At the closing of the Urban Summit (U20), held within the framework of G20 activities, whose leaders’ forum will take place tomorrow and Tuesday in Rio de Janeiro, the host president indicated that these transformations are essential to guarantee the necessary financing for cities in the fight against climate extremes and social inequality.
“There is a deficit in urban financing, which cannot keep pace with the disorderly urbanization in many parts of the world, such as in Africa, Asia and Latin America. Therefore, the third priority of the Brazilian presidency of the G20 is the reform of global governance,” said the president.
He pointed out that “it will not be possible to build a new urban agenda without investment and without adequate multilateral governance.”
U20, created in 2017, brings together mayors from G20 countries (a group of the 19 main economies in the world and the European and African Unions), with the aim of integrating cities into the global agenda and strengthening international cooperation to confront the climate crisis.
During the meeting, which was attended by the President of Chile, Gabriel Boric, and the Mayor of Rio, Eduardo Paes, the Brazilian head of state highlighted the strategic role of urban centers.
“More than half of the world’s population lives in cities, which generate 80 percent of the global GDP (Gross Domestic Product). However, the wealth created does not equally benefit its inhabitants, especially in Latin America, the most unequal continent in the world, according to the UNDP (United Nations Development Program),” he said.
Lula insisted on his criticism of the lack of resources allocated to developing countries and cities, highlighting that metropolises do not have the capacity to face the necessary transformations on their own.
“Cities cannot be neglected in the new mechanisms for financing the climate transition. There is a huge gap in urban financing, especially in the Global South, which suffers from disorderly urbanization and deep social challenges,” he warned.
The president also highlighted the importance of resilient and inclusive cities to meet the UN Sustainable Development Goal (SDG) 11.
He stressed that the place where a person lives directly influences their access to fundamental rights, such as education, health and security.
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