South Africa focuses on debt sustainability, energy transition in inaugural G20 meeting

Minister of International Relations and Cooperation, Ronald Lamola, and director-general Zane Dangor (right), at the first G20 Sherpas Meeting in Johannesburg.

Minister of International Relations and Cooperation, Ronald Lamola, and director-general Zane Dangor (right), at the first G20 Sherpas Meeting in Johannesburg.

Published Dec 10, 2024

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South Africa will use its Group of Twenty (G20) Presidency to secure urgent progress on shared goals through several priority actions such as strengthening disaster resilience and response, ensuring debt sustainability for low-income countries, mobilizing finance for a just energy transition, and harnessing critical minerals for inclusive growth and development.

This was said by Minister of International Relations and Cooperation, Ronald Lamola, at the first G20 Sherpas Meeting in Johannesburg.

The Sherpa Track is led by the personal representatives of G20 leaders, and oversees negotiations and discusses the points that form the summit’s agenda, and coordinates most of the work.

This comes as South Africa commenced with the first engagement of the more than 130 meetings that will precede the G20 Summit in November 2025 after assuming G20 Presidency this month.

Lamola said three temporary Task Forces, an Initiative and a Commission will be established during South Africa’s G20 Presidency as part of its efforts to bring the Sherpa and the Finance tracks closer together.

He said priorities will include inclusive economic growth, industrialisation, employment and reducing inequality; food security; and Artificial Intelligence, data governance and innovation for sustainable development.

“A review of the work of the G20, “The G20 at 20 years”: A Reflection on Key Achievements and the Way Forward, will also feature as one of South Africa’s deliverables through a Sherpa Track Initiative. South Africa also proposes the establishment of a Cost of Capital Commission during its G20 Presidency,” Lamola said.

“The three Task Forces, the Initiative and Commission, will be established to deliver tangible results at the South Africa G20 Presidency. All of the priorities, as well as the overall theme, will influence Working Groups’ priorities and work plans.”

Lamola also said multilateral institutions must be strengthened and reformed to deliver broad global consensus and serve as platforms to resolve disputes, now more than ever.

He said South Africa will also use this G20 platform to shine the spotlight on agenda 2063 of the African Union.

“The multilateral institutions with economic and developmental mandates must be strengthened, as the need for their intervention is even much bigger now,” he said.

“While international cooperation and multilateralism are currently confronted with divisive geopolitics, unprecedented challenges such as climate change, slow economic growth, and deepening poverty, the G20 must make strides in forging practical, mutually beneficial cooperation that champions an international order that is fairer, just, inclusive, and representative.”

Meanwhile, the Presidential Climate Commission (PCC) yesterday expressed its support and confidence South Africa’s presidency of the G20.

Dr Crispian Olver, the incoming PCC deputy chairperson, said this was an exciting time for South Africa as it was the first African nation to preside over and host the G20 Summit.

“South Africa’s G20 presidency provides a platform for our country to highlight the instrumental role of Africa and developing nations in tackling the globe’s socio-economic issues,” Olver said.

“South Africa will use this forum to highlight the interests of Africa and the developing world, as well as achieve lasting solutions to challenges faced by developing countries across the world.”

The PCC received an update from the Minerals Council of South Africa on the announced plans by various mining houses to cut jobs at various mines in Mpumalanga due to ongoing unprofitability resulting from a combination of factors, including decreased coal prices, disruptions in transport and rail logistics and general market instability.

The Commission reiterated the need to avoid the devastation resulting from coal mine closures and called for measures to ensure that investment and operational decisions are fair for workers and communities that heavily rely on the coal mines for the basic services, employment and entrepreneurial opportunities.

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