by MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – SOUTH Africa’s presidency of the G20 will prioritise strengthening disaster resilience and response, ensuring debt sustainability for low-income countries, mobilising climate finance for a just energy transition and harnessing critical minerals for sustainable development.
This is according to President Cyril Ramamaphosa as he opened the G20 Foreign Ministers’ Meeting at Nasrec in the commercial capital – Johannesburg.
He emphasised the need for international financial institutions and the private sector to scale up post-disaster recovery efforts, particularly in vulnerable nations.
The president said with many developing economies burdened by high borrowing costs, G20 leaders must renew efforts in addressing debt sustainability, especially in Africa.
Ramaphosa urged developed nations to fulfill their obligations in supporting developing economies’ green energy transitions, in line with global climate agreements.
He proposed an inclusive G20 framework on green industrialisation and investment to promote value addition and beneficiation of critical minerals.
The Foreign Ministers Meeting is taking place under South Africa’s G20 Presidency theme of “Solidarity, Equality and Sustainability.”
“Africa is home to some of the world’s fastest-growing economies and faces unique challenges, such as the impact of climate change, development needs and the effects of global trade dynamics,” Ramaphosa said.
“The Summit’s location underscores the need for African voices to be heard on critical global issues, like sustainable development, the digital economy and the shift toward green energy,” he added.
The G20 is an intergovernmental forum comprising 19 sovereign countries, the European Union (EU) and the African Union.
– CAJ News