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G20 Rio declaration balances compromise but lacks actionable specifics

Declaration did not capitalise on breakthrough commitment among countries at COP28 in Dubai last year to "transition away from fossil fuels" by setting phaseout targets for this transition

G20, G20 Summit
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Photo: Bloomberg

Business Standard Editorial Comment

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The G20 Rio de Janeiro Declaration, which leaders endorsed on Tuesday, has addressed most of the key issues that roil the world — war, climate change, poverty and hunger, equality, and global governance. In doing so, Luiz Inacio Lula da Silva, better known as Lula, President of host nation Brazil, could claim success in fulfilling his agenda despite differences among leaders on the nuances of the draft and dissenting opinions from Argentina. The language of the declaration, therefore, reflects the degree of compromise within the G20 on a number of issues. But the upshot is a text that is generic