Today marked the start of the three-day G20 Summit 2023 in New Delhi, which featured key subjects being discussed by world leaders. The New Delhi G20 Leaders' Summit Declaration has been adopted, marking a significant development that demonstrates India's achievement at the G20 Summit. As the leaders began the second round of the G20 Summit, Prime Minister Narendra Modi made a significant statement.
What is G20 New Delhi Leaders’ Declaration?
The Sustainable Development Goals (SDGs), the Green Development Pact for a Sustainable Future, multilateral institutions for the 21st Century, and reviving international cooperation are among the important concerns that are highlighted in the Delhi Declaration.
During a summit on Saturday, Indian Prime Minister Narendra Modi said that the G20 had enacted an agreed-upon declaration on issues facing the group, indicating that a solution to significant disagreements. Here’s what has been discussed in the latest declaration.
All nations must act in a way that complies with the goals and values of the UN charter with regard to the conflict in Ukraine. Without specifically mentioning Russia, it stated that all governments shall abstain from using force or threatening to use it to acquire territory at the expense of another state's sovereignty, territorial integrity, or political independence.
Nuclear weapons use or the threat of use are forbidden, according to the declaration. There were several opinions and analyses of the situation regarding the Ukraine issue. Diplomacy and communication, as well as efforts to tackle situations and resolve problems peacefully, are essential.
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Ensure that grain, food, and fertilizer/input deliveries from Russia and Ukraine are made immediately and without interruption. It was urged to stop using military force or launching other attacks on vital infrastructure in order to maintain food and energy security. The food and energy markets still have the potential for very high levels of volatility.
Support for the high-level recommendations of the Financial Stability Board for the regulation, supervision, and oversight of crypto-assets and activities. At their meeting in October, finance ministers and central bank governors will talk about moving the cryptocurrency plan forward.
Taking steps to make it easier for developing nations to access low-cost financing to aid in their shift to low-carbon/emission economies. By 2030, it will continue and support initiatives that aim to threefold the amount of renewable energy produced on a global scale using current targets and policies that take into account local conditions.
Major highlights of Delhi Declaration:
- Promote rapid, inclusive, balanced, and powerful growth.
- Increase the speed at which the 2030 Agenda for Sustainable Development is fully and successfully implemented.
- Develop in a way that is low in carbon emissions, climate-resilient, and environmentally responsible.
- Increase the availability of medical countermeasures and help poor nations access greater resources and production capacity.
- Promote strong growth by quickly and successfully focusing on developing nations' debt risks.
- For the purpose of speeding SDG progress, scale up funding from all sources.
- Increase resources to speed up efforts to meet the Paris Agreement's goals, particularly the temperature target.
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(With inputs from agencies)
