The G20 summit in Rome concluded on Sunday (31.10.2021) with a Declaration reaffirming the crucial role of multilateralism and international cooperation in overcoming the global challenges derived from the COVID-19 pandemic with the aim of global recovery.
Here are some key points:
Multilateralism
In the introduction to the document, the G20 leaders “underline The fundamental role of multilateralism in the search for shared and effective solutions” and therefore agree to “further strengthen the common response to the pandemic and pave the way for a global recovery, paying special attention to the needs of the most vulnerable”.
»We have agreed on a shared vision to combat climate change and we have taken important steps towards achieving gender equality. We have also made further progress in our common efforts to ensure that The benefits of digitalization "are shared widely, safely and contribute to reducing inequalities," the statement said.
Climate Change
According to the final communiqué, world leaders They promised to limit global warming to 1.5 degrees, which “will require significant and effective actions and commitment from all countries, taking into account different approaches.”
They also committed to Achieve a net-zero carbon emissions goal “by mid-century”, rather than setting a clear date for 2050 as had been hoped by activists and summit host Italy. Elsewhere in the Declaration, they agreed to stop financing new dirty coal plants abroad by the end of 2021 and reaffirmed a so far unfulfilled commitment to mobilise USD 100 trillion to developing countries for climate adaptation costs.
The leaders acknowledged “the use of carbon pricing mechanisms and incentives» as a possible tool against climate change.
Tax
On international taxes, G20 leaders make “a call to the OECD/G20 Inclusive Framework on BEPS to rapidly develop the model rules and multilateral instruments agreed in the Implementation Plan, with a view to ensuring that the new rules enter into force globally in 2023.”
Digital economy
Likewise, the G20 countries Highlight the role of technology and innovation as key enablers for global recovery and sustainable development“We recognize the importance of policies to create an enabling, inclusive, open, fair and non-discriminatory digital environment in the economy that fosters the application of new technologies, enables businesses and entrepreneurs to thrive, and protects and empowers consumers, while addressing challenges related to privacy, data protection, intellectual property rights and security,” the document states.
To this end, the G20 members declare: “We commit to Strengthen our actions and international cooperation towards the digital transformation of production, processes, services and business models, also through the use of international standards based on consensus and improving consumer protection, digital skills and literacy.”
World leaders also expressed “the need to address growing security challenges in the world environment digital, including ransomware and other forms of cybercrime.”
In addition, the G20 recognizes the importance of the free flow of data with trust and cross-border data flows, Therefore, it will continue “working to address challenges such as those related to privacy, data protection, security and intellectual property rights, in accordance with the relevant applicable legal frameworks.”
“We will also continue to foster common understanding and work to identify commonalities, complementarities and elements of convergence between existing regulatory approaches and instruments that allow data to flow with confidence, in order to foster the future interoperability,” the document states. (G20 leaders' statement in Rome)
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