Modi highlighted the work India is doing to cut down emissions, eliminate waste and to regenerate natural systems including the pursuit of cleaner sources of energy such as gas and renewables but emphasised that the support of sustainable technology and finance should be available to the developing world.
Research and innovation in sustainable technologies need to be stepped up with the spirit of cooperation and collaboration, the Prime Minister said at an event on “Safeguarding the planet” on the sidelines of the virtual G20 summit.
“The entire world can progress faster if there is greater support of technology and finance to the developing world,” Modi said. The Prime Minister also highlighted that individual was at the core of development. “For humanity to prosper, every single individual must prosper. Rather than seeing labour as a factor of production alone, the focus must be on the human dignity of every worker. Such an approach would be the best guarantee for safeguarding our planet,” Modi said.
The prime minister said that while the world is focused on saving people and economies from the impact of covid-19, “equally important is to keep the focus on fighting climate change.” The battle against climate change must be fought in an integrated, comprehensive and wholistic manner, he said.
“I am glad to share that India is not only meeting our Paris agreement targets but also exceeding them,” he said.
India is well on course to achieve 175 GW of energy from clean sources by 2022 and is now looking at a target of 450 GW by 2030, the prime minister said.
The International Solar Alliance set up by India and France “is among the fastest growing international Organisations in the world,” helping reduce the carbon footprint of member nations, he said.
The covid-19 pandemic and an uneven, uncertain global recovery were the two issues that leaders of the G20 summit focused on on the first day of a two-day summit under the chairmanship of Saudi Arabia, that centered on the theme “Realizing Opportunities of 21st Century for All.”
The Group of Twenty, or the G20, is the premier forum for international economic cooperation. It groups together the leaders of both developed and developing countries from every continent. Collectively, G20 members represent around 80% of the world’s economic output, two-thirds of global population and three-quarters of international trade. This is the second meeting of the G20 this year. A special summit was called in March Leaders of the Group of 20 or G20 major economies on Thursday pledged to infuse over $5 trillion into the global economy, and do “whatever it takes” to minimize the economic and social impact of the Covid-19 pandemic.
“Was honoured to address #G20 partners again on the 2nd day of the Virtual Summit hosted by Saudi Arabia.
Reiterated the importance of reforms in multilateral organizations to ensure better global governance for faster post-COVID recovery,” Modi later said in a Twitter post.
“Highlighted India’s efforts for inclusive development, especially women, through a participatory approach.
Emphasized that an Aatmanirbhar Bharat will be a strong pillar of a resilient post-COVID world economy and Global Value Chains,” he added in a second post.
On Saturday, the G20 leaders had promised to ensure a fair distribution of covid-19 vaccines and ensure support poorer countries struggling to recover from the coronavirus pandemic.
Modi in his speech on Saturday, had called for multi-skilling and reskilling the work force to help people cope with the aftermath of the covid-19 pandemic that has seen businesses close down leaving many without jobs across the world. The prime minister also called for greater transparency in governance systems, which he said will inspire citizens to deal with shared challenges and enhance their confidence.
Modi “called for a new global index for the post-corona world that comprises four key elements – creation of a vast talent pool; ensuring that technology reaches all segments of the society; transparency in systems of governance; and dealing with mother Earth with a spirit of trusteeship.”
“Based on this, the G20 can lay the foundation of a new world,” Modi said.
According to a Reuters report, a draft G20 joint communiqué said that the group would “spare no effort to ensure their affordable and equitable access for all people, consistent with members’ commitments to incentivize innovation.”
“We recognise the role of extensive immunization as a global public good,” it said according to Reuters.
On economic recovery, the leaders said that the global economy was starting to pick up but the recovery remained “uneven, highly uncertain and subject to elevated downside risks.”
They promised to continue to use all available policy tools as long as they were needed to safeguard lives, jobs and incomes, and encouraged the multilateral development banks to strengthen their efforts to help countries deal with the crisis, the Reuters report said.
The draft communiqué also calls on private creditors to join the debt servicing moratorium, which the G20 wants to extend until the middle of 2021 and possibly longer, and endorses a common framework for dealing with debt issues beyond that.
“There is a lack of participation from private creditors, and we strongly encourage them to participate on comparable terms when requested by eligible countries,” it said.
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