Catalysts and Constraints: A Comprehensive Review of G20 Countries' Performance in Financial Stability, Climate Change Mitigation, and Sustainable Development (2023)

Abstract

This article presents a comprehensive review of the 2023 performance of G20 countries in the critical areas of Financial Stability, Climate Change Mitigation, and Sustainable Development. The G20, now expanded to include 21 nations with the inclusion of the African Union, plays a pivotal role in addressing global challenges. The study analyses financial stability using the 2023 Index of Economic Freedom, climate change mitigation through the Climate Change Performance Index (CCPI), and sustainable development based on the Sustainable Development Report 2023. The findings reveal notable variations in the performance of G20 nations, highlighting strengths and weaknesses in each area. Key insights include the financial stability leadership of Germany and the United Kingdom, India's forefront position in climate change mitigation, and the sustainable development achievements of Germany, France, the United Kingdom, Japan, Italy, and Canada. The study underscores the interconnectedness of these three dimensions and emphasizes the need for holistic approaches to global challenges.