Source: TH
Context:
The G-20 Summit was held in Johannesburg, South Africa, for the first time in Africa. The event was notable for the U.S. boycott, even as leaders adopted a new G-20 declaration on climate change.
Key Highlights:
Modi’s Call to Reassess Global Growth Parameters
- PM Narendra Modi said current global growth models have deprived large populations of resources.
- He advocated for development aligned with “integral humanism”, balancing economic progress with environmental protection.
Australia–Canada–India Technology & Innovation (ACITI) Partnership
- Announced after a trilateral meeting with Australia’s PM Anthony Albanese and Canada’s PM Mark Carney.
- Aims to strengthen cooperation on:
- AI and critical technologies
- Clean energy innovation
- Resilient supply chains
- Described as collaboration among “democratic partners across three continents and three oceans.”
New G-20 Initiatives Proposed by India
- G-20–Africa Skills Multiplier Initiative
- India will train 1 million people across Africa in skills development.
- G-20 Global Healthcare Response Team
- A proposal for coordinated global health readiness and crisis response.
- G-20 Initiative on Countering the Drug-Terror Nexus
- To address linkages between narcotics, money laundering, and terror financing.
U.S. Boycott and Its Impact
- The U.S. did not send a leader, citing strained relations with South Africa.
- SA President Cyril Ramaphosa symbolically prepared to hand over the Presidency to an “empty chair”.
- A U.S. diplomat attended the meet; President Donald Trump plans to host the G-20 in 2026.
Climate Change Declaration
- Leaders adopted the G-20 Declaration on Climate Change.
- Stressed on:
- Strong global measures for climate mitigation
- Greater support for developing nations
- Rethinking development pathways in line with global equity
About G20
- Full Form: Group of 20 (G20)
- Type: Intergovernmental forum
- Members: 19 sovereign countries + European Union (EU) + African Union (AU)
- Purpose: Address major global issues including international financial stability, climate change mitigation, and sustainable development.
History & Formation
- Founded: 1999, in response to global economic crises of the late 1990s
- Inaugural Meeting: 15–16 December 1999, Berlin
- Key Founders:
- Canadian Finance Minister Paul Martin
- US Treasury Secretary Larry Summers
- German Finance Minister Hans Eichel
- Reason for Formation:
- To address financial instability exposed by crises in Mexico (1994–95), Asia (1997), Russia (1998), and the LTCM hedge fund collapse (1998)
- Expand representation beyond G7/G8 to include emerging economies
