jinping took the opportunity to announce several initiatives aimed at supporting developing economies, particularly those in the "Global South." These included proposals for increased scientific cooperation with Brazil and African nations, as well as lowering trade barriers for least developed countries. Xi’s active participation underscored China’s growing influence on the global stage.

Meanwhile, U.S. President Joe Biden, who is nearing the end of his term, participated in the summit while facing multiple international crises, including the ongoing conflicts in Ukraine and the Middle East. As the world watches for policy shifts under the incoming Trump administration, Xi has used the summit to highlight China’s economic rise, including the launch of major infrastructure projects like the new deep-water port in Peru, part of China’s Belt and Road initiative.

Though Brazil has so far opted not to join the Belt and Road initiative, there is optimism for further industrial partnerships, with Xi set to conclude his visit to Brazil with a state visit to Brasília on Wednesday.

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