G20 Rio de Janeiro Leaders’ Declaration | 22 Nov 2024

Source: ET 

Why in News?

Recently, the G20 Leaders convened in Rio de Janeiro, Brazil for the 19th G20 Summit reaffirming the G20's commitment of advancing a sustainable and inclusive world under the theme "Building a Just World and a Sustainable Planet." 

• Additionally, India’s Prime Minister (PM) addressed the G20 session on Sustainable Development and Energy Transition. 
• South Africa will host the G20 in 2025, followed by the United States of America in 2026. 

What are the Key Outcomes of the G20 Rio de Janeiro Leaders’ Declaration? 

• Taxing the Super-Rich: The declaration advocates for progressive and effective taxation of the super-rich. 
  • Respect for fiscal sovereignty is emphasised while promoting international cooperation on tax principles. 
• Multilateralism: The declaration emphasised better representation of underrepresented regions such as Africa, Latin America, and Asia-Pacific in the UN Security Council. 
  • G20 launched the Global Alliance against Hunger and Poverty, targeting 500 million people with cash transfers and 150 million children with school meals by 2030. 
• Social Inclusion and Digital Divide: Leaders committed to promoting equal participation of both men and women in paid and unpaid care work, encouraging involvement of both the gender. 
  • G20 countries reaffirmed their commitment to bridge digital divides, including halving the gender digital divide by 2030.  
  • India, Brazil and South Africa unveiled a joint declaration on Digital Public Infrastructure (DPI) for inclusive digital transformation. 
• Climate Action: Leaders emphasised inclusive, technology-neutral approaches for low-emission energy, and welcomed a Global Climate Change Mobilisation Task Force. 
  • It reaffirmed the G20 ambition to reduce land degradation by 50% by 2040 on a voluntary basis, as committed under the G20 Land Initiative. 
• Global Trade: G20 countries agreed to avoid discriminatory green economic policies, consistent with WTO rules and multilateral environmental agreements. 
• Global Health: G20 countries welcomed the Coalition for Local and Regional Production to enhance equitable access to vaccines, therapeutics, and health technologies.

What Are India’s Sectoral Progress Highlighted in the G20 Rio Declaration? 

• Inclusivity and SDGs: Over 4 crore families have received homes, 12 crore homes now have access to clean water, 10 crore families have been provided clean cooking fuel, and over 11.5 crore families have new toilets between 2014 and 2024. 
• Paris Agreement Target: India is the first G20 country to have fulfilled the commitments made under the Paris Agreement ahead of time.  
  • India has already achieved its target of 40% installed electric capacity from non-fossil fuels in November 2021 itself. 
  • Under India's new target of 500 GW of renewable energy by 2030, 200 GW has been achieved. 
• Green Transition: India is driving a global green transition with Mission LiFE to promote sustainable lifestyles and initiatives like One Sun One World One Grid and the International Solar Alliance to enhance global energy connectivity and expand renewable energy networks. 
• Circular Economy: India has launched the Global Biofuel Alliance and is running a  waste-to-energy campaign in India aimed at minimising waste and making the most of resources. 
• Disaster Resilience: India has launched the Coalition for Disaster Resilient Infrastructure, focusing on both preemptive measures and post-disaster recovery, to build resilient infrastructures in the face of climate challenges. 
• Support for the Global South: India recognises the need for affordable and reliable climate finance for energy transitions in the Global South, particularly for Small Island Developing States (SIDS). 
  • India commits to sharing sustainable development experiences with the Global South through Global Development Compact (GDC) launched at the 3rd Voice of the Global South Summit 2024. 
  • GDC focuses on trade, sustainable growth, technology sharing, and concessional financing within India's growth framework. 

What is Significance of G20 in Current Global Order? 

• Global Economic Influence: The G20 nations collectively represent over 85% of global economic output, around 75% of global exports, and about 80% of the world’s population. 
  • It offers a more diverse and accurate representation of the world’s economy than older blocs like the G7. 
• Crisis Management: The G20 was instrumental in responding to the global financial crisis of 2008-2009, where its member states agreed to spending measures worth USD 4 trillion which helped stabilise the global economy and prevent a deeper recession. 
  • More recently, the G20’s role was crucial in addressing the economic fallout of the Covid-19 pandemic. 
• Geopolitical Representation: It includes influential democratic nations such as India and Brazil, as well as autocracies like China, Russia, and Saudi Arabia which allows for a broader perspective on global issues. 
  • The inclusion of the African Union brought in voices from a continent with over 1.3 billion people and an economy worth USD 3.1 trillion. 
• Climate Change: The G20 countries account for over 80% of global carbon emissions. This makes the group indispensable in any global effort to mitigate climate change.

Conclusion

The G20 Rio de Janeiro Leaders’ Declaration and India's Prime Minister's address highlight global commitments to sustainable development, climate action, and energy transitions. India’s proactive initiatives, such as fulfilling Paris Agreement targets and promoting green transitions, underline its leadership in fostering a just, sustainable, and inclusive future for all nations.