G20 performance on infrastructure investment, 2008–2023
100
75
50
25
0
Compliance (%)
Conclusions (% words)
Commitments (%)
CONCLUSION G20 leaders at Rio should focus on three key areas. The first is sustainable and green infrastructure development. Against the backdrop of climate change, the G20 should prioritise investment in renewable energy infrastructure, such as solar, wind and hydro projects. Given Brazil’s particularly rich natural resources and existing expertise in hydro, it can offer leadership to pioneer the energy transition towards climate change mitigation and adaptation for sustainable development. The investment priority should also include valuing climate-friendly infrastructure, to promote climate resiliency. The second is financing. Brazil can lead discussions on innovative financing products, such as green or climate bonds, which can contribute to financing large infrastructure projects. By leveraging these financial instruments, the financing gap can be bridged by directing global capital into fundamental climate-resilient development initiatives. The third is digital infrastructure. To reform global governance institutions in this digital age, it is also vital to expand digital infrastructure, notably in developing countries. To promote this inclusive strategy, G20 members should invest in infrastructure to help bridge the digital divide. Important digital infrastructure includes 5G network infrastructure, broadband access and smart city technologies. With an emphasis on these investments, Brazil’s G20 can contribute to economic growth with social inclusion.
JULIA TOPS Julia Tops is a senior researcher with the G20 and G7 Research Groups. She has served as a lead analyst and compliance director for the G20 Research Group as well as co-chair of summit studies for the G7 Research Group. She holds a master’s in science in development studies at the London School of Economics and Political Science. Her research interest focuses on development, specifically that of infrastructure and infrastructure financing.
: www.g20.utoronto.ca
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globalgovernanceproject.org
2024 — G20 BRAZIL: THE RIO SUMMIT
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