By: Aubaid Ahmad Akhoon
The G20 (Group of Twenty) serves as a remarkable global forum, encompassing the world’s largest economies, which collectively represent around 85% of global GDP and two-thirds of the world’s population. Since its establishment in 1999, the G20 has played a pivotal role in promoting international financial stability and fostering economic growth. Its membership comprises 19 countries, along with the inclusion of the European Union.
Yearly, the G20 holds summits that gather the leaders of its member countries to engage in discussions and coordinate policies on a broad range of global economic and financial matters. Recent G20 summits have tackled critical topics such as financial regulation, international trade, energy and climate change, development, as well as labor and employment.
Beyond the annual summits, the G20 operates through several working groups and committees that focus on specific issues. Examples include the Global Financial Stability Board (FSB), the International Monetary Fund (IMF), and the World Bank.
Overall, the G20 assumes a crucial role in shaping the global economic and financial agenda while fostering international cooperation to address the pressing issues facing the world today.
Under India’s presidency, the G20 summit takes on added significance as a pivotal step towards addressing the existential threat of climate change and finding sustainable solutions. India’s motto, “One Earth, One Family, One Future,” underscores the need for global cooperation and solidarity in confronting this pressing issue.
Prime Minister Narendra Modi aptly stated, “The future belongs to those who build it.”According to Antonio Guterres, Secretary-General of the United Nations:”Climate change is the defining challenge of our time and requires a global response.”
India’s unwavering commitment to a low-carbon development strategy and its rapid shift towards renewable energy has established the nation as a leader in the transition to a more sustainable future. With its energy demand projected to double by 2040, India is actively pursuing universal electrification, enhancing energy efficiency, and promoting conservation. A testament to this commitment, India’s parliament has passed the Energy Conservation (Amendment) Bill, 2022, which seeks to increase energy efficiency and reduce greenhouse gas emissions.
Apart from its domestic efforts, India has been providing technical and financial assistance to other countries, particularly those in the Global South, to support their transition towards a low-carbon and sustainable future. Initiatives such as the International Solar Alliance (ISA) and the Coalition for Disaster Resilient Infrastructure (CDRI) have been launched by India to promote renewable energy adoption and the construction of disaster-resilient infrastructure.
India’s G20 presidency, with the main destination being Kashmir, represents a significant opportunity for the region to showcase its efforts and achievements in addressing climate change and promoting sustainable development. Hosting the G20 summit in Kashmir can have a positive impact on the region’s economy, tourism, and overall development. It provides a platform for Kashmir to highlight its potential as a destination for sustainable tourism and investment, while also raising awareness about the environmental challenges faced by the region.
Moreover, the G20 summit offers the world a chance to come together and collaborate in finding inclusive, meaningful, and sustainable solutions. By hosting the summit in Kashmir, India can draw attention to the importance of preserving and protecting the natural beauty and resources of the region.
According to former Secretary-General of the United Nations, Ban Ki-moon-“We cannot solve global challenges unless we solve them together.”
Bottom Line: The G20 summit under India’s presidency, hosted in Kashmir, marks a critical milestone in the global fight against climate change and the promotion of sustainable development. India’s unwavering commitment to low-carbon development, leadership in renewable energy adoption, and efforts to provide assistance to other nations exemplify its dedication to finding meaningful and sustainable solutions. Let us unite and work together to build a brighter and greener future for all.
The writer is a motivational speaker and an Associate Editor of the weekly publication ‘Education Quill.’ He currently serves as the Senior EDP Head at DD Target PMT Kashmir.
