In 2008, at the height of the global financial crisis, the G20 convened for the first time as a summit of leaders of state and government. The G20's concerted collective steps the next year mitigated the financial crisis to a lesser extent. Challenges to rules-based international cooperation from major nations and criticisms of its efficacy and legitimacy have fuelled an underlying structural issue that the G20 is still battling a decade later. Following the 2008 financial crisis, the Group of Twenty (G20) supplanted the more influential Group of Seven as the preeminent platform for international collaboration and governance.

In this research, we conduct an event analysis to determine whether the global financial markets have been affected by the G20 ministerial and leaders-level meetings. This article presents a special issue that delves into the G20's governance structure, the ways it has changed and evolved over the years, its ability to address global concerns, and the unique position of emerging countries within it. This special issue continues the conversation on the social purpose of club governance that began at the G20 meeting over a decade ago, with a focus on institutional viewpoints.