G20 and COP30: Debt crisis and climate targets under pressure in Johannesburg!

G20 and COP30: Debt crisis and climate targets under pressure in Johannesburg!

The 2025 G20 Summit in Johannesburg and the COP30 in Belém recently took place in a geopolitically tense environment. Both events were marked by deep divisions between major powers, which are skeptical of reform while oil states vehemently defend fossil fuels. In particular, during the G20 summit, which was the first to end on African soil in Johannesburg, coalitions were formed that addressed the pressing issues of debt, climate goals and inclusive development. South Africa, as host country, released a report recommending the need for a new debt restructuring initiative and a borrower club for African countries and urging a transparent debt resolution mechanism.

At the G20 summit, the challenges of national debt, particularly for many African countries, were recognized, but this did not result in any concrete measures to improve the debt relief framework in a final communiqué. This discrepancy between the urgency of the debt crisis and political actions caused criticism. Germanwatch criticizes that the summit did not send the hoped-for signals for global justice and that the urgent issues were not sufficiently addressed. Despite acknowledgment of growing inequalities, concrete commitments to tax the super-rich have been lacking, fueling calls for a fairer global financial order.

Climate goals and sustainable development

The COP30 summit in Belém, attended by over 90 countries, endorsed a fossil fuel phase-out roadmap, but many ambitious roadmaps were not mentioned in the results. Instead, the COP30 decision package focused on tripling adaptation financing by 2035 and recognizing the rights of indigenous peoples. However, it became clear that the financial resources for financing adaptation are inadequate. Critics demand additional resources that should be made available through debt relief and taxation based on the polluter pays principle.

Germanwatch highlights that without binding steps to combat global inequality, the necessary progress will be made more difficult. While Germany and a coalition of states want to pursue the roadmap to reduce fossil fuels, the failure to enable highly indebted states to quickly deleverage remains a major problem. The need to introduce effective measures to support these countries is more urgent than ever.

Outlook and necessary measures

The coalitions of the willing formed at both summits show that the voices of borrowers are shining. Nevertheless, translating findings into concrete actions remains one of the biggest challenges. Plurilaterality is increasing, with ambitious ideas often being developed outside the UNFCCC. Nevertheless, the UNFCCC Executive Secretary calls for an irreversible transition to a low greenhouse gas emissions world.

In summary, both the G20 Summit and the COP30 addressed important issues, but implementing their recommendations and creating a fair global financial order must remain on the agenda. There is growing pressure on countries to take solid steps to meet the challenges of the debt crisis and the climate crisis. The path forward requires both determination and cooperation at the international level.

For more details on debt, climate and geopolitics, read reports from Böll Foundation, Sunny side and Germanwatch.