India is hosting the prestigious G20 (Group of Twenty) summit in 2023, as the country holds the G20 Presidency from December 1, 2022, to November 30, 2023.
- The theme for India’s G20 Presidency is “Vasudhaiva Kutumbakam,” which refers to “One Earth, One Family, One Future. It is taken from the Maha Upanishad, an ancient Sanskrit text.
The G20 Presidency of India will share, collaborate, and build on the member countries’ spirit of trusteeship to help build a sustainable future for all.
Note:
- The first International Financial Architecture Working Group (IFA WG) Meeting was held in Chandigarh from January 30–31, 2023.
- The first Education Working Group Meeting was held in Chennai, Tamil Nadu, from January 31–February 2, 2023.
About the Group of Twenty (G20):
i.The G20 is the leading forum for economic cooperation on a global scale.
ii.G20 Members: It has 20 members, including 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom (UK), United States (US), and the European Union (EU).
iii.The G20 members account for nearly two-thirds of the world’s population, over 75% of global trade, and about 85% of the global Gross Domestic Product (GDP).
First G20 Energy Transitions Working Group Meeting: February 5 – 7, 2023
The first “G20 Energy Transition Working Group” (ETWG) Meeting under India’s G20 Presidency was held in Bengaluru, Karnataka, from February 5-7, 2023.
- The next ETWG meeting will be held in Gandhinagar, Gujarat, in April 2023.
Key Points:
i.Participants:The meeting had more than 150 participants, including nine special invited guest nations: Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, the United Arab Emirates (UAE), and Spain.
- In addition, participants included representatives from the World Bank (WB), Asian Development Bank (ADB), United Nations Development Program (UNDP), International Energy Agency (IEA), Clean Energy Ministerial (CEM), United Nations Environment Program (UNEP), International Solar Alliance (ISA), United Nations International Development Organization (UNIDO), United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), RD20, and knowledge partners.
ii.Six Priority Areas of The 1st G20 ETWG Meeting
- Energy Transition through Addressing Technology Gaps
- Low-cost Financing for Energy Transition
- Energy Security and Diversified Supply Chains
- Energy Efficiency, Industrial Low Carbon Transitions and Responsible Consumption
- Fuels for Future (3F)
- Universal Access to Clean Energy and Just, Affordable, and Inclusive Energy Transition Pathways
iii.A high-level international seminar on ‘Carbon Capture, Utilization and Storage (CCUS)’ has been organized under the meeting.
iv.As part of the meeting, Pavagada Solar Park and Infosys Green Building Campus were visited by the delegates to see India’s push towards renewable sector and efforts to mitigate climate change.
India signs MoU with Indonesia-Malaysia-Thailand Growth Triangle Joint Business Council
On the sidelines of the first G20 ETWG Meeting, Energy Efficiency Services Limited (EESL) signed a Memorandum of Understanding (MoU) with the Indonesia-Malaysia-Thailand Growth Triangle Joint Business Council (IMT-GT JBC), Malaysia, to promote the adoption of energy efficiency and sustainable practices in the region.
- EESL is a public sector undertaking (PSU) under the Ministry of Power, Government of India (GoI), that assists the implementation of energy efficiency projects.
The MoU was signed concurrently with the India Energy Week events, which took place from February 6–8, 2023, in Bengaluru, Karnataka.
Key Points:
i.Under this strategic partnership, EESL will provide technical advice, project management, contracting, and implementation support to select energy efficiency programmes from its portfolio that have a track record of success.
ii.EESL will also work with IMT-GT JBC Malaysia to explore opportunities for energy conservation and carbon emission reduction.
iii.With the assistance of IMT-GT JBC Malaysia, EESL will implement the Rooftop Solar, LED Street Light Project, Electric Mobility, UJALA, and Building Energy Efficiency Programme across Indonesia, Malaysia, and Thailand under this cooperation.
iv.In addition, the IMT-GT JBC Malaysia will identify other new interventions to meet its targets under the Green City Action Plans 2022-2025.
Energy Efficiency Services Limited (EESL)
i.EESL is a joint venture (JV) between NTPC Limited (previously known as National Thermal Power Corporation Limited), Power Finance Corporation Ltd. (PFC), REC Limited (formerly Rural Electrification Corporation Limited), and Power Grid Corporation of India Limited (POWERGRID).
ii.It is a Super Energy Service Company (ESCO) that aims to unleash India’s estimated Rs. 74,000 crore energy efficiency market.
First G20 Sustainable Finance Working Group Meeting: February 02 – 04, 2023
The first “G20 Sustainable Finance Working Group” (SFWG) Meeting under India’s G20 Presidency was held in Guwahati, Assam, on February 2-4, 2023.
- Sarbananda Sonowal, Union Minister of AYUSH and Minister of Ports, Shipping, and Waterways, inaugurated the meeting.
- The United States (US) and China are the co-chairs of the SFWG, represented by Larry McDonald, Assistant Secretary at the U.S. Department of the Treasury, and Wang Xin, Director-General, Research Bureau, People’s Bank of China, respectively.
It was attended in person by 95 delegates from G20 member countries, 10 invitee countries, and 14 international organizations (IOs), including the IMF, NGFS, World Bank, UNDP, UNEP Fi (Finance Initiative), ADB, New Development Bank (NDB), and Financial Stability Board (FSB).
- The meeting was virtually attended by numerous IOs.
Sustainable Finance Working Group (SFWG)
i.SFWG intends to mobilize sustainable financing, in order to promote the transition to greener, more resilient, and inclusive society and economies.
ii.Three Priority Areas of The 1st G20 SFWG Meeting
- Mechanisms for mobilization of timely and adequate resources for climate finance
- Enabling finance for the Sustainable Development Goals
- Capacity building of the ecosystem for financing toward sustainable development.
Key Points:
i.The SFWG will establish a G20 Sustainable Finance Technical Assistance Action Plan (TAAP) in 2023 to address the challenges.
- It would also include identifying the skill gaps in sustainable finance and evaluate the current capacity-building initiatives.
ii.The SFWG would offer recommendations on how to scale up capacity-building services and look into the viability of establishing a global network for capacity building in sustainable finance.
Note: The First G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting under the Indian Presidency, which will be held in Bengaluru on February 24–25, 2023, would benefit from the discussions undertaken at this meeting.
Meta Partners with MeitY for G20 Stay Safe Online Campaign
The Ministry of Electronics and Information Technology (MeitY) and Meta, parent company of Facebook, have partnered for the “G20 Stay Safe Online Campaign.”
- Under the partnership, Meta will create and distribute resources via various channels in multiple Indian languages to increase awareness on online safety.
Key Points:
i.The “G20 Stay Safe Online Campaign” resources will address topics such as preventing online fraud, reporting harmful content, staying safe when engaging online, and more.
ii.This strategic alliance will benefit both existing internet users and the growing number of new internet users in India.
Digital Suraksha Campaign
Meta has also launched the #DigitalSuraksha campaign to educate the youth against misinformation, with the objective of raising cyber safety awareness and protecting people from falling victim to prevailing online frauds.
- The initial phase of this campaign will involve a collaboration with the Delhi Police to provide digital literacy to residents of the city.
Key Points:
i.The #DigitalSuraksha campaign will take place for two months and would focus on training Delhi Police officers on Meta’s safety tools and resources.
ii.It will provide digital literacy training to 10,000 students from various schools across Delhi on topics like cyberbullying, sextortion, trolling, identity theft, and internet safety.
First G20 Employment Working Group Meeting: February 2-4, 2023
The first “G20 Employment Working Group” (EWG) Meeting under India’s G20 Presidency was held in Jodhpur, Rajasthan, on February 2-4, 2023.
- Arti Ahuja, Secretary, Ministry of Labour and Employment (MoL&E), GoI, served as India’s G20 EWG Chair.
- The co-chairs of the EWG are Brazil and Indonesia.
Key Points:
i.The EWG meetings commenced with a special event that featured a panel discussion on “Exploring Strategies for Global Skills and Qualifications Harmonization and Developing a Framework for Common Skill Taxonomies.”
ii.Three Priority Areas of The 1st G20 EWG Meeting
- Addressing Global Skills Gaps
- Gig & platform economy & social protection
- Sustainable Financing of Social Security
Recent Related News:
i.In January 2023, Gujarat Governor Acharya Devvrat inaugurated the International Kite Festival 2023 at Sabarmati Riverfront in Ahmedabad, Gujarat. The festival is organised by Gujarat Tourism on the G20 theme of ‘One Earth, One Family, One Future’.
ii.Apart from Ahmedabad, the International Kite festival will also be organised in Surat, Vadodara, Rajkot, Dwarka, Somnath, Dhordo, and Kevadia.
About Malaysia:
Prime Minister (PM) – Anwar Ibrahim
Capital – Kuala Lumpur
Currency – Malaysian Ringgit (MYR)
