G20 Summit 2023: Addressing macroeconomic worries brought on by climate change will be a top priority.

The macroeconomic concerns presented by climate change are at the top of the agenda as the G20 summit draws close.

The focus of the debate will be a thorough study that was adopted by the finance ministers and central bank governors of the participating countries.

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This report emphasises how crucial international cooperation is in resolving this fairly serious issue.

Will adopt measures to address climate change

The freedom it affords to countries in addressing climate change is one of the report's standout characteristics.

The G20 members will be given a range of options, including "pricing" and "non-pricing" measures, to address the problems caused by climate change.

Notably, Saudi Arabia's reservations about the wording used in the report about the transition to a warmer climate have been deliberately taken into account. Ensuring a more inclusive and fair discussion on this important issue.

However, difficulties still exist because Russia has expressed objection to some aspects of the report, particularly those that deal with the security of food and energy. This poses crucial issues regarding how climate change policies interact with critical areas like food and energy resources.

As a result, India is taking into consideration a nuanced strategy to address Russia's concerns within the joint declaration language as opposed to relegating them to a footnote, as was previously suggested.

G20 Summit will take place on September 9–10, 2023

On September 9–10, 2023, the G20 leaders' meeting is expected to take place. Leaders and delegations from 20 nations will come together in the centre of India's capital city, New Delhi, for the 18th G20 Heads of State and Government Summit, which will mark the conclusion of India's G20 presidency.

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