12 November 2010: Leaders of the Group of Twenty (G20) met in Seoul, Republic of Korea, on 11-12 November 2010 and adopted: a Leaders’ Declaration; the Seoul Action Plan including a commitment to the Seoul Development Consensus for Shared Growth; and concrete measures summarized in a Multi-Year Action Plan on Development, focusing particularly on the development of infrastructure in developing countries.

According to the Leaders’ Declaration, the G20 express: strong commitment to promptly bring the Doha Development Round to a successful, ambitious, comprehensive, and balanced conclusion consistent with the mandate of the Doha Development Round and built on progress already achieved; and resolute commitment to fight climate change, and spare no effort to reach a balanced and successful outcome at the Cancun Climate Change Conference in late 2010.

The Summit document containing the Seoul Action Plan includes sections on fossil fuel subsidies, climate change and green growth. On fossil fuel subsidies, the G20 leaders: reaffirm their commitment to rationalize and phase out, over the medium term, inefficient fossil fuel subsidies that encourage wasteful consumption, with timing based on national circumstances, while providing targeted support for the poorest; direct finance and energy ministers to report back on progress made in implementing country-specific strategies and in achieving the goals agreed in Pittsburgh and Toronto at the 2011 Summit in France; note the preliminary report of the International Energy Agency (IEA), the World Bank and the Organisation for Economic Co-operation and Development (OECD), and request these organizations, together with the Organization of the Petroleum Exporting Countries (OPEC), to further assess and review progress made in implementing the Pittsburgh and Toronto commitments and report back to the 2011 Summit in France; and recognize the value of the sharing of knowledge, expertise and capacity with respect to programmes and policies that phase out inefficient fossil fuel subsidies.

On climate change, G20 leaders: reiterate their commitment to take strong and action-oriented measures and remain fully dedicated to UN climate change negotiations; reaffirm the objective, provisions, and principles of the UNFCCC, including common but differentiated responsibilities and respective capabilities; commit to achieving a successful, balanced result at the Cancun Conference that includes the core issues of mitigation, transparency, finance, technology, adaptation, and forest preservation; and support and encourage the delivery of fast-start finance commitments. Those that have associated themselves with the Copenhagen Accord also reaffirm their support for the Accord’s implementation. Leaders also acknowledge: the global environmental and economic challenge of ongoing biodiversity loss; the inextricable link between climate change and biodiversity loss; the outcomes of the global study on the economics of ecosystems and biodiversity; and the successful conclusion of the 10th meeting of the Conference of the Parties (COP 10) of the Convention on Biological Diversity (CBD) held in Nagoya, Japan, on 18-29 October 2010.

On green growth, G20 leaders further: commit to support country-led “green growth” policies that promote environmentally sustainable global growth along with employment creation, while ensuring energy access for the poor; recognize that sustainable green growth, as it is inherently part of sustainable development, is a strategy of quality development, enabling countries to “leapfrog” old technologies in many sectors, including through the use of energy efficiency and clean technology; commit to take steps to create, as appropriate, the enabling environment for the development and deployment of energy efficiency and clean energy technologies, including policies and practices in G20 countries and beyond, including technical transfer and capacity building; support the ongoing initiatives under the Clean Energy Ministerial and encourage further discussion on cooperation in research and development as well as regulatory measures, together with business leaders; and request the Energy Experts Group to monitor and report back on progress at the 2011 Summit in France. G20 leaders also commit to stimulate investment in clean energy technology, energy and resource efficiency, green transportation, and green cities by mobilizing finance, establishing clear and consistent standards, developing long-term energy policies, supporting education, enterprise and research and development, and continuing to promote cross-border collaboration and coordination of national legislative approaches.

In the multi-year development action plan, G20 leaders commit to: develop comprehensive infrastructure action plans and assess ways to integrate environmental safeguards into infrastructure development in an effective and cost efficient manner; establish a G20 panel for infrastructure development and provide independent comment in an iterative process to ensure workability, maximization of the outcomes and a focus on environmental sustainability and transparency; and identify, enhance as needed, and promote the best existing developmental, social and environmental standards for responsible investment in value chains and voluntary investor compliance with these standards. [The G20 Leaders’ Declaration] [The Seoul Summit Document] [Development Plan of Action]

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