There are currently profound challenges affecting multilateral efforts to address global issues such as climate change, development, global health, and debt relief. One of the core factors leading to this is economic inequality. It has reached such unprecedented levels that the growing disparities between and within nations are eroding trust, fostering protectionism, fueling geopolitical instability, and weakening international institutions. Ultimately, this is limiting the effectiveness of global problem solving.

Economic inequality is a deeply systemic issue that requires systemic solutions. Therefore, this session will discuss some of these solutions, including progressive taxation, in particular of the ultrarich; effective social spending policies; the evolving influence of philanthropies; and the crucial role of good governance in ensuring these measures are successfully implemented. In this context, the efforts of the Brazilian President Luiz Inácio Lula da Silva’s to push for taxing the ultra-high-net-worth individuals within the G20, firmly taken forward by the current South African G20 presidency, as well as the establishment of the Global Alliance against Hunger and Poverty are noteworthy.