Several finance ministers from the world’s largest economies were absent from the Group of 20 (G20) meeting in South Africa on Wednesday, highlighting deep divisions over key global issues such as climate finance, debt, and economic inequality.
The two-day gathering in Cape Town, meant to unite finance ministers and central bankers, saw no representation from major economies like the United States, China, Japan, India, and Canada. The European Union’s top economic official also opted out, further dampening the chances of reaching a consensus on a final communique.
Negotiating a joint declaration has always been difficult within the G20, which includes nations with competing interests such as China, Russia, the EU, and the U.S. However, tensions appear higher than ever, with some ministers skipping the summit due to pressing domestic political matters.
South African President Cyril Ramaphosa stressed the need for unity, warning that the erosion of multilateral cooperation threatens global growth and stability.
“At this time of global uncertainty and escalating tension, it is now more important than ever that the members of the G20 work together,” he said in his opening remarks.
Despite the notable absences, South African central bank governor Lesetja Kganyago downplayed concerns, noting that previous G20 meetings had ended without a joint statement.
South Africa had aimed to use the G20 platform to push wealthier nations to do more in tackling climate change, particularly in providing financial support for developing countries transitioning to green energy.
“Those most responsible for climate change have a duty … to support those least responsible,” Ramaphosa stated last week.
However, South African Energy Minister Kgosientsho Ramokgopa suggested that recent U.S. policy shifts have altered the conversation on green energy, potentially leading some nations to reconsider their timelines for moving away from fossil fuels.
The absence of the U.S. from both the finance ministers’ meeting and a recent G20 foreign ministers’ summit has sparked concerns about the group’s effectiveness.
Political analyst Alex van den Heever warned that without U.S. participation, progress on critical global issues would be difficult. Others, however, saw an opportunity for alternative leadership.
“There could very well be synergies between large portions of what’s left by excluding the U.S. on particular issues,” said Daniel Silke, director of the Political Futures Consultancy.
For South Africa, this could be a moment to assert itself as a leader on the global stage, even as uncertainty looms over the future of the G20’s influence.
