G20 leaders convened in Rio de Janeiro on Monday to discuss climate change, ongoing battles in Ukraine, Gaza, and Lebanon, and other issues. The session exposed divides among international powers while also delivering some victories.

A G20 Summit banner is displayed at the City Hall in Rio de Janeiro, Brazil

The 22-page, 85-point report expressed optimism about the likelihood of an acceptable economic outcome in the near future despite the worries.

Here are 5 key takeaways from G20 Summit:

– No breakthrough in climate: In their declaration, leaders agreed that the world must reach an agreement by the end of the United Nations COP29 climate change meeting in Azerbaijan on a new financial objective for how much money affluent nations must give to poorer developing countries.

They were expected to rekindle the stalled UN climate negotiations in Azerbaijan.

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However, in their final statement, they only acknowledged the necessity of “substantially scaling up climate finance from billions to trillions from all sources.”

Importantly, they made no mention of who would supply the trillions.

A pledge for a “just, orderly, and equitable transition” away from fossil fuels was also not reaffirmed during the COP28 climate meetings in Dubai last year.

“They haven’t stepped up to the challenge,” said Mick Sheldrick, who co-founded the Global Citizen coalition.

– Ukraine war: The war in Ukraine dominated G20 negotiations, a day after the US gave Kyiv permission to strike Russian territory with American-supplied long-range missiles.

Russia pledged to respond if it was attacked.

Chinese President Xi Jinping, who, along with Brazil, has been advocating for Kyiv to enter peace negotiations with Russia, asked the G20 to help “cool” the war.

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In their closing declaration, G20 leaders expressed their support for “all relevant and constructive initiatives that support a comprehensive, just, and durable peace” in Ukraine.

They condemned the “threat or use of force to seek territorial acquisition,” as they did at the G20 last year, but they did not address Russian aggression.

– Lebanon, Gaza ceasefire calls: The leaders of the G20, which includes staunch Israel supporters such as the United States and Argentina, as well as more pro-Palestinian countries such as Turkey, have called for “comprehensive” ceasefires in Gaza and Lebanon.

They stated that the Gaza ceasefire should be consistent with a UN resolution sponsored by the United States asking for a lasting truce in the area in exchange for Hamas’ release of all captives.

It also asked for a truce in Lebanon that would allow residents to return safely to their homes on both sides of the Blue Line, which separates Lebanese and Israeli armed troops.

– Tax the super-rich: In support of working together to ensure that “ultra-high-net-worth individuals are effectively taxed,” the G20 gave Brazilian President Luiz Inacio Lula da Silva a triumph.

However, the statement said this kind of collaboration should be “with full respect to tax sovereignty” and entail “debates around tax principles” in addition to developing anti-avoidance measures.

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Gabriel Zucman, an inequality expert economist hired by the Brazilian G20 president to draft a study on the topic, praised the “historic decision.”

– Alliance against hunger: One of President Lula’s top priorities was to form a worldwide coalition against hunger, and he achieved early success by announcing that campaign at the opening of the summit, with 82 nations signing on.

The alliance intends to bring together worldwide initiatives to give funding for the anti-hunger campaign, as well as to duplicate programs that have proven successful in some countries.

The objective is to reach half a billion people by the end of the decade, lowering what Lula, who grew up in poverty, describes as an avoidable “scourge that shames humanity.”