CSEET current affairs - SUMMITS AND CONFERENCES

• SUMMITS AND CONFERENCES G7 SUMMIT About G7 G7 originally came into being in 1975 when the heads of the world’s six leading industrial nations- the US, UK, France, Germany, Japan and Italy , Canada joined in 1976, Russia joined in 1998 and suspended in 2014. Current members are - US, UK, Canada, France, Germany, Italy and Japan. The group regards itself as “a community of values”, with freedom and human rights, democracy and the rule of law, and prosperity and sustainable development as its key principles. G7 Summit 2023 In 2023, as the G7 Presidency, Japan hosted the Summit on May 19-21 in Hiroshima. Major Outcomes

• Hiroshima Vision Statement on Nuclear Disarmament - Commitment to achieving a world without nuclear weapons with undiminished security for all through taking a realistic, pragmatic, and responsible approach.

• They are also expected to discuss ways to strengthen international cooperation to prevent the spread of nuclear weapons.

• Support for Ukraine - G7 leaders reaffirmed their commitment to supporting Ukraine by providing additional military and financial assistance in its war against Russia.

• Announced new sanctions against Russia, including a ban on the import of Russian gold.

• De-risking not decoupling from china - Countering China›s economic coercion. Pledged to work together to promote fair and open trade.

• Addressing the global food crisis - New initiative to provide $5 billion in food assistance to countries that are most affected by the crisis.

• To increase food production and to reduce food waste.

• Investing in clean energy and infrastructure - Invest USD 600 billion in clean energy and infrastructure over the next five years.

• To make clean energy more affordable and accessible.

• Compensating for the developed world’s contribution to global warming and greenhouse gas emissions.

Protecting human rights and democracy -

• To provide humanitarian assistance to the Afghan people.

• Condemned the human rights abuses in China, Russia, and other countries.

• The global health crisis - Discussed about the global health crisis and to discussed ways to strengthen the global health system.

G-7 Summit 2022

The 48th G7 summit - Schloss Elmau, Krün, Bavarian Alps, Germany.

• Sustainable planet

• Economic stability and transformation

• Healthy lives

• Investment in a better future

• Stronger together

Major Outcomes

Communique- The G7 leaders adopted a communique to jointly defend universal human rights and democratic values, the rules-based multilateral order and the resilience of democratic societies.

Ukraine- The G7 leaders re-emphasised their condemnation of Russia’s illegal and unjustifiable war of aggression against Ukraine.

G7 countries have pledged and provided EUR 28 billion in budget aid and are strongly committed to support Ukrainian reconstruction through an international reconstruction plan.

Energy and food security- The G7 leaders committed to phase out our dependency on Russian energy.

They ensured to secure the energy supply and reduce price surges by exploring additional measures such as price caps.

The G7 countries will also increase global food and nutrition security through the Global Alliance on Food Security.

Economic issues- The G7 leaders remain committed to coordinate on economic security, strengthen the resilience of supply chains while tackling rising costs of living for citizens.

Climate and the environment- The G7 leaders endorsed the goals of an international Climate Club to accelerate the implementation of the Paris Agreement.

The G7 leaders committed to:

A highly decarbonised road sector by 2030

A fully or predominantly decarbonised power sector by 2035

Prioritising the acceleration of the phase-out of domestic unabated coal power

Investments- The G7 countries have launched the Partnership for Global Infrastructure and Investment (PGII), a joint initiative to fund infrastructure projects in developing countries.

Through the partnership, they aim to mobilise USD 600 billion over the next five years to narrow the global investment gap.

Building on their existing partnership with South Africa, G7 will work towards new Just Energy Transition Partnerships with Indonesia, India, Senegal and Vietnam.

Health- The G7 leaders reaffirmed their commitment to equitable global access to safe, effective and affordable vaccines, therapeutics, diagnostics and other essential medical goods.

Leaders also endorsed the G7 pact for pandemic readiness.

Democratic values- The G7 leaders will also cooperate with civil society and partners to:

Strengthen the resilience of our societies

Promote human rights online and offline

Address disinformation

Achieve gender equality

UTTAR PRADESH GLOBAL INVESTORS SUMMIT 2023

Uttar Pradesh Global Investors Summit (UPGIS) 2023 was held from 10-12 February 2023 at Lucknow. It was the flagship Investment Summit of the Government of Uttar Pradesh. The 3-day long Investors Summit brought together policy makers, corporate leaders, business delegations, academia, think-tanks and Political and Government leadership from across the globe, to collectively explore business opportunities and forge partnerships.

Key Highlights of the Summit

1. In three days, a total of Rs. 33.50 lakh crore investment proposals were received in the UP Global Investor Summit.

2. The state government launched a new online system called ‘Nivesh Sarathi’

3. The Uttar Pradesh government has also included sports in this summit.

4. UK companies signed 6 MoUs in the security, technology and defense sectors at the UK partner country session on the last day of the UP Global Summit.

5. In the Uttar Pradesh Global Investors Summit, investors from Singapore signed an MoU worth Rs 29,000 crore for spiritual and eco-tourism in Uttar Pradesh.

6. Uttar Pradesh Global Investors Summit 2023 is one of the major summits of the Government of Uttar Pradesh.

7. The Uttar Pradesh Global Investors Summit 2023 set an ambitious target of making the state a USD is an initiative aligned with Prime Minister Narendra Modi’s vision to make India a USD 5 trillion economy, for which the Uttar Pradesh government has 5 years1 trillion economy in the next.

8. The summit saw the 20 participations of more than 10,000 delegates from more than (domestic and international) countries.

9. In December 2022, for UPGIS 2023 the state government had organized various road shows in different countries and in major cities of India, to attract investors and increase investment in Uttar Pradesh.

10. Several progressive economies such as the United States, the United Kingdom Canada, Japan, South Korea, Singapore, Germany, the Netherlands and the United Arab Emirates have been ‘partner countries’ at the summit.

WORLD INVESTOR WEEK 2022

The International Organization of Securities Commissions (IOSCO) celebrated the sixth annual World Investor Week (WIW) from 3 to 9 October 2022. The events were focusing on innovations that are reshaping the marketplace, such as sustainable finance and crypto assets, and on the current challenging environment that requires enhancing investor resilience. The World Investor Week is a global campaign supported by securities regulators and IOSCO stakeholders around the world.

The campaign started with different global and regional launching events, such as the Ring the Bell Ceremonies for Financial and Investor Education in New Zealand and Poland, and video messages in Japan and France, ahead of other regional kick-off events in Angola and Brazil.

About IOSCO

IOSCO is the leading international policy forum for securities regulators and is recognized as the global standard setter for securities regulation. The organization’s membership regulates more than 95% of the world’s securities markets in some 130 jurisdictions, and it continues to expand. IOSCO aims through its permanent structures:

• to cooperate in developing, implementing and promoting internationally recognized and consistent standards of regulation, oversight and enforcement to protect investors, maintain fair, efficient and transparent markets, and seek to address systemic risks;

• to enhance investor protection and promote investor confidence in the integrity of securities markets, through strengthened information exchange and cooperation in enforcement against misconduct and in supervision of markets and market intermediaries; and

• to exchange information at both global and regional levels on their respective experiences to assist the development of markets, strengthen market infrastructure and implement appropriate regulation.