G20 Summit: Carbon Neutrality by Middle of the Century and Limiting Global Warming to 1.5°C
G20 leaders adopted a final declaration following two-day Rome summit, acknowledging the need for global carbon neutrality "by or around" the middle of the century, and calling for action to curb rising global warming up to 1.5 degrees Celsius, reports TACC.
"We recognize the need to achieve global net zero greenhouse gas emissions or carbon neutrality by or around the middle of the century," the document said. In addition, the G20 is calling for action to limit the rise in global warming to 1.5 degrees Celsius.
"We recognize that the impact of climate change at 1.5 degrees Celsius is much lower than at 2 degrees. Maintaining [warming] at 1.5 degrees will require meaningful and effective action and commitment from all parties,”the forum participants assured.
G20 leaders will face global challenges affecting their economies, including avoiding supply chain disruptions. “We remain vigilant about global challenges affecting our economies, such as supply chain disruptions. "We will work together to identify and address these issues as our economies recover and maintain the stability of the global economy," the document said.
The participants in the forum also emphasize the crucial role of investments in quality infrastructure for recovery from the pandemic crisis. "We recognize the critical role of investment in quality infrastructure during the recovery phase. We recognize that sustainable, properly funded, well-maintained and optimally managed systems are essential for preserving infrastructure assets throughout their life cycle, minimizing losses and disruptions, ensuring safe and secure supplies and high-quality infrastructure services,”says in the document. At the same time, it is stated that the G20 countries will continue to develop further cooperation between public and private investors to mobilize private capital.
The digital economy
G20 leaders recognize the importance of public policies in creating an open and equitable digital economy. "We understand the importance of policies aimed at creating an inclusive, open, equitable digital economy that promotes new technologies, enables businesses and entrepreneurs to thrive, and provides consumer protection. At the same time, such a policy must address issues related to confidentiality [of personal data], data protection, intellectual property,"the statement said. The parties also note the need to support the digitalisation of small and medium-sized enterprises, the importance of developing digital skills and computer literacy among buyers and producers.
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