Highlights of G20 New Delhi Leaders’ Declaration: Ukraine War, financial markets, climate change and more

THEY MUST REFRAIN from threat or use of force to seek territorial acquisition against territorial integrity and sovereignty or political independence of any state; also from use or threat of use of nuclear weapons is inadmissible.

PEACEFUL RESOLUTION of conflicts, and efforts to address crises as well as diplomacy and dialogue are critical.

An exhibition displaying destroyed Russian military vehicles located on the main street Khreshchatyk as part of the upcoming celebration of the Independence Day of Ukraine, amid Russia’s invasion, in central Kyiv, Ukraine August 21, 2023. (REUTERS/Gleb Garanich/File Photo)

“THERE WERE different views and assessments of the situation.”

“TODAY’S ERA must not be of war.”

ON GRAIN/FOOD/ENERGY SECURITY

CALLS ON Russia and Ukraine to ensure immediate and unimpeded deliveries of grain, foodstuffs, and fertilizers/inputs from Russia and Ukraine.

EMPHASISING importance of sustaining food and energy security, called for cessation of military destruction or other attacks on relevant infrastructure.

POTENTIAL FOR high levels of volatility in food and energy markets remains.

The G20 New Delhi Leaders’ Declaration called for immediate and unimpeded deliveries of grain, foodstuffs, and fertilizers/inputs from the Russian Federation and Ukraine. On Sept 4, Turkish President Tayyip Erdogan and his Russian counterpart Vladimir Putin regarding the issue and discussed the Black Sea grain deal. (Murat Cetinmuhurdar/Turkish Presidential Press Office/Handout via REUTERS)

ON ECONOMIES & FINANCIAL MARKETS

“WILL PROTECT the vulnerable, through equitable growth and enhancing macroeconomic and financial stability.”

REAFFIRM April 2021 exchange rate commitment made by G20 finance ministers and central bank governors.

ENDORSE financial stability board’s high-level recommendations for regulation, supervision and oversight of crypto-assets, activities.

FINANCE MINISTERS and central bank governors will discuss taking forward the cryptocurrency roadmap at their meeting in October.

RENEW our commitment to ensure a level-playing field and fair competition by discouraging protectionism, market distorting practices.

G20 India Summit deliverables by Express Web on Scribd

ON CLIMATE CHANGE

NEED TO ACCELERATE efforts to phase down unabated coal power, in line with national circumstances.

WILL WORK towards facilitating low-cost financing for developing countries to support their transition to low carbon.

WILL PURSUE and encourage efforts to triple renewable energy capacity globally through existing targets and policies, in line with national circumstances by 2030.

REITERATE our commitment to take action to scale up sustainable finance.

REITERATE use of carbon pricing and non-pricing mechanisms and incentives toward carbon neutrality and net zero.

RECOGNISE need for increased global investments to meet our climate goals of the Paris agreement.

NOTE NEED OF $5.8-5.9 trillion in pre-2030 period required for developing countries, in particular for their needs to implement their emission targets.

CALLS ON parties to set an ambitious, transparent, and trackable New Collective Quantified Goal of climate finance in 2024, from a floor of $100 billion a year.

ON GLOBAL DEBT VULNERABILITIES

COMMIT TO promoting resilient growth by urgently and effectively addressing debt vulnerabilities in developing countries.

CALL FOR swift conclusion of the debt treatment for Ethiopia.

ON HEALTH

REMAIN COMMITTED to strengthening global health architecture.

WILL ENHANCE resilience of health systems and support development of climate-resilient and low-carbon health systems in collaboration with multilateral banks.