India completed its term as the G20 presidency in September. Brazil has now assumed the role of the new president of the group and is currently leading it.
On September 26, 1999, A G20 group of 19 countries and the EU (European Union) was established. The reason they came together was to talk about important money matters that affect the whole world.
These countries in the G20 were really big and powerful, making up almost two-thirds of all the people on Earth, doing about 75% of the world’s trade, and producing around 85% of the money we use globally.
The Group of Twenty (G20) is the perfect backdrop for business cooperation on a global scale.
G20 Summit 2024
The G20 Leaders’ Summit is set to take place on November 18 and 19, 2024, in Rio de Janeiro, Brazil. This event will bring together the leaders of the 19 member countries, alongside the African Union and the European Union. Serving as the culmination of the host country’s rotating presidency, the summit provides a crucial platform for heads of state and government to endorse agreements negotiated throughout the year and chart paths for addressing global challenges.
G20 Presidency Rotation
The presidency of G20 rotates among the member nations. Brazil is the president of the G20 Summit 2023 & 2024. Brazil took the G20 presidency from India and the presidency will remain in Brazil until November 30, 2024.
G20 Summit 2024 Theme
Promoting social inclusion and combating hunger, facilitating the transition to sustainable energy and fostering development with a focus on social, economic, and environmental aspects, and advocating for the reform of global governance institutions are three of the main objectives of the G20 Summit 2024. “Building a Just World and a Sustainable Planet” is the motto of the G20 Summit 2024.
Member Countries List of G20
The G20 comprises 19 countries Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, USA, and the European Union (EU).
G20 Schedule 2024
Checkout the G20 2024 Schedule:
Date | Meeting | Venue |
---|---|---|
December 11and 12 | Sherpas | Brasilia |
December 13 | Sherpas: Finance Disputes and Central Bank Joint session | Brasilia |
December 13 | Anti-Corruption WG | Atlanta |
December 14 and 15 | Finance Disputes+Central Bank | Brasilia |
January 10 and 11 | Women’s Sustainability WG | VDC |
January 12 | Global Economy WG | VDC |
January 24 and 25 | Development WG | VDC |
January 25 and 26 | International Financial Architecture WG | VDC |
January 29 and 30 | Trade and Investment WG | VDC |
January 29 and 30 | Climate and Environmental Sustainability WG | VDC |
January 31 | Digital Economy WG | VDC |
February 1 | Finance Health TF | VDC |
February 1 and 2 | Infrastructure WG | VDC |
February 5 and 6 | Sustainable Finance WG | VDC |
February 5 and 6 | Education WG | VDC |
February 7 and 8 | Research and Innovation WG | VDC |
February 19 | Agriculture WG | VDC |
February 19 and 20 | Energy Transitions WG | VDC |
February 20 | Employment WG | VDC |
February 21 to 23 | Global Alliance against Hunger and Poverty TF | VDC |
February 21 and 22 | Ministers of Foreign Affairs | Rio de Janeiro |
February 22 | Health WG | VDC |
February 26 and 27 | Finance Disputies+Central Banks | São Paulo |
February 27 and 28 | Disaster Risk WG | VDC |
February 28 and 29 | Ministerial Finance+Central Banks | São Paulo |
February 28 and 29 | Tourism WG | VDC |
March 4 and 5 | Global Mobilization against Climate Change TF | VDC |
March 4 and 5 | Women’s Empowerment WG | Brasilia (DF) |
March 11 and 12 | Global Economy WG | Brasilia (DF) |
March 11 and 12 | Research and Innovation WG | Brasilia (DF) |
March 13 and 14 | Culture WG | VDC |
March 13 and 15 | Bioeconomy Initiative | VDC |
March 18 and 19 | Financial Inclusion – GPFI | Brasilia (DF) |
March 20 to 22 | Development WG | Brasilia (DF) |
March 24 to 26 | Global Alliance against Hunger and Poverty TF | Brasilia (DF) |
March 25 and 26 | Anti-Corruption WG | Brasilia (DF) |
March 27 and 28 | WG Economia Global | Brasilia (DF) |
March 27 and 29 | Employment WG | Brasilia (DF) |
April 1 and 2 | Sustainable Finance | Brazilia (DF) |
April 4 and 5 | Global Mobilization against Climate Change TF | Brazilia (DF) |
April 4 and 5 | Infrastructure WG | Brazilia (DF) |
April 8 to 11 | Health WG | Brazilia (DF) |
April 11 and 12 | Climate and Environmental Sustainability WG | Brazilia (DF) |
April 15 and 16 | Energy and Transitions WG | Brazilia (DF) |
April 16 and 17 | Finance Deputies+Central Banks | Washington (EUA) |
April 18 | Ministerial Finance+Central Banks | Washington (EUA) |
April 18 to 20 | Digital Economy WG | Brazilia (DF) |
April 22 and 23 | Culture WG | Brazilia (DF) |
April 24 and 25 | Trade and Investment WG | Brazilia (DF) |
April 29 and 30 | Agriculture WG | Brazilia (DF) |
May 2 and 3 | Tourism WG | Brazilia (DF) |
May 6 and 7 | Bioeconomy Initiative | Brazilia (DF) |
May 15 | Finance Health TF | VDC |
May 15 and 17 | Agricultural Chief Scientists (MACS) | Brazilia (DF) |
May 20-22 | Education WG | Brazilia (DF) |
May 20-24 | International Taxation WG | Brazilia (DF) |
May 22 and 24 | Research and Innovation WG | Recife (PE) |
May 22 to 24 | Global Alliance against Hunger and Poverty TF | Teresina (PI) |
May 27 to 29 | Energy Transition WG | Belo Horizonte (MG) |
May 27 to 29 | Development WG | Salvador (BA) |
May 28 and 29 | Disaster Risk WG | VDC |
May 29 to 31 | Employment WG | Genebra |
What is G20?
On September 26, 1999, A G20 group of 19 countries and the EU (European Union) was established. The reason they came together was to talk about important money matters that affect the whole world. These countries in the G20 were really big and powerful, making up almost two-thirds of all the people on Earth, doing about 75% of the world’s trade, and producing around 85% of the money we use globally.
The Group of Twenty (G20) is the perfect backdrop for business cooperation on a global scale. On all significant international economic issues, it plays a significant part in forming and strengthening global architecture and governance.
What is the Purpose of the G20?
The G20 initially focused largely on broad macroeconomic issues, but it has since expanded its agenda to, inter alia, include trade, sustainable development, health, agriculture, energy, the environment, climate change, and anti-corruption.
- To promote financial regulations that reduce risks and prevent future financial crises.
- To establish a new global financial architecture.
- Policy coordination among its members to achieve global economic stability and sustainable growth.
G20 History
Before the G20, there was a group called the G7 (Group of 7), which still exists. It is an informal group of 7 Western countries, namely the United States, Britain, Canada, France, Germany, Italy, and Japan. Also, representatives from the European Union attended.
Earlier, Russia used to be a member of the G7, but in 2014, Russia was suspended because it annexed Crimea from Ukraine.
So the inspiration for G20 is G7. However, the group of G7 only included developed countries or countries from the Western front. These countries only understood their economies and benefits. However, we live in a globalized world, and a problem that arises in one part of the world affects the rest of the world as well.
In 1997, South East Asia experienced a financial crisis that began in Thailand but spread throughout the Asian continent. Then, in 1999, the G20 came into existence as a forum for finance ministers and central bank governors to discuss global economic and financial issues.
How Does G20 Work?
The G20 Presidency steers the G20 agenda for one year and hosts the Summit. The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track. Finance Ministers and Central Bank Governors lead the Finance Track, while Sherpas lead the Sherpa Track.
Financial Track: The Financial Track is led by the Finance Ministers and Central Bank Governors of the member countries. The main focus of Financial Track is on points like:
- Financial regulatory reforms
- Tax information exchange
- Global economic growth
- Financial inclusion
- Fossil Fuel Subsidies
- Remittances across the world
- Green Finance
- Anti-terrorism Financing
Sherpa Track: Sherpa Track is coordinated by Sherpas of member countries, who are personal emissaries of the leaders. The Sherpa Track oversees inputs from 13 working groups and two initiatives. The Sherpa Track focuses on pointers like:
- Employment
- Agriculture and food security
- Anti-corruption measures
- Climate change
- Improvement in the healthcare sector
- United Nations’ sustainable development goals
G20 Summit 2024 FAQs
A. Brazil is the host of G20 2024.
A. “Building a Just World and a Sustainable Planet” is the motto of the G20 Summit 2024.
A. The G20 comprises 19 countries and a European Union.
A. The G20 headquarters is in Cancún, Mexico.
A. G20 is an economic group of 19 countries and EU and G7 is a political group with 7 members.