BBM 301 Management Accounting

Topic:G20 and Rio+20 summit

PRESENTENTED BY- Group 2:

Himanshi MakhijaGagan Kr. PanditAkanksha KumariRavi VermaSarita SinghYogesh Raj Singh

Contents

Introduction

G20: origin and agenda• History• G20 leaders’ chair rotation• Issues covered

RIO+20 SUMMIT• Origin

•Objective•Conference themes•Demonstrations at Rio+20 summit•Participation •Summit meetings•Importance •Outcomes•Issues covered•Conclusion

INTRODUCTION

Took place in Mexico on June 18-19, 2012.

Group of Twenty (G20) Finance Ministers and Central Bank Governors, established in 1999 to connect leading industrial, developing economies discussing issues affecting the global economy.

United people from across the 20 nations to participate in discussions over important issues in international diplomacy, while building friendships across borders.

G20 SUMMIT (3-11 June inclusive in Washington DC, USA) The Group of Twenty (G20) Finance Ministers.

RIO+20 EARTH SUMMIT (11-25 June inclusive in Rio de Janeiro, Brazil)

The United Nations Conference on Sustainable Development, also referred to as Rio+20.

An important step in ongoing international efforts to accelerate progress in achieving sustainable development globally.

Presents an opportunity to re-direct and re-energize political commitment to the three pillars of sustainable development: economic growth, social improvement and environmental protection.

G20-Origin and Agenda

Seventh meeting of the G-20 heads of government.

Held in Los Cabos, Baja California Sur, from June 18–19, 2012.

Pre-planning began in 2010.

Mexico believes the forum can better represent developing countries in both vision and policy.

History

The group was formally inaugurated in September 1999, and held its first meeting in December 1999.

A group photo of the participants of the2008 G-20 Washington summit.

2009 G-20 London summit group photo.

Contd…

2009 G-20 Pittsburgh summit group photo.

2010 G-20 Toronto summit group photo.

Contd…

2010 G-20 Seoul summit group photo. 2011 G-20 Cannes summit group photo.

Contd…

2012 G-20 Mexico summit group photo.

G-20 leaders' chair rotation

Group Nations Group Nations Group Nations Group Nations Group Nations

Group 1

Australia

Group 2

India

Group 3

Argentina

Group 4

France

Group 5

China

Canada Russia Brazil Germany Indonesia

Saudi Arabia South Africa Mexico Italy Japan

United States Turkey — United Kingdom South Korea

Issued covered

Reforming the financial sectorPrevent future crisesFinancial Stability Board(FSB).

Compensation practicesReaffirmed to monitor the effective and consistent implementation of the agreed principles and standards of implementation.

Contd…

Systemically important financial institutions (SIFIs)Reiterated the commitment to make national resolution regimes consistent with the FSB Key Attributes of Effective Resolution Regimes.To strengthen the intensity and effectiveness of the supervision of SIFIs.

Domestic systemically important banks (D-SIBs)Developing a set of principles as a common framework Finance Ministers and Central Bank Governors will review the recommendations at their meeting in November.

Contd…

Shadow bankingLeaders supported continuing work for strengthening the oversight and regulation of the shadow banking system

Credit rating agencies (CRAs)Called standard setting bodies to reduce reliance on CRA ratings in standards, laws and reglations to end mechanistic reliance by market participants.

Fostering Financial Inclusion

Continuing the implementation of the five recommendations of the 2011 Global Partnership for Financial Institution (GPFI) report

Launching the SME Finance Compact as well as endorsing the G20 Basic Set of financial inclusion indicators developed by the GPFI

G20 Financial Inclusion Peer Learning Program

Endorsing the High Level Principles on National Strategies for Financial Education

Meeting the challenges of development

This year, the G20’s Development Working Group (DWG) has built upon the work of previous G20 presidencies, making progress on the range of commitments set out in the Seoul Multi-Year Action Plan, and focused on three priorities: food security, infrastructure and inclusive green growth. Eradicating poverty and achieving strong, inclusive, sustainable and balanced growth therefore remain core objectives of the G20 development agenda, and at Los Cabos G20 Leaders agreed the following: Food security Nutrition Infrastructure Inclusive Green Growth

Enhancing Food Security

Contd…

(i) Increasing agricultural production and productivity

(ii) Preventing and responding to food crises

(iii) Ensuring sustainability in agricultural production

(iv) Adapting to climate change

(v) Improving nutrition

Green Growth

Inclusive green growth, and poverty eradication, can help achieve development and economic goals. Progress was made in the following areas as part of the G20’s commitment to inclusive green growth:

Structural reformClimate financeSustainable infrastructureEmploymentClean energy and energy efficiency

Fight against corruptionThe G20 is committed to fully implementing and enforcing commitments made in this area. At Los Cabos, G20 Leaders agreed the following:

Extended the mandate of the Anti-Corruption Working Group.

Ratification and full implementation of the United Nations Convention against Corruption (UNCAC).

Principles for financial and asset disclosure systems.

Adoption of the revised FATF standards.

Enforcing anti-corruption legislation.

THE RIO+20 SUMMIT RIO+20 SUMMIT

The United Nations Conference on Sustainable Development (UNCSD), also known as Rio 2012, Rio+20, or “Earth Summit 2012”

The third international conference on sustainable development

Aimed at reconciling the economic and environmental goals of the global community.

Hosted by Brazil in Rio de Janeiro from 13 to 22 June 2012

Origin Organized by the United Nations Department of Economic and Social Affairs and included participation from 192 UN member states.

Including 57 Heads of State and 31 Heads of Government, private sector companies, NGOs and other groups.

In 1992, first conference of its kind, the United Nations Conference on Environment and Development (UNCED), commonly referred to as the Rio Conference or Earth Summit.

Objectives

1.Securing renewed political commitment for sustainable development.

2.Assessing the progress and implementation gaps in meeting previous commitments.

3.Addressing new and emerging challenges.

Conference themes

A green economy in the context of sustainable development poverty eradication; and

The institutional framework for sustainable development.

ISSUES COVERED IN THE SUMMIT

Unemployment,decent work and migration.

Sustainable development as an answer to the economic and financial crisis.

Sustainable development for fighting poverty.

Sustainable patterns of production and consumption.

Forests.

Sutainable energy for all

Demonstrations at Rio+20 summit

Demonstration at Rio+20 - Picture shows effigy of Brazilian President Dilma Rousseff with a chainsaw embracing the statue of liberty

Demonstration against the president of Iran Mahmoud Ahmadinejad during the conference

Participation

Summit meetings

1st Preparatory CommitteeHeld from 16–18 May 2010

1st Intersessional Held from 10–11 January 2011 at UN Headquarters, New YorkFocused on discussion of the objectives of the conference, and its two principle themes.

2nd Preparatory CommitteeHeld from 7–8 March 2011, at United Nations Headquarters in New York

2nd IntersessionalHeld from 15–16 December 2011 at United Nations Headquarters in New York.

3rd IntersessionalHeld from 5–7 March 2012 at United Nations Headquarters in New York.

Why Rio+20 is importantThe world today has 7 billion people – by 2050, there will be 9 billion.

One out of every five people – 1.4 billion – currently lives on $1.25 a day or less.

A billion and half people in the world don’t have access to electricity.

Two and a half billion people don’t have a toilet.

Almost a billion people go hungry every day.

Greenhouse gas emissions continue to rise, and more than a third of all known species could go extinct if climate change continues unchecked.

Outcomes

The development of Sustainable Development Goals (SDGs).

Nations agreed to explore alternatives to GDP as a measure of wealth

All nations reaffirmed commitments to phase out fossil fuel subsidies.

All nations reaffirmed commitments to phase out fossil fuel subsidies.

Over 400 voluntary commitments for sustainable development made by Member States.

THANK YOU