The G20 Leader’s Declaration put emphasis on multilateral cooperation amid geopolitical and economic divide
Prime Minister Narendra Modi pushed for the creation of the Critical Minerals Circularity Initiative which will foster recycling, urban mining, second-life battery projects, and related innovations at the two-day G20 Leader’s Declaration event.
India also called for greater collective action on the climate agenda to strengthen global food security, highlighting the Deccan Principles on Food Security adopted during India’s G20 Presidency. The G20 Summit in South Africa is considered a victory for the host nation and the African continent. The Leaders’ Declaration was adopted on the first day despite the US’ absence and without any objections.
The G20 Leader’s Declaration held under the theme “Solidarity, Equality, and Sustainability” and put emphasis on multilateral cooperation amid geopolitical and economic divide. Argentina was also with the US and did not support the Leaders’ Declaration but “remains fully committed to the spirit of cooperation that has defined the G20 since its inception”.
Dr. Mohan Kumar Professor & Dean, Strategic and International Initiatives, OP Jindal Global University, Former Indian Ambassador to Bahrain and France said, “The fact that the US is absent has not pushed G20 into irrelevance. There is a collective will outside of the US that multilateralism matters and institutions like G20 matter. G20 is alive and kicking, despite the conspicuous absence of the US as well as Argentina.”
At the summit South Africa laid emphasis on the Global South’s priorities such as debt reform and reaffirming the impact of climate change and the need for climate finance to be ramped up from billions to trillions. This will ensure the commitments made through the Paris Agreement remain aligned and developing countries who are most vulnerable to the effects of climate change are not shouldering the entire financial burden themselves.
Bilateral Agreements with Canada and South Africa for Critical Technology
India also signed a bilateral trade agreement with Canada at the sidelines of the event in the fields of critical technologies, nuclear energy, diversification of supply chains and AI. PM Modi also discussed bilateral ties and ways to enhance cooperation in the fields of AI, Digital Public Infrastructure and critical minerals with South African President Cyril Ramaphosa.
The PM at the summit said the country’s priorities were clear and it is time to look at the new parameters of development, one which addressed the imbalance of growth and overexploitation of nature, particularly when the G20 Summit was being held for the first time in Africa.
“The G20 Critical Minerals Framework is also special for admitting that developing countries have long been stuck in raw-material extraction with little beneficiation, and this must change,” said Trishant Dev, Deputy Programme Manager, Centre for Science and Environment (CSE). “In relation to the COP30 outcome in Belém, the G20’s language on unilateral climate measures, reiterating Article 3.5 of the UNFCCC, points to an important and emerging concern about the evolving link between climate policy and trade, a dynamic that is already tilting against developing countries.”
Article 3.5 of the UNFCCC states that the parties should cooperate to promote a supportive and open international economic system that would lead to sustainable economic growth and development of all the parties, particularly developing countries, enabling them to better address the problems of climate change.
About The Author
