The G20 Leaders’ Declaration, signed in Rio de Janeiro in November 2024, comes at a critical juncture in the global effort to address climate change. There is a strong focus on core climate and sustainability in the declaration. It includes provisions on sustainable development and climate finance, which need to be acted upon for effectiveness.
The declaration signals the G20's alignment with the outcomes of COP28, held in Dubai. The leaders welcomed the UAE Consensus and the first Global Stocktake of the Paris Agreement (GST-1)1. This indicates a shared recognition of the urgency to achieve the goals of the Paris Agreement. The declaration highlights the GST-1's call for ambitious Nationally Determined Contributions (NDCs) aligned with limiting global warming to well below 2°C, that is, within 1.5°C as set out in the Paris agreement. While this focus on ambitious emission reduction targets is encouraging, the true measure of commitment will lie in the specific actions countries take to achieve them.
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The declaration emphasises the need for a just and inclusive energy transition. The leaders committed to accelerating the shift to clean and sustainable energy sources, acknowledging the uneven impact of climate change. Specific targets include tripling renewable energy capacity globally by 2030, while doubling the rate of improvement of energy efficiency. This tripling of renewables reiterates the New Delhi declaration at the last G20. While these targets signal a commitment to decarbonising the global energy system, their achievement will require substantial policy changes and investment. Additionally, the declaration reiterates the commitment to phase out inefficient fossil fuel subsidies, originally pledged in 2009. Addressing this issue is crucial for shifting financial resources towards cleaner energy. However, progress on this front has been slow, necessitating concrete actions to ensure this commitment translates into tangible outcomes.
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The declaration acknowledges the role of finance in addressing climate change, stressing the need to scale up climate finance from billions to trillions. The leaders committed to increasing both public and private climate finance, particularly for developing countries. However, the declaration lacks specific funding commitments, which raises questions about the scale and speed of financial mobilisation. The establishment of the Task Force on a Global Mobilization against Climate Change (TF-CLIMA) aims to integrate climate considerations into global financial and economic agendas. While the TF-CLIMA's mandate is promising, its effectiveness will depend on its ability to overcome existing barriers to climate finance, particularly in developing countries.
The declaration addresses a range of sustainability concerns, including ending plastic pollution and concluding negotiations for an international legally binding instrument on this key priority by the end of 2024. The leaders also reaffirmed their commitment to the Kunming-Montreal Global Biodiversity Framework and sustainable forest management. These commitments are positive steps, but their implementation will require sustained effort and collaboration.
Voluntary Action
The Rio Declaration, while containing positive elements, relies heavily on voluntary action by member states. This approach, while respecting national sovereignty, introduces uncertainty regarding the declaration's overall effectiveness. The absence of binding commitments and strong accountability mechanisms could hinder the achievement of the declaration's ambitious as its success ultimately hinges on the concrete actions taken by G20 members in the coming years.
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The Rio Declaration represents another step in the ongoing global dialogue on climate action and sustainable development. It is a signal of intent, but the true measure of its significance will be determined by the extent to which the G20 translates its commitments into concrete and impactful policies. The international community will be closely observing the G20's progress in delivering on these commitments and demonstrating the leadership required to address the multifaceted challenges of climate change and sustainability.
India’s Role
India's played an important role in the G20 Rio Declaration by actively participating in the forum India's and hosting it in 2023. Its involvement demonstrates its growing influence in shaping the global agenda on climate change and sustainability. While the declaration is a collective statement from member nations, it carries specific implications for India, given its position as a major emerging economy and a significant player in the global fight against climate change. The emphasis on a just and inclusive energy transition resonates as India balances economic development with environmental sustainability. While India has made significant strides in renewable energy, it does require further investment and policy support. The declaration's focus on scaling up climate finance is also crucial for India to access affordable climate finance. Indeed, India has been a long-standing advocate for a more equitable global financial architecture. The call for phasing out inefficient fossil fuel subsidies (in the medium term), while potentially impacting India's energy policy, also opens avenues for redirecting these resources towards sustainable development. Overall, the Rio Declaration offers affirmations and opportunities for India.
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(Hisham Mundol is Trustee, Environmental Defence India Foundation. Views expressed are personal)
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