This E3G-ONE-Global Citizen press briefing examines emerging themes from week one of the COP27 negotiations and the upcoming G20, including the global macroeconomy and reform of global financial architecture.
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- From Sharm to Bali. What are the key messages coming out of week 1 at COP27 at Sharm el-Sheikh? Are there any significant signs of progress? Have the G7 countries showed the leadership required to repair damaged trust with the Global South? Can the G20 Leaders’ Summit help to advance the agenda at COP27? If so, what are the key areas for that the G20 leaders need to push forward for COP27 to succeed?
- Global macroeconomy. The global economic outlook is dire. Does the G20 have the political will and economic firepower to put out the immediate fires – around supply chains, food supply, debt crises, etc. – and to deliver the longer term finance needed to address the systemic risks from climate and support development finance needs?
- Global financial architecture. The G20 Expert Panel on the MDBs’ Capital Adequacy Framework Review made a series of recommendations on how the MDBs can change their CAFs to unlock potentially hundreds of billions of dollars in additional development and climate finance – which is desperately needed at this time of multiple overlapping crises. And PM Mottley’s ‘Bridgetown Initiative’ – including sweeping reforms to the global financial architecture – is gaining increasing support at COP27. How have the G20 member states responded to the CAF report’s recommendations? Are the G20 doing enough to reform the MDBs and the global financial architecture to deliver the SDGs and climate safety?
👨💼 Alden Meyer, Senior Associate, E3G, on geopolitics and climate, including developments at COP and expectations for G20 around climate.
👩💼 Friederike Roder, VP Global Advocacy, Global Citizen, on financial system reform priorities (SDRs, Bridgetown, CAF) and what we expect from the G20.
🙎♂️ Sony Kapoor, Professor of Climate, Geoeconomics, and Finance, EUI, on macroeconomic challenges ahead, combatting the polycrisis, and priorities that world leaders are bringing to the G20.
👩⚖️ Moderated by Serah Makka, Executive Director, Engagement and Mobilisation, ONE.
Notes to Editors
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