Johannesburg: A G20 taskforce has called for the formation of a global panel to address what it describes as an “inequality emergency,” warning that widening wealth gaps are threatening democracy, economic stability, and social cohesion worldwide.

The proposal, led by Nobel Prize-winning economist Joseph Stiglitz, was presented by the Extraordinary Committee of Independent Experts on Global Inequality under South Africa’s G20 presidency. The taskforce suggested creating a body similar to the Intergovernmental Panel on Climate Change to regularly assess and report on inequality across nations.

According to the report, the richest one percent of the global population has captured about 41 percent of new wealth since 2000, while the poorest half of the world’s people gained only about one percent during the same period. It also found that around 83 percent of countries, representing nearly 90 percent of the world’s population, experience inequality levels classified as high by World Bank standards.

The experts warned that if inequality continues to grow unchecked, it could erode trust in democratic institutions and fuel instability. They stressed that reducing inequality should not only be viewed as a moral obligation but also as an essential step toward building a sustainable and peaceful global economy.

The report is expected to be presented at the G20 Summit in Johannesburg later this month. South Africa’s presidency has prioritized “solidarity, equality, and sustainability” as central themes, and the proposal aims to give inequality the same international attention that climate change receives.

However, the structure and timeline of the proposed global panel have not yet been finalized. Details on its funding, leadership, and how it will operate remain under discussion.

As the United States prepares to take over the G20 presidency at the end of the year, observers will be watching to see whether the call for global cooperation on inequality gains real momentum or remains a symbolic appeal.

The initiative highlights a growing awareness among global leaders that the wealth gap is not only an economic issue but also a political and social one — one that could shape the stability of nations and the fairness of the global system for generations to come.