Global Summits in an Age of Geopolitical Mistrust

As countries become more competitive and mistrustful, people are questioning the value of international summits –?but leaders keep on turning up. This month we consider these high-profile meetings – which include COP29, the ASEAN, East Asia and BRICS Summits – and reflect on their continued existence, as genuine global collaboration becomes more difficult.

Some criticise these meetings as ineffective talk-shops. Others point to the value of maintaining channels of communication between countries that may otherwise fail to cooperate on shared challenges, or even slide into conflict. Our edition explores a couple of reasons countries keep attending. First, many use these meetings – especially when hosting – to burnish and shape their global reputations. Second, some conferences provide countries with the opportunity to push their foreign policy goals.

What’s next, and where does Australia fit in? As long as powerful countries believe they are better off attending than not, the summits will continue. This is good news for Australian businesses, because international forums are part of the ‘rules-based global order’ that supports Australia’s economic interests. For this reason, Australian governments and companies are likely to continue investing time and effort in global summitry.

SHAPING GLOBAL REPUTATIONS

Even though international cooperation is becoming more difficult, countries continue to spend significant sums to host global major forums. One motivation is reputational management. For example, this year, Azerbaijan will host the 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29), hoping to both influence global decarbonisation commitments and improve its global reputation. The host has called for a global truce to accompany the conference.

But these reputational strategies can backfire, with some accusing Baku of "greenwashing" and "peacewashing" – that is, seeking to use the conference to distract from ongoing reliance on fossil fuels, and conflict with neighbour Armenia. Azerbaijan isn't alone in attracting these criticisms. The United Arab Emirates faced similar claims during COP28.

As Australia bids to co-host (with Pacific nations) COP31 in 2026, the government is most likely weighing up the reputational benefits that can come with the job, along with the increased scrutiny that it brings. If Australia’s bid is successful, Australian companies may also face growing pressure to decarbonise, as well as more opportunities all along renewable energy value chains.

ADVANCING NATIONAL AND INDUSTRIAL INTERESTS

International forums are important arenas where countries and industries advance their interests, including territorial claims, decarbonisation goals and resource extraction rights. These forums provide a platform to shape global agendas and to ensure that a country’s national priorities are reflected in international decisions. The increasingly competitive geopolitical environment has, if anything, increased the willingness of countries to attend these meetings. No-one wants to be away from the table when new rules are agreed to.

For instance, analysts point out how Beijing leverages global meetings and institutions including the East Asia Summit (EAS) to influence how the rest of the world perceives China’s territorial claims. Other countries use international platforms to push for other national priorities, including decarbonisation commitments, the protection of ecological regions, or resource extraction.

Australia continues to be an active participant in international forums, including the EAS and recent climate summits, where decisions made can have far-reaching impacts on domestic industries. Australian companies should stay engaged with government to ensure their interests are represented at these meetings, as the outcomes often shape national economic and security priorities.

MULTILATERAL FORUMS UNDER STRAIN IN AN ERA OF RISING NATIONALISM

Multilateral forums are facing significant challenges, as cooperation among nations weakens. Nationalist agendas, which prioritise domestic interests, are undermining the ability of summits to achieve progress on pressing issues such as trade and regional security.

Despite the difficulties, Australia has a critical interest in the ongoing viability of these opportunities for international collaboration. This is because as a mid-sized, open, trade-focused economy, Australia relies on the rules-based global order. The Australian government recognises this, and has explicitly committed to working towards ongoing global collaboration.

The vast majority of Australian businesses depend on stable international relations to thrive. Maintaining global cooperation not only supports continued economic opportunities, but also enables cross-border collaboration.