New Delhi: The G20 Summit in New Delhi culminated with a ground-breaking achievement with the adoption of the ‘New Delhi Declaration’ with 100% consensus among the member states. Under the stewardship of Prime Minister Narendra Modi, the G20 member nations reached a consensus, heralding a significant milestone in global cooperation.
“I have received good news. Due to hard work of our team, consensus has been built on New Delhi G20 Summit Declaration. My proposal is to adopt this leadership declaration. I announce to adopt this declaration. On this occasion, I congratulate my Sherpa, ministers, who worked hard for it and made it possible,” PM Modi said.
Keeping the summit motto Vasudhaiva Kutumbakam (One Earth. One Family) this declaration document delves into the key highlights of the Declaration and the commitments made by these influential nations.
Emphasising Peace and Prosperity
Addressing the ongoing conflict in Ukraine, the New Delhi Declaration underscores the imperative for nations to align with the Principles and Purposes of the United Nations Charter. It unequivocally rejects the use or threat of nuclear weapons and underscores that territorial acquisition through force is unacceptable. The Declaration reinforces Prime Minister Modi’s assertion that this is an era of peace, not war.
Strategies for Strong, Sustainable, Balanced, and Inclusive Growth
Recognising the uneven global recovery, the declaration commits to implementing well-calibrated macroeconomic and structural policies. These policies aim to protect vulnerable populations, promote equitable growth, and address the cost-of-living crisis. Additionally, the Declaration acknowledges the pivotal role of the private sector in driving sustainable economic transformations.
Women Empowerment
The 83 para document also highlighted gender equality. The Declaration said: “The G20 reaffirms that gender equality is of fundamental importance and that investing in the empowerment of all women and girls, has a multiplier effect in implementing the 2030 Agenda.”
Trade for Growth | A Rules-based Multilateral Trading System
The G20 nations reiterate their commitment to a rules-based, non-discriminatory, fair, and inclusive multilateral trading system, with the World Trade Organization (WTO) at its core. They emphasise the importance of trade and investment as drivers of growth and pledge to maintain a level playing field, discouraging protectionism and market-distorting practices.
Sustainable Development Goals | Collective Action for Progress
The G20 member nations express their dedication to taking collective action for effective and timely implementation of the G20 2023 Action Plan to Accelerate Progress on the Sustainable Development Goals (SDGs).
Human Capital Development
The Declaration underscores the importance of eliminating hunger and malnutrition, improving global food security, and adhering to the G20 Deccan High-Level Principles on Food Security and Nutrition 2023. It also commits to providing inclusive, equitable, and high-quality education for all, including skill training, especially for vulnerable populations.
Green Development Pact
Highlighting the importance of environmentally sustainable and inclusive economic growth and development, the Declaration emphasises holistic and balanced approaches that preserve the planet for current and future generations.
Addressing Climate Risks
The Declaration recognises the significant macroeconomic costs associated with climate change and the need for international dialogue, cooperation, financial support, and timely policy action in alignment with country-specific circumstances.
Climate and Sustainable Finance
The G20 nations welcomed the recommendations of the Sustainable Finance Working Group (SFWG) to mobilise resources for climate finance and support transition activities while considering country-specific circumstances.
Ocean-based Economy
G20 member nations commit to conserving, protecting, and restoring the world’s oceans and marine systems, with a focus on sustainable resource use. They also express their intent to contribute to the 2025 UN Ocean Conference.
Fighting Corruption
The Declaration reaffirms the G20 nations’ dedication to fostering integrity and transparency in governance, highlighting their commitment to ending corruption.
Other Initiatives
India has introduced several initiatives, including the Global Biofuel Alliance and the proposal to blend ethanol with petrol globally to 20%. Furthermore, the “G20 Satellite Mission for Environment and Climate Observation” and the “Green Credit Initiative” are on the horizon as part of India’s commitment to environmental sustainability.
In conclusion, the New Delhi Declaration signifies a significant step towards global cooperation addressing pressing global challenges and further emphasised on an inclusive world.
With the ‘New Delhi Declaration’, the G20 members have committed to fostering peace, sustainable growth, and the achievement of the Sustainable Development Goals, making this summit a pivotal moment in the pursuit of a better world.
