Leaders of the world’s 20 largest economies will be converging at the upcoming 12th G20 Summit on 7-8 July 2017 at Hamburg, a major port city in northern Germany. The topics that are expected to dominate the discussion include counter-terrorism and economic reforms.
The Indian delegation at the summit would be led by Prime Minister Narendra Modi. Some members of the delegation include NITI Aayog vice-chairman, India’s G20 Sherpa Arvind Panagariya and the Department Of Economic Affairs Secretary.
The theme of the summit this year is shaping an interconnected world and it has been mainly organised around three pillars- Stability, Sustainability and Responsibility. So besides terrorism, the platform is also expected to initiate discussions on issues such as free and open trade, environment, climate change, migration, sustainable development and global stability.
Paris Climate Accord
• The summit would also open discussions on the 2015 Paris Climate deal, the fate of which is yet to be decided following US President Donald Trump’s shocking announcement stating withdrawal of US from the global climate pact.
• European leaders have vowed to defend the landmark Paris climate pact at the summit.
• The leaders of Germany, France, Italy and other EU economies have highlighted that the protectionism and isolationism symbolised by Trump's "America First" stance will not solve global problems.
• German Chancellor Angela Merkel specially mentioned that the 2015 Paris deal is not negotiable.
• Meanwhile, US President Donald Trump has strongly defended his decision to pull out of the Paris climate accord, declaring himself proud of the move.
The Paris Agreement commits signatories to make efforts to reduce greenhouse gas emissions that cause global warming, which is blamed for melting ice caps and glaciers, rising sea levels and other violent weather events.
The United States is the world's second largest emitter of greenhouse gases after China and so, its withdrawal from the accord may have serious consequences on the world.
• The G20 is the central forum for international cooperation on financial and economic issues.
• It was founded in 1999 with the aim of studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability.
• It seeks to address issues that go beyond the responsibilities of any one organization.
• The group is made up of 19 countries and the European Union including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the USA.
• The G20 countries account for more than four-fifths of gross world product and three-quarters of global trade and are home to almost two-thirds of the world’s population.