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  • Sheryll Mericido

G20 leaders stress cooperation amid global economic obstacles and crises

New Delhi, September 11, 2023, The G20 leaders emphasized the need for G20 cooperation as obstacles to global economic development and stability persist and as the Sustainable Development Goals (SDGs) and the 2030 Agenda have made progress but have since been undone by years of cascading crises and problems. The "G20 New Delhi Leaders' Declaration" was released during the G20 meeting, which ended yesterday in India, and was centered around the idea of "One Land, One Family, One Future." The top international conference for economic cooperation, the G20, has made the following commitments from its leaders:

a. Promoting rapid, robust, balanced, and inclusive growth

Accelerating the 2030 Agenda for Sustainable Development's full and successful implementation

c. expanding supplies and production capabilities in underdeveloped nations and promoting improved access to medical countermeasures in order to better prepare for future health emergencies.

d. Fostering robust growth by swiftly and successfully addressing developing nations' debt risks

e. working to improve, expand, and strengthen multilateral development banks (MDBs) in order to address global issues and maximize their positive impact on development.

f. Expanding public access to digital services and infrastructure while taking advantage of the potential for digital transformation to promote equitable and sustainable growth

g. supporting long-term, high-quality, safe, secure, and profitable employment.

b. Eliminating gender disparities and encouraging women's full, equal, and meaningful participation as decision-makers in the economy

i. Strengthening the voice of developing nations in international decision-making by better incorporating their perspectives, notably those of the least developed countries (LDCs), landlocked developed countries (LLDCs), and small island developing states (SIDS), into upcoming G20 agendas

The leaders agreed to improve global food security and nutrition for all in accordance with the G20 Deccan High-Level Principles on Food Security and Nutrition 2023 in order to speed up progress on the SDGs. They also vowed to provide all people, including those in vulnerable situations, with inclusive, equitable, high-quality education and skill training.

As part of the Green Development Pact for a Sustainable Future, the world's leaders committed to urgently accelerating their efforts to address environmental crises and challenges, improving environmentally sound waste management, significantly reducing waste generation by 2030, restoring at least 30% of all degraded ecosystems by 2030, stepping up efforts to achieve land degradation neutrality, and conserving, protecting, restoring, and sustainably using the ocean and marine ecosystems around the world. Additionally, they recalled and repeated the industrialized nations' pledge from 2010 to mobilize $100 billion annually to finance climate challenges.

The leaders reaffirmed their support for a strong, quota-based, and sufficiently resourced IMF at the center of the global financial safety net when discussing multilateral institutions for the twenty-first century.

The G20 leaders made a commitment to advancing gender equality and women's empowerment, closing the gender digital gap, and promoting gender-inclusive climate action.

The G20 leaders also promised to improve relations with the African Union and aid it in achieving Agenda 2063 goals.

The G20 leaders reaffirmed their commitment to achieving net zero global greenhouse gas (GHG) emissions or carbon neutrality by or around the middle of the century while taking into account the most recent scientific advancements, in accordance with various national circumstances, and while taking into account various approaches, including the circular carbon economy, socioeconomic, technological, and market development, and advocating for the most effective solutions.

Along with emphasizing the significance of preserving uninterrupted energy flows from various sources, suppliers, and routes, they also explored ways to improve energy security and market stability, including through inclusive investments to meet the rising energy demand in line with their sustainable development and climate goals while promoting open, competitive, non-discriminatory, and free international energy markets.

Finally, G20 leaders expressed their gratitude to India for successfully hosting the 18th G20 Summit in New Delhi, for welcoming guests with open arms, and for making significant contributions to the G20's growth. They expressed gratitude and appreciated the findings of the various G20 working groups' and ministerial meetings' successful conclusion.

They also expressed excitement for their upcoming meetings in Brazil in 2024, South Africa in 2025, and the United States in 2026. They also praised Saudi Arabia's desire to advance its turn as host of the G20 Presidency in the upcoming cycle.

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