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500 Economists Urge G20 to Create IPCC-Style Panel on Inequality

Prospects are uncertain given the G20's consensus rules alongside a reported U.S. boycott.

FILE — A young girl carrying an empty water bottle through a flooded street caused by an overflowing water reservoir in Hammanskraal, Pretoria, South Africa, May 26, 2023 during a cholera outbreak. (AP Photo/Themba Hadebe,File)
Experts have called for the creation of a global inequality panel

Overview

  • More than 500 economists and experts, including Nobel laureates and former U.S. Treasury Secretary Janet Yellen, issued an open letter calling for an independent International Panel on Inequality.
  • The proposed body would be modeled on the UN’s IPCC, analyzing drivers from land ownership to tax avoidance to guide policy, with experts offering to volunteer their time.
  • The push builds on a Stiglitz-led G20 task force report that labels inequality an emergency and finds the top 1% captured 41% of new global wealth from 2000 to 2024.
  • The report also cites about 2.3 billion people facing moderate or severe food insecurity, an increase of roughly 335 million since 2019.
  • South Africa has placed inequality at the center of the Nov. 22–23 G20 summit in Johannesburg, but divided members and consensus rules make formal adoption uncertain, with AFP reporting a planned U.S. boycott.