PM Narendra Modi today hands over the G20 presidency to Brazil's Luiz Inacio Lula da Silva
Marking the ceremonial transfer of the G20 presidency, Prime Minister Narendra Modi today handed over the gavel to Brazilian President Luiz Inacio Lula da Silva, who praised India for giving voice to topics of interests of emerging economies.
Here are 10 points about this big story:
"Yesterday, we had wide-ranging discussions in the 'One Earth, One Family' sessions. I am satisfied that today the G20 has become a platform for optimistic efforts regarding the vision of One Earth, One Family, One Future," PM Modi said in his closing remarks today.
Lula da Silva congratulated PM Modi, and listed social inclusion, the fight against hunger, energy transition and sustainable development as G20 priorities. He said the UN Security Council needs new developing countries as permanent, non-permanent members to regain political strength. "We want greater representation for emerging countries at the World Bank and the IMF," he said.
The big takeaway of the Summit were a call to end the "global trust deficit", the launch of the Global Biofuel Alliance, and the launch of new connectivity networks between the US, India, Saudi Arabia, and Gulf states.
The G20 members unanimously adopted the Delhi Declaration, which called on nations to uphold territorial integrity and international humanitarian law to safeguard peace and stability.
"We call on all states to uphold the principles of international law including territorial integrity and sovereignty, international humanitarian law, and the multilateral system that safeguards peace and stability," the declaration said.
China and Russia, whose heads of state skipped the Summit, were also in agreement with the Delhi declaration. But while the declaration called on all states to not use force to grab territory, it avoided condemning Russia for the war in Ukraine. Ukraine's foreign ministry said the declaration was "nothing to be proud of", adding that a Ukrainian presence would have given participants a better understanding of the situation.
The bloc also said that they will aim to triple global renewable energy capacity by 2030 and expedite efforts to phase down coal power in line with national circumstances but did not commit to a phase-out of all polluting fossil fuels, including oil and gas.
The bloc, which represents 85 per cent of the world's GDP and contributes 80 per cent of emissions, however, said it will uphold its 2009 promise made in Pittsburgh to eliminate and rationalise inefficient fossil fuel subsidies.
The African Union was inducted as the new permanent member of G20, pushing forward a new world order and offering developing nations a greater say in global decision-making.
Ahead of the sessions today, the delegates visited and paid homage to Mahatma Gandhi at his memorial Rajghat in Delhi. Foreign Minister S Jaishankar and G20 Sherpa Amitabh Kant will address the media at 2 pm today, after the conclusion of all scheduled discussions.
