G20 Summit Adopts G20 Rome Summit Declaration

Source: People's Daily - People's Daily

Rome, 31 Oct (Xinhua) -- The 16th G20 Summit was held in Rome, Italy, from October 30 to 31 in a combination of online and offline. The summit adopted the Declaration of the G20 Leaders' Rome Summit. The summary is as follows:

G20 leaders met in Rome from 30 to 31 October to address today's most pressing global challenges, to come together to better recover from the COVID-19 crisis and to drive greener, fairer growth for G20 members and the world. We are deeply grateful to healthcare workers, frontline workers, international organizations and the scientific community for their tireless efforts to respond to the COVID-19 pandemic.

We stress the critical role of multilateralism in finding common and effective solutions, and we agree to further strengthen cooperation in the joint response to COVID-19, with a special focus on the needs of the most vulnerable. We have taken decisive steps to support the countries most in need, reached a shared vision for addressing climate change, taken important steps to achieve gender equality, and worked together to ensure that the digital dividend is widely shared.

In 2021, thanks to vaccination promotion and continued policy support, the global economy has recovered steadily. We are determined to use all available tools to address the negative impact of the pandemic. We will continue to sustain the recovery and avoid premature exits from support measures, while maintaining financial stability and long-term fiscal sustainability, and guarding against downside risks and negative spillovers. We remain vigilant about global challenges affecting the economy, such as supply chain disruptions.

Recognizing that vaccines are one of the most important tools in the fight against COVID-19, we reaffirm that widespread COVID-19 vaccination is a global public good and will increase efforts to ensure timely, equitable and universal access to safe, affordable, high-quality and effective vaccines, treatments and diagnostic tools, with a particular focus on the needs of low- and middle-income countries. To advance the global vaccination target recommended by the WORLD's Global Vaccination Strategy, which is at least 40 per cent of the population in all countries by 2021 and 70 per cent by mid-2022, we will take steps to help developing countries increase the availability of vaccines, critical medical products and raw materials, and address related supply and financing constraints. We support low- and middle-income countries in improving vaccine distribution, regulation and local production capacities, including through the establishment of technology transfer centres in multiple regions and joint production and processing arrangements. We will work together to promote the recognition of COVID-19 vaccines that the World Health Organization considers safe and effective, in accordance with national laws and national conditions. We are committed to significantly increasing the availability and access to vaccines, treatments and diagnostic tools to ensure transparent, rapid and predictable delivery and vaccination of vaccines where they are needed. We call on the private sector and multilateral financial institutions to join in this effort.

We are deeply concerned about the impact of the COVID-19 crisis, particularly on developing countries, and will strengthen action to implement the G20 Action Plan for the Implementation of the 2030 Agenda for Sustainable Development. We welcome the progress of relevant work and reaffirm our continued support for African countries, in particular through the G20 Initiative on Industrialization in Africa and the Least Developed Countries, and other relevant initiatives.

We welcome the general increase in the new round of special drawing rights implemented by the International Monetary Fund, which provides the world with $650 billion worth of additional reserves. We welcome the progress made in the G20 Debt Relief Initiative. Preliminary estimates suggest that 50 countries benefited from at least $12.7 billion in debt moratoriums under the initiative between May 2020 and December 2021. We stress the importance of the joint efforts of all parties, including private creditors. We will continue to advance the IMF governance reform process by completing the 16th Round of The General Review of Shares by 15 December 2023, including the introduction of a new quota formula as a guide.

We commit ourselves to strengthening action to halt and reverse biodiversity loss by 2030 and call on Parties to the Convention on Biological Diversity to adopt an ambitious, balanced, pragmatic, effective, strong and transformative Post-2020 Global Biodiversity Framework at the fifteenth Conference of the Parties (cop15) in Kunming.

We reaffirm our commitment to the full and effective implementation of the United Nations Framework Convention on Climate Change and the Paris Agreement, taking mitigation, adaptation and financial action during this critical decade, based on the best available scientific knowledge, embodying the principles of common but differentiated responsibilities and respective capabilities, and taking into account different national circumstances. We remain committed to the Paris Agreement goal of limiting the increase in global average temperatures below 2 degrees Celsius and working to limit it to 1.5 degrees Celsius above pre-industrial levels as one of the means of achieving the 2030 Agenda.

We stress the importance of effective implementation of the global adaptation goals, and we commit ourselves to expanding adaptation finance to meet the needs of developing countries. We recall and reaffirm the commitment of developed countries to mobilize $100 billion per year by 2020 and extend it into 2025 to address the needs of developing countries, stressing the importance of fully realizing the goal as soon as possible. We encourage the international financial institutions to step up their efforts to align themselves with the Paris Agreement within an ambitious time frame, support sustainable recovery and transformation strategies, nationally determined contributions and long-term cryogenic greenhouse gas emissions development strategies for emerging market and developing economies, and develop plans to mobilize private finance in accordance with their mandates, while continuing to support the implementation of the United Nations 2030 Agenda for Sustainable Development. We will work to significantly reduce total greenhouse gas emissions, taking into account national circumstances and respecting our Nationally Determined Contributions. We are committed to maintaining energy security while addressing climate change and ensuring a just and orderly transition to an affordable energy system, including for the most vulnerable households and businesses.

In line with the 2030 Agenda for Sustainable Development and the Paris Agreement, it is essential to promote an orderly and just transition to a greener, more sustainable economy and inclusive society. We are committed to ensuring access to quality education for all, with special attention to women, girls and disadvantaged students.

We welcome the Financial Stability Board's final report summarizing the lessons learned from COVID-19 from a financial stability perspective and its recommendations for next steps. We encourage continued in-depth analysis of the potential role of central bank digital currencies in facilitating cross-border payments and their broader implications for the international monetary system.

We recognize the important role of an open, equitable, equitable, sustainable, non-discriminatory, inclusive and rules-based multilateral trading system in restoring growth, creating jobs, restoring industrial productivity and promoting sustainable development, and our commitment to strengthening the multilateral trading system with the World Trade Organization at its core.

We recognize the key role that high-quality infrastructure investment plays in the economic recovery phase. We recognize that robust, well-funded, well-maintained and well-managed systems are essential to protecting infrastructure assets throughout their lifecycle, minimizing loss and damage, and ensuring the delivery of safe, reliable and high-quality infrastructure services.

We recognize the role of technology and innovation as key drivers of global recovery and sustainable development. We recognize the importance of developing policies to create a enabling, inclusive, open, equitable, and non-discriminatory digital economy. We reaffirm our commitment to improving digital financial inclusion for vulnerable and underserved groups, including micro, small and medium-sized enterprises, advancing the Global Partnership for Financial Inclusion, and implementing the G20 Financial Inclusion Action Plan 2020.

We reaffirm our commitment to a zero-tolerance approach to corruption in the public and private spheres and to achieving common goals in the international fight against corruption by adopting the G20 Action Plan against Corruption for 2022-2024.

We look forward to the Beijing 2022 Winter Olympics and Paralympic Winter Games. This is an important opportunity for athletes from all over the world to compete and a symbol of human resilience.

People's Daily ( 01 November 2021 02 edition)