[Full Text] 2020 G20 Summit Leaders' Declaration

[Asia Economy Reporter Ryu Jeong-min]

[Image source=Yonhap News]

Preface

1. Under the chairmanship of Saudi Arabia, our G20 leaders met for the second time and unite with the conviction that internationally coordinated actions, solidarity, and multilateral cooperation are more important than ever in overcoming the current crisis and realizing the opportunities presented to us in the 21st century through human empowerment, environmental protection, and pioneering new frontiers. We pledge to lead the world in building a robust, sustainable, balanced, and inclusive post-COVID-19 era.

A. Joint Response to Challenges

2. The global COVID-19 pandemic and its unprecedented impacts, including loss of life, livelihoods, and economic damage, have exposed vulnerabilities in our preparedness and response and highlighted the challenges we face collectively. We reaffirm the commitments made at the special summit on March 26, welcome the achievements since then, and will continue to exert all efforts to protect lives, provide special support to the most vulnerable groups, restore our economies to growth trajectories, and protect and create jobs. We express gratitude and support to health and other frontline workers who have responded to the pandemic. We remain committed to supporting all developing and least developed countries where the impacts of COVID-19 on national health, economic, and social sectors are interlinked, paying special attention to the unique challenges faced by Africa and small island developing states.

3. We have mobilized resources to immediately secure the necessary funding for the research, development, manufacturing, and distribution of safe and effective COVID-19 diagnostics, therapeutics, and vaccines. In line with our commitment to incentivize innovation, we will strive to ensure equitable access to diagnostics, therapeutics, and vaccines at affordable prices for all. Accordingly, we fully support our joint response efforts, particularly the Access to COVID-19 Tools Accelerator (ACT-A), including the COVAX Facility, and the voluntary licensing of intellectual property rights. We will work to address remaining funding needs and welcome the enhanced financial support from multilateral development banks (MDBs) to enable countries to access COVID-19 tools as an extension of existing multilateral efforts, encouraging MDBs to further strengthen their support. We recognize that immunity achieved through widespread vaccination is a global public good.

4. Although the global economy contracted sharply in 2020 due to the COVID-19 pandemic, as economies gradually reopen and the positive effects of key policy measures become visible, the global economy is partially recovering. However, the recovery is uneven and highly uncertain, with downside risks increasing due to virus resurgence in some countries, leading some to reintroduce limited health measures. We emphasize the urgent need to control the spread of the virus, a key element in supporting global economic recovery. While preparing for downside risks, we pledge to continue utilizing all available policy tools necessary to protect lives, jobs, and incomes, support global economic recovery, and enhance financial system resilience. We also reaffirm the commitments made by finance ministers and central bank governors in March 2018 regarding exchange rates.

5. We are taking immediate and extraordinary measures to address the health, social, and economic impacts closely related to the COVID-19 pandemic, including unprecedented fiscal, monetary, and financial stability measures consistent with the authority of governments and central banks. Additionally, we ensure that international financial institutions and relevant international organizations continue to provide essential support to emerging, developing, and low-income countries. According to estimates by the International Labour Organization (ILO), we have supported the livelihoods of approximately 645 million people by temporarily expanding social protection measures.

6. The G20 Action Plan sets out the core principles and commitments for navigating this crisis, supporting economic recovery, achieving strong, sustainable, balanced, and inclusive growth, and promoting international economic cooperation. Recognizing that member countries are at different stages of crisis response and that the global economic outlook continues to evolve, we approve the updated G20 Action Plan of October 2020. This Action Plan will enable us to respond swiftly to changing health and economic conditions and to maximize the benefits of ongoing economic, social, environmental, technological, and demographic changes. We also approve the second G20 Action Plan progress report, which provides updated information on the commitments made under the Action Plan. The G20 Action Plan remains a living document, and we request finance ministers and central bank governors to continue regularly reviewing, updating, monitoring, and reporting on its implementation.

7. We commit to implementing the Debt Service Suspension Initiative (DSSI), including its extension until June 2021, allowing eligible countries to defer official bilateral debt repayments. We welcome the progress achieved so far. Preliminary reports from the International Monetary Fund (IMF) and the World Bank Group (WBG) highlight that the DSSI has significantly facilitated pandemic-related spending alongside exceptional financing. The IMF and WBG will continue work on improving the quality and consistency of debt-related data and on procedures proposed to enhance debt transparency. We reiterate the importance of joint efforts by all official bilateral creditors, private creditors, and debtor countries to enhance debt transparency. Our finance ministers and central bank governors will review by the IMF/WBG Spring Meetings in 2021 whether an additional six-month extension of the DSSI is necessary due to economic and financial conditions, with the Paris Club agreeing to this. All official bilateral creditors must fully and transparently implement the initiative. We will continue close coordination on the ongoing implementation of the DSSI to provide maximum support to eligible countries. Private creditor participation remains insufficient, and we strongly encourage private creditors to participate on similar terms upon requests from eligible countries. We urge MDBs to further strengthen collective efforts supporting the DSSI by providing net financial inflows to eligible countries during the suspension period, including any extensions, while maintaining current credit ratings and low funding costs. As of November 13, 2020, 46 countries have requested benefits under the initiative, with deferred debt payments estimated at a total of USD 5.7 billion in 2020.

8. Given the scale of the COVID-19 crisis and the severe debt vulnerabilities and deteriorating outlook in many low-income countries, we recognize that debt responses beyond the DSSI may be necessary on a case-by-case basis. In this context, we approve the Common Framework for Debt Treatments beyond the DSSI, as endorsed by the Paris Club.

9. Our current response to COVID-19 will be a defining moment in our history. Building on the benefits of interconnectedness, we will address vulnerabilities exposed by the crisis, take steps necessary for a stronger recovery, and ensure future generations are safer than ours.

B. Building Resilient and Sustainable Recovery

10. Health: We resolve to strengthen global capacities for pandemic preparedness, prevention, detection, and response. We reaffirm our commitment to fully comply with the International Health Regulations (IHR 2005), improve implementation by supporting countries in need to enhance their response capabilities, and pledge to continue sharing standardized data and information promptly and transparently. We emphasize the critical role of the United Nations (UN) system and agencies, particularly the World Health Organization (WHO), while considering ongoing evaluations of WHO, its accountability for transparency, and the need to enhance its overall effectiveness in coordinating and supporting global pandemic responses and member states' efforts. We acknowledge assessments by relevant international organizations of gaps in pandemic response and look forward to the findings of the Independent Panel for Pandemic Preparedness and Response and the IHR Review Committee, conducted under the World Health Assembly's COVID-19 resolutions. We appreciate Saudi Arabia's initiation of discussions on establishing a framework for access to pandemic response tools and look forward to progress during Italy's upcoming chairmanship.

11. Well-functioning, value-based, inclusive, and resilient health systems are essential to achieving Universal Health Coverage (UHC). We reaffirm the importance of financial support for UHC in developing countries. We welcome the establishment of the Global Innovation Hub for Improving Value in Health, which countries may voluntarily join. We will support and accelerate research and development of new antibiotics, strengthen stewardship of existing antibiotics while ensuring access, continue efforts to address communicable and non-communicable diseases, and respond to antimicrobial resistance and zoonotic diseases based on a One-Health approach.

12. Trade and Investment: Supporting the multilateral trading system is more important than ever. We will strive to create a free, fair, inclusive, non-discriminatory, transparent, predictable, and stable trade and investment environment and keep our markets open. We will continue efforts to foster a friendly business environment by promoting fair competition. We approve the G20 Actions to Support World Trade and Investment in Response to COVID-19. We recognize that the Riyadh Initiative on the Future of the World Trade Organization (WTO) has contributed by demonstrating our political support for essential WTO reforms and providing an additional opportunity to discuss and reaffirm the purposes and fundamental principles of the multilateral trading system ahead of the 12th WTO Ministerial Conference. We acknowledge the need to enhance the sustainability and resilience of domestic, regional, and international supply chains to facilitate stable integration of developing and least developed countries into the trading system and share the goal of promoting inclusive economic growth, including expanding MSMEs' participation in international trade and investment. We recognize that structural issues in some sectors, such as oversupply, may have negative impacts.

13. Transport and Mobility: We resolve to keep global transport networks and supply chains open and safe, ensuring that any COVID-19-related restrictive measures, including those affecting air and maritime crew, are targeted, proportionate, transparent, temporary, and consistent with international obligations. We will continue to seek concrete measures to facilitate the movement of personnel in ways that do not undermine public health efforts.

14. International Financial System: We reaffirm our commitment to strengthening the global financial safety net centered on a strong, quota-based, and adequately resourced IMF. We remain committed to the adequacy review of quotas and will continue IMF structural reforms under the 16th General Review of Quotas, including establishing new quota formulas by December 15, 2023. We urge the IMF to continue exploring additional tools applicable to the evolving crisis based on past crisis experience to meet member countries' needs. We support the IMF's enhanced assistance to address the specific challenges faced by small developing countries. Beyond crisis response, we request the IMF to prepare analyses of external financing needs and sustainable financing options for low-income developing countries over the coming years, and the WBG to scale up operations and introduce innovative financial instruments to mobilize private capital for these countries. We welcome the G20 Reference Framework for Effective Country Platforms and the establishment of country pilot platforms and look forward to further updates from MDBs on progress in this area. We will promote sustainable capital flows and strengthen financial resilience and economic growth in the long term through domestic capital market development.

15. Infrastructure Investment: Infrastructure is a driver of growth and prosperity and is critical for economic recovery and resilience enhancement. We approve the G20 Riyadh InfraTech Agenda, which promotes the use of technology in infrastructure to improve investment decisions, eligibility assessments, and promote quality infrastructure investment for better social, economic, and environmental outcomes. We welcome the G20/OECD report on cooperation with institutional investors and asset managers on infrastructure investment, which reflects investors' views on issues and challenges affecting private infrastructure investment and offers policy options to address them. We look forward to exploring ways for interested MDBs and international organizations to participate flexibly without duplicating other initiatives and to continue this work. We will advance work related to the G20 Principles for Quality Infrastructure Investment.

16. Financial Sector Issues: We adhere to the Financial Stability Board (FSB) principles supporting domestic and international responses to COVID-19, consistent with international standards. We request the FSB to continue monitoring vulnerabilities in the financial sector and to focus on cyclicality, credit quality, and regulatory and supervisory coordination measures. We welcome the FSB's comprehensive review of the March 2020 market turmoil and its forward-looking work plan to enhance the resilience of the non-bank financial sector. The pandemic has reaffirmed the need to strengthen global cross-border payment systems, including remittances, to promote cheaper, faster, more inclusive, and transparent payment transactions. We support the G20 Roadmap to Enhance Cross-Border Payments and request the FSB to monitor progress, review the roadmap, and report annually to the G20 in cooperation with international organizations and standard-setting bodies. We look forward to the FSB completing its evaluation of the effectiveness of "too big to fail" reforms in 2021. We also reaffirm the importance of an orderly transition from LIBOR to alternative reference rates by the end of 2021. Enhancing financial sustainability and inclusion is vital for global growth and stability. The FSB is examining the impact of climate change on financial stability. We welcome increased private sector engagement and transparency in these areas.

17. While responsible technological innovation can provide significant benefits to the financial system and the broader economy, we are closely monitoring these changes and remain vigilant about existing and emerging risks. We support that the issuance of so-called "global stablecoins" should not commence until appropriate design and applicable standards are met, and all relevant legal, regulatory, and supervisory requirements are adequately in place. We welcome reports submitted by the FSB, Financial Action Task Force (FATF), and IMF on so-called "global stablecoins" and other virtual assets. We also expect standard-setting bodies to participate in reviewing existing standards and make adjustments as necessary, considering these reports. We look forward to further IMF work on the macro-financial implications of so-called "global stablecoins" and digital currencies.

18. We support the policy responses related to anti-money laundering (AML) and counter-terrorist financing (CFT) detailed in FATF's paper on COVID-19 and reaffirm our support for FATF as the global standard-setting body for AML, CFT, and proliferation financing. We reiterate our strong commitment to blocking all sources, techniques, and channels of these threats. We recognize the expertise of FATF regional bodies in mutual evaluations and reaffirm our commitment to strengthening the global network among FATF regional bodies. We also urge the full, effective, and timely implementation of FATF standards worldwide. We welcome the strengthening of FATF standards to enhance global efforts against proliferation financing.

19. Digital Economy: Connectivity, digital technologies, and policies have played a key role in strengthening our response to the pandemic and enabling continued economic activity. We note the Policy Options to Support Digitalization of Business Models during COVID-19. We recognize that universal, secure, and affordable connectivity is a fundamental enabler of the digital economy and a catalyst for inclusive growth, innovation, and sustainable development. We acknowledge the importance of trusted free flow of data and cross-border data flows. We reaffirm the role of data for development. While addressing challenges related to privacy, data protection, intellectual property rights, and security, we support promoting an open, fair, non-discriminatory environment, protecting consumers, and enhancing consumer rights. By continuously responding within applicable legal frameworks to these challenges, we can further facilitate free data flows and strengthen trust among consumers and businesses. We recognize the importance of accelerating global internet penetration and bridging the digital divide through collaboration with stakeholders to connect humanity. We acknowledge the importance of enhancing security in the digital economy and welcome the G20 Examples of Practices Related to Security in the Digital Economy. We will continue to facilitate multi-stakeholder discussions to advance innovation and note the Examples of National Policies to Advance the G20 AI Principles to further strengthen a human-centered approach to artificial intelligence. We welcome the G20 Smart Mobility Practices, which contribute to the well-being and resilience of smart cities and communities, as well as the G20 Roadmap toward a Common Framework for Measuring the Digital Economy.

20. International Taxation: We will continue cooperation for a fair, sustainable, and modern tax system globally. We welcome the report on the blueprints for Pillar 1 and Pillar 2 released by the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS). Building on this solid foundation, we pursue further progress on both Pillars and urge the G20/OECD BEPS Inclusive Framework to address remaining issues to reach a globally agreed solution by mid-2021. We welcome the report on tax policy implications related to virtual currencies approved by the G20/OECD BEPS Inclusive Framework. We welcome progress in implementing internationally agreed tax transparency standards and automatic exchange of information. We will continue supporting capacity building for tax administration in developing countries to build sustainable revenue bases.

21. Anti-Corruption: We will continue to lead by example in the global fight against corruption. In this regard, we welcome the inaugural G20 Anti-Corruption Ministerial Meeting. We will pursue global cooperation in pandemic response and approve the G20 Call to Action on Corruption and COVID-19. We resolve to prevent and combat corruption through a multi-stakeholder approach involving international organizations, civil society, media, and the private sector. We welcome the Riyadh Initiative for Enhancing International Anti-Corruption Law Enforcement Cooperation. We welcome the G20 Action on International Cooperation on Corruption and Economic Crimes, Offenders and the Recovery of Stolen Assets. We welcome the improved approach to the G20 Anti-corruption Accountability Report and approve the G20 High-Level Principles for: the Development and Implementation of National Anti-Corruption Strategies; Promoting Public Sector Integrity Through the Use of Information and Communications Technologies; and Promoting Integrity in Privatization and Public-Private Partnerships. By 2021, we will demonstrate concrete efforts, including criminalizing bribery of foreign public officials under Article 16 of the United Nations Convention against Corruption (UNCAC) and advancing related legislation, and aim for all G20 countries to join the OECD Anti-Bribery Convention. We welcome Saudi Arabia's accession to the OECD Working Group on Bribery.

C. Ensuring Inclusive Recovery that Addresses Inequality

22. Sustainable Development: Efforts to end poverty and reduce inequality, ensuring no one is left behind, have become more urgent due to the socio-economic impacts of the pandemic. We approve the G20 Support to COVID-19 Response and Recovery Plan in Developing Countries, G20 Guidelines on Quality Infrastructure for Regional Connectivity, and Financing for Sustainable Development Framework. We will continue to play a leading role in the timely implementation of the 2030 Agenda for Sustainable Development and the Addis Ababa Action Agenda. The Riyadh Update, based on the G20 Action Plan on the 2030 Agenda for Sustainable Development, introduces a new Accountability Framework and emphasizes G20's collective and concrete actions for implementing the 2030 Agenda and Sustainable Development Goals. We will support African countries in overcoming the crisis and seek more sustainable financial support for growth. We reaffirm our continued support for the G20 Initiative on Supporting the Industrialization in Africa and LDCs, the G20 Africa Partnership, the Compact with Africa, and other related initiatives. We remain committed to addressing illicit financial flows.

23. Access to Opportunities: The current crisis continues to disproportionately affect the most vulnerable parts of society economically and socially, increasing the need to develop societies where everyone can access opportunities. We reaffirm our existing commitment to promote inclusive growth and continue efforts to reduce inequality. We support the use of the G20 Menu of Policy Options to Enhance Access to Opportunities for All to respond immediately to COVID-19 and achieve a sustainable, inclusive, and balanced economic recovery. We also approve the G20 High-level Policy Guidelines on Digital Financial Inclusion for Youth, Women, and SMEs, prepared by the Global Partnership for Financial Inclusion. We welcome the 2020 G20 Financial Inclusion Action Plan, which will guide the work of the Global Partnership for Financial Inclusion over the next three years.

24. Employment: Addressing the pandemic's devastating impact on labor markets, including millions of job losses and income reductions, is a priority. We recognize the importance of protecting and promoting quality jobs for all, especially women and youth. We support inclusive, robust, and adaptable social protection access for all, including informal economy workers, and approve the use of Policy Options for Adapting Social Protection to Reflect the Changing Patterns of Work. We recognize the importance of employment policies and businesses that support job creation and promote social dialogue. We will continue to support workers through training and reskilling policies. We acknowledge reports by the ILO and OECD on COVID-19's impact on international labor markets. We approve the G20 Youth Roadmap 2025, supporting the G20 Antalya Youth Goal to reduce by 15% the number of youth at risk of permanent labor market exclusion by 2025. We request the ILO and OECD to continue monitoring this issue. We will continue efforts to eradicate child labor, forced labor, human trafficking, and modern slavery.

25. Empowerment of Women: Many women have been disproportionately affected by the pandemic crisis, and we will strive to ensure that the pandemic does not deepen gender inequality or undermine progress made over recent decades. We recall UN declarations, processes, and calls to action related to the empowerment of women and girls, reaffirm the importance of gender empowerment as a cross-cutting issue in all policy areas, and recognize women as key drivers of economic growth. We will continue to promote gender equality, combat stereotypes, reduce wage gaps, and address unequal distribution of unpaid labor and caregiving responsibilities between men and women. We will strengthen efforts to achieve the Brisbane Goal of reducing the gender labor participation gap by 25% by 2025. We request the ILO and OECD to continue contributing to progress on this goal and look forward to a roadmap under the next chairmanship. We will take measures to remove various barriers to women's economic participation and entrepreneurship. We welcome the launch of EMPOWER, a private sector coalition under the Saudi Arabia chairmanship, aimed at expanding women's leadership and economic representation.

26. Education: We have taken measures to mitigate the impact of the COVID-19 pandemic on education. We emphasize the continuity of education during crises through safe in-person learning and effective, quality remote and blended teaching and learning. Inclusive and equitable quality education for all, including girls, is critical to opening brighter futures and reducing inequality. It is the foundation of personal development, providing children, youth, and adults with the knowledge, skills, values, and attitudes essential to realizing their full potential. We recognize the importance of improving access to and affordability of quality early childhood education and of training and retaining qualified personnel. We acknowledge the value of promoting the globalization of education while respecting national and local laws, regulations, and policies.

27. Tourism: We will continue efforts to promote recovery in travel and tourism sectors from the pandemic in cooperation with stakeholders, including the private sector. We welcome the Tourism Community Initiative as a catalyst for recovery in travel and tourism, including the creative economy. We approve the G20 Guidelines for Inclusive Community Development through Tourism and encourage the use of the AlUla Framework for Inclusive Community Development through Tourism, aimed at job creation, empowering local communities including rural areas, protecting the planet, and preserving cultural heritage. We also approve the G20 Guidelines for Action on Safe and Seamless Travel and welcome the establishment of the G20 Tourism Working Group.

28. Migration and Forced Displacement: We emphasize the importance of joint action to mitigate the pandemic's impact on vulnerable people such as refugees, migrants, and forcibly displaced persons, respond to increased humanitarian needs, and address root causes of migration. We note the 2020 Annual International Migration and Forced Displacement Trends and Policies Report submitted to the G20 by the OECD in cooperation with the ILO, International Organization for Migration (IOM), and UN High Commissioner for Refugees (UNHCR). We will continue dialogue on various aspects of these issues within the G20.

D. Ensuring a Sustainable Future

29. Environment, Energy, Climate: Preventing environmental degradation, conserving, sustainably using, and restoring biodiversity, protecting oceans, pursuing clean air and water, responding to natural disasters and extreme weather events, and addressing climate change are among the most urgent challenges of our time. We commit to protecting the planet and creating a more environmentally sustainable and inclusive future for all as we recover from the pandemic.

30. Ahead of the 15th Conference of the Parties (COP15) to the Convention on Biological Diversity, we strengthen our resolve to conserve our marine and terrestrial environments. We launch the Global Coral Reef R&D Accelerator Platform to preserve coral reefs and the Global Initiative on Reducing Land Degradation and Enhancing Conservation of Terrestrial Habitats to prevent, halt, and reverse land degradation. Building on existing initiatives, we share the ambition to voluntarily reduce 50% of degraded land by 2040. We reaffirm our commitment to reduce additional pollution from marine plastic litter and to end illegal, unreported, and unregulated fishing as outlined in the Osaka Blue Ocean Vision.

31. We emphasize our continued commitment to ensuring stable and uninterrupted energy supply to achieve economic growth while addressing challenges posed by the pandemic. We recognize the importance of accelerating universal access to affordable, reliable energy, including clean cooking and electricity, based on innovation in fuel and technology choices according to national circumstances. In this regard, we acknowledge the importance of utilizing the broadest range of fuels and technologies and leading energy transitions that realize energy security, economic efficiency, environmental sustainability, and safety (3E+S). We recognize the importance of maintaining open, competitive, and free international energy markets while seeking ways to enhance energy security and market stability. We approve the G20 Initiative on Clean Cooking and Energy Access and the G20 Energy Security and Markets Stability Cooperation. We welcome the actions and recommendations of the Energy Focus Group, approved by energy ministers participating in the group, to rebalance energy markets and continue short- and long-term investments. We reaffirm our joint commitment to rationalize and phase out inefficient fossil fuel subsidies that encourage wasteful consumption in the medium term while maintaining support for the poorest.

32. We recognize the importance of system efficiency and national circumstances, the critical importance and ambition of emission reductions, and approve the Circular Carbon Economy (CCE) Platform and the 4Rs (Reduce, Reuse, Recycle, Remove) Framework. The CCE is a voluntary, comprehensive, integrated, inclusive, practical, and complementary approach to managing emissions across all sectors, including but not limited to energy, industry, mobility, and food, to promote environmental management while fostering economic growth. In this context, we acknowledge the various voluntary opportunities and acceleration highlighted by the CCE Guide. We recognize the report of the Climate Management Working Group chair, which can be used as a tool to address sustainability, including climate change, according to national circumstances. We also acknowledge the importance of promoting synergies between adaptation and mitigation, including nature-based solutions and ecosystem-based approaches.

33. Ahead of the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow and the 15th UN Biodiversity Conference (COP15) in Kunming, we reaffirm our support for addressing urgent environmental challenges such as climate change and biodiversity loss while pursuing economic growth, energy security, and energy access for all. Signatories who reaffirmed their commitment to implementing the Paris Agreement at the 2019 Osaka G20 Summit recognize different national circumstances, common but differentiated responsibilities, and respective capabilities, reaffirming their commitment to full implementation of the agreement. These signatories recall the request of the 21st UN Climate Change Conference (COP21) to communicate or update nationally determined contributions (NDCs) reflecting the highest possible ambition, considering implementation means and national circumstances. They reaffirm the importance of international cooperation and emphasize the importance of various financial supports to assist developing countries' adaptation and mitigation efforts under the UNFCCC and Paris Agreement. They also reaffirm the request to communicate long-term low greenhouse gas emission development strategies by 2020. They recall the commitment of developed countries to jointly mobilize USD 100 billion annually by 2020 to meet the needs of developing countries. All G20 members emphasize the need for additional global efforts to advance environmental management for future generations, utilizing all available approaches while maintaining a healthy economy that contributes to growth, quality jobs, and innovation.

34. Agriculture: We reaffirm our commitment to enhancing the efficiency, resilience, and sustainability of food and agriculture supply chains and addressing challenges in food security and nutrition, especially considering the pandemic's impact. To meet the challenge of feeding the global population, responsible investment in agriculture and food systems must increase significantly. We approve the G20 Riyadh Statement to Enhance Implementation of Responsible Investment in Agriculture and Food Systems. We recognize the goal of voluntarily setting country-level interim targets to halve per capita global food loss and waste by 2030.

35. Water: We recognize that affordable, reliable, and safe water, sanitation facilities, and hygiene services are essential to human life and that access to clean water is critical to overcoming the pandemic. We welcome the G20 Dialogue on Water, which promotes voluntary sharing of best practices and fosters innovation and new technologies as a basis for promoting sustainable, resilient, and integrated water management.

36. We appreciate efforts to protect people's health by postponing major public events. As a symbol of humanity's resilience and global solidarity in overcoming COVID-19, we commend Japan's decision to host the 2020 Tokyo Olympic and Paralympic Games next year. We also commend the United Arab Emirates' determination to host the 2020 World Expo next year. We look forward to the 2022 Beijing Winter Olympics.

37. We express gratitude to international organizations for their valuable contributions through reports and technical advice. We commemorate the 75th anniversary of the United Nations. We appreciate the valuable work carried out by G20 Engagement Groups.

38. We express gratitude to Saudi Arabia for successfully hosting the Riyadh Summit and contributing to the G20 process. We look forward to the next meetings in Italy in 2021, Indonesia in 2022, India in 2023, and Brazil in 2024.