With Prime Minister Narendra Modi at the helm, India is gearing up to host the virtual G20 Leaders’ Summit, scheduled for Wednesday evening. The summit is expected to assemble a significant gathering of world leaders, including representatives from all G20 member nations, the Chair of the African Union, leaders from nine guest countries, and heads of 11 international organizations.
The decision to host the virtual summit was announced by Prime Minister Modi on September 10 during the closing ceremony of the G20 Summit. This event precedes the conclusion of India’s G20 Presidency on November 22.
The summit aims to address crucial global issues, review developments since the New Delhi G20 Summit in September, and determine key outcomes. Notable progress has been made on major G20 priorities and outcomes since the previous Leaders’ Summit held in New Delhi on September 9-10.
One significant achievement of India’s G20 Presidency is the consensus on tripling global renewable energy capacity by 2030 and doubling the global rate of energy efficiency improvement by 2030. These commitments, made by G20 Leaders in Delhi for the first time, are anticipated to be key outcomes of COP28.
In addition, the US-China Joint Statement on November 14 demonstrated support for the G20 Leaders’ Declaration, emphasizing efforts to triple renewable energy capacity globally by 2030. Both nations committed to undertaking five large Carbon Capture, Usage, and Storage (CCUS) projects, aimed at reducing CO2 emissions from major point sources.
India’s advocacy also played a crucial role in securing a commitment of USD 44.5 million for the Global Initiative on Digital Health (GIDH). Initiatives such as creating a framework based on G20 AI Principles, UNESCO’s Ethical AI Guidelines, and India’s Responsible “AI for All” Principle have been initiated.
The Ministry of Electronics and Information Technology (MeitY) is leading the co-design process of One Future Alliance (OFA) for Digital Public Infrastructure (DPI) with interested countries.
Key reports, including Volume 2 of the Independent Expert Group on Strengthening of Multilateral Development Banks (MDBs) and the 2023 G20 New Delhi Update, have been submitted and welcomed by G20 Finance Ministers and Central Bank Governors.
On November 7, the International Monetary Fund (IMF) Executive Board proposed a quota increase to the Board of Governors, and an action plan on Sustainable Development Goals (SDGs) is underway.
Other notable accomplishments include the socialization of Principles on Lifestyles for Sustainable Development (LiFE) and efforts towards bridging the gender digital divide through initiatives like TechEquity, a digital inclusion platform for women.
G20 Sherpa Amitabh Kant emphasized that the Virtual G20 Summit, chaired by PM Modi, will build upon the guidance provided by participating world leaders to implement the Summit’s outcomes. The summit, commencing at 5:30 pm today, is expected to be a major gathering of world leaders since the conclusion of the 78th Session of the UN General Assembly high-level week and the SDG Summit.
