The 19th G20 Summit has ended with Brazil’s President Lula Da Silva handing over the presidency to President of South Africa Cyril Ramaphosa yesterday. In his closing address, President Lula talked about various initiatives taken under Brazil’s presidency.

The initiatives are, launching of Global Alliance Against Hunger and Poverty and starting an unprecedented debate on taxing, bringing climate change on the agenda of Finance Ministries and Central Banks and approving the first multilateral document on the bioeconomy.

A Call to Action for reforms to make global governance more effective and representative and engaging in a dialogue with society through the G20 Social is also one of the initiatives.

The actions also include, establishing of Women’s Empowerment Working Group, proposing an eighteenth Sustainable Development Goal to promote racial equality, continuing commitment to tripling global renewable energy capacity by 2030, creating a coalition for Local Regional Production of Vaccines and Medicine.

During the summit, WHO investment rounds were held to meet collective response to new and persistent health challenges. Strategy to Promote Cooperation in Open Innovation against asymmetries in scientific and technological production and to establish a task force on the governance of artificial intelligence in the G20 were also decided.

President Lula Da Silva said, after the South African Presidency, all the G20 countries will have exercised the leadership of the group at least once.

Our Correspondent, covering the event reports that Brazil G-20 Summit completed the penultimate stage of a four-year sequence in which the G20 leadership fell to developing countries after Indonesia, India, Brazil and now South Africa.