2025: A Pivotal Year for Global Cooperation and Action
The year 2025 represents a critical juncture for the global community, as it faces unprecedented challenges that demand collective action. Rising inequalities, climate change, and the financing gap for sustainable development are pressing issues that are deeply interconnected. Addressing these challenges is not just urgent but requires a coordinated and bold approach, rather than retreating into isolation or unilateral measures. Three major global events in 2025— the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain; the 30th Conference of the Parties (COP30) to the United Nations Framework Convention on Climate Change (UNFCCC) in Belém, Brazil; and the G20 Summit in Johannesburg, South Africa—offer a unique opportunity to chart a path toward a more just, inclusive, and sustainable world. These gatherings must not follow the status quo; they must deliver tangible progress and set the stage for a renewed commitment to multilateralism.
A Multilateral Moment We Cannot Waste
Trust in multilateral institutions is wavering, but the need for global cooperation and dialogue has never been more urgent.Multilateralism, when ambitious and action-oriented, remains the most effective way to address shared challenges and advance common interests. The successes of past multilateral efforts, such as the 2030 Agenda and the Paris Agreement, demonstrate the power of collective action. The FfD4, COP30, and G20 must serve as milestones in a renewed commitment to inclusiveness, sustainable development, and shared prosperity. Achieving this will require strong political will, the full participation of all stakeholders, and a creative mindset that acknowledges the constraints and priorities of all economies.
Tackling Inequality Through a Renewed Financial Architecture
Income inequality is widening both within and between nations, with many developing countries struggling under unsustainable debt burdens, limited fiscal space, and barriers to fair access to capital. This is not only a moral failing but also an economic risk for the global community. Reforming the global financial architecture is essential to provide countries in the Global South with greater voice and representation, as well as fairer and more predictable access to resources. The G20, under South Africa’s presidency, is focusing on three key areas: advancing debt relief initiatives, promoting innovative financing mechanisms, and addressing the high cost of capital faced by developing countries. Additionally, the FfD4 in Seville will be a crucial moment to secure commitments for stronger international financial cooperation, including better taxation of global wealth and negative externalities, enhancing domestic resource mobilisation, and effectively reallocating Special Drawing Rights.
Just Transitions Toward Climate-Resilient Development
For many developing countries, a just transition to a climate-resilient future remains out of reach due to a lack of funds and development constraints. This must change in 2025. At COP30 in Belém, hosted in the heart of the Amazon, ensuring that climate finance commitments translate into concrete action is paramount. The success of COP30 will hinge on bridging the gap between promises and delivery. Key priorities include the submission of new and ambitious Nationally Determined Contributions (NDCs) by all parties and the Baku to Belém Roadmap, which aims to scale up financing to developing countries to at least $1.3 trillion annually by 2025. There is also a need to significantly increase climate adaptation finance, leverage private sector investment, and enhance the role of multilateral development banks in climate financing. The FfD4 in Seville will complement these efforts by ensuring that climate action does not compromise development goals.
An Inclusive Response to Global Threats
The world is increasingly fragmented, but this is precisely why we must redouble our efforts to find common ground.Global challenges like inequalities, climate change, and financial instability require an inclusive and coordinated response. The meetings in Seville, Belém, and Johannesburg must serve as beacons of multilateral cooperation, demonstrating that nations can unite around shared priorities. In Seville, the focus will be on mobilising public and private capital for sustainable development, recognising the inseparability of financial stability and climate action. In Belém, the emphasis will be on protecting the planet through collective climate action. In Johannesburg, the G20 will reaffirm the importance of inclusive economic growth. These gatherings must inspire hope and demonstrate that multilateralism can deliver results when all stakeholders rise to the occasion.
A Call to Action: Rising to the Multilateral Moment
As we look ahead to 2025, the stakes could not be higher. The global community must seize this opportunity to reaffirm its commitment to multilateralism and deliver real progress on the most pressing challenges of our time. We call on all nations, international institutions, the private sector, and civil society to rise to this moment with ambition and urgency. Multilateralism is not just an ideal; it is a necessity. When nations work together, they can achieve extraordinary things. The year 2025 presents a unique chance to build a more just, inclusive, and sustainable world. Let us not waste it.
