World leaders have convened in Rio de Janeiro for the annual G20 summit, facing a complex agenda dominated by global trade tensions, international conflicts, and stalled climate negotiations. Host President Luiz Inácio Lula da Silva is expected to prioritize a global tax on billionaires and a renewed commitment to ending world hunger through a new global alliance. However, the shadow of the ongoing COP29 summit in Baku looms large, as negotiators there look to the G20 for a breakthrough on climate finance for developing nations. While some member states advocate for increased contributions to meet green energy goals, others remain cautious citing domestic economic pressures and shifting political landscapes. Analysts suggest the summit serves as a critical test for multilateralism during a period of significant geopolitical transition.