Prime Minister Narendra Modi on Saturday said that G20 leaders have arrived at a consensus on the New Delhi Declaration, which addresses a wide array of critical global challenges. One key agreement that was struck was the Green Development Pact for a sustainable future.

According to the New Delhi Declaration, the well-being and prosperity of both current and future generations are intrinsically tied to the choices and actions we make today. The document states that this foundational understanding has prompted a collective commitment from the G20 leaders to pursue economic growth and development that is not only robust but also environmentally sustainable and inclusive, underscoring the urgency of integrating economic, environmental, and social considerations into development strategies.

Environmental crisis

At the heart of the New Delhi Declaration is a call to action on environmental crises, with a particular focus on the relentless challenge of climate change. The G20 leaders acknowledged the far-reaching impacts of climate change, affecting people across the globe, especially those in the most vulnerable and marginalised communities, including the Least Developed Countries (LDCs) and Small Island Developing States (SIDS), the declaration said.

The Paris Agreement

The declaration reaffirms the G20's steadfast commitment to the objectives of the Paris Agreement. In this regard, leaders emphasise the importance of the full and effective implementation of the Paris Agreement and its temperature goals.

However, it is a sobering acknowledgement that current global ambition and action fall short of what is needed to meet the temperature goals outlined in the Paris Agreement. The leaders express their concern that global efforts remain insufficient to limit the increase in global average temperature to well below 2°C above pre-industrial levels and aspire to restrict it to 1.5°C above pre-industrial levels. This requires robust action on all facets of the Paris Agreement, guided by the most up-to-date scientific knowledge.

The declaration urges all countries that have not already done so to revisit and strengthen their Nationally Determined Contributions (NDCs) by the end of 2023. NDCs, while nationally determined, play a pivotal role in achieving the collective global objective of the Paris Agreement. Developed countries are urged to lead the way with economy-wide absolute emission reduction targets, while developing countries are encouraged to enhance their mitigation efforts and move towards similar targets, considering their unique circumstances, it said.

Temperature target

The New Delhi Declaration reiterates the world's resolve to strive for the 1.5°C temperature target, recognising that this will necessitate profound and sustained reductions in global greenhouse gas emissions. A target of a 43 percent reduction by 2030, relative to 2019 levels, is identified as essential to achieving this goal. Importantly, the declaration notes that this reduction should not be seen as a one-size-fits-all requirement, as timeframes for peaking emissions may vary according to different national circumstances and priorities, including sustainable development and poverty eradication needs.

Role of technology and vision for the future

Moreover, the leaders acknowledge the critical role of technology development and transfer, capacity building, and financing in supporting countries' efforts to reduce emissions and adapt to the impacts of climate change.

In a vision for the future, the New Delhi Declaration affirms the collective commitment to achieving global net-zero greenhouse gas emissions, or carbon neutrality, by or around mid-century. However, this commitment comes with the caveat that it must align with the latest scientific developments and respect different national circumstances. To this end, the leaders recognise that various approaches, including the Circular Carbon Economy, socioeconomic considerations, technological advancements, and market development, are essential to promoting the most efficient solutions for achieving carbon neutrality.

The declaration draws attention to the critical role of macroeconomic stability in the face of climate change and the transition to a sustainable future. It acknowledges that the macroeconomic costs associated with the physical impacts of climate change are substantial and underscores the need for international dialogue and cooperation to address these challenges effectively. The leaders recognise that assessing the short-, medium-, and long-term macroeconomic impact of climate change and transition policies, including their effects on growth, inflation, and unemployment, is vital for informed policy-making.

While the New Delhi Declaration places climate change at its centre, it does not stop there. It addresses a spectrum of pressing issues, each deserving careful consideration. These include conserving, protecting, sustainably using, and restoring ecosystems; harnessing the potential of the ocean-based economy; tackling plastic pollution; financing the cities of tomorrow; reducing disaster risk; and building resilient infrastructure.

The leaders stress the importance of restoring at least 30 percent of all degraded ecosystems by 2030 and scaling up efforts to achieve land degradation neutrality. In a bid to preserve oceans, the declaration emphasises the need for international cooperation to conserve, protect, restore, and sustainably use the world's ocean and marine ecosystems. It recognises the role of marine ecosystems in mitigating climate change and supporting the livelihoods of countless communities. Importantly, it calls for an end to illegal, unreported, and unregulated (IUU) fishing, a practice that has strained marine resources for years.

To combat the menace of plastic pollution, the New Delhi Declaration endorses an Intergovernmental Negotiating Committee (INC) to develop an international legally binding instrument on plastic pollution, including its impact on the marine environment.

Furthermore, the leaders acknowledge the importance of reducing disaster risk and building resilient infrastructure. The creation of a Disaster Risk Reduction (DRR) Working Group, as noted by the United Nations General Assembly resolution 77/289, reflects the G20's commitment to accelerating progress in disaster risk reduction. Early warning systems, innovative financing tools, and private sector engagement are all recognised as crucial components of this effort.