RIO DE JANEIRO, Nov 19 ( Alliance News): Leaders from the G20 major economies gathered on Tuesday to discuss sustainable development and the transition to cleaner energy, aiming to secure a successful climate deal at the UN climate talks in Azerbaijan.
The discussions come after the host of COP29, Azerbaijan, urged G20 countries to send a positive message about tackling climate change and providing clear mandates to help advance stalled talks.
With the world heading towards its hottest year on record, the urgency of addressing climate change has grown. There is concern over the potential impact of a Donald Trump return to the U.S. presidency in January, as he is expected to exit the Paris Agreement and reverse U.S. climate policies.
In a joint statement, the G20 leaders called for significantly increasing climate finance, urging contributions from all sources to support climate change responses.
The leaders emphasized the need for COP29 negotiators to finalize a financial goal for rich nations to provide funding to developing countries. While no specific amount was set, economists suggest the goal should be at least $1 trillion annually.
Developed countries, especially in Europe, argue that the financial responsibility should extend to wealthier developing countries like China and certain Middle Eastern nations.
Meanwhile, developing nations, including Brazil, oppose broadening the contributor base, highlighting the responsibility of developed countries for climate change.
G20 President Luiz Inacio Lula da Silva stressed the global impact of climate change, calling for urgent action. The G20, which controls 85% of the world’s economy and contributes over 75% of climate-warming emissions, plays a crucial role in shaping the climate change response.
The group also committed to finalizing a legally binding treaty to limit plastic pollution by the end of 2024.
