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This report on "G20: Plans and Prospects" is compiled by the G8 Research Group largely from public sources as an aid to researchers and other stakeholders interested in the G20. It will be updated periodically as plans for the G20 evolve. Note that this document refers to the G8-related G20 institutions (as opposed to, for example, the G20 related to the World Trade Organization agricultural negotiations).

Introduction: G20

The Group of Twenty (G20) finance ministers and central bank governors were originally established in 1999 in the area of finance. Participants from both industrialized and developing countries gather to discuss key issues in the global economy. The first G20 gathering occurred in Berlin on December 15-16, 1999, and was hosted by Germany and Canada. The establishment of the G20 finance group has led to discussions of other "20" groups. Former Canadian prime minister Paul Martin advocated a "Leaders 20" (L20) forum. In March 2008, 20 ministers from the fields of environment and energy met in Japan to discuss the issues associated with global warming.

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What's New

2008 G20 Finance Ministers and Central Bank Governors Meeting, Salvador, Brazil, November 8-9, 2008

Brazil has proposed that the 2008 G20 finance meeting focus on Competition in Financial Markets, Clean Energy and Economic Development and Fiscal Elements of Growth and Development, according to the G20 website.¹ (March 20, 2008, Official G20 Website)

The following meetings are to be held in preparation for the 2008 G20 finance meetings in Brazil in 2008:

• Workshop on Competition and Policy in the Financial Sector, February 16-17, 2008, Bali Indonesia
• First Deputies Meeting, March 15-16, 2008, Brasilia, Brazil
• Workshop on Clean Energy and Global Markets, May 15-16, 2008, London, United Kingdom
• Workshop on Fiscal Space for Growth and Social Policy, June 19-20, 2008, Buenos Aires, Argentina
• Second Deputies Meeting, August 30-31, 2008, Rio de Janeiro, Brazil

²(March 20, 2008, Official G-20 Website)

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Recent Comments about the G20 Finance Ministers Forum

When asked about whether the G7 is also still relevant, McCormick said the cooperation in dealing with financial market turbulence demonstrates its relevance, but that the group needs to continue to evolve to make sure it stays that way. The G20 is also taking on greater significance, he said, noting that the debate over sovereign wealth funds requires a broader discussion than just the G7.³ (February 25, 2008, Dow Jones Capital Markets Report)

Jean-Claude Trichet, president of the European Central Bank, said he welcomed the growing role of emerging Asian economies in financial forums such as the G7, G20 and the International Monetary Fund. "This means that they also have more responsibilities in the global arena and that the rules of the game need to adapt to keep pace."⁴ (February 25, 2008, Reuters News)

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G20 Environment and Energy Ministers Meeting

The world's 20 biggest greenhouse gas emitters are to hold climate change talks in Japan in a bid to push forward slow-moving negotiations to draft the Kyoto Protocol's successor. Former British prime minister Tony Blair was slated to address the so-called "Group of 20" dialogue at an opening session in the Tokyo suburb of Makuhari. Blair launched the G20 dialogue (officially called "G8 Gleneagles Dialogue on Climate Change, Clean Energy and Sustainable Development") in 2005 when he hosted the G8 summit in Gleneagles. It is the fourth dialogue. "The biggest advantage of the G20 meeting is the opportunity for talks at a completely global level compared with those on Kyoto," said Japanese Trade Minister Akira Amari, who will co-chair the meeting. It is important to make developing countries "understand that there is an approach [to tackling climate change] that would not sacrifice their growth," Amari said. "The initial purpose of the G20 was to draw a post-Kyoto plan which involves both the United States and developing countries," a senior Japanese foreign ministry official said. "Now that the United States is back in the UN framework, the G20 will need to focus on specifics of how to build a post-Kyoto framework," he added. The meeting was to have three main topics: finding technologies for energy efficiency, financing ways for developing countries to adopt such technologies and coming up with a post-Kyoto framework. The findings are to be reported at the G8 summit in July.⁵ (March 12, 2008, Agence France Presse)

Environment and energy ministers of G20 countries and the EU will meet in the Makuhari district of Chiba, east of Tokyo, March 14 to 16 to discuss the problem of global warming, according to Japan's Environment Ministry and the Ministry of Economy, Trade and Industry. The ministers will exchange opinions about a new framework that will succeed the 1997 Kyoto Protocol on climate change that is set to expire in 2012. These G20 nations include the United States and China. Environment Minister Ichiro Kamoshita and Minister of Economy, Trade and Industry Akira Amari will jointly chair the meeting. They plan to insist on the need to have major greenhouse gas emitters like the United States, China and India join the post-Kyoto framework and stress the importance of cutting emissions by improving energy efficiency. Japan will report the outcome of this G20 meeting at the G8 summit in July.⁶ (February 28, 2008, Jiji Press English News Service)

At the G20 meeting, issues such as global warming and climate change will be discussed by environment and energy ministers of the world's 20 major greenhouse gas emitting nations as well as representatives from relevant international organizations, industries, NGOs and NPOs.⁷ (February 5, 2008, Ministry of the Environment: Government of Japan)

The Japanese government will host a meeting of the Gleneagles Dialogue in March 2008. "The Japanese Government has set out objectives in terms of progress towards a stabilization goal, and agreement on the need for improving energy efficiency and scaling up financing."⁸ (September 28, 2007, The Korea Herald)

From September 9-11, 2007, "the energy and environment ministers from the 20 major energy-consuming countries will meet in Berlin for the third 'Gleneagles Dialogue.' Following the meeting in Berlin, another conference is to be held in Japan in the spring of 2008. The results of the Gleneagles Dialogue will be reported at the 2008 G8 Summit under the Japanese presidency."⁹ (September 9, 2007, The Press and Information Office of the Federal Government of Germany)

A G20 conference on global warming and clean energy will be held in Tokyo.¹⁰ (May 10, 2007, Associated Press Newswires)

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G20 Finance and Central Bank Ministerials, 1999-2008

Members

The Managing Director of the International Monetary Fund and the President of the World Bank also participate. The chairs of the International Monetary and Financial Committee and Development Committee of the IMF and World Bank also participate on an ex-officio basis.

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Meetings

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G20 Environment and Energy Ministerials

Members

¹¹(March 15, 2008, Reuters News)

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Meetings

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Notes