The G20 logo is displayed before the G20 Summit on September 8, 2023 in New Delhi, India. REUTERS/Anushree Fadnavis acquires license rights
Sept 9 (Reuters) – The G20 has adopted a consensus statement on the problems facing the bloc, Indian Prime Minister Narendra Modi announced on Saturday during a summit, signaling that negotiators have deep disagreements over the wording of the war in Ukraine.
Below are excerpts from the statement.
UKRAINE
– Regarding the war in Ukraine, all States must act in accordance with the purposes and principles of the UN Charter as a whole
– In the event of war in Ukraine, all states must refrain from the threat or use of force to seek the acquisition of territory against the territorial integrity and sovereignty or political independence of a state
– In the war in Ukraine, the use or threat of use of nuclear weapons is inadmissible
– Regarding the Ukraine crisis, “there were different views and assessments of the situation”
– Peaceful resolution of conflicts and crisis management efforts, as well as diplomacy and dialogue are crucial
– “The current era must not be marked by war.”
GRAIN/FOOD/ENERGY SAFETY
– Call on Russia and Ukraine to ensure immediate and unhindered deliveries of grain, food and fertilizers/inputs from Russia and Ukraine
– Stresses the importance of maintaining food and energy security and calls for a cessation of military destruction or other attacks on relevant infrastructure
– There remains potential for high volatility in the food and energy markets
ECONOMIES AND FINANCIAL MARKETS
– “Will protect the vulnerable by promoting equitable growth and strengthening macroeconomic and financial stability.”
– Confirm the April 2021 exchange rate commitment from our Finance Ministers and Central Bank Governors
– We support the Financial Stability Board’s high-level recommendations on the regulation, supervision and monitoring of crypto assets and activities
– Our finance ministers and central bank governors will discuss the further development of the cryptocurrency roadmap at their meeting in October
– Renew our commitment to ensuring a level playing field and fair competition by eliminating protectionism and market-distorting practices
CLIMATE CHANGE
– The need to accelerate efforts to ensure a full phase-out of coal energy in line with national circumstances
– We will work towards enabling low-cost financing for developing countries to support their transition to a low-carbon/low-emissions economy
– We will pursue and promote efforts to triple global renewable energy capacity by 2030 through existing targets and policies in line with national circumstances
– Reaffirm our commitment to take action to expand sustainable finance
– We recognize the need for increased global investment to achieve our Paris Agreement climate goals
– Note that developing countries will need $5.8 to $5.9 trillion in the period before 2030, particularly to meet their emissions targets
Compiled by Kim Coghill, Global News Desk, Singapore
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