The Banking Executive, Issue 155, November 2021

2021 G20 Rome Summit water resources are globally at risk due to anthropogenic pres- sure. We will continue to share innovation and best practices, also as a means to support inte- grated water resources manage- ment, including through the G20 Dialogue on Water and the G20 Water Platform adopted under Saudi Presidency. 18. We commit to intensify our ac- tions to conserve, protect, restore and sustainably use marine bio- diversity and reiterate our com- mitment to the Global Coral Reef R&D Accelerator Platform launched under Saudi Presi- dency. We highlight the impor- tance of parties to UNCLOS making progress as soon as pos- sible in the ongoing negotiations for an ambitious and balanced international legally binding in- strument under UNCLOS on the conservation and sustainable use of marine biodiversity of areas beyond national jurisdiction. In the context of the Antarctic Treaty System, we fully support, and encourage further progress to implement the long-standing commitment of the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR), recognizing Marine Protected Areas (MPAs) can serve as a powerful tool for protecting sensitive ecosystems representa- tive of the Convention Area, in particular in East Antarctica, the Weddell Sea and in the Antarctic Peninsula. We reaffirm our com- mitment to prohibit fishing sub- sidies that contribute to overfishing and overcapacity, in line with the SDGs. In line with the Osaka Blue Ocean Vision, we reaffirm our commitment to end Illegal, Unreported and Un- regulated fishing and to address marine plastic litter, building on the initiatives conducted, inter alia, by the UNEA, in view of strengthening existing instru- ments and developing a new global agreement or instrument. 19. Acknowledging the urgency of combating land degradation and creating new carbon sinks, we share the aspirational goal to col- lectively plant 1 trillion trees, fo- cusing on the most degraded ecosystems in the planet, and urge other countries to join forces with the G20 to reach this global goal by 2030, including through climate projects, with the involvement of the private sector and civil society. 20. Cities and Circular Economy. We commit to increase resource effi- ciency, including through the G20 Resource Efficiency Dia- logue and recognize the impor- tance of cities as enablers of sustainable development and the need to improve sustainability, health, resilience and well-being in urban contexts as underlined by the Habitat III New Urban Agenda. With the involvement of businesses, citizens, academia and civil society organizations, we will enhance our efforts to- wards achieving sustainable con- sumption and production patterns and management and reduction of emissions, including by adopting circular economy approaches, and will support local actions for climate mitiga- tion and adaptation. We endorse the G20 Platform on SDG Local- ization and Intermediary Cities, with the support of the OECD and UN-Habitat. We will sup- port intermediary cities in adopt- ing integrated and inclusive urban planning; accelerating their transitions towards clean and sustainable energy and sus- tainable mobility for all; improv- ing waste management; fostering empowerment and decent work for women, youth, migrants and refugees; assisting disabled and elderly persons; enhancing food systems sustainability; and en- abling more equitable access to digital innovations. Partnerships like the Coalition for Disaster Re- silience Infrastructure could act as a vehicle to accelerate this agenda. 21. Energy and Climate. Responding to the call of the scientific com- munity, noting with concern the recent reports of the IPCC and mindful of our leadership role, we commit to tackle the critical and urgent threat of climate change and to work collectively to achieve a successful UNFCCC COP26 in Glasgow. To this end, we reaffirm our commitment to the full and effective implemen- tation of the UNFCCC and of the Paris Agreement, taking action across mitigation, adaptation and finance during this critical decade, on the basis of the best available scientific knowledge, reflecting the principle of com- mon but differentiated responsi- bilities and respective capabilities, in light of different national circumstances. We re- main committed to the Paris Agreement goal to hold the global average temperature in- crease well below 2°C and to pursue efforts to limit it to 1.5°C above pre-industrial levels, also as a means to enable the achievement of the 2030 Agenda. 22. We recognize that the impacts of climate change at 1.5°C are much lower than at 2°C. Keep- ing 1.5°C within reach will re- quire meaningful and effective actions and commitment by all countries, taking into account different approaches, through the development of clear national pathways that align long-term ambition with short- and medium-term goals, and with in- ternational cooperation and sup- port, including finance and technology, sustainable and re- sponsible consumption and pro- duction as critical enablers, in the context of sustainable devel- opment. We look forward to a successful COP26. the BANKING EXECUTIVE 42 ISSUE 155 NOVEMBER 2021