Shoko Noda, Resident Representative, United Nations Development Programme (UNDP) India.
India’s G20 Presidency is critical as it has come at a time of unprecedented international uncertainty aggravated by the conflict in Ukraine, a compounding cost-of-living disaster as a result of conflict, tightening monetary situations, and unsustainable debt burdens, within the backdrop of an escalating local weather disaster, mentioned Shoko Noda, Resident Representative, United Nations Development Programme (UNDP) India.
“We are very encouraged how the Indian Presidency has focused on some of these critical issues: elevating a Sustainable Development Goal (SDG) action plan to the G20 fora – something that the UN Development System has been calling for since 2015; putting forward an ambitious focus on the intersection of climate and development through its LIFE (lifestyles and environment) proposal; prioritising women-led development, and putting a critical emphasis on financing for development and climate financing as we move forward,” she mentioned in an emailed interview.
The deal with structural points, from how the world adopts digital applied sciences to leapfrog challenges of improvement; to tips on how to construct infrastructure that’s delicate to catastrophe and danger discount; and deal with local weather adaptation and sustainable consumption and manufacturing patterns are additionally a welcome step, she added.
“India’s G20 Presidency can contribute to the global discourse on some of these key challenges and shape policies that can have a far-reaching impact on the world economy and international relations,” Ms Noda mentioned.
“These issues also represent developing country concerns that future Brazilian and South African presidencies can build upon,” she added.
On what steps India ought to take to make sure a profitable Presidency of G20, she mentioned the world welcomed India’s G20 agenda because it signals an inclusivity agenda.
“Macroeconomic implications of food and energy insecurity, climate change, strengthening Multilateral Development Banks (MBDs), financing inclusivity, equitable and sustainable growth, digital public infrastructure, bridging inequalities through women-led development, and climate financing are critical issues for the world, and by bringing them to focus on its Presidency India has already shown greater leadership,” she mentioned.
“Building consensus has been a challenge in the last few meetings. Still, the Indian side was able to help forge a consensus at the G20 Summit in Indonesia, and I am sure it can make it happen under its Presidency too,” she added.
The UNDP prime official mentioned that given the financial slowdown and rising risk of local weather change, India, beneath its G20 Presidency, may amongst different measures, prioritise handing debt disaster in 52 low and middle-income creating economies that are both in debt misery or at excessive danger of debt misery.
“The debt crisis is a systemic, global problem. We need to articulate the next generation of international financial and political institutions to meet this and other current challenges,” she mentioned.
Focus should even be given on local weather financing. “The financing element is integral to accelerating climate action – one of the most pressing issues of our time. As the UN Secretary-General has repeatedly indicated, the world needs clarity now from developed countries on where they are this year on delivering their $100 billion a year promise to support climate action in developing countries,” she mentioned.“And evidence of how they will double adaptation finance to at least $40 billion in 2025, as agreed in Glasgow (COP26),” she added.
Stating that 2023 marks the midway level to attaining the UN Sustainable Development Goals, she mentioned “we are off track”.
“UN Secretary-General António Guterres recently launched a bold new SDG Stimulus Plan – outlining a $500 billion annual stimulus for sustainable development. It urges G20 finance ministers to act quickly and proposes three-point plan to begin responding to systemic risks proposes to inject liquidity, restructure sovereign debt, and lower the cost of long-term lending to developing economies,” she mentioned.
As the India Presidency works in direction of an SDG Action Plan 2.0, the SDG Stimulus – may type a key half, she harassed.
