As world leaders gather in Rio de Janeiro from November 18-19 for the G20 Leaders’ Summit, the World Communion of Reformed Churches (WCRC), together with the World Council of Churches, the Lutheran World Federation, the World Methodist Council, and the Council for World Mission, has issued a joint letter calling on G20 leaders—chaired this year by Brazilian President Luiz Inácio Lula da Silva—to advocate for bold economic and climate reforms aligned with the summit’s theme, ‘Building a Just World and a Sustainable Planet.’
Representing over 600 million Christians worldwide, the faith-based organizations emphasize the urgent need for a comprehensive New International Financial and Economic Architecture (NIFEA) grounded in economic, social, and climate justice. In a joint letter to G20 leaders, they call for systemic reforms that go beyond incremental adjustments. The organizations urge G20 leaders to take decisive action to counter extreme wealth concentration, curb the influence of speculative markets, and address economic injustices that perpetuate inequality and hinder climate action.
Addressing Inequality and Economic Injustice
The joint letter underscores the severe economic inequality affecting billions, as costs for essentials like food and shelter rise, while billionaire wealth reaches unprecedented levels. Since 2020, the five wealthiest individuals have doubled their fortunes, while nearly 5 billion people experience worsening poverty and food insecurity.
To address this disparity, the coalition strongly supports the G20 Presidency’s proposed billionaire wealth tax. This measure aligns with their “Zacchaeus Tax” campaign—a global ecumenical initiative advocating for progressive wealth taxes to reduce inequality and expand funding for critical social services. Studies suggest that a wealth tax of up to 5% on billionaire fortunes could generate $2.5 trillion annually, enabling universal healthcare and social protection for billions in need.
Proposals for Climate Action and Sustainable Development
The organizations call for immediate action on climate finance, highlighting the disproportionate environmental impact of the wealthiest individuals. With each billionaire’s annual emissions reportedly equivalent to 400,000 years of emissions by an average individual, the coalition urges G20 leaders to implement progressive carbon and pollution taxes. These measures would curb emissions from corporations and affluent individuals, fund the transition to sustainable energy, and support climate-vulnerable nations facing estimated annual climate-related costs of $2.4-4.3 trillion by 2030.
In addition to wealth and carbon taxes, the coalition proposes a financial transaction tax on equities, bonds, currencies, and derivatives to deter speculative trading and generate resources for global ecosystem protection and social equity.
Support for a United Nations Framework on Tax Cooperation
The organizations further advocate for a binding United Nations Framework Convention on International Tax Cooperation to address illicit financial flows and tax evasion by multinational corporations and ultra-wealthy individuals. Such a framework would empower developing nations to build resilient economies and secure sustainable funding for social and environmental initiatives.
Calling for Climate Commitments at COP29
Coinciding with the UN Climate Conference (COP29), the coalition urges G20 leaders to strengthen existing global commitments to emission reductions and ensure an equitable transition from fossil fuels to renewable energy accessible to all. They call for enhanced climate financing, emphasizing grants over loans to support the nations most vulnerable to the climate crisis.
A Moment to Shape History
The joint letter concludes by affirming the historic opportunity at this G20 Summit to enact transformative changes. The decisions made in Rio de Janeiro, the organizations assert, could pave the way to reduced inequality, strengthened democratic institutions, and meaningful climate action.
As the summit approaches, the World Communion of Reformed Churches and its partners pray that the G20 deliberations in Rio will be guided by the shared vision of “Building a Just World and a Sustainable Planet.”