G20 leaders from across the world are set to gather for the 17th G20 Heads of State and Government Summit to be held in Bali, Indonesia, on November 15-16. The 2022 edition aims to establish global governance and take action on its priority areas: global health architecture, sustainable energy transition, and digital transformation.
The theme of the G20 Summit 2022 is "Recover Together, Recover Stronger". Indonesia has said its presidency carries the spirit of "recover together" since the world has been facing challenges in all sectors, from health to education to international trade, as an aftermath of the global pandemic that hit the world in 2020 and wreaked havoc. Additionally, the war in Ukraine, increasing costs of living, rising debt and catastrophic impacts from climate change have added to the global crisis. Moreover, the gaps in countries' capacities to address crisis situations have prevented the world from resolving the common problems.
The G20 summit pledges to bring together major developed countries and emerging economies, with recovery, progress and cooperation in mind, to take collective action and resolve global problems to create an inclusive and sustainable foundation for growth.
Host Indonesia has said they are focusing on the three priority sectors — global health architecture, sustainable energy transition, and digital transformation — as the key for a strong recovery, and will through these continue their efforts to ensure the world of equitable access to Covid-19 vaccines, promoting sustainable and inclusive economic development through the participation of MSMEs, and digital economy.
The summit also pledges to improve the collective capacity among countries to secure the shared prosperity among nations through various reform efforts in global taxation, stronger cooperation in fighting corruption, deepening of infrastructure financing, and pushing for a more democratic, and representative international cooperation.
A look at the three pillars of G20 Summit 2022-
Global health architecture
One of the main agendas of Indonesia's G20 summit is to encourage the strengthening of global health resilience and help the global health system be more inclusive, equitable, and responsive to crises. The COVID-19 pandemic has highlighted the need for a stronger and more inclusive health emergency preparedness, response, and resilience architecture across the world. Among other issues, pandemic preparedness and advancing transformative infrastructure post-COVID-19 will be discussed through various forums at the summit.
Digital transformation
The summit plans to bring together all the nations and stakeholders to harness the benefits of the rapid digitalization of the global economy and secure common prosperity in the digital age. Digitalization is the key to restoring the post-pandemic global economic order to be stronger, inclusive and collaborative. Some of the priority agendas that will be discussed under digital transformation at the summit include the acceleration of MSMEs into the digital ecosystem, digital entrepreneurship, and revitalizing the role of women in the workplace by increasing digital capabilities.
Sustainable energy transition
The third agenda of the 2022 G20 Bali summit is to promote an urgent transition of the world towards cleaner and greener energy sources, to ensure a brighter future for the global community. With the increasing impacts of climate change on local and global development, the transition will help tackle environmental challenges and climate change in the future. However, this energy transition requires a very large investment. The summit plans to urge the G20 member countries to provide a platform for investment so that energy sustainability can run optimally. The Bali summit will hold discussions on conversations about the environment and energy in the form of Securing Energy Accessibility, Increasing Smart & Clean Energy Technology, and Promoting Energy Financing.