The New Delhi Declaration

The New Delhi Declaration

News: The G20 has adopted a consensus declaration signalling that negotiators had resolved their differences over the wording on the war in Ukraine.

What does the New Delhi Declaration say?

On Ukraine War
• ALL STATES must act in a manner consistent with purposes and principles of UN charter in its entirety.
• THEY MUST REFRAIN from threat or use of force to seek territorial acquisition against territorial integrity and sovereignty or political independence of any state; also from use or threat of use of nuclear weapons is inadmissible.
• “TODAY’S ERA must not be of war.”

On Grain/Food/Energy Security
• It calls on Russia and Ukraine to ensure immediate and unimpeded deliveries of grain, foodstuffs, and fertilizers/inputs from Russiaand Ukraine.

On Economies and Financial markets
• “It will protect the vulnerable, through equitable growth and enhancing macroeconomic and financial stability.”
• Finance Ministers and central bank governors will discuss taking forward the cryptocurrency roadmap at their meeting in October.

On Climate Change
• There is need to accelerate efforts to phase down unabated coal power, in line with national circumstances.
• REITERATE use of carbon pricing and non-pricing mechanisms and incentives toward carbon neutrality and net zero.
• NOTE NEED OF $5.8-5.9 trillion in pre-2030 period required for developing countries, in particular for their needs to implement their emission targets.
• CALLS ON parties to set an ambitious, transparent, and trackable New Collective Quantified Goal of climate finance in 2024, from a floor of $100 billion a year.

On Global Debt Vulnerabilities
• COMMIT TO promoting resilient growth by urgently and effectively addressing debt vulnerabilities in developing countries.
• CALL FOR swift conclusion of the debt treatment for Ethiopia.

On Health
• To enhance resilience of health systems and support development of climate-resilient and low-carbon health systems in collaboration with multilateral banks.

On Terrorism
• The 2023 New Delhi Declaration builds upon previous G20 declarations, especially the 2015 Turkiye declaration, which strongly denounced terrorism. Unlike the 2022 G20 Bali Leaders Declaration, which primarily focused on the financing of terrorism and the strengthening of the Financial Action Task Force (FATF), the New Delhi Declaration encompasses a wider range of concerns.
• The G20 leaders, in the New Delhi Declaration, clearly condemn terrorism in all its forms and manifestations.

Significance of the Declaration:
• Despite several challenges such as global economic turbulence, tensions with China, and the Ukraine conflict, India was able to secure a consensus on the Joint Communique.
• The G20 Summit held by Indian presidency is reflective of its strong diplomacy, bringing every G20 member on board at one place and also for the inclusion of African Union in the G20 Grouping.

What are the outcomes of G20 Summit?
• Inclusion of African Union (AU) as a permanent G20 member.
• Launch of India-Middle East-Europe Corridor
• Launch of Global Biofuel Alliance (GBA)
• Launch of One Future Alliance and Creation of a Global Digital Public Infrastructure Repository
• Progress on climate change - The G20 leaders agreed to pursue tripling renewable energy capacity globally by 2030 and accepted the need to phase-down unabated coal power.