Axis Insights | What UNGA 2026 Is Really Telling Us About Global Affairs
United Nations Headquarters, New York
Ambassador Peter Selfridge, Associate Partner
After several days in New York for the United Nations General Assembly and the wider program of meetings and events around it, one thing has struck me particularly strongly: more than ever, the most important conversations are happening beyond the formal proceedings.
The speeches from the podium matter, of course. But for anyone trying to understand where global politics, business and policy are heading, the more revealing conversations are often taking place in the rooms around them – between governments, business leaders, investors, international organizations and civil society.
Five things in particular stand out.
1. The center of gravity of global decision-making is increasingly dispersed
UNGA remains one of the few moments when so many of the world’s political and economic leaders converge in one place. But there is no longer a single room in which the important conversations take place.
The formal UN agenda sits alongside a dense network of government meetings, business events, investor gatherings, private discussions and civil society forums. Understanding what matters increasingly requires following the connections between them.
That makes being in New York particularly valuable. The question is not simply what governments are saying publicly, but what they are discussing with one another – and with business – when the cameras are elsewhere.
2. Geopolitics is now inseparable from almost every major policy question
It is difficult to have a serious conversation about climate, energy, technology, trade or development without it quickly becoming a conversation about geopolitics.
Energy security, industrial competitiveness, critical minerals, supply chains and technology are all becoming part of the same strategic picture. The transition to a lower-carbon economy is therefore no longer simply an environmental policy challenge. It is also an economic and geopolitical one.
For businesses, this means that understanding the political context behind policy decisions is becoming as important as understanding the policy itself.
3. The Global South is asking for a different bargain
There is a growing recognition that the next phase of the global climate and development agenda cannot simply reproduce the assumptions of the past.
For many emerging economies, the central questions are about growth, energy access, investment, jobs and development — and about who pays for the transition.
That does not mean that climate ambition has disappeared. It means that the political conditions for delivering it are becoming more complex. Finance, technology transfer and economic opportunity are increasingly central to the conversation.
4. Trust – between institutions, governments and business – is becoming more important, and harder to build
One of the striking features of the current international environment is the gap between the number of issues requiring cooperation and the level of trust between the actors who need to cooperate.
That makes relationships matter.
Formal diplomacy remains essential, but so too do the networks of people who can communicate across institutional and political boundaries. The ability to understand different perspectives, identify common ground and maintain relationships when interests diverge is becoming an increasingly important form of strategic capital.
5. For business, politics is no longer a backdrop
Perhaps the most important takeaway is that companies can no longer treat geopolitics and public policy as external variables that sit alongside business strategy.
Regulation, industrial policy, elections, trade, technology, energy and national security are increasingly interconnected. Decisions taken in government can reshape markets; decisions taken by companies can become matters of public policy.
The companies that navigate this environment successfully will be those that understand not only what governments are likely to do, but why, who is shaping the debate, and where the pressure points are likely to emerge next.
The value of being in the room
That, ultimately, is one of the reasons gatherings such as UNGA continue to matter. The formal program provides an important view of the international agenda. But the conversations around it provide another – often more nuanced – perspective on where that agenda is actually heading.
After a week in New York, my strongest impression is that the global system is not becoming simpler. It is becoming more interconnected, more contested and more difficult to navigate. For governments and businesses alike, that makes proximity to the people and conversations shaping these issues increasingly valuable. It is also why being present at moments such as UNGA matters: not simply to hear what is being said, but to understand what is changing.
New York, September 24, 2026