Thank you for bringing us together again. Let me once again congratulate you for your remarkable G20 Presidency. I would also like to welcome the African Union and President Assoumani at this first G20 meeting as a permanent member. We agreed on substantive outcomes in Delhi, now it is critical that we implement them. And your focus, PM Modi, on development and mutual prosperity is paramount. Especially when the world continues to live many crises and has seen an escalation of destruction and war, and blatant negation of the existing rules-based global order and peace architecture. Be it your attempt, President Putin, to erase the sovereign nation of Ukraine and cause regional instability. If Russia stops fighting, the war is over. Or be it the terrorist group Hamas, that through its attack in Israel on 7 October aimed to trigger a regional war.
Against this background, I am so grateful to all those who have worked tirelessly on a diplomatic solution for the release of hostages from Israel and many other countries and a pause in hostilities. The European Commission will do its utmost to use this pause for a humanitarian surge to Gaza. We have always been the largest donors for Palestinians and we will do even more. We have to break the vicious cycle of violence and work for a two-state solution. This is the only way to ensure lasting peace for Israeli and Palestinian people as neighbours.
In the same vein, we will continue with determination to achieve a just, comprehensive and lasting peace for Ukraine. This builds on the 10-point peace plan of President Zelenskyy. In 10 days, we will meet in Dubai for the start of COP28. The world needs global unity to fight climate change because the effect of climate change disproportionally hits the most vulnerable. We need global emissions to peak before 2025, and phase out unabated fossil fuels. We also need to deliver on climate finance, including on the new Loss and Damage Fund. We need to establish carbon markets and pricing, plus carbon credits. And in Delhi, the G20 recognised that tripling the world's renewable capacity and doubling energy efficiency by 2030 are both key. This is achievable. Let's deliver.
In closing, under India's leadership this year, the G20 has shown that we can agree on issues that matter to our citizens. This spirit of cooperation should continue to guide us during Brazil's Presidency. I very much look forward to your focus on overcoming inequality and poverty, President Lula.
