'We need a new globalization that fights disparities' says Lula at G20 meeting

“Inequalities are at the root of the problems we face or contribute to making them worse. We need a new globalization that fights disparities ", said President Luiz Inácio Lula da Silva during the opening of the joint meeting of the Sherpas and Finance Tracks on Wednesday (13) in Brasilia.

We want to ensure that the profound transformations we are experiencing result in social well-being, economic prosperity and environmental sustainability for all. The global economy's decarbonization and the digital revolution are processes that will alter the planet"

Brazil's President Luiz Inácio Lula da Silva

Lula reinforced the priorities of Brazil's presidency of the bloc and its efforts to promote social inclusion, the fight against hunger and poverty, the promotion of sustainable development and the reform of global governance institutions. "It is unacceptable that a world capable of generating wealth in the order of 100 trillion dollars per year should have more than 735 million people go hungry and more than 8% of the population live in poverty," he said.

» Full speech by President Lula

» High-resolution images (Flickr)

» Follow the official site of the G20 Brazilian presidency

According to Lula, the G20 will be essential for the discussions at COP 30, which will be held in Belém do Pará in 2025, since the discussions make possible "audacious contributions and adequate means of implementation" for the promotion of national plans for ecological transformation, bioeconomy policies and the definition of basic principles on the sustainable use of natural resources.

 "We want to ensure that the profound transformations we are experiencing result in social well-being, economic prosperity and environmental sustainability for all. The global economy's decarbonization and the digital revolution are processes that will alter the planet," he added.

 Regarding the reform of global governance systems, another priority of Brazil's presidency of the G20, Lula proposed to "seriously tackle the debate on the anachronism of global governance institutions.

 Climate finance mechanisms need to be improved. The four largest environmental funds have a balance of more than ten billion dollars, but developing countries are unable to access them due to simply bureaucratic obstacles. Multilateral development banks must become bigger, better, and more effective, allocating more resources to initiatives that truly make a difference more quickly," he said.

JOINT MEETING - The first cycle of G20 Brazil meetings began on Monday (11) and runs until Friday (15), in Brasilia, at the Itamaraty Palace. This Wednesday's meeting (13), which included an opening speech by President Lula, intertwines the work of the Sherpas and Finance Tracks and includes representatives from 19 countries, the African and European Unions, as well as deputy finance ministers and vice-presidents of G20 central banks. After this first cycle of aligning the work for the summit, which will be held in November 2024 in Rio de Janeiro, the next G20 meetings are scheduled for the second week of January, via videoconference.