The 19th G20 Summit was held in Rio de Janeiro, Brazil, from November 18 to 19, 2024, under the theme 'Building a Just World and a Sustainable Planet.'

Economist Jeffrey Sachs emphasized the urgent need for critical investments in low-income and lower-middle-income countries to enhance sustainable development.

He specifically called for increased funding directed towards human capital and infrastructure in these nations, advocating for better financial mechanisms and improved market access.

Sachs recommended that the G20 coordinate efforts to achieve Sustainable Development Goals, the Paris Climate Agreement, and the Kunming-Montreal Biodiversity Framework, highlighting the necessity for increased financing.

He criticized the current lack of cooperation between the US and developing nations, asserting that the G20 should act as a platform for fostering global economic collaboration.

Sachs also pointed out the continuity of development focus in the G20, linking it to previous summits, particularly in areas of social inclusion and sustainable energy transition.

Overall, Sachs' remarks underscored the critical need for a unified approach to sustainable development and economic cooperation among nations.

Sachs noted that a significant portion of the world is advocating for a system rooted in peace and prosperity, which counters Western hegemony, as evidenced by the expanding BRICS alliance.

He warned of the rising protectionism from the US and suggested that BRICS nations should enhance trade among themselves to mitigate this trend.

China's promotion of mutual respect and peaceful coexistence is viewed as a positive development for cooperation among the Global South.

Sachs praised China's success in poverty reduction, suggesting it could serve as a model for African nations aiming for similar economic growth strategies by 2063 through partnerships with China.

He highlighted that China's Belt and Road Initiative supports infrastructure investments, including green energy and digital connectivity, which benefits partner countries and contributes to global economic transformation.