Shedding light on the concrete outcomes of the G20 presidency, Verma delineated several initiatives spanning finance, climate action, health, and energy that would provide substantial benefits to member countries…reports Asian Lite News
The Annual Ministerial Meeting of the G77+China, a coalition aiming to promote the collective economic interests of developing countries, concluded successfully in Havana, Cuba, with India reiterating its commitment to a more inclusive global economic order.
Delivering India’s statement on Saturday (September 23, 2023), Secretary (West), Ministry of External Affairs Sanjay Verma underscored that the discussions and resolutions from the G77 meeting resonated deeply with the objectives India championed during its recent G20 presidency.
“A ground-breaking achievement was the inclusion into the G20 of the African Union as a permanent member, and as a permanent voice of the Global South within the G20. This sits perfectly with the theme of our discussions today, because the African continent now has a significant role in decision-making on global economic and financial issues,” he said.
The week had been bustling with diplomatic activity, encompassing crucial events like the Sustainable Development Goals (SDG) Summit, the High-Level Dialogue on Financing for Development, the Climate Ambition Summit, and preparations for the SOTF. With such an intensive backdrop, the G77 Summit held even more significance.
Earlier in the year, a total of 125 countries convened for the Voice of the Global South Summit, paving the way for India’s leadership in the G20. Verma highlighted, “32 of the 87 deliverables from the G20 Summit specifically aimed to advance the interests of the Global South.”
Shedding light on the concrete outcomes of the G20 presidency, Verma delineated several initiatives spanning finance, climate action, health, and energy that would provide substantial benefits to member countries:
– The G20’s commitment to revamp Multilateral Development Banks (MDBs) to enhance their operational efficiency, bolstering their financing capacity for maximum developmental impact.
– A marked escalation in climate financing efforts, with developed nations expected to achieve the targeted $100 billion annual climate finance for the first time in 2023. An ambitious and transparent New Collective Quantified Goal (NCQG) for climate finance is slated for finalization by 2024.
– Launch of the Global Initiative on Digital Health (GIDH) in Gandhinagar, aiming for a digital health transformation driven by global convergences and underpinned by World Health Organization (WHO) guidelines.
– On the energy front, the G20 High-Level Voluntary Principles on Hydrogen aim to revolutionize the production and trade of green hydrogen and its byproducts, furthering global efforts to achieve carbon neutrality.
“These endeavors exemplify India’s steadfast dedication to fostering a more inclusive global economic landscape,” Verma concluded. “We remain committed to working collaboratively with our G77 partners to realize our shared aspirations.”
Sanjay Verma’s statements come at a pivotal moment when global cooperation is more essential than ever to address multifaceted challenges and ensure sustainable growth for all nations.
The G77+China, headquartered at the United Nations, has been a beacon for developing nations to collaborate and champion their shared economic interests on a global platform. The group currently includes 134 member states, making it one of the largest coalitions within the UN. (India News Network)
