Leaders of the Group of 20 major economies meet on Tuesday to discuss sustainable development and the transition to cleaner energy, as they aim to increase the odds of a successful deal to address global warming at UN climate talks in Azerbaijan.
The host of the COP29 climate summit a day earlier had made a plea for G20 countries to send a positive signal on the need to tackle climate change and provide clear mandates to help save talks that had bogged down in Baku, Azerbaijan.
With the world on track for its warmest year on record, leaders are seeking to shore up efforts to address climate change before Donald Trump retakes the US presidency in January. He is reportedly preparing to exit the Paris Agreement on climate change and roll back US policy on global warming.
In a joint statement issued late Monday, the G20 leaders called for “rapidly and substantially increasing climate finance from billions to trillions from all sources” to pay for the response to climate change.
G20 leaders agreed that COP29 negotiators need to reach a deal on a new financial goal for how much money rich nations must provide to poorer developing nations in climate finance.
But while the G20 statement said nations need to resolve the issue, they did not indicate what the solution should be at the UN summit slated to end on Friday.
