India's G20 Presidency Concludes With Digital, Financial, and Green Initiatives
India's G20 presidency, themed 'Vasudhaiva Kutumbakam', has concluded with significant progress on global cooperation. The Business 20 (B20) engagement group, comprising representatives from major economies, presented 54 recommendations and 172 policy actions for G20 consideration.
The B20 prioritized digital transformations, advocating for high-quality internet access and harmonized cybersecurity standards to build digital trust. It also emphasized financial inclusion through digital public infrastructure for unique identification of MSMEs and individuals.
The group called for improved MSME access to finance, suggesting alternative financing instruments and technology. To enhance transparency, the B20 recommended a standard set of definitions/taxonomies for ESG frameworks. It also focused on driving net-zero emissions and expanding multilateral development banks' capacity for energy transitions.
India championed the inclusion of the African Union (AU) as a G20 member, ensuring support for education, agricultural transformation, and infrastructure development. The G20 was encouraged to work on developing skills related to environmental sustainability and facilitating global workforce mobility.
The B20's 54 recommendations and 172 policy actions, developed under India's G20 presidency, aim to guide the G20's future initiatives. These include digital transformations, financial inclusion, transparent ESG frameworks, net-zero emissions, and global collaboration, reflecting the theme 'One Earth, One Family, One Future'.
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