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The Latest Breaking News from G20

Foreign aid for fossil fuel projects quadrupled in a single year

With clean air projects receiving just 1% of aid, activists say nations ‘cannot continue polluting practices at expense of climate stability’

The Guardian - UK

G20 environment ministers back funding for forest conservation

Environment ministers of the Group of 20 nations agreed Thursday to support the creation of funding sources for ecosystem services, acknowledging Brazil’s proposal to establish a trust fund for forest conservation

The Independent UK

Waiving the Filibuster to Pass a National Abortion Bill Is a Bad Idea

Democrats will live to regret doing this if they have the votes to do it.

Reason

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Easing Africa’s debt burdens: a fresh approach, based on an old idea

The statistics are stark: 54 governments, of which 25 are African, are spending at least 10% of their revenues on servicing their debts; 48 countries, home to 3.3 billion people, are spending more on debt service than on health or education.

The Conversation

How consumer behavior is driving the B2B payments industry

With instant access permeating consumer life, people now expect the same from B2B payment technologies.

TechRadar

G20 countries turning backs on fossil fuel pledge, say campaigners

Promise to ‘transition away from fossil fuels’ made at Cop28 climate talks has been left out of draft resolutions

The Guardian - UK

Not a wobbly walk but fine balance: India’s Ukraine stance has always been clear

The latest phone conversation between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi comes close on the heels of the PM’s visit to Ukraine three days ago, his visit to Russia last month, and a day after his phone call with US President Joe Biden. It also comes…

Newslaundry

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It’s August 2024 – and our world is at a turning point. Here’s what we should do now

I see looming political and environmental threats – and too few willing to address them. Where is the urgency, asks former UK prime minister Gordon Brown

The Guardian - UK

No more fiscal favours? Calls to tax super-rich gain traction around world

Even rightwing governments are joining in with G20-led push to make wealthy pay, with Italy doubling flat tax on foreign income

The Guardian - UK

Brazil led the way. Now the UK should get behind the assault on hunger and poverty

At its recent summit, Lula gave the G20 a chance to show its commitment to real change – and Britain can take the lead, says Kevin Watkins

The Guardian - UK

Who is brave enough to back Brazil’s global tax on billionaires? The answer will define our future

It would raise $250bn to help offset some of the damage the super-rich cause. Yet they’ll do everything to stop it in its tracks, says Guardian columnist George Monbiot

The Guardian - UK

G20 finance ministers agree to work toward effectively taxing the super-rich

Finance ministers from leading rich and developing nations have agreed to strive toward effectively taxing the super-rich

The Independent UK

G20 Seeks Common Ground On Taxing Super-rich

G20 finance ministers are expected to take a first step towards international cooperation on taxing the super-rich Friday, with a deal in Brazil likely to call for individual nations to strengthen their own measures, rather than delivering a set of unified regulations.

International Business Times

World's richest one percent made over $40 trillion in a decade, says Oxfam

The world's richest one percent increased their fortunes by a total of $42 trillion over the past decade, British NGO Oxfam announced ahead of a G20 summit in Brazil where taxing the super-rich is top of the agenda.

Radio France Internationale

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The Independent UK

Rachel Reeves set to unveil £20bn black hole in public finances

Fears that the chancellor may need to consider further tax rises as she is set to reveal bad news on public finances

International Business Times

US Sees No Need For Global Deal To Tax Super-rich: Yellen

The United States sees no need to negotiate an international agreement on taxing the super-wealthy, Treasury Secretary Janet Yellen said Thursday on the sideline of a G20 finance ministers' meeting.

International Business Times

In Rio, G20 Finance Ministers To Mull Taxing The Super-rich

Faced with growing global inequality, G20 finance ministers meeting Thursday in Rio de Janeiro will tackle the thorny issue of taxes for the super-rich, a topic that has divided member states.

International Business Times

World's Richest 1% Gained $40 Tn In A Decade: Oxfam

The world's richest one percent increased their fortunes by a total of $42 trillion over the past decade, Oxfam said Thursday, ahead of a G20 summit in Brazil where taxing the super-rich tops the agenda.

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International Business Times

Lula Rallies G20 Countries Against World Hunger Ahead Of Meeting

Brazil's President Luiz Inacio Lula da Silva on Wednesday will launch a new initiative against world hunger ahead of an upcoming G20 meeting in Rio de Janeiro.

International Business Times

Yellen To Address G20 Finance Leaders On US Policy Commitments After Biden's Withdrawal From Presidential Race

U.S. Treasury Secretary Janet Yellen's presence at the G20 summit in Brazil aims to address subjects on green energy incentives, efforts to tackle debt distress, support for Ukraine and the capacity of China's manufacturing sector.

The Guardian - UK

Developing countries face worst debt crisis in history, study shows

Spending on health and education being cut as nearly half of budgets are used to pay creditors, campaigners say

France 24

Tax the super-rich, says new report commissioned by G20 chair Brazil

In a new report commissioned by Brazil for its G20 presidency, French economist Gabriel Zucman says an international scheme to impose a global minimum tax on the world's richest individuals is technically feasible and that a 2 percent wealth tax on 3,000 billionaires could generate more than $200 billion in…

Top News

Global Tax Proposal Targets Billionaires For Wealth Redistribution

Brazil's G20 proposal advocates for a 2% global tax on billionaires to address wealth inequality and fund essential public services.

The Guardian - UK

International scheme to tax billionaires’ wealth technically feasible, study finds

Proposal could net up to $250bn a year in extra revenue, says report commissioned by Brazil for G20

The Independent UK

The UN says global public debt hit a record $97 trillion in 2023. Developing countries are hard hit

The United Nations is reporting that global public debt rose to a record $97 trillion last year, with developing countries owing roughly one-third of that – crimping their ability to pay for basic government services like health care, education and climate action

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