G20 leaders gathered in Rio de Janeiro, Brazil for the 19th G20 Summit, reaffirming G20 commitment to advance a sustainable and inclusive world under the theme “Building a just world and a sustainable planet.”
Additionally, the Prime Minister of India addressed the G20 session on Sustainable Development and Energy Transition.
The G20 will be hosted by South Africa in 2025, followed by the United States in 2026.
Key outcomes of the G20 Rio de Janeiro Leaders’ Declaration:
Taxing the Rich:
The manifesto advocates progressive and effective taxation of the rich.
Emphasis is placed on respect for fiscal sovereignty while promoting international cooperation on tax principles.
Multilateralism:
The Declaration stressed on better representation of under-represented regions such as Africa, Latin America and Asia-Pacific in the UN Security Council.
The G20 has launched the Global Coalition Against Hunger and Poverty, which aims to provide cash transfers to 500 million people and school meals to 150 million children by 2030.
Social inclusion and the digital divide:
Leaders are committed to promoting equal participation of both men and women in paid and unpaid care work and encouraging participation of both sexes.
The G20 countries reaffirmed their commitment to reduce the digital divide, including halving the gender digital divide by 2030.
India, Brazil and South Africa issued a Joint Declaration on Digital Public Infrastructure (DPI) for Inclusive Digital Transformation.
Climate Action:
The leaders emphasized an inclusive, technology-neutral approach to low-emission energy and welcomed the Global Climate Change Mobility Task Force.
It reaffirmed the G-20’s ambition to reduce land degradation by 50% by the year 2040 on a voluntary basis, as committed under the G-20 Land Initiative.
Global trade:
G-20 countries agreed to avoid discriminatory green economic policies in line with WTO rules and multilateral environmental agreements.
Global Health:
G-20 countries welcomed local and regional production alliances to enhance equitable access to vaccines, therapeutics and health technologies.
India’s regional progress in the G20 Rio Declaration:
Inclusion and Sustainable Development Goals:
Between 2014 and 2024, more than 4 crore households have been provided housing, 12 crore households now have access to clean water, 10 crore households have access to clean cooking fuel and more than 11.5 crore households have access to toilets.
Paris Agreement Targets:
India is the first G20 country to have pre-empted the commitments made under the Paris Agreement.
India has achieved its target of 40% installed power capacity from non-fossil fuels in November 2021 itself.
India has achieved 200 GW of capacity under the new target of 500 GW of renewable energy by 2030.
Green Transformation:
India is driving the global green transformation with Mission LIFE to promote sustainable lifestyles and initiatives such as One Sun, One World, One Grid and International Solar Alliance to enhance global energy connectivity and expand renewable energy networks.
Circular Economy:
India has launched the Global Biofuel Alliance and India has a Waste to Energy campaign which aims at minimizing waste and maximizing the use of resources.
Coalition for Disaster Resilient Infrastructure:
India has launched the Coalition for Disaster Resilient Infrastructure, which will focus on both pre-emptive measures and post-disaster recovery to build robust infrastructure to meet climate challenges.
Supporting the Global South:
India supports the need for sustainable and reliable climate finance for the energy transition in the Global South, especially for Small Developing Island States (SIDS).
The third Voice of the Global South Summit (VOGSS) is committed to sharing experiences of sustainable development with the Global South through the Global Development Compact (GDC) launched in 2024.
GDC focuses on trade, sustainable development, technology sharing and concessional financing under India’s development framework.
What is the importance of G20 in the current global order:
G20 nations collectively represent more than 85% of global economic output, about 75% of global exports and about 80% of the world’s population.
It is a more diverse and accurate representation of the world economy than older groups such as the G7.
Crisis Management:
The G20 played a major role in the response to the global financial crisis of 2008-2009, in which its member countries agreed on spending measures worth US $4 trillion, which helped manage the recession while stabilizing the global economy.
The role of the G20 has been decisive in dealing with the economic impact of the recent COVID-19 pandemic.
Geopolitical representation:
This includes influential democracies such as India and Brazil, as well as autocracies such as China, Russia and Saudi Arabia, giving a broader perspective on global issues.
Incorporating the African Union embodied the vision of a continent with more than 1.3 billion people and a US $3.1 trillion economy.
Climate change:
G20 countries account for more than 80% of global carbon emissions. These groups are indispensable in any global effort to mitigate climate change.
Conclusion:
The G20 Rio de Janeiro Leaders’ Declaration and the Prime Minister of India’s address highlighted global commitments to sustainable development, climate action and energy transition. India’s proactive initiatives to meet the goals of the Paris Agreement and promote green transition underscore its importance in promoting an equitable, sustainable and inclusive future for all countries.
