Washington, D.C. – A meeting of G20 Finance Ministers has failed to deliver a key signal of solidarity as ongoing economic turmoil led to difficult talks in Washington D.C. and slowed progress on critical reforms to tax the world’s super-rich.

In a disappointing outcome at the 2nd Finance and Central Bank Ministerial Meeting, no reference was made to earlier agreements focused on cooperative efforts to effectively tax the ultra-rich as momentum around the initiative appeared to stall. 

Fred Njehu, Global Political Lead, Greenpeace Africa, said: “Turbulent economic times like these demand a unified, multilateral response and G20 ministers have an historic obligation to help steer the global economy and environment towards safer waters. This starts with supporting South Africa’s focus on Solidarity, Equality and Sustainability to find real solutions.”

“G20 ministers must boldly stay the course for what is fair and just, acting in solidarity with each other in opposition to wrecking ball diplomacy to deliver equality and a sustainable future for all. That means international cooperation, not tariff wars or economic blackmail or corporate plunder.”

“Equality is not the accumulation of wealth and power in the hands of a few billionaires. G20 Finance Ministers have an incredible opportunity to achieve a breakthrough on wealth taxation. We need to stand up to the power of billionaires who are a threat to our safety, security and wellbeing.”

“The hoarding of wealth and power is eroding democracy, fueling inequality and driving the climate crisis and environmental destruction. We cannot afford to sit idly by and the G20 must show bold and collaborative leadership in times of global need.”

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- Albedin Simanth

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