Page 2 - B20 Summit News Today

ITC Chairman Sanjiv Puri said extreme climate change events are here to stay and companies in India need to adapt their strategies accordingly. Puri emphasized the impact of climate change on the Global South and the need for attention to urban infrastructure and industrial ecosystem design.

India News: NEW DELHI: PM Narendra Modi, during a welcome address at the B20 Summit on Sunday, said the “festive season in India started on August 23 this time wh.

Indias mantra is Virasat Bhi, Vikas Bhi, said Prime Minister Narendra Modi in his video message to G20 ministers, and delegates in Varanasi. While addressing the meeting, the PM said, India is using technology to ensure better preservation of its cultural heritage. In the nearly 9-minute-long video the prime minister also extended his greetings to the ministers and other delegates who gathered in the temple town for the mega G20 event.

The risk of existential viability of earth has to be put a step above the business viability of earth, said Uday Kotak, MD and CEO, of Kotak Mahindra Bank at the B20 summit on Saturday. The theme of the session was “Financing the Climate Transition”.

Industry leaders at the B20 Summit India 2023 discussed the challenges of inclusion in a world marked by geopolitical fragmentation, trade protectionism, and climate change. Roopa Purushothaman, Tata Sons Chief Economist, highlighted the worsening inequality within countries, while International Chamber of Commerce Secretary General John Denton noted that inequality has not been diminishing globally.

PM Modi to address B20 Summit India in Delhi on 27 August. B20 Communiques 2023 summit includes 54 recommendations and 172 policy actions for G20 submission.

“We must make sure that the energy transition is both rapid and orderly,” BP CEO Bernard Looney told the B20 summit. “It needs to be rapid because every year since Paris (climate agreement), the emissions have risen in the world with the exception of the pandemic,” Looney said, adding that if the transition is not orderly, it would “impact the pace of the transition”.

Addressing the B20 Summit India on the theme

Kotak Mahindra Bank Chairman Uday Kotak on Saturday pitched for businesses to finance climate transition with the government supporting them in terms of gap-funding. Stating that the risk of existential viability of the Earth has to be kept above the business viability, Kotak said businesses need to go beyond capital which expects returns and opt for capital that is ready to take losses.

Tata Sons Chairman N Chandrasekaran stated that Indias growth journey will have a significant impact on the worlds future during his address at the B20 summit. He emphasized Indias commitment to equitable growth, sustainability, climate action, and innovation. Chandrasekaran also mentioned that India is projected to achieve an average growth rate of 7% over the next decade.