NUNZIUM

The annual G20 summit, hosted by India on September 8, 2023, brought together the world's major economies to discuss a range of pressing issues, from climate change to economic development and the conflict in Ukraine. This event marked a significant milestone for India, being the largest diplomatic gathering it has hosted in four decades.

The G20, which comprises 19 countries and the European Union, serves as a critical platform for promoting international financial stability. The 2023 summit tested India's diplomatic prowess, particularly in managing the divergent views on the Ukraine conflict and the economic advancement of the Global South.

A notable outcome of the summit was the joint declaration by the G20 leaders. Although the statement recognized the situation in Ukraine and its economic repercussions, it did not explicitly condemn Russia's invasion. This marked a departure from the previous year's declaration and was seen as a compromise reflecting resistance from Russia and China, both G20 members.

While US President Joe Biden had aimed to rally support for Ukraine, the joint declaration was praised by US national security adviser Jake Sullivan as a significant achievement for India's chairmanship. However, the statement drew criticism from Ukraine's Foreign Ministry spokesperson Oleg Nikolenko due to its lack of reference to Russian "aggression" and Ukraine's absence from the summit.

In a move to enhance global connectivity, the summit announced plans for a major transit corridor linking Europe, the Middle East, and Asia. This initiative, endorsed by India, Saudi Arabia, the United Arab Emirates, and the European Union, aims to bolster trade, fortify supply chains, and potentially challenge China's Belt and Road initiative.

On the economic front, the G20 leaders committed to enabling low-cost financing for developing countries to transition to low emissions and to addressing the debt burden of these nations. The World Bank estimates that the world's poorest countries owe over $60bn annually to bilateral creditors, with China accounting for two-thirds of this debt.

Climate change was a central topic at the summit, with leaders pledging to triple global renewable energy capacity. The leaders unanimously agreed that the timelines for peaking greenhouse gas emissions would be influenced by sustainable development, poverty eradication needs, equity, and different national circumstances.

The G20 presidency was passed from India to Brazil, with Brazilian President Lula highlighting social inclusion, combating hunger, energy transition, and sustainable development as Brazil's G20 priorities.

In a strategic move, Indian Prime Minister Narendra Modi invited the African Union (AU) to become a permanent member of the G20. This, coupled with the new transit corridor and consensus on climate change, signals a shift in the G20's focus towards the Global South.

Despite the challenges and disagreements, the G20 summit 2023 demonstrated the power of diplomacy and dialogue. The joint declaration, while not meeting everyone's expectations, marked progress in addressing global issues. The summit also highlighted India's capacity to navigate intricate international dynamics, setting the stage for Brazil to continue the dialogue as the next G20 president in 2024.