The recent G20 meetings have reaffirmed the global commitment to accelerating progress towards the 2030 Agenda and its Sustainable Development Goals (SDGs). These developments underscore the vital role of the Global Accelerator in promoting jobs and social protection for a just transition.
On July 22-23, 2024, G20 Ministers responsible for Development, along with partner countries and international organizations, convened in Rio de Janeiro to address the urgent need to reduce inequalities within and among nations and to create opportunities for all. The resulting Ministerial Declaration saw a clear role for the Global Accelerator on Jobs and Social Protection for Just Transitions in this effort. The Declaration emphasized that “universal social protection, including adaptive social protection, is a critical tool for reducing inequalities, mitigating and managing risks, and increasing resilience.” The G20 Development Ministers also stressed “the importance of strengthening and expanding the coverage of national social protection systems and programs, and of increasing the adequacy and shock responsiveness of these programs across both the formal and informal economy, in response to emergent global challenges and shocks, including disasters and the adverse effects of climate change.”
The G20 also discussed the broader macroeconomic challenges impacting job creation and social protection. The Communiqué from the 3rd Finance Ministers and Central Bank Governors meeting on July 26 recognized the significant financing gaps in social spending and investment, stressing that the ongoing global challenges required more multilateral collaboration—both of which are central to the Global Accelerator. In this regard, the G20 Framework Working Group’s Note emphasized the importance of improving revenue mobilization to finance social protection and redistributive policies. This aligns closely with a report of the Social Protection Inter-Agency Cooperation Board (SPIAC-B) prepared for the G20 Task Force for the Establishment of a Global Alliance against Hunger and Poverty that calls, amongst others, for increased investment and international cooperation to expand and strengthen social protection systems.