World leaders convene at 'Summit of the Future' to address global crises

“We, the Heads of State and Government, representing the peoples of the world, have gathered at United Nations Headquarters to protect the needs and interests of present and future generations through the actions in this Pact for the Future,” the pact, a copy seen by Daily Monitor reads in part.

“We are at a time of profound global transformation. We are confronted by rising catastrophic and existential risks, many caused by the choices we make. Fellow human beings are enduring terrible suffering. If we do not change course, we risk tipping into a future of persistent crisis and breakdown.

“Yet this is also a moment of hope and opportunity. Global transformation is a chance for renewal and progress grounded in our common humanity. Advances in knowledge, science, technology, and innovation could deliver a breakthrough to a better and more sustainable future for all. The choice is ours.”

The pact includes two annexes; the Global Digital Compact—that establishes an inclusive global framework, essential for multi-stakeholder action required to overcome digital, data and innovation divides—and the Declaration on Future Generations—that reinforces responsibility of the present generations to ensure that the needs and interests' future generations are fully safeguarded.

The UN Secretary General, Mr António Guterres, first called the Summit of the Future during the 75th anniversary of the United Nations in 2020 as the world was under strain of the Covid-19 pandemic and various climate disasters including rise in water levels.

Uganda as the current chair of the G77+ China alliance rallied member countries to reach consensus on the pact.

G77+China, established in 1964, brings together 135 countries making it the largest inter-governmental organisation of the UN. China, the world’s second largest economy, is not fully a member of the alliance but maintains observer status and attends annual meetings hence tag ‘G77+China.

The months-long negotiations on the pact for the next 50 years climaxed last Friday evening amid attempts by Russia, Pakistan, Syria, Iran, Egypt and North Korea to scurry consensus which was attained by G77 and the European Union coalescing.

Finance target

Some of the salient action points include accelerating the reform of the international financial architecture so that poor countries can borrow sustainably to invest in their long-term development, which has been a long-standing concern for developing countries.

The pact “strengthens the multilateral response to support countries with high and unsustainable debt burdens, with the meaningful participation of the countries concerned and all relevant actors, ensuring an approach that is more effective, orderly, predictable, coordinated, transparent and timely to enable those countries to escape debt overhang and prioritize government expenditure on the achievement of the Sustainable Development Goals”

The pact tasks the Bretton Woods institutions—the International Monetary Fund (IMF) and World Bank— “to undertake a review of ways to strengthen and improve the sovereign debt architecture, building on existing international processes, in collaboration with the Secretary-General, the World Bank, the Group of 20 and major bilateral creditors, and request that the Secretary-General update Member States on progress and present proposals on this issue.”

Uganda’s Permanent Representative to the UN Adonia Ayebare yesterday described the consensus on the pact as “a highlight of Uganda’s chairmanship of the G77” and “certainly it (document) contains a lot of gains for developing countries.”

“As you can see developing countries have some win on debt. Previously debt review was a preserve for the Bretton Woods but now the UN General Assembly will have a say. Secondly, the UN's Resident Coordinator system (that ensures the coordination of all UN organisations) will now be funded through a central budget at the UN as opposed to previously where donor countries would deal directly with the respective agencies in host countries. The entire document is good as a blueprint for multilateralism,” Ambassador Ayebare said.

Uganda assumed the one-year rotational chairmanship—coordinated at the Mission in New York— of the G77+China alliance during the South-South summit held at the Speke Resort Convention Center in January.

Other action points in the pact are, UN Security Council reforms, strengthening international cooperation for the exploration and use of outer space for peaceful purposes, developing a framework on measures of progress on sustainable development to complement and go beyond gross domestic product, accelerating the reform of the international financial architecture so that it can meet the urgent challenge of climate change, and redoubling efforts to build and sustain peaceful, inclusive and just societies and address the root causes of conflicts.

The pact particularly comes at a time of a highly polarised world, first occasioned by Russia's invasion of Ukraine in February 2022 and intensified last October by tensions on the powder keg in the Middle East.

The two-day Summit of the Future ends today, followed by the 79th session of the UN General Assembly under the theme “Leaving no one behind: acting together for the advancement of peace, sustainable development and human dignity for present and future generations.” President Museveni delegated Ms Nabbanja to represent.

[email protected]