This background report highlights the critical role of investing in early childhood development (ECD) to foster sustainable and equitable social development. It explores the G20’s past commitments to ECD and assesses the costs of government’s inaction since the 2018 G20 initiative for early child development. Findings reveal a disparity in ECD spending, with children in African Union countries receiving, on average, significantly less investment than their European counterparts. The report stresses that low ECD spending not only stymies poverty reduction efforts but also hinders maternal employment and undermines early educational outcomes. By demonstrating the long-term societal and economic costs of delayed ECD investment, this report underscores an urgent call for action from G20 nations to prioritize ECD for a more equitable future for all.