The G20 summit in Rio aims to build consensus on taxing the super-rich for climate action and poverty relief. But as geopolitical issues take priority, President Lula may struggle to quell skepticism over the proposal.

As leaders from the world's largest economies descend on Rio de Janeiro, here's what we'll be watching. The world’s largest economies are gearing up for the Group of 20 largest and emerging economies’ summit, a two-day affair that will bring some of global development’s most pressing issues to the center stage.

Brazil launched the Global Alliance for Hunger and Poverty on Friday at the G20 Summit in Rio, a Brazilian government official said, with an initial 41 participating members pledging to lift 500 million people out of poverty through cash transfers and social protection systems.

Brazil is preparing to host the G20 summit next week, with the administration of President Lula da Silva pulling out all the stops to turn the gathering into a major foreign policy success.

Days ahead of the G20 Summit in Rio de Janeiro, India on Wednesday exuded confidence that the Brazilian presidency of the grouping will manage to come out with a "consolidated" leaders' declaration no