The critical importance of financing for resilient infrastructure and early disaster risk warnings was the key theme of the first in-person meeting of the G20 Disaster Risk Reduction Working Group (DRRWG). The meeting took place in Rio de Janeiro, the host city for this year’s G20 summit. According to Agência Brasil, the group discussed the possibility of allocating a portion of the revenue generated from implementing a wealth tax to help mitigate disaster risk.
Financing for disaster risk reduction
The Brazilian Minister of Integration and Regional Development, Waldez Góes, who attended the group’s opening ceremony, stated that civil protection and defense actions necessitate resources, particularly for recovery and prevention efforts.
The minister declared that they advocate for taxing the great fortunes of the world’s wealthiest individuals and allocating a portion of those resources to this agenda.
Brazil’s vulnerability to natural disasters
Góes noted that over 10 million Brazilians reside in areas at high or very high risk of natural disasters. He also remarked that the world is confronting a difficult situation that necessitates a collective global response.
Brazil’s G20 presidency and priorities
Since December 1st of last year, Brazil has assumed the presidency of the G20 for the first time. During its presidency, Brazil has prioritized several key topics: global governance reform, the three dimensions of sustainable development (economic, social, and environmental), and the fight against hunger, poverty, and inequality.
The G20 is an international forum comprising 19 individual country members from five continents, as well as the European Union and the African Union. Moreover, the full member list includes South Africa, Germany, Saudi Arabia, Argentina, Australia, Brazil, Canada, China, South Korea, the United States, France, India, Indonesia, Italy, Japan, Mexico, the United Kingdom, Russia, and Türkiye.
Together, the G20 members represent about two-thirds of the world’s population, around 85 percent of global gross domestic product, and roughly 75 percent of international trade. As such, the policy decisions and initiatives undertaken by the G20 have significant global impact and influence.
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