Multilateralism can and must deliver

Multilateralism will have a significant impact in 2025. Rising inequality, climate change, and the funding gap for sustainable development are all urgent and interconnected issues that need to be resolved. They must be addressed boldly and effectively, not by retreating into isolation, taking unilateral actions, or disrupting them.

The 30th Conference of the Parties (COP30) to the UN Framework Convention on Climate Change (UNFCCC) in Belém (Brazil), as well as the G20 Summit in Johannesburg (South Africa), are three significant international gatherings that provide a unique opportunity to chart a path towards a more just, inclusive, and sustainable world. These meetings must produce real progress rather than just business as usual.

We must not waste a multilateral opportunity.

The need for dialogue and global cooperation has never been greater, despite the low trust in multilateral institutions. We must reaffirm that multilateralism remains the most effective tool for addressing shared problems and advancing common interests when it is ambitious and action-oriented.

Building on multilateralism’s successes, particularly the Paris Agreement and the 2030 Agenda, is necessary. A renewed commitment to inclusiveness, sustainable development, and shared prosperity must be demonstrated by the FfD4, COP30, and G20. Strong political will, the full support of all relevant stakeholders, a creative mindset, and the ability to comprehend the constraints and priorities of all economies will be necessary for this.

addressing inequality through a fresh financial system

Income inequality is growing, both globally and globally. Many developing nations struggle due to barriers to fair access to capital, limited fiscal resources, and unsustainable debt burdens. With rising interest rates, basic services like healthcare and education must compete.

This is a cost-benefit for everyone, not just a moral flaw. To give countries in the Global South more voice and representation, and to make access to resources fairer and more predictable, the global financial architecture needs to be changed.

We must work on identifying and addressing the causes of the high capital costs that most developing nations experience, as well as encourage innovative financing mechanisms. These three areas are the G20’s top priorities, according to the South African presidency.

Seville’s FfD4 will mark a pivotal moment in the development of stronger international financial cooperation, including through improved domestic resource mobilization, improved global wealth taxation, and more effective and impactful rechanneling of Special Drawing Rights.

just transitions to development that is climate-resilient

Due to a lack of resources and development constraints, climate transitions are still out of reach for many developing nations. This needs to alter. We must make sure that our climate finance commitments are translated into concrete action at the COP30 summit in Belém, which is held in the heart of the Amazon.

Whether we can bridge the gap between promises and actuality will determine COP30’s success. The Baku to Belém Roadmap and the new and ambitious Nationally Determined Contributions (NDCs) submitted by all parties in accordance with the UNFCCC will serve as important foundations for COP30, raising funding for climate action from all public and private sources to at least $1.3 trillion by 2025.

We need to leverage private sector investment to increase climate adaptation financing, and make sure multilateral development banks are more active in the process. In addition to these efforts, the FfD4 in Seville will make sure that development is not compromised by climate financing.

An all-inclusive strategy for addressing global threats

We must redouble our efforts to find common ground because the world is becoming more and more fragmented. Johannesburg, Belém, and Seville must be exemplars of multilateral cooperation, demonstrating how diverse nations can coexist and share goals.

We will work in Seville to mobilize both public and private funds for sustainable development, acknowledging the interdependence of climate change and financial stability. We will unite in Belem to defend the planet. The G20 will also reiterate the importance of inclusive economic growth in Johannesburg.

We urge everyone to rise up in the face of the unknown as we prepare for 2025. Because the stakes are too high for failure, multilateralism can and must deliver.

Source: Aljazeera