How to read the fine print of the G20 Delhi Declaration

The Delhi Declaration of G20 begins by stating that this is a “defining moment in history” and that G20’s decisions today will affect the future of the people and planet. The growth story cannot hinge on the state alone, and the Delhi Declaration sees a key role for the private sector and commits to creating “inclusive, sustainable, and resilient global value chains, and support developing countries to move up the value chain”, facilitating investments, promoting the ease of doing business, and recognising the role of startups and MSMEs. On hunger, the G20 declaration has adopted the Deccan High-Level Principles on Food Security and Nutrition, including encouraging efforts to strengthen research cooperation on climate resilient grains such as millets; increase access, availability, and efficient use of fertiliser and agricultural inputs, accelerate innovations and investment focused on increasing agricultural productivity, “support developing countries’ efforts and capacities to address their food security challenges”, facilitate “open, fair, predictable, and rules-based agriculture, food and fertilizer trade”, and “not impose export prohibitions or restrictions and reduce market distortions”, a particularly salient point given how food insecurities have led to a rash of export bans, including by India. “We reiterate our commitment to achieve global net zero emissions /carbon neutrality by or around mid-century while taking into account latest scientific developments and in line with different national circumstances, taking into account different approaches including circular carbon economy, socio-economic, technological and market developments and promoting the most efficient solutions.” The leaders’ summit has also endorsed the G20 High-Level Principles on Lifestyles for Sustainable Development, a key initiative of PM Narendra Modi, to make the battle against climate crisis a mass movement by ensuring sustainable lifestyles. The leaders also asked MDBs to “evolve their vision, incentive structures, operational approaches and financial capacities”, lauded the work of the independent expert group; asked MDBs to leverage private capital through innovative financing models and new partnerships to maximise their development impact; and promised to mobilise concessional finance to boost the World Bank’s capacity to support low and middle-income countries Women-led development The declaration also commits G20 to “women-led development” and enhancing their “full, equal, effective, and meaningful participation as decision makers”.