Leaders from the G20 nations convened in New Delhi on September 9-10, 2023, under the theme ‘Vasudhaiva Kutumbakam’ (One Earth, One Family, One Future). Their mission is to address global challenges and shape the course of the world, with a commitment to living in harmony with the environment.
Key Highlights:
- G20 cooperation is crucial in a world facing persistent headwinds to economic growth, environmental crises, and geopolitical tensions.
- The G20 leaders emphasized the adverse impact of wars and conflicts, particularly the war in Ukraine, on global food and energy security, supply chains, and macro-financial stability, Central Bank Digital Currency.
Concrete Commitments: The G20 leaders pledged to take concrete actions and partnerships to address a wide range of issues, including:
- Strong, Sustainable, Balanced, and Inclusive Growth.
- Accelerating Progress on Sustainable Development Goals (SDGs).
- Green Development Pact for a Sustainable Future.
- Multilateral Institutions for the 21st Century.
- Technological Transformation and Digital Public Infrastructure.
- International Taxation.
- Gender Equality and Empowering All Women and Girls.
- Financial Sector Issues.
- Countering Terrorism and Money Laundering.
- Creating a More Inclusive World.
Building a Better Future: The leaders emphasized the opportunity to create a better future through just energy transitions, development models that prioritize sustainability, and human-centric approaches. They vowed to leave no one behind and pursue resilient, inclusive, and environmentally sustainable growth.
Peace and Global Crises: The G20 leaders expressed deep concern about the ongoing wars and conflicts worldwide. While acknowledging that the G20 isn’t a platform to resolve geopolitical and security issues, they recognized that these issues have significant consequences for the global economy. They called for upholding international law, peaceful conflict resolution, and diplomacy.
G20 Summit 2023: International Taxation Reform Talks
A. Strong, Sustainable, Balanced, and Inclusive Growth:
- Discussion on the global economic situation.
- Strategies to unlock trade for economic growth.
- Preparing for the future of work in a changing world.
- Advancing financial inclusion for all.
- Commitment to fight corruption.
B. Accelerating Progress on Sustainable Development Goals (SDGs):
- Recommitment to achieving the SDGs.
- Eliminating hunger and malnutrition.
- Addressing macroeconomic impacts of food and energy insecurity.
- Strengthening global health with a One Health approach.
- Collaboration between finance and health sectors.
- A focus on delivering quality education.
- Recognizing culture as a transformative driver of SDGs.
C. Green Development Pact for a Sustainable Future:
- Recognizing macroeconomic risks linked to climate change.
- Mainstreaming sustainable lifestyles.
- Designing a circular economy.
- Implementing clean, sustainable, and inclusive energy transitions.
- Prioritizing climate and sustainable finance.
- Conserving, protecting, and restoring ecosystems.
- Harnessing and preserving the ocean-based economy.
- Combating plastic pollution.
- Financing sustainable cities.
- Reducing disaster risk and building resilient infrastructure.
D. Multilateral Institutions for the 21st Century:
- Reinvigorating multilateralism.
- Reforming international financial institutions.
- Addressing global debt vulnerabilities.
E. Technological Transformation and Digital Public Infrastructure:
- Building digital public infrastructure.
- Ensuring safety, security, and resilience in the digital economy.
- Policy and regulation of crypto-assets.
- Exploring central bank digital currencies.
- Fostering digital ecosystems.
- Responsible harnessing of artificial intelligence (AI).
F. International Taxation:
G. Gender Equality and Empowering All Women and Girls:
- Enhancing economic and social empowerment.
- Bridging the gender digital divide.
- Driving gender-inclusive climate action.
- Ensuring women’s food security, nutrition, and well-being.
- Establishment of a working group on the empowerment of women.
H. Financial Sector Issues:
I. Countering Terrorism and Money Laundering:
J. Creating a More Inclusive World:
Leaders have expressed their commitment to addressing these critical global challenges in pursuit of a better, more sustainable future for all.
