G20 Summit declaration
By ANDALIB AKHTER
G-20 nations have expressed deep concern over the challenges posed to global food security exacerbated by current conflicts and tensions and expressed commitment to take urgent actions to save lives, prevent hunger and malnutrition.
In a declaration issued after the G-20 Summit in Bali, it said that it is a critical moment for the global economy, it added that it is essential that the G20 undertakes tangible, precise, swift and necessary actions using all available policy tools to address common challenges.
The member nations called for an accelerated transformation towards sustainable and resilient agriculture and food systems and supply chains. The declaration expressed commitment to protect the most vulnerable from hunger by using all available tools to address the global food crisis. It said they will take further coordinated actions to address food security challenges including price surges and shortage of food commodities and fertilizers globally. The member nations also extended support to the international efforts to keep food supply chains functioning under challenging circumstances.
Russia- Ukraine conflict,
Referring to the Russia- Ukraine conflict, the declaration said it has adversely impacted the global economy. It added that most members stressed that the conflict is causing immense human suffering and exacerbating existing fragilities in the global economy – constraining growth, increasing inflation, disrupting supply chains, heightening energy and food insecurity, and elevating financial stability risks. It added that it is essential to uphold international law and multilateral system that safeguards peace and stability.
Climate Change *
G20 leaders agreed to pursue efforts to limit the global temperature increase to 1.5C – confirming the stand by the temperature goal from the 2015 Paris Agreement on climate change. That could boost negotiations at the UN COP27 climate summit in Egypt, where some negotiators feared the G20 would fail to back the 1.5C goal – potentially thwarting a deal on it among the nearly 200 countries at the UN talks.
Declaration also said G20 countries would accelerate efforts towards the phasedown of unabated coal power. Negotiators at the COP27 summit in Egypt are wrangling over whether to expand this to phase down all fossil fuels.