23-November-2024-Editorial

G20 RIO DE JANEIRO SUMMIT

The 19th G20 Summit was held in Rio de Janeiro, Brazil, under the theme “Building a Just World and a Sustainable Planet.”

The summit brought together global leaders to address key challenges, including sustainable development, climate change, energy transition, digital infrastructure, and global health.

India, an active participant, highlighted its progress in various sectors and its commitment to sustainable and inclusive growth.

Highlights of G20 Rio de Janeiro Leaders’ Declaration

Taxation Policies

• Advocated for fair and progressive taxation of wealthy individuals while respecting fiscal sovereignty.
• Encouraged international cooperation to harmonize global tax principles.

Strengthening Multilateralism

• Highlighted the need for greater representation of underrepresented regions like Africa, Latin America, and Asia-Pacific in global institutions, particularly the UN Security Council.
• Launched the Global Alliance against Hunger and Poverty, aiming to:

• Provide cash transfers to 500 million people.
• Offer school meals to 150 million children by 2030.

Social Inclusion and Bridging Digital Divides

• Promoted gender equality in both paid and unpaid care work.
• Pledged to halve the global gender digital divide by 2030.
• India, Brazil, and South Africa jointly proposed using Digital Public Infrastructure (DPI) to enable inclusive digital transformation.

Climate Action and Land Restoration

• Focused on technology-neutral approaches for reducing emissions.
• Welcomed the establishment of a Global Climate Change Mobilisation Task Force.
• Reaffirmed the goal of reducing land degradation by 50% by 2040 under the G20 Land Initiative.

Global Trade and Economic Policies

• Committed to avoiding discriminatory green policies that conflict with WTO rules or multilateral environmental agreements.

Health Equity

• Introduced the Coalition for Local and Regional Production to ensure equitable access to vaccines, medicines, and health technologies.

About Digital Public Infrastructure (DPI)

DPI refers to digital systems enabling governments to deliver services efficiently and foster economic opportunities.

• Functions similarly to physical infrastructure like roads or railways but operates digitally to connect people, data, and financial systems.

Key Components

1. Digital Identity Systems: Facilitating identification and access to services.
2. Real-Time Payment Systems: Supporting the seamless flow of money.
3. Data Sharing Frameworks: Ensuring consent-based sharing of personal information for citizen empowerment.

India’s Achievements Highlighted in the G20 Rio Declaration

Advancing Sustainable Development Goals (SDGs)

• Provided over 4 crore families with homes.
• Enabled access to clean water for 12 crore households.
• Delivered clean cooking fuel to 10 crore families.
• Built over 11.5 crore toilets in the past decade.

Paris Agreement Compliance

• Became the first G20 country to meet its commitments ahead of schedule.
• Achieved 40% of its electricity capacity from non-fossil fuels by November 2021.
• Progressed towards its 2030 goal of 500 GW renewable energy, with 200 GW already installed.

Promoting Green Initiatives

• Led global campaigns like:

• Mission LiFE for sustainable lifestyles.
• One Sun One World One Grid to enhance renewable energy networks.
• Global Biofuel Alliance and waste-to-energy programs promoting circular economy principles.

Enhancing Disaster Resilience

• Introduced the Coalition for Disaster Resilient Infrastructure, focusing on preparedness and recovery from climate-related disasters.

Support for the Global South

• Recognized the importance of affordable climate financing for developing nations and Small Island Developing States (SIDS).
• Launched the Global Development Compact (GDC) to share India’s growth experiences through trade, technology sharing, and concessional financing.

Importance of G20 in the Global Order

Economic Representation

G20 nations represent:

• Over 85% of global economic output.
• Around 75% of global exports.
• Approximately 80% of the world’s population.

Offers a broader perspective compared to older blocs like the G7.

Crisis Management

Played a key role during:

• The 2008–09 global financial crisis by committing USD 4 trillion to stabilize the economy.
• The economic challenges arising from the Covid-19 pandemic.

Geopolitical Inclusion

• Brings together diverse nations, including democracies like India and Brazil and autocracies like China and Saudi Arabia, to address global challenges.
• Recently included the African Union, adding voices from a continent with a population of over 1.3 billion.

Climate Leadership

• G20 members account for more than 80% of global carbon emissions, making the group essential for effective climate action.

Conclusion

The G20 Rio de Janeiro Summit emphasized sustainable development, inclusive growth, and global cooperation. India showcased its leadership through proactive measures like achieving Paris Agreement targets, advancing renewable energy, and fostering equitable development. With initiatives such as Mission LiFE and the Global Development Compact, India is paving the way for a sustainable and inclusive future for the Global South and beyond.