The world’s 20 largest economies came together in New Delhi for a summit where they released a joint declaration heavily focused on climate and sustainability issues. However, the conflict in Ukraine threatened to hinder the adoption of the document due to major geopolitical rivalries among the member nations. As a result, the declaration carefully avoided taking an explicit side on the Ukraine conflict. The host nation, India, remained neutral on the matter, further complicating the discussions.
The paragraphs pertaining to Ukraine were the last to be finalized in the declaration. The final statement emphasized that all nations should refrain from using force to seek territorial acquisition, while also condemning the use or threat of nuclear weapons. This wording allowed Russia’s representative, Foreign Minister Sergey Lavrov, and his Western counterparts to accept the compromised language. With both Russia and Ukraine claiming territories from each other, this statement acted as a technical compromise that satisfied both sides.
Although the G20 recognizes that it is not the appropriate platform to resolve geopolitical and security issues, the joint declaration still called for a revival of the Black Sea Grain Initiative. This initiative was abandoned by Russia in July due to the failure of the US and EU to fulfill promises regarding Russian food products and fertilizers. The declaration specifically demanded unimpeded deliveries of grain, foodstuffs, and fertilizers from both Russia and Ukraine.
Apart from the Ukraine conflict, the declaration also focused on sustainable growth. Indian Prime Minister Narendra Modi aimed to strengthen the voice of the Global South during the summit. In line with this objective, the declaration called for a reshaping of global financial institutions to promote growth, reduce inequality, and maintain macroeconomic and financial stability.
The document proposed restructuring the debts of developing countries in certain cases and advocated for their inclusion in a non-discriminatory, fair, open, inclusive, equitable, sustainable, and transparent multilateral trading system. Furthermore, it stressed the need for increased research into climate-resilient and nutritious grains, as well as ramping up global fertilizer production to combat food shortages.
Addressing climate change, the joint declaration emphasized the full and effective implementation of the Paris Agreement and its temperature goal. It acknowledged the need for meaningful and effective actions to limit global warming to two degrees above pre-industrial levels. These actions included higher carbon taxes, the elimination of fossil fuel subsidies, and the phased-out use of coal power.
Achieving these climate targets would require significant financial resources. The declaration estimated that developing countries would require up to $5.9 trillion by 2030, while the entire world would need $4 trillion per year by 2030 to reduce carbon emissions to net zero by 2050.
Additionally, the declaration called for reform at the United Nations to ensure its responsiveness to all member nations and its adherence to its founding principles. India, in particular, has consistently advocated for a permanent seat on the UN Security Council and for increased representation for developing nations on the body. While the language of the declaration expressed support for a more inclusive and reinvigorated multilateralism, it avoided direct reference to the term “multipolar world.”
Despite the absence of explicit mention, the concept of a multipolar world order is expected to dominate future G20 meetings, especially as BRICS members Brazil and South Africa are scheduled to host the 2024 and 2025 summits, respectively. These upcoming summits are likely to provide an opportunity for further discussions and negotiations on multilateralism and global governance representation.
Overall, the joint declaration from the G20 summit in New Delhi reflected a careful balance between addressing climate and sustainability issues while navigating geopolitical rivalries and the conflict in Ukraine. It demonstrated a commitment to global cooperation and collective action on critical challenges, emphasizing the importance of inclusive multilateralism and sustainable growth.
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