G20 Parliament Speakers to Debate SDGs, Energy Transition, and Women-Led Development in India Next Week

G20 Parliament Leaders Gather for P20 Summit in India

Parliament chiefs from G20 nations are set to convene in India for the Parliament 20 (P20) Summit, where crucial discussions on Sustainable Development Goals (SDGs), sustainable energy transition, and the impact of legislative bodies on digital public infrastructure (DPI) will take center stage.

P20 Inauguration by Prime Minister Narendra Modi

Scheduled to be inaugurated by Prime Minister Narendra Modi on October 13, the two-day P20 Summit is poised to conclude on October 14. The summit's primary goal is to issue a joint statement urging G20 governments to tackle major global challenges while emphasizing equality, inclusivity, and peace.

Addressing Global Challenges Through P20

The Parliament 20 Summit aims to deliberate on various pressing issues, including the contribution of parliamentary bodies to SDG acceleration, sustainable energy transition, and leveraging digital public infrastructure for societal transformation.

The summit provides a platform for parliament chiefs and leaders to collectively strategize and address these global challenges.

Women-Led Development and International Participation

In addition to the core themes, P20 will shed light on women-led development. Confirmations from presiding officers of 26 countries, 10 deputy speakers, a committee chairman, and the President of the Inter-Parliamentary Union highlight the international participation in this significant summit.

The President of the Pan African Parliament will mark India's G20 event attendance for the first time.

P20 Summit Overview and Expected Delegates

More than 350 delegates are anticipated to attend the three-day P20 Summit at the India International Convention and Expo Centre, named Yashobhoomi, in Dwarka. The summit's main theme, proposed by Lok Sabha Speaker Om Birla, is 'Parliaments for One Earth, One Family, One Future.'

Pre-Summit Events and Engagements

Preceding the P20 Summit, a Parliamentary Forum on Lifestyle for Environment (LiFE) will take place on October 12. An exhibition titled 'Mother of Democracy' will showcase India's ancient and participative democratic traditions.

Delegates will also tour the new Parliament house, partake in a cultural evening, and attend a dinner hosted by the speaker.

G20 Leaders Summit Commitments and Capital Adequacy Reforms

The G20 Leaders Summit on September 9-10 made commitments to mobilize resources for SDGs and energy transition. Capital Adequacy Reforms in Multilateral Development Banks (MDBs) are expected to unlock an additional $200 billion in lending over a decade.

India G20 Presidency's Expert Group Estimates

An expert group appointed by India's G20 Presidency estimated a $3 trillion annual spending requirement by 2030 to address global challenges and SDGs.

The group suggests that $2 trillion could come from domestic resource mobilization, over half a trillion from private financing, and the rest from official financing, including MDBs.

Latest Facts:

• According to an India G20 Presidency-appointed expert group, there is an additional spending requirement of $3 trillion per year by 2030 to address urgent global challenges and sustainable development goals (SDGs).

• Of the $3 trillion annual requirement, $2 trillion could come from domestic resource mobilization, while of the remaining $1 trillion, more than half could come from private financing, and the rest from official financing including multilateral development banks (MDBs).

• The G20 Leaders Summit on September 9-10 pledged to mobilise more resources for SDGs and energy transition for a better world with enhanced lending by MDBs.

• Capital Adequacy Reforms in MDBs would unlock $200 billion additional lending by MDBs over a decade.

Conclusion:

The P20 is a timely and important event, as the world faces a number of pressing challenges, including climate change, inequality, and the COVID-19 pandemic. The summit is an opportunity for parliamentarians to work together to develop solutions to these challenges and create a better future for all.