Climate change and revitalizing the world economy will be high on the G20 “s agenda when the heads of state of the world’s most advanced nations meet Saturday, the first face-to-face reunion since the pandemic.
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The OECD says a 15 per cent minimum global tax rate for companies could increase world tax revenues by $150 billion a year.
The leaders of the world’s most advanced countries are expected to meet at the Rome G20 summit on Saturday to reach a consensus on the most pressing global issues, but a way to tackle climate climate change and vaccine egality is yet to be reached.
A safer bet on concrete progress at the G20 is taxation, as the group is expected to adopt the international minimum tax rate of 15% for multinationals now that almost 140 countries are on IMF-mediated terms.
“G20 commitment on the need to limit the rise in temperatures to 1.5 degrees”Mario Draghi
Summit host Mario Draghi, Italy’s prime minister, called for a “G20 commitment on the need to limit the rise in temperatures to 1.5 degrees” relative to pre-industrial levels, the most ambitious target in the 2015 Paris climate accord.
A lot at stake: UN Secretary General Antonio Guterres urged G-20 leaders on Friday to show “more ambition and more action” and overcome disharmony to move climate goals forward.
Brazilian President Jair Bolsonaro, meanwhile, has been adamant about getting his country to pay for the protection of its Amazon share.
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