In News

G-20 summit that took place in Germany’s Hamburg city ended with the leaders proposing the Hamburg Action Plan to address major global challenges, including climate change, harnessing digitalisation, and to contribute to prosperity and well-being.

Outcome of the summit

Common goal of the G-20 as forum for international economic cooperation. Leaders pledged to progress towards their joint objective in the G20, which is strong, sustainable, balanced and inclusive growth.

Common challenges to the global community :  Including terrorism, displacement, poverty, hunger and health threats, job creation, climate change, energy security, and inequality including gender inequality, as a basis for sustainable development and stability.

• On Climate Change : Members also agreed that the Paris Agreement is irreversible reiterated the importance of fulfilling the UNFCCC commitment by developed countries in providing means of implementation including financial resources to assist developing countries with respect to both mitigation and adaptation actions in line with Paris outcomes.
• On Globalisation : Stressed on the importance of harnessing the benefits of globalisation, reaffirm the importance of transparency for predictable and mutually beneficial trade relations, harness digitalisation to achieve the goals of the 2030 Agenda for Sustainable Development.
• Employment : Underlined to boost employment by improving global supply chains, which have been recognised as an important source of job creation and balanced economic growth.
• Financial Stability : Work to finalise the Basel III framework without further significantly increasing overall capital requirements across the banking sector
• On Public Health : G-20 leaders also called for safeguarding against health crises and strengthening health systems. Combatting Anti-Microbial Resistance (AMR), which is a growing threat to public health, aim to have implementation of our National Action Plans, based on a One-Health approach
• On corruption : The leader in the G-20 Summit also remained committed to fighting corruption, including through practical international cooperation and technical assistance, and will continue to fully implement the G-20 Anti-Corruption Action Plan 2017-18.

Source : DNA

GS II : Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests