The G20 Summit 2024 Concluded with adoption of Rio de Janeiro Declaration

Posted 20 Nov 2024

Updated 21 Nov 2024

2 min read

The G20 Rio de Janeiro Declaration aimed at addressing major global challenges and crises and promotes strong, sustainable, and inclusive growth.

The theme of G20 Summit 2024 was ‘Building a Just World and a Sustainable Planet'.

Key Highlights of Declaration

The Summit focused on 3 priorities:

Social inclusion & fight against hunger and poverty:
- Global Alliance against Hunger and Poverty: Launched to eradicate poverty and hunger. (Refer Box)
- Global Coalition for Local and Regional Production, Innovation and Equitable Access: Launched to promote access to vaccines, diagnostics, and other health technologies for neglected diseases and vulnerable persons.
Sustainable development, energy transitions & climate action:
- It welcomed the establishment of Task Force on a Global Mobilization against Climate Change
  - Established to identify & address structural barriers to foster private capital flows for climate action, particularly for developing countries.
Reform of Global Governance Institutions:
- Pledged to reform UN Security Council aligning with realities & demands of 21st century, which is more inclusive, effective, democratic, accountable etc.
- Endorsed G20 Roadmap towards Better, Bigger, and More Effective Multilateral Development Banks (MDBs).

Global Alliance against Hunger and Poverty

Aim: To accelerate global efforts to eradicate hunger and poverty.
Members: 148 (82 countries, African Union, EU etc.)
- India is a member.
Goal:
- Reaching 500 million people with cash transfer programs in low- and lower-middle-income countries by 2030.
- Expand high-quality school meals to an additional 150 million children in vulnerable countries.