G20 New Delhi Leaders’ Declaration

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Context

• The leaders at India’s showpiece G20 Summit arrived at a joint communique — called the G20 New Delhi Leaders’ Declaration.
• The announcement is significant as the deliberations on the Delhi declaration were clouded by the different positions on the Russia-Ukraine war.

Key Highlights

Growth, Economy, and Jobs

• The declaration acknowledges the fragility of the global economy and commits G20 members to implement well-calibrated policies to promote growth, reduce inequalities, and maintain stability. It emphasizes the role of the private sector, sustainable global value chains, and startups and MSMEs.

Financial Inclusion and DPI

• The declaration endorses advancing financial inclusion and productivity gains through Digital Public Infrastructure (DPI), encouraging the use of technological innovations to achieve financial inclusion and reduce remittance costs. It also highlights India’s DPI model.

Sustainable Development Goals (SDGs)

• G20 reaffirms its commitment to mobilize financing for SDGs, particularly focusing on reducing hunger and ensuring access to quality education. It acknowledges the volatility of food and energy markets.

Climate

• The declaration commits G20 to accelerate actions to address environmental crises and climate change, aiming to achieve net-zero emissions by around 2050. It endorses sustainable lifestyles and clean energy transitions.

MDB Reform

• G20 seeks to enhance multilateral development banks (MDBs) by improving operating models, responsiveness, and financing capacity. It encourages MDBs to collaborate, leverage private capital, and support low and middle-income countries’ transitions to low emissions.

Women-led Development

• The declaration promotes “women-led development” and women’s full participation in decision-making, addressing issues related to labor force participation, education, social protection, and gender equality.

Ukraine

• The declaration discusses Ukraine, emphasizing the harmful consequences of wars and conflicts. While it recognizes national positions and UN resolutions, it calls for refraining from the threat or use of force and highlights the impact of the conflict on various global aspects.

PRACTICE QUESTION Q. The G-20 Delhi Declaration places emphasis on strong, sustainable, balanced, and inclusive growth. Shed light on the key provisions of the G20 New Delhi Leaders’ Declaration.

https://thewire.in/environment/g20-why-many-of-the-delhi-declarations-climate-commitments-are-vaguehttps:/indianexpress.com/article/explained/explained-climate/g20s-climate-action-promise-8937202