Ministry of External Affairs Government of India

Excellencies,
Distinguished Members of G-77

We have just concluded a successful G77 Summit in Havana and appreciate Cuba for its efforts in hosting the Summit, and convening this Ministerial Meeting.

2. It has been a hectic High-Level Week. SDG Summit, the High-Level Dialogue on Financing for Development, the Climate Ambition Summit, and prepping for the SOTF. Now we conclude it with this important meeting.

3. In a sense, our discussions and outcomes today coincide with the initiatives that India has pursued in recent times, and during its Presidency of the G20. A ground-breaking achievement was the inclusion into the G20 of the African Union as a permanent member, and as a permanent voice of the Global South within the G20. This sits perfectly with the theme of our discussions today, because the African continent now has a significant role in decision-making on global economic and financial issues. This is an unprecedented and seminal development.

4. The call to strength of our common cause began early this year in January with 125 countries in the Voice of the Global South Summit which showed the direction to our G20 Presidency. Ergo, 32 of the 87 deliverables from the G20 Summit have been in the interest of the Global South.

5. I take this opportunity to speak about some key initiatives in the areas of finance, climate action, health and energy that will positively impact this membership.

• The G20 has agreed for more effective MDBs by enhancing their operating models, improving responsiveness and accessibility, and substantially increasing financing capacity for development impact.
• There is greater momentum in the G 20 to scale up investment and climate finance; developed country parties are expected to meet the USD 100 billion climate finance goal per year, for the first time, in 2023. Ambitious, transparent and trackable New Collective Quantified Goal (NCQG) for climate finance will be finalised in 2024.
• The Global Initiative on Digital Health (GIDH), launched in Gandhinagar last month, aims to develop a WHO-managed network for standards-based digital health transformation through convergences in digital health from around the globe. The potential role of evidence-based Traditional and Complementary Medicine (T&CM) in health and WHO’s efforts led to the first-ever Global Traditional Medicine Summit this year.
• On energy, the G20 High-Level Voluntary Principles on Hydrogen will help drive the production, utilization, and global trade of hydrogen produced from zero and low emission technologies and its derivatives such as ammonia, with an aim to decarbonize hard to abate sectors and contribute to global net zero GHG emissions/carbon neutrality. A Green Hydrogen Innovation Centre is to be set up at the International Solar Alliance. The Global Biofuel Alliance will facilitate the global uptake of Biofuel by facilitating technology advancements, intensifying utilization of sustainable Biofuel, shaping robust standard setting and certification through the participation of a wide spectrum of stakeholders.