The first roundtable, which took place on 15th July 2022, discussed the need for reformed multilateralism and the development of a global agenda that is underpinned by democratic values. Both Germany and India highlighted the importance of the rules-based international order and the fundamental principles of international law.
The second roundtable, which took place on 31st August 2022, focused on the challenges ahead of ensuring “green” multilateralism, such as the lack of a global policy framework on carbon pricing mechanisms, the incentivising of large-scale finance for addressing climate change, and the amplification of tension between existing trade regimes and national policies for climate change. The roundtable sought to identify the role that international financial institutions, national governments, and national development agencies can play in incentivising and unlocking private climate financing. It also discussed whether multilateral groupings such as the G20 should support the development of an international carbon price floor or a similar arrangement.
The third roundtable, which took place on 1st November 2022, addressed the critical questions that India needs to answer as it is preparing itself to assume the G20 presidency, such as which issues to prioritise, which initiatives to take forward from past presidencies, and which nations and institutions to partner with to drive global governance reforms and policies.
Under its G20 presidency, India has a unique opportunity to lead the design of the global economic architecture and set the agenda on both the finance and sherpa tracks. By prioritising critical issues, taking forward past initiatives, and partnering with nations and institutions, India can develop a focused, cohesive, and actionable agenda for its presidency in 2023. This will enable the G20 to steer the global economy towards strong, sustainable, balanced, and inclusive growth and address the critical challenges faced by emerging economies. With a well-crafted agenda and effective leadership, India can help the G20 to make a significant contribution to the world’s economic recovery from the COVID-19 pandemic and towards a more sustainable future.
Overall, the roundtables provided a platform for experts and policymakers to discuss and debate solutions to the most pressing economic and environmental challenges faced by the world today.
