Consider the following statements.

1. P20 is a congregation of Presidents of G20 nations.

2. The P20 group was set up during the G20 Presidency of Canada in 2010.

Which of the statements given above is/are correct?

• Statement 1 (Incorrect): The P20 (G20 Parliamentary Speakers' Summit) is a congregation of Speakers of Parliaments from the G20 nations, not their Presidents (Heads of State). Its goal is to bring a parliamentary dimension to global governance and help implement G20 decisions at the national level.