Igor Makarov took part in the T20 Conference – the Expert Track of the G20

This year, the T20 (Think20) conference, the expert engagement track of the G20, was held from 19 to 20 June in Pretoria, South Africa.

Igor Makarov, Head of the Laboratory for Climate Change Economics, shared his reflections on the outcomes of the conference. According to him, countries of the Global South have developed a set of shared priorities: promoting barrier-free mutual trade, reforming international financial institutions to support development, accelerating the digital transformation of economies, and addressing climate change through a green transition as a strategy for leapfrogging growth.

Over the past four years, the Global South agenda has gained significant traction within the G20, leading to a greater alignment of positions among developing countries on key issues. However, concrete steps to implement this agenda have yet to be taken.

Meanwhile, interest in the G20 from major powers such as the United States and China has notably declined. Against this backdrop, BRICS is assuming a growing role: it is increasingly mentioned in global discussions, and its importance is on the rise. At the same time, a hybrid scenario also appears likely, in which the largest Global South countries may use the G20 as a platform for dialogue with Europe, and BRICS as a channel for engagement with China.