The opening of the G20 summit in Rome, Italy… Whether to reach an agreement on ‘coal-free’ (comprehensive)

Face-to-face meeting for the first time in 2 years… Discussion on overcoming climate change and pandemic crises

It is also coordinated to reach 70% of the world’s population vaccinated by the middle of next year.

(Rome = Yonhap News) Correspondent Seong-hoon Jeon = The 16th G20 Summit was held in Rome, Italy on the 30th (local time) with the theme of ‘People, Planet, and Prosperity’. It started.

This summit, scheduled for two days until the 31st, is the first face-to-face meeting since 2019.

The 15th meeting in November last year, which was chaired by Saudi Arabia, was held over video in the aftermath of the novel coronavirus infection (COVID-19).

This year’s conference consisted of the first session on the international economy and health sector, the second session focusing on climate change and the environment, and the third session on sustainable development.

The key agendas are ▲ response to climate change ▲ overcoming the pandemic crisis and recovery of the global economy ▲ resolution of the energy crisis.

Above all, the issue of climate change is expected to be the biggest issue.

It is evaluated that it can serve as a touchstone for determining the success or failure of the 26th United Nations Framework Convention on Climate Change (COP26), which will open in Glasgow, UK on the 31st of this month.

As the G20’s greenhouse gas emissions account for more than 75% of the world’s greenhouse gas emissions, what kind of agreement is reached within the G20 framework will inevitably affect the direction of COP26.

UN Secretary-General Antonio Guterres also urged an ambitious and practical attitude, saying that COP26 will be ’empty-handed’ if it fails to produce results at the G20 summit.

The top priority is to establish an effective ‘action plan’ under the common recognition that it is necessary to keep the global average temperature rise within 1.5℃ compared to pre-industrial levels.

At this meeting, as the tasks to be pursued, a step-by-step ‘coal removal’ plan, including the phased out of coal power plants, cessation of financial support for domestic and foreign coal power plants, and the abolition of fossil fuel subsidies, will be heavily discussed.

Discussion table include a plan to reduce methane gas emissions by 30% in 2030 compared to 2020 and a plan for advanced countries to fulfill their past commitments to provide US$100 billion (about 117 trillion won) by 2025 to help developing countries respond to climate change climbs on

However, at present, it is unclear whether meaningful results will be derived from climate change issues.

The attitude of China, Russia and India, the world’s largest greenhouse gas emitters, is a big variable.

These countries are known to be very passive in responding to the coal-extinguishing task.

China and Russia have proposed a ‘net-zero’ or carbon-neutral target for carbon emissions by 2060, 10 years later than other countries, and India has rejected even this.

There are also pessimistic observations that it is uncertain whether it will even be possible to put in the joint statement (communique) the phrase that it will comply with the previous international agreement to limit the increase in global average temperature to within 1.5℃.

Regarding overcoming the pandemic crisis, it is known that the focus will be on the issue of equitable distribution of the COVID-19 preventive vaccine.

Leaders are expected to make last-minute coordination to include in a joint statement the specific goal of ensuring that 40% of the world’s population can receive the vaccine by the end of this year and 70% by the middle of next year.

In addition, the global economic recovery from the post-pandemic and the stabilization of high-flying energy prices are also on the table for discussion.

The digital tax agreement signed by 136 countries led by the Organization for Economic Cooperation and Development (OECD)/G20 Comprehensive Implementation Framework (IF) earlier this month will also be officially ratified at this G20 summit.

The agreement is based on a global minimum tax rate of 15% on large multinational corporations and a taxation of excess profits earned by these corporations in each market country. The implementation date is 2023.

Chinese President Xi Jinping, who has given up on going to Rome, Russian President Vladimir Putin, Japanese Prime Minister Fumio Kishida, and Mexican President Andres Manuel López Obrador will attend the meeting via video.

The G20 was founded in 2008 when the need for coordination and cooperation between major economies with large economies emerged as a result of the global financial crisis. The first summit was held in Washington in November of that year. G20 countries account for 60% of the world’s population, 80% of gross domestic product (GDP), and 75% of trade volume.

lucho@yna.co.kr

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2021/10/30 18:27 Send