The Secretary-General proposed a Climate Solidarity Pact and an Acceleration Agenda to expedite efforts to combat climate change. Regarding the SDGs, he called for concrete measures, including an SDG Stimulus of at least $500 Regarding the SDGs, he called for concrete measures, including an SDG Stimulus, an effective debt workout mechanism, changes in Multilateral Development Banks, increased liquidity through Special Drawing Rights, and a shift away from fossil fuel subsidies.
“I have put forward concrete measures that would yield immediate benefits that include an SDG Stimulus of at least $500 billion per year, an effective debt workout mechanism to support payment suspensions, longer lending terms and lower rates on fairer terms to developing countries in distress,” he said.
“A meaningful capitalisation and change in the business model of Multilateral Development Banks to be able to massively leverage private finance at reasonable cost to developing countries. A more substantive rechannelling of unused Special Drawing Rights to increase liquidity where it is needed most. And a shift in subsidies – away from fossil fuel to more sustainable and productive uses,” he said.
Responding to questions, the Secretary-General emphasized the responsibility of G20 countries to address climate change and climate justice. He acknowledged the challenging global context, which includes the Russia-Ukraine conflict, technological developments, and climate change. He called on G20 countries to assume their responsibilities in light of these challenges.
“Divisions are growing, tensions are flaring up, and trust is eroding – which together raise the spectre of fragmentation, and ultimately, confrontation. This fracturing would be deeply concerning in the best of times – but in our times, it spells catastrophe,” he said.
Regarding India's presidency, he commended India for its strong focus on the development agenda and its representation of global South interests within the G20. The Secretary-General recognized the importance of bridging mistrust between the global North and South and highlighted the necessity of strengthening and reforming multilateralism to achieve this goal. He acknowledged India's significant role on the world stage and emphasized the need to reform the UN Security Council to reflect today's realities.
Regarding the Russia-Ukraine conflict, he stressed the importance of mediation efforts while expressing uncertainty about an immediate resolution.
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