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WHAT IS THE G20?
Founded at the turn of the 21st century, the G20 are a collective group of the world’s largest and industrialized economies that discuss and coordinate international, macroeconomic policies. In response to the global economic crisis of 2008, the G20 has organized annual summits, whose priorities and themes of development are chosen by the host country. Summit hosts rotate every year. Non-hosting countries participate in the summit by using it as a platform to discuss and endorse commitments. On top of that, eleven engagement groups composed of non-government members from each host group participate in drafting policies based on their sector of advocacy.
This year’s summit was hosted by India, whose chosen theme was वसुधैव कुटुम्बकम्, transliterated in English as “One Earth, One Family, One Future”. The next G20 summit will be hosted by Brazil.
SIX PRIORITIES
Based on the theme, India’s G20 six priorities revolved around the pedagogy of systems thinking, in hopes that each member would approach discussions with a holistic viewpoint. The priorities are as followed:
1. STRONG, SUSTAINABLE, INCLUSIVE GROWTH
Acknowledging the current financial crises, such as the cost-of-living and the economic consequences of the COVID-19 pandemic, the current aim is to adopt an adaptable method to policy-making while monitoring any systemic risks in the financial system. The main goal is to ensure economic stability and to offer support to lower-income groups, such as addressing any labour skill gaps.
With regards to economic growth, micro-, small-, and medium-sized enterprises (MSMES) may eventually be able to consistently participate in global trade by gaining access to electronic waybills, which are the documents that contain information that allows for shipments to be released from customs. By shifting to digitization, MSMES will be able to trade with less uncertainty about delays or hold ups and will have the ability to create jobs.
2. PROGRESS ON SUSTAINABLE DEVELOPMENT GOALS (SDGS)
Cooperation between the Finance and Health ministries is expected in order to counter public health risks while also monitoring the economic side-effects, particularly in a world where many still suffer from COVID-19 and its long-term effects.
Other commitments include addressing global hunger via strengthening sustainable and equitable agriculture systems through biotechnology research, equalizing the high-skill/low-skill job market by providing accessible training for marginalized groups, and maintaining cultural sovereignty as countries work towards the SDGs.
3. GREEN DEVELOPMENT PACT
Cooperation between the Finance and Health ministries is expected in order to facilitate public health risks while also monitoring the economic side-effects, particularly in a world where many still suffer from COVID-19 and its long-term effects.
The Paris Agreement, signed by 195 members of the United Nations to ensure each country maintains steady progress towards reaching net-zero emissions, was reaffirmed once more with the acknowledgement that the current progress of limiting global emissions is insufficient.
4. MULTILATERAL INSTITUTIONS
Multilateral institutions – in which several governing powers work together – are emphasized as pivotal to addressing global debt. The key idea is to provide support to low and middle income countries in order to foster their economic development while also allowing them agency in global policy-making.
5. DIGITAL PUBLIC INFRASTRUCTURE (DPI)
Digital public infrastructure is defined as a framework intended to provide individuals a digital identity and a way to exchange money or personal information while also maintaining ethical standards on data privacy. It's hard to conceptualize, but think of the Rogers outage in the summer of 2022. That's an example of a DPI failing, where many Canadians were unable to access the Internet or exchange payments. The summit reaffirmed that DPIs are not only crucial in the modern economy but also in its ability to address issues such as poverty, public health and social inequality.
Other addressed concerns were developing cryptocurrency regulations and codifying responsible A.I. usage.
6. GENDER EQUALITY, FEMALE EMPOWERMENT
To achieve the sustainable development goals, the Leaders' Declaration stated that providing opportunities for women to engage in "all spheres of society, across all sectors and at all levels of the economy" would be needed. Commitment to female empowerment includes providing access to education at a young age, closing the wage gap, condemning misogyny in all forms and encouraging digital, financial independence.
THE G20 + 1
Since its inception in 1999, the G20 has always consisted of the same, fixed twenty members in order to maintain the cohesiveness and continuity of the forum. Criticism has been previously leveled at the G20 for being primarily dominated by G7 voices and for having no formal membership requirements which perpetuates exclusivity. Though there are invited guests, such as an ASEAN representative and Spain, critics have also questioned the legitimacy of the invitations. In an unprecedented move, this year’s summit saw the addition of the African Union, similar to the European Union, in hopes to bring more representation of the Global South to the tables of the G20 conference. Prior to this, only South Africa held membership.
The implications for this addition ensures that the discussed global issues will also be tackled from the non-Eurocentric perspective of the marginalized and will be properly implemented in accordance with the lived experiences of the Global South.
WAR ON UKRAINE
The consensus declaration titled “G20 New Delhi Leaders’ Declaration” addressed the ongoing Russian invasion of Ukraine by lightly reaffirming the UN’s stance on the war. Key excerpts from the document includes:
“Concerning the war in Ukraine, we reiterated our national positions and resolutions adopted at the UN Security Council and the UN General Assembly… all states must refrain from the threat or use of force to seek territorial acquisition against the territorial integrity and sovereignty or political independence of any state.”
No outright condemnation of Russia’s actions were said, unlike last year’s G20 summit in Indonesia where the West called for economic sanctions against Russia amidst the other members who opted to stay neutral.
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