Significant progress has been made globally in adopting green energy. Technological advances, easier availability of capital and regulatory measures have helped. But progress is likely to slow due to the shocks caused by Covid-19 and the Ukraine crisis. How to continue the green transition whilst ensuring that lower-income countries have access to affordable energy? This Task Force offers recommendations for India’s G20 Presidency.
Gateway House is the only institution in India that has hosted official and independent meetings under the annual G20 process since 2015. In October 2022, Gateway House initiated an independent G20 Task Force on Energy Transitions and Climate Finance, the first task force of India's G20 Presidency of 2023. In this compendium of reports, Gateway House assesses and includes its engagement with this influential multilateral through task forces, research and meetings of the last nine G20 Presidencies.
The author participated in the B20 Summit in Bali and saw in it a reflection of Indonesia’s culture and hospitality, but also its attraction for investors despite geopolitical stresses. Indian business can take a cue from Indonesia, and use India’s B20 engagement to push for ease of doing business and improved quality of life indicators – an additional condition for India’s G20 Presidency’s success.
India has not invested much in multilateral rule-making institutions like the G20, but it is never too late to start. India is ahead in some aspects, particularly technology with digital public goods and its governance. But it will certainly need help and expertise.
Indonesia has managed its G20 Presidency year by understanding the importance of not going it alone. This trading nation has used its deep regional and multilateral cooperative processes which provided trusted back-up and support at every step, and was book-ended by strong linkages and investment partnerships with Japan and Australia. In this, it has laid the groundwork for India’s 2023 presidency.
G20 President Indonesia, hosted the Think-20 (T20) Summit in Bali 4-6 September. The recommendations of the working groups resonate in the Leaders’ Statement released at the G20 Leaders’ Summit. The T20 Task Force on Open Trade, Sustainable Investment and Industry published its notes on multilateral trade reform, digital trade, health. Yose Rizal Damuri of CSIS, is the Lead Co-Chair of this Task Force.
Since 1947, India has had a proud record of development cooperation. It began even though it was newly independent and itself developing, but created a camaraderie with movements in other emerging countries. Now after 75 years, its time to move toward an FDI-led model, which will particularly help reduce the rising indebtedness in the developing world.
The Indo-Pacific region envisages the Indian and Pacific Oceans as a continuum and stands on two central pillars – maritime security and economic development. The public discussions, however, are focused on maritime security, strategy and geopolitics, while economic development has received less attention. This imbalance can be corrected by creating an awareness on how to harness the potential of the region's Blue Economy and its vast resources and opportunities.
The G7 has reached out to emerging economies which have, of late, been facing challenges on the economic front, brought on by the lingering pandemic and the mismanagement of the Ukraine crisis. They are also seeking, from the global south, a broader acceptance of their world view. Will it be forthcoming?
Holding one of the G20 meetings in Jammu and Kashmir is a bold, audacious and timely move. It is possible because of the ceasefire along the Line of Control which has been holding since February 25, 2021. The new geopolitical setting offers India an opportunity to diplomatically disdain the Chinese, camping not too far away in the un-demarcated border areas with India.