More than 100 participants, including 95 foreign officials, from G20 governments, guest countries, and international organisations have gathered in Guwahati...
Digital Desk: The first G20 conference in Assam began on Thursday, with Union Minister Sarbananda Sonowal launching the two-day session, which will focus on long-term finance solutions.
More than 100 participants, including 95 foreign officials, from G20 governments, guest countries, and international organisations have gathered in Guwahati for the prominent world grouping's deliberations.
"Today's gathering, which is being hosted in the region of this wonderful land of Guwahati, has a unique meaning to it since communities of varied ethnicity and culture socially dwell in harmony with nature through sustainable practices," Sonowal remarked during his opening speech.
The G20 group is presenting a timely message of sustainable financing to maximise sustainable investment at the '1st Sustainable Finance Working Group Meeting' (SFWGM) in Guwahati, said the Union Shipping, Ports and Waterways Minister.
"There is a growing sense of importance and call for action about placing the global economy on a road towards sustainable development. "There is no doubt that implementing the SDGs in the context of climate change is a top priority for governments all around the world," Sonowal added.
He did, however, emphasise the importance of massive financial resources and investments in order to finance sustainability and climate-related activities.
"Research indicates that billions and trillions of dollars must be mobilised if we are to fulfil both the 2030 Agenda for Sustainable Development and the Paris Agreement goals for climate action," Sonowal added.
Filling this large financial gap will require a collaborative effort from the public and commercial sectors, as well as from the local to the global level, he explained.
"I am confident that our Presidency will drive the empowering of international institutions that adapt to 21st-century realities and direct global governance in the 'decade of action' to deliver the SDGs," Sonowal said.
The social cost of failing to achieve the SDGs should compel us to join forces and leverage synergies to create a better world for current and future generations, he urged group members.
"India's G20 agenda pledges to be inclusive, ambitious, action-oriented and decisive, and of human-centric globalisation. Let us work together to make India's G20 presidency one of healing, unity, and hope," urged the Union Minister.
As said by Ministry of Finance (MoF) Adviser Geetu Joshi, the three main agendas of the Guwahati edition of SFWGM are the mobilisation of timely and adequate resources for climate finance, enabling finance for the sustainable development goals, and capacity building of the ecosystem for financing sustainable development.
The G20 Sustainable Financing Working Group, according to MoF adviser Chandni Raina, strives to mobilise sustainable finance to assist ensure global growth and stability, as well as to encourage the transition to a greener, more resilient, and inclusive society and economies.
Leave A Comment