G 20 Summit 2021:Basics Explained

The annual meeting of the G20—the leaders of the world’s 19 wealthiest nations plus the European Union– had summit meeting. This year the host was , ITALY.

      Leaders of the world’s 20 biggest economies endorsed  a global minimum tax aimed at stopping big business from hiding profits in tax havens, and also agreed to get more COVID vaccines to poorer nations.

       G20 leaders broadly backed calls to extend debt relief for impoverished countries and pledged to vaccinate 70% of the world’s population against COVID-19 by mid-2022.

Next summit will be held  in Indonesia in 2022, in India in 2023 and in Brazil in 2024.

G-20 nations agree to endeavour to restart international travel in a safe, and orderly manner.

G-20 nations, including India, commit to strengthen actions to halt and reverse biodiversity loss by 2030.

G-20 nations committed to achieving food security and adequate nutrition for all, leaving no one behind




Founded in 1999 to give developing countries a more powerful voice in the global economy, the summit brings together industrialised and emerging economies.

The group makes up 85 per cent of the world’s GDP and two-thirds of its population. When it was first started, only finance ministers and central bank governors met at G20 summits. But a meeting was held between heads of state after the Lehman Brothers crash in 2008, which led to a global recession. There has been a yearly meeting between G20 country leaders since.

G20 member countries include the US, UK, Germany, India, Australia, Japan, Russia, Argentina, Brazil, Canada, China, France, Indonesia, Italy, South Korea, Mexico, Saudi Arabia, South Africa and Turkey and EU.

Net zero means reducing greenhouse gas emissions as much as possible, until a country is absorbing the same amount of emissions from the atmosphere that it is putting out.


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