Energy, Technology & Women Empowerment in the list, PM Modi to chair virtual G20 Summit

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New Delhi: India is all set to host the virtual G20 Leaders’ Summit on Wednesday evening, under the leadership of Prime Minister Narendra Modi. The summit is bringing together leaders from all G20 member countries, the Chair of the African Union, nine guest countries, and heads of 11 international organisations.

The decision to host the summit was announced by Prime Minister Modi on September 10 during the closing ceremony of the G20 Summit. This virtual summit will address key issues, review developments since the New Delhi G20 Summit in September, and the achievements of select outcomes.

Following the G20 Leaders’ Summit in the national capital on September 9-10, significant progress has been made on key priorities, including the commitment to triple global renewable energy capacity and double the rate of energy efficiency improvement by 2030.

The recent US-China Joint Statement on November 14 encouraged support towards these goals and outlined plans for both countries to undertake five large Carbon Capture, Usage, and Storage (CCUS) projects to reduce CO2 emissions from major sources like power plants, refineries, and other industrial sites.

India’s G20 Presidency achieved a significant milestone through its advocacy, leading to the Global Initiative on Digital Health (GIDH) securing a commitment of USD 44.5 million. In alignment with G20 AI Principles (2019), UNESCO’s Ethical AI Guidelines, and India’s Responsible “AI for All” Principle, the Ministry of Electronics and Information Technology (MeitY) has commenced the development of a framework.

Moreover, MeitY has initiated the co-design process for the One Future Alliance (OFA) for Digital Public Infrastructure (DPI) in collaboration with interested countries, including the UK, France, US, EU, Brazil, Canada, and Italy.

At the 4th meeting of Finance Ministers and Central Bank Governors (FMCBG) in October this year, the G20 Finance Ministers welcomed and embraced Volume 2 of the report from the Independent Expert Group on the Strengthening of Multilateral Development Banks (MDBs).

Subsequently, on November 7, the IMF Executive Board put forth a proposal for a quota increase to the Board of Governors. In parallel, efforts are underway to advance an action plan focused on Sustainable Development Goals (SDGs).

The 2023 G20 New Delhi Update, an annual report finalised on November 13 this year, provides a comprehensive overview of the G20’s progress toward achieving Sustainable Development Goals and highlights the Indian Presidency’s contributions. The Principles on Lifestyles for Sustainable Development (LiFE) are actively being disseminated through international forums like COP 28 and are reaching the youth through the IEA.

Noteworthy achievements also include efforts to promote women’s leadership at all levels, facilitated by a mentorship platform. This platform, aimed at enhancing access to mentorship and capacity-building, was initiated by the Ministry of Women & Child Development (M/WCD) and is set to be hosted by NITI.

TechEquity, a digital inclusion platform for women, was launched during India’s Presidency to address the gender digital divide. Currently in progress under the Ministry of Women & Child Development (M/WCD), the platform aims to compile top-notch self-learning courses on digital literacy, financial literacy, tech skill development, and core skill enhancement from G20 nations and invited guest countries.

G20 Sherpa Amitabh Kant has confirmed that the Virtual G20 Summit, chaired by PM Modi, will leverage the guidance provided by participating world leaders to catalyse the implementation of the Summit’s outcomes. The G20 Leaders’ Summit, scheduled for today from 5:30 pm onwards, anticipates a major gathering of global leaders.

During a recent press briefing on the Virtual G20 Leaders’ Summit, G20 Sherpa said, “The virtual summit of the G20 being held tomorrow will also 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.”