The G20 Leaders' Summit Concludes with a commitment to address the most pressing global challenges

Rome, 31 Oct (Xinhua) -- The 16th G20 Summit, which concluded in Rome on 31 October, adopted the G20 Leaders' Summit Declaration, reaffirming the important role of multilateralism and international cooperation in responding to the epidemic and promoting green and equitable growth.

The G20 leaders agreed to further strengthen cooperation in responding to the outbreak together, with a special focus on the needs of the most vulnerable, the declaration said. Determined to use all available tools to address the negative impact of the pandemic, leaders will continue to sustain the economic recovery and avoid premature exits to support measures while maintaining financial stability and long-term fiscal sustainability, guarding against downside risks and negative spillovers, and remaining vigilant against global challenges affecting the economy, such as supply chain disruptions.

Stressing that vaccines are one of the most important tools to fight the pandemic, G20 leaders reaffirmed that widespread 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.

"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," the declaration said. ”

In addressing climate change, G20 leaders reaffirmed their 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, embodying the principles of common but differentiated responsibilities and respective capabilities, taking into account different national circumstances. Leaders said they remain committed to the Paris Agreement target of limiting the increase in global average temperatures below 2°C and working to limit it to 1.5°C above pre-industrial levels.

Italian Prime Minister Mario Draghi, who holds the G20 presidency, said at the closing news conference that "the best form of cooperation we know is multilateralism" without which people will achieve nothing on issues such as climate change and poverty eradication. He called on G20 members to accelerate joint action to effectively address global challenges.

The two-day G20 Leaders' Summit was held in a combination of online and offline. Indonesia will take over the G20 presidency next year.

Source: Xinhua Net