Transition To A Low-carbon Economy And Sustainable Consumption And Production – The Role Of Galeri

To address the interlinkages between development, environment and climate agendas, the G20 has been prioritizing new approaches like Circular Carbon Economy (2020), Creative Economy (2022) and Lifestyles for Sustainable Development (LiFE) (2023), and the Bioeconomy (2024). G20 High-level principles (HLPs) on Lifestyles for Sustainable Development agreed during the G20 Presidency of India, advances Sustainable Consumption and Production (SCP), including through resource efficiency and circular economy, by providing support to SMEs and social entrepreneurship among others. This process entails systemic transformation which needs to be supported through promotion of research and innovation for development, deployment and dissemination of technologies related to SCP and also encourage innovative models of finance. Transitioning to sustainable lifestyles can reduce carbon dioxide (Co2) emissions by 2 billion tones (Gt) per year by 2030 (IEA, 2023). Recently, during the Indian G20 Presidency stakeholders willing to collaborate on alternate economic models and rebalance environmental, economic, and social priorities, came together to form a Global Alliance for Life Economies Research and Innovation (GALERI). GALERI can be an effective vehicle to translate Principles into Action, and promote wellbeing, equity and sustainability through international cooperation and triangular cooperation.