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Tag: G20 summit

  • Group of 20 countries agree to increase clean energy but reach no deal on phasing out fossil fuels

    Group of 20 countries agree to increase clean energy but reach no deal on phasing out fossil fuels

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    NEW DELHI — Group of 20 leaders agreed Saturday to triple renewable energy and try to increase the funds for climate change-related disasters but maintained the status quo with regards to phasing out carbon spewing coal.

    At a news conference shortly after the G20 leaders — whose countries also emit 80% of all planet-warming gases — announced the agreement, Amitabh Kant, a senior Indian government official leading some of the G20 negotiations, called it “probably the most vibrant, dynamic and ambitious document on climate action.”

    While most climate and energy experts were not as ebullient, they agreed that the G20 leaders had put out a strong message on climate action, even as the world is seeing increasingly frequent natural disasters such as extreme heat.

    Even at the last meeting of the G20 climate ministers before the summit, disagreements had remained.

    Global leaders and climate experts say the declaration had largely taken the conversation forward, setting the stage for an ambitious climate agreement when they meet at the global climate conference, COP28, in Dubai later this year.

    “These 20 countries account for 80% of global emissions, so this declaration sends a powerful signal for climate progress,” said Sultan al-Jaber, who will preside over the climate summit in Dubai.

    Some climate activists said more could be done.

    “While the G20’s commitment to renewable energy targets is commendable, it sidesteps the root cause — our global dependency on fossil fuels,” said Harjeet Singh of Climate Action Network International.

    According to a report by Global Energy Monitor, an organization that tracks a variety of energy projects around the world, the G20 countries are home to 93% of global operating coal power plants and 88% of new proposed coal power plants that don’t have carbon capture technologies.

    “It’s high time for rich nations in this group to lead by example, turn their promises into actions, and help forge a greener, more equitable future for all,” said Singh, who has tracked international climate negotiations for over two decades.

    For the first time, the G20 countries agreed on the amounts required to shift to clean energy. The document states that $5.9 trillion is need up to 2030 by developing countries to meet their climate goals. An additional $4 trillion will be needed every year until the end of the decade if developing countries are to reach net zero emissions by 2050, it said.

    “This G20 has seen many firsts,” said Madhura Joshi, a Mumbai-based energy analyst with the climate think tank E3G. “However, it’s disappointing that the G20 could not agree on phasing down fossil fuels.”

    “Increasing renewables and reducing fossil fuels need to necessarily happen together – we need stronger bolder action from leaders on both. All eyes now on COP28 – can the leaders deliver?” she said.

    ___

    Associated Press climate and environmental coverage receives support from several private foundations. See more about AP’s climate initiative here. The AP is solely responsible for all content.

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  • Biden, Modi and G20 allies unveil rail and shipping project linking India to Middle East and Europe

    Biden, Modi and G20 allies unveil rail and shipping project linking India to Middle East and Europe

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    NEW DELHI — NEW DELHI (AP) — President Joe Biden and his allies on Saturday announced plans to build a rail and shipping corridor linking India with the Middle East and Europe, an ambitious project aimed at fostering economic growth and political cooperation.

    “This is a big deal,” said Biden. “This is a really big deal.”

    The corridor, outlined at the annual Group of 20 summit of the world’s top economies, would help boost trade, deliver energy resources and improve digital connectivity. It would include India, Saudi Arabia, the United Arab Emirates, Jordan, Israel and the European Union, said Jake Sullivan, Biden’s national security adviser.

    Sullivan said the network reflected Biden’s vision for “far reaching investments” that come from “effective American leadership” and a willingness to embrace other nations as partners. He said the enhanced infrastructure would boost economic growth, help bring countries in the Middle East together and establish that region as a hub for economic activity instead of as a “source of challenge, conflict or crisis” as it has been in recent history.

    Indian Prime Minister Narendra Modi, European Commission President Ursula von der Leyen and other leaders from around the world participated in the announcement.

    “Enhancing connectivity with all regions has been a key priority for India,” said Modi, speaking through a translator. “We believe that connectivity is a means to not only increase mutual trade between different countries but also increase mutual trust.”

    The rail and shipping corridor would help physically tie together a vast stretch of the globe, improving digital connectivity and enabling more trade among countries, including with energy products such as hydrogen. Although White House officials did not set a timeline for its completion, the corridor would provide a physical and ideological alternative to China’s own nation-spanning infrastructure program.

    The White House gave no details on the project’s cost or financing, though Saudi Arabia’s Crown Prince Mohammed bin Salman mentioned a figure of $20 billion during the announcement. It was unclear if that sum applied solely to the Saudi commitment.

    Von der Leyen described the project as a “green and digital bridge across continents and civilizations.” She added that it includes cables to transmit electricity and data.

    She also announced a “Trans-African Corridor” connecting the Angolan port of Lobito with landlocked areas of the continent: the Kananga province in the Democratic Republic of Congo and the copper-mining regions of Zambia.

    Speaking of the African project, Biden called it a “game changing regional investment” and said “both of these are huge, huge steps forward.”

    Amos Hochstein, Biden’s coordinator for global infrastructure and energy security, laid out a rough timeline for the project over the next year.

    In the next 60 days, working groups will put together a fuller plan and set timelines. The first phase will involve identifying the areas that need investment and where physical infrastructure can be connected between countries. Hochstein said the plans can be put into place over the next year so that the project can move onto setting up finances and construction.

    Sullivan said the project started coming together after Biden visited Jeddah, Saudi Arabia, in July 2022, where he emphasized a need for greater regional economic integration.

    In January, the White House started having conversations with regional partners about the concept. By spring, maps and written assessments of existing rail infrastructure in the Middle East were being drafted. Sullivan, and senior White House aides Hochstein and Brett McGurk, traveled to Saudi Arabia in May to meet with their Indian, Saudi and UAE counterparts.

    All sides have worked since then to finalize details of the agreement announced Saturday.

    The parties also brought Israel and Jordan into the project. Saudi Arabia and Israel do not have diplomatic relations, though the White House has been pushing them toward normalizing relations.

    Sullivan said the transportation project is not seen as a “precursor” to a potential normalization deal but he characterized Israel’s inclusion as “significant.”

    “The participants in this effort are focused on practical outcomes that deliver for their people,” Sullivan said. “And a corridor of this kind by dint of geography works best having Israel in as opposed to out and the countries participating prioritized that.”

    Biden participated in both G20 sessions on Saturday. He highlighted plans to push for more investments to address climate change, such as his own domestic incentives to encourage the use of renewable energy. He also argued that Russia’s war in Ukraine is hurting many other nations, which have had to cope with greater food and energy costs as well as higher interest rate costs on their debt.

    Ukraine President Volodymyr Zelenskyy, who has been a regular presence at international summits, including last year’s G20 in Indonesia, since Russia invaded his country more than 18 months ago, was not invited by Modi’s government to this year’s gathering.

    Zelenskyy has the used the high-profile gatherings to argue for continued economic and military support for his country. India is one of the most prominent U.S. allies that has largely stayed on the sidelines of the war, and has even dramatically increased its purchases of Russian oil.

    Jon Finer, the White House principal deputy national security adviser, said the administration pushed for Zelenskyy’s inclusion at the summit.

    “Ultimately, it is not our decision,” Finer said. “But you can expect that the United States and our other partners who are working with Ukraine so closely … We’ll make that case quite forcefully in the context of these conversations.”

    The summit communique, a joint statement agreed to by all participants, addressed the war, among other issues. It included language underlining the principle that states cannot use force to change borders, disavowed the use nuclear weapons and called for a just peace based on the principles of the United Nations Charter. The communique also underscored that attacks on civilian infrastructure must end.

    During the summit, Biden also discussed his request to Congress for additional funding for the World Bank that could generate more than $25 billion in new lending for economic development.

    The White House more broadly is trying to strengthen the G20 as an international forum, while Chinese President Xi Jinping and Russian President Vladimir Putin decided not to attend.

    Biden has said he was disappointed by Xi’s decision. Asked again about the Chinese leader’s absence, Biden said Saturday that the summit “is going well” though “it would be nice to have him here.”

    ——

    Associated Press writer Adam Schreck contributed to this report.

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  • The African Union is joining the G20, a powerful acknowledgement of a continent of 1 billion people

    The African Union is joining the G20, a powerful acknowledgement of a continent of 1 billion people

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    NAIROBI, Kenya — The group of the world’s 20 leading economies is welcoming the African Union as a permanent member, a powerful acknowledgement of Africa as its more than 50 countries seek a more important role on the global stage.

    U.S. President Joe Biden called last year for the AU’s permanent membership in the G20, saying it’s been “a long time in coming.” Indian Prime Minister Narendra Modi welcomed the current AU chair, Comoros President Azali Assoumani, with a hug on Saturday at the G20 summit his country is hosting, saying he was “elated.”

    “Congratulations to all of Africa!” said Senegal President Macky Sall, the previous AU chair who helped to push for membership. The AU had advocated for full membership for seven years, spokesperson Ebba Kalondo said. Until now, South Africa was the bloc’s only G20 member.

    Here’s a look at the AU and what its membership represents in a world where Africa is central to discussions about climate change, food security, migration and other issues.

    Permanent G20 membership signals the rise of a continent whose young population of 1.3 billion is set to double by 2050 and make up a quarter of the planet’s people.

    The AU’s 55 member states, which include the disputed Western Sahara, have pressed for meaningful roles in the global bodies that long represented a now faded post-World War II order, including the United Nations Security Council. They also want reforms to a global financial system – including the World Bank and other entities – that forces African countries to pay more than others to borrow money, deepening their debt.

    Africa is increasingly courting investment and political interest from a new generation of global powers beyond the U.S. and the continent’s former European colonizers. China is Africa’s largest trading partner and one of its largest lenders. Russia is its leading arms provider. Gulf nations have become some of the continent’s biggest investors. Turkey ’s largest overseas military base and embassy are in Somalia. Israel and Iran are increasing their outreach in search of partners.

    African leaders have impatiently challenged the framing of the continent as a passive victim of war, extremism, hunger and disaster that’s pressured to take one side or another among global powers. Some would prefer to be brokers, as shown by African peace efforts following Russia’s invasion of Ukraine.

    Granting the African Union membership in the G20 is a step that recognizes the continent as a global power in itself.

    With full G20 membership, the AU can represent a continent that’s home to the world’s largest free trade area. It’s also enormously rich in the resources the world needs to combat climate change, which Africa contributes to the least but is affected by the most.

    The African continent has 60% of the world’s renewable energy assets and more than 30% of the minerals key to renewable and low-carbon technologies. Congo alone has almost half of the world’s cobalt, a metal essential for lithium-ion batteries, according to a United Nations report on Africa’s economic development released last month.

    African leaders are tired of watching outsiders take the continent’s resources for processing and profits elsewhere and want more industrial development closer to home to benefit their economies.

    Take Africa’s natural assets into account and the continent is immensely wealthy, Kenyan President William Ruto said at the first Africa Climate Summit this week. The gathering in Nairobi ended with a call for fairer treatment by financial institutions, the delivery of rich countries’ long-promised $100 billion a year in climate financing for developing nations and a global tax on fossil fuels.

    Finding a common position among the AU’s member states, from the economic powers of Nigeria and Ethiopia to some of the world’s poorest nations, can be a challenge. And the AU itself has long been urged by some Africans to be more forceful in its responses to coups and other crises.

    The body’s rotating chairmanship, which changes annually, also gets in the way of consistency, but Africa “will need to speak with one voice if it hopes to influence G20 decision-making,” Ibrahim Assane Mayaki, a former prime minister of Niger, and Daouda Sembene, a former executive director of the International Monetary Fund, wrote in Project Syndicate this year.

    African leaders have shown their willingness to take such collective action. During the COVID-19 pandemic, they united in loudly criticizing the hoarding of vaccines by rich countries and teamed up to pursue bulk purchases of supplies for the continent.

    Now, as a high-profile G20 member, Africa’s demands will be harder to ignore.

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  • Indian Prime Minister Narendra Modi says the Group of 20 has agreed to make the African Union a permanent member

    Indian Prime Minister Narendra Modi says the Group of 20 has agreed to make the African Union a permanent member

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    Indian Prime Minister Narendra Modi says the Group of 20 has agreed to make the African Union a permanent member

    ByThe Associated Press

    September 9, 2023, 1:21 AM

    NEW DELHI — Indian Prime Minister Narendra Modi says the Group of 20 has agreed to make the African Union a permanent member.

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  • India hopes for progress on global agenda as G20 leaders meet despite rifts over the war in Ukraine

    India hopes for progress on global agenda as G20 leaders meet despite rifts over the war in Ukraine

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    NEW DELHI — Leaders of many of the world’s biggest economies prepared to huddle in the Indian capital for the Group of Twenty summit Saturday, though growing global rifts and the absence of key players meant that reaching consensus on the thorniest issues could prove elusive.

    At least a fifth of G20 heads were not in New Delhi. The leaders of Russia and China opted not to come, ensuring no tough face-to-face conversations with their American and European counterparts over multiple disputes, most acutely the war in Ukraine. Spain’s president couldn’t make it due to COVID-19, and Mexico’s president decided to miss it, too.

    Host India hoped the proceedings would not be overshadowed by the European war. It wanted to devote more attention to addressing the needs of the developing world — though it is impossible to decouple many issues, such as food and energy security, from the Ukraine conflict.

    Indian Prime Minister Narendra Modi has made giving voice to the Global South a centerpiece of this year’s summit.

    While that may well get broad support, a series of preparatory meetings leading to this weekend’s meeting failed to produce agreements due to increasingly fractious rifts among the world’s global powers, largely due to differences over Ukraine. Ending the summit without such a statement would underscore how strained relations have become and tarnish the image Modi has tried to cultivate of India as a global problem solver.

    Participants arriving in the Indian capital were greeted by streets cleared of traffic, and graced with fresh flowers and seemingly endless posters featuring slogans and Modi’s face. Security was intensely tight, with most journalists and the public kept far from the summit venue.

    The group was expected to invite the African Union to join as a permanent member, and among the major topics on the agenda were issues critical to developing nations, including alternative fuels like hydrogen, resource efficiency, developing a common framework for digital public infrastructure and food security.

    Countries were also expected to address reforming development banks like the World Bank and International Monetary Fund to help make funds more accessible for lower- and middle-income countries as they seek solutions to combat climate change, among other things.

    India’s lead G20 negotiator, Amitabh Kant, told reporters that boosting climate action and climate financing were key priorities, particularly for developing and emerging markets.

    “It was critical that we focused on multilateral organizations and how to redefine and reform them,” he said. “Our view was that Global South, developing countries, emerging markets must be able to get long-term financing.”

    With so many other issues on the table, Human Rights Watch urged the G20 leaders not to let international disunity distract them at the summit.

    “Political differences should not deter agreements on critical issues impacting human rights such as the sovereign debt crises, social protection programs, food security, climate change, or internet freedom,” said Meenakshi Ganguly, deputy director of the organization’s Asia division.

    Ganguly added that members should not “shy away from openly discussing challenges like gender discrimination, racism and other entrenched barriers to equality, including with host India, where civil and political rights have sharply deteriorated under the Modi administration.”

    The summit comes just days after Russian President Vladimir Putin said a landmark deal allowing Ukraine to export grain safely through the Black Sea will not be restored until Western nations meet his demands on Russia’s own agricultural exports.

    The original deal had been brokered by the U.N. and Turkish President Recep Tayyip Erdogan, but Russia refused to extend it in July, complaining that a parallel agreement promising to remove obstacles to Russian exports of food and fertilizer hadn’t been honored.

    Russia dispatched Foreign Minister Sergey Lavrov as its top representative to the G20. Erdogan himself was on hand in the Indian capital and others said ahead of the summit that they hoped to be able to find solutions, even as Russia’s military keeps up its attacks on Ukraine’s ports.

    European Council President Charles Michel told reporters in New Delhi on Friday it was “scandalous” that Russia was blocking and attacking Ukrainian ports after terminating the grain deal.

    “The Kremlin’s war is also unraveling lives far beyond Ukraine, including right here in South Asia,” he said. “Over 250 million people face acute food insecurity worldwide and by deliberately attacking Ukraine’s ports, the Kremlin is depriving them of the food they desperately need.”

    British Prime Minister Rishi Sunak said he hoped to marshal international resources to counteract the impact of Russia’s moves on the global food supply. His government has announced London will host a global food security summit in November in response to Moscow’s actions.

    Alternatives could include land routes or taking grain out of Ukraine by river barge.

    Sunak’s government has also said Royal Air Force aircraft will fly over the Black Sea as part of efforts to deter Russia from striking cargo ships transporting grain from Ukraine to developing countries.

    Hundreds of Tibetan exiles held a protest far from the summit venue to condemn Chinese participation in the event and urge leaders to discuss Sino-Tibetan relations.

    Before the meeting got formally underway, Modi met with U.S. President Joe Biden shortly after his arrival Friday evening.

    White House aide Kurt Campbell told reporters afterward that there was an “undeniable warmth and confidence between the two leaders.”

    Leaders of the U.S., India, Saudi Arabia and the United Arab Emirates were working to finalize a joint infrastructure deal involving ship and rail transit between India and the Middle East to Turkey and beyond, in hopes it could be announced in New Delhi during the summit.

    Campbell called the emerging deal a potentially “earth-shattering” project and said that “the strongest supporter of this initiative is India.” In the past, Campbell said, India’s leaders have had “almost a knee jerk reaction” to resist such massive multilateral projects.

    “It’s the last moment that’s when things come together or they don’t,” Campbell said. “With huge, enormous ambitious deals it always comes to this place.”

    As Biden made his way to New Delhi, U.S. administration officials sought to play down that Ukrainian Volodymyr Zelenskyy wasn’t invited to address the G20.

    The Ukrainian leader has made regular appearances, virtual and in-person, at such international forums since the start of the war more than 18 months ago to rally allies to remain committed to support Ukraine.

    ___

    Associated Press writers Krutika Pathi, Aamer Madhani, Josh Boak in New Delhi and Jill Lawless in London contributed to this report.

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  • India takes over G20 presidency from Indonesia; to officially assume charge from Dec 1

    India takes over G20 presidency from Indonesia; to officially assume charge from Dec 1

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    Indonesia President Joko Widodo handed over the G20 Presidency to India at the closing ceremony of the 17th intergovernmental summit in Bali on Wednesday. India will officially assume the G20 presidency on December 1. Prime Minister Narendra Modi said at the closing G20 session that taking over the presidency of G20 is a moment of pride for every Indian citizen and LIFE– Lifestyle for Environment will play an important role. 

    The Prime Minister further said that during its stint as the G20 chair, India will organise meets in different states and cities of the country and make it a catalyst for global change. 

    He added that women-led development will be a focal point of the G20 agenda in 2023. Besides this, he said that India will work jointly with other G20 nations toward bridging the digital divide. PM Modi said, “The principle of ‘data for development’ will be an integral part of the overall theme of our Presidency “One Earth, One Family, One Future.” 

    Foreign secretary Vinay Kwatra said India has contributed ‘constructively’ to the drafting of the G20 ‘outcome document.’ The G20 grouping comprises India, Australia, Argentina, Brazil, China, Canada, Russia, Saudi Arabia, Germany, France, Mexico, Indonesia, Italy, Japan, South Africa, Turkey, the UK, the US, the Republic of Korea, and the European Union. 

    The G20 Summit took place on November 15 and 16 in Bali, Indonesia. It is a forum for international economic cooperation and represents 85 per cent of the global GDP, over 75 per cent of the global trade and two-thirds of the global population.

    Also read: G20 Summit in Bali LIVE: ‘Taking over G20 presidency matter of pride for every Indian, says PM Modi

    Also read: Rishi Sunak-led UK govt approves 3,000 visas for Indians per year under new scheme

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  • G20 Summit: PM Modi, Xi Jinping exchange greetings for the first time since Ladakh crisis

    G20 Summit: PM Modi, Xi Jinping exchange greetings for the first time since Ladakh crisis

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    Prime Minister Narendra Modi and Chinese President Xi Jinping on Tuesday exchanged greetings at the G20 dinner in Bali, Indonesia. This is the first time both leaders have exchanged greetings since the tension broke out at the border in Ladakh in 2020. There were expectations that both leaders could meet at the SCO Summit held between 15 and 16 September 2022 in Samarkand, Uzbekistan but that did not happen. 

    The border crisis began in April 2020 after the Chinese PLA advanced into areas claimed by India. Both countries held multiple rounds of talks to achieve the status quo ante at several friction points. 

    (Story to be updated)

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  • Binance CEO says crypto industry needs clarity of regulations

    Binance CEO says crypto industry needs clarity of regulations

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    The chief executive of dominant cryptocurrency exchange Binance called for new but stable and clear regulations for the industry in light of recent developments and participants “cutting corners”.

    “We’re in a new industry, we’ve seen in the past week, things go crazy in the industry,” Changpeng Zhao told a gathering of G20 leaders at a summit in Bali. “We do need some regulations, we do need to do this properly, we do need to do this in a stable way.”

    His comments come as crypto industry peers and partners outline steps to deal with the collapse of Sam Bankman-Fried’s rival exchange, FTX. FTX filed for bankruptcy on Friday after a week of seeing customers pull assets and Binance abandoning a rescue offer.

    “I think the industry collectively has a role to protect consumers, to protect everybody. So it’s not just regulators. Regulators have a role but it’s not 100 per cent their responsibility,” Zhao said.

    On the weekend, he had tweeted that Binance had stopped accepting deposits of FTX’s FTT token on its platform, and urged other exchanges to do the same.

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