JOHANNESBURG – Leaders from the world’s top economies have endorsed a comprehensive declaration addressing critical mineral access, climate finance, and global inequality at the conclusion of the G20 summit in South Africa on Saturday.
The historic gathering marked the first time the G20 summit has been held on the African continent, though the event was notably boycotted by the United States.
President Cyril Ramaphosa’s presidency of the G20 operated under the theme “Solidarity, Equality, Sustainability,” with the grouping comprising 19 countries plus the European Union and African Union representing 85 per cent of global GDP.
Critical minerals take centre stage
The declaration emphasised protecting global critical mineral supply chains from disruption caused by geopolitical tensions, unilateral trade measures inconsistent with World Trade Organisation rules, pandemics, or natural disasters.
Leaders supported “increased exploration of critical minerals, particularly in developing countries,” advocating that these resources should drive development and value addition “rather than just raw material exports.”
The focus on critical minerals comes as many countries intensify efforts to secure access to these materials, which are abundant in Africa and essential for green energy transitions, electronics, solar panels, and electric vehicles. China’s dominance of critical mineral supply chains has emerged as a growing concern for industrialised democracies worldwide.
Call for global peace
The 30-page declaration addressed ongoing conflicts by calling for “just, comprehensive, and lasting peace” in Ukraine, Sudan, the Democratic Republic of Congo, and the “Occupied Palestinian Territory” based on UN Charter principles.
Leaders urged countries to “refrain from the threat or use of force against the territorial integrity and sovereignty or political independence of any state.”
Western leaders attending the summit also responded to a unilateral plan pushed by US President Donald Trump to end the war in Ukraine on terms favouring Russia.
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Tackling inequality and debt
South Africa prioritised addressing inequality during its G20 presidency, with President Ramaphosa commissioning an expert report on the issue and supporting calls to establish an international panel on wealth disparities.
The declaration underlined the “imperative” to address “disparities in wealth and development both within and between countries.”
Leaders called for reforms to international financial systems to help low-income countries manage debt burdens that hinder development and reduce investments in infrastructure, disaster resilience, healthcare, and education. They advocated for greater transparency from lenders, including private sector entities, and backed a review of the International Monetary Fund alongside work to establish global minimum taxes.
However, the declaration’s language on taxing the super-rich was less robust than the previous G20 declaration in Rio de Janeiro, where leaders agreed to ensure billionaires “are effectively taxed.”
Climate finance commitments
Coinciding with the conclusion of COP30 UN climate talks in Brazil, the declaration recognised the need to “rapidly and substantially” scale up climate finance “from billions to trillions globally from all sources.”
The text highlighted energy access inequalities, particularly in Africa, and called for increasing, de-risking, and diversifying investments for sustainable energy transitions.
Leaders committed to promoting early warning systems for communities at risk of climate-linked disasters, acknowledging that least developed countries are often most severely affected.
The declaration stopped short of mentioning a phase-out from fossil fuels.
The summit’s outcomes reflect South Africa’s strategic positioning of African development priorities within the global economic agenda, marking a significant milestone for continental representation in international economic governance.
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