Viviana Santiago, Executive Director of Oxfam, highlighted the significance of the G20’s commitment to imposing higher taxes on the wealthiest individuals. This initiative, she argued, is crucial in tackling systemic inequality and providing much-needed funding for climate adaptation and poverty alleviation.

Santiago’s remarks were echoed by Lebohang Ramafoko, Executive Director of Oxfam South Africa (SA), who discussed Brazil’s efforts in Rio de Janeiro, emphasising the importance of continuing this momentum as SA prepares to take on the G20 presidency in 2025.

“Brazil has made history by pushing for a global commitment to tax the richest individuals, especially when considering the trillions of dollars needed to finance a just transition for climate change,” Ramafoko explained.

During the G20 summit, Finance Ministers agreed to work together on a global tax framework targeting the wealthiest individuals and corporations, a move that could potentially unlock the necessary funds to address climate change and inequality. Ramafoko underscored that the top 1% of the world’s population holds 31% of global wealth, a situation that exacerbates poverty and inequality, particularly in countries like South Africa, Brazil, and Argentina, where the wealth gap is stark. She stressed the importance of taxing the super-rich, whose wealth has ballooned by 150 times in the past two decades, while the bottom 99% have seen their financial conditions worsen.

“Countries like SA have long struggled with the issue of tax fairness. However, when there is a global commitment to tax the super-rich, it becomes much more feasible to ensure these individuals contribute their fair share,” said Ramafoko. She also noted that the myth that big corporations and the ultra-wealthy will reinvest their wealth into countries like SA has been debunked, as these corporations have often evaded taxes through loopholes and tax havens. “In South Africa, for instance, while the wealth of the richest individuals grows, the living conditions of those in mining communities remain dire.”

Oxfam has also called for $5 trillion in climate finance at COP29, a goal that Ramafoko believes SA should vigorously advocate for during its G20 presidency. She emphasised that countries in the Global South, like SA, are among the lowest emitters of carbon but are bearing the brunt of climate catastrophes. Therefore, it is only fair that wealthier, more polluting nations take responsibility for funding the solutions needed to mitigate climate change.

“The call for climate finance should not just be a call for SA, but for the entire world,” Ramafoko asserted. “It is crucial that the countries that pollute the most are the ones who pay for the necessary climate adaptation and mitigation measures.” She further stressed that the tax measures being discussed at the G20 could play a vital role in funding these initiatives.

Ramafoko also discussed Oxfam’s advocacy for local vaccine production, especially in the Global South, to ensure affordable access to essential medicines. Se referenced SA’s leadership during the COVID-19 pandemic, where civil society fought for greater access to vaccines. However, patent laws and the dominance of Big Pharma have made it difficult for countries like SA to produce their own vaccines. Ramafoko called for a rethinking of patent laws to ensure that public health is prioritised over profit.

Looking ahead to SA’s G20 presidency, Ramafoko highlighted the importance of continuing the legacy set by Brazil in advocating for global tax fairness and climate finance. She also pointed to the pressing need to address issues like food security, water, and energy poverty, which are critical to SA’s development. Oxfam’s recent meeting with over 146 organisations across Africa outlined these priorities, which will need to be taken into account as SA shapes its agenda for the G20.

“The success of SA’s G20 presidency will depend on its ability to put the needs of local communities front and centre while advocating for global solutions,” said Ramafoko. “We need to ensure that the voices of the most vulnerable are heard and that we make real progress on the issues that matter most to the people and the planet.”

As SA prepares to assume the G20 presidency, Oxfam remains hopeful that the country will continue to champion the global fight against inequality, poverty, and climate change, building on the achievements of Brazil’s tenure.

--Channel Africa--