South African President, Cyril Ramaphosa has said that trade restrictions are a major source of risk for global food price stability, while supporting the call for multilateral trading systems that are transparent, inclusive, predictable and rules-based.
Ramaphosa made this known in his working session remarks on Food and Energy Security at the G20 Leaders’ Summit in Bali, Indonesia on Monday, adding that low and middle income economies are most affected by the resultant food shortages.
The South African President further said there’s need for substantial financial support to ensure food security and tackle the effects of climate change.
“With this support, low and middle income countries can invest in climate-smart agriculture, sustainable food production systems and climate change early warning systems”, he said.
As Climate change has increased the frequency and the severity of droughts, floods and wildfires, disrupting agricultural production and supply with the conflict between Russia and Ukraine has hiked global prices of fuel, fertilisers, edible oil, sugar and wheat.
Ramaphosa stated that South Africa welcomes Indonesian Presidency’s focus on just and sustainable energy transitions.
“We are, however, concerned at the lack of progress on key issues in the multilateral negotiations at COP27, especially with respect to loss and damage, finance, technology, capacity building, adaptation and the just transition.
“The outcomes of both COP27 and this Leaders’ Summit must reaffirm the principles of equity and ‘common but differentiated responsibilities and respective capabilities’.
Industrialised countries in the G20 need to demonstrate more ambitious climate action and must honour their financial commitments to developing economies”.
He promised that South Africa will continue to contribute its fair share to the global climate change effort through a just transition that supports sustainable development.
While calling for continued G20 support for the African Renewable Energy Initiative as a means of bringing clean power to the continent on African terms. “In this regard this can be best achieved with the African Union joining the G20 as a permanent member.
“It is only through a collective and united response that we can resolve the challenges of food and energy insecurity across our world”, Ramaphosa added.