G20 Venice 2021: What will be the new climate policies?


Carbon tax, circular economy, clean and energy, support for developing countries: works on tools for a more sustainable and comprehensive economy.

The Ministers of Finance and the Governors of the Central Bank (MFGBC) met in Venice on 9 and 10 July 2021 as part of the G20 2021. However, the G20 Symposium on Climate Change took place before the Ministers’ Meeting. Three important points emerge from this press Official press release On the cell Weather:

  • The Fighting climate change is a priority And urgent Monetary policy Can contribute to the cause In an effective and comprehensive manner;
  • To achieve carbon neutrality by 2050 Coordinated policies are needed At the international level (Versatility);
  • To achieve climate goals, a Mixture of tools It varies according to national characteristics, level of technological development and available resources.

The 2021 Venice G20 is committed to a series of fieldings Concrete activities A ‘Economy It really is Excellent and green. G20 members believe, in fact, i The risk of climate change threatens growth And abundance. They therefore decided to systematically integrate these risks into future rigorous political discussions and “global risk monitoring and preparation.” This is a plan to monitor risk and learn how to deal with it effectively and immediately.

Suggestions for the G20 in Venice: Things to do for the environment

To reachZero CO2 emissions target by 2050 (According to the 2019 UN Convention signed by 66 countries), the statement of yes in the official statement List practical activities To be accepted:

  • Invest Basic facilities Sustainable
  • Support Technologies Advanced e Green
  • decarbonizzare Pure sources favor energy sources
  • EncourageCircular economy
  • Eliminate subsidies for fossil fuels
  • Fix one Carbon tax, I.e. taxing carbon (today CO2 costs only $ 3 per tonne)
  • To give Incentives Adoption Renewables
  • Support developing countries Mainly the economy is carbon based
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In fact, in these matters, the Italian presidency of the G20 a Report for the October 2021 meeting. The International Monetary Fund and the Organization for Economic Co-operation and Development (OECD) are responsible for preparing this document.

International Climate Conference in Venice: Themes of the debate

On July 11, representatives of the economic sector met for the International Climate Conference as part of the 2021 Venice G20. Economic recovery under the banner of environmental sustainability is the will of all G20 members. Topics based on: Environmental change: the aim Build low carbon economies and communities. If you go Green investment e Multinational Development Banks. It will help the economies of developing countries with incentives to promote green change. Another thing discussed was about communication: it is necessary Disclose reliable financial data e Effective strategies. Coordinating policies at the international level ensures that, in fact, all countries benefit from them. And mutual exchange Dialog Allow both Learn good practices Where they worked, both Apply them horizontally Depending on the circumstances.

At the G20 meeting in April 2021, finance ministers and central bank governors announced that environmental protection was a priority. At the April meeting, to be precise on the subject of climate Italian President Reported Two main results. First, he updated Action plan A chapter on the G20 is included Protection of the planet. Second, the Sustainable Financial Studies Group has become a working group (Working group). The working group, recognized by world leaders, can and will refer governments to the next steps Develop a map of green goals.

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The Treaty of Venice was a major result of the imposition of taxes on multinational corporations

The 2021 Venice G20 International Climate Conference led to the signing The agreement is defined as “historic”, That is the agreement in Venice. That’s how it goes Fine To the race for corporate taxation, Financial dumping In technical language. To be clear, the contract is divided into two points. First, you fix one Multinational companies are taxed at a minimum rate of 15%. Moreover, these will have to be done Tax the profits of the countries in which they operate. This is the first time a similar milestone has been reached. Despite the excitement, there are still three dubious European countries, namely Ireland, Hungary and Estonia. France, meanwhile, wants a rate of more than 15%. So we’re really looking forward to the official summons from the Heads of State and Heads of Government to be held on October 30 and 31 at the G20 Summit in Rome.

Protests from environmentalists over who they are and why they oppose the G20

Outside the G20 buildings, peaceful demonstrations and violent street clashes marked another facet of the meeting. The message is unique and clear: no G20. Two groups on the streets: “Rebellion of extinction”, “We are the tide, you are only the G20”, i.e. “We are the tide, you are only the G20”. “Riots of Extinction” It defines itself a Movement International Not violent Born from below To respond to the climate crisis. The team asks three things. First, it’s me Governments are telling the truth Environmental emergency in progress; That’s it Greenhouse gas emissions Get to it Zero by 2025; Finally, it’s aCitizens’ Conference with Governments. The movement believes G20 Suggest Not enough solutions To significantly reduce pollution. In addition, the G20 It is not democratic Because it does not include the community. Group He asks To the authorities Action plans with time limits, Without precise tools Clarity in the use of funds.

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We are the tide, you are the G20 onlyIs a platform Against decisions Taken in palaces as well as Partnership People and contradictory. “July 11 sent a clear message: There is a social opposition to the government’s model of envisioning privilege for a few and misery for many. […] To resist, even in a paradoxical way And to those who rule over us ”. These are the words you can read on the movement’s Facebook page. G20 It represents an economic system Group Not sharing. In their opinion, in fact, today’s society focuses only on profit, not yes Maintain the well-being and health of the people. For this reason they suggest Basic income For all intents and purposes, a production system that is set up Is in the community center And Active role Of Citizen In the decision-making process.

Also read:

The green economy of companies is functioning. Here is the reason

Here’s how the green economy will change Venice

G7 2021 Summit: From China to Kovid, to the Future of the Global Economy

Climate Summit 2021: When promoting dialogue between environmental superpowers

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