Diplomacy 101: Undiplomatically Speaking
Where Beliefs Clash and Stories Flash
G20 Rio: Climate Words, Currency Worries
At the G20 Summit in Rio, lofty declarations met the weight of structural divides. While Brazil secured language on climate finance, including a non-binding pledge to triple renewable energy investments by 2030, no consensus emerged on fossil fuel phaseouts. China and Saudi Arabia led resistance to hard deadlines, while the U.S. focused on market incentives rather than mandates.
The summit also featured sharp exchanges over currency policy. Brazil’s proposal for a development-focused clearing system sparked heated backstage discussion, interpreted by some as a soft launch for a BRICS-aligned transaction network. Western finance ministers remained skeptical, emphasizing risks to global stability and potential dollar displacement.
On the sidelines, the African Union was formally inducted as a permanent G20 member—an overdue recognition of its collective weight. Whether this translates into influence in actual policymaking, however, remains an open question.