The ongoing climate crisis and conflicts in Ukraine and the Middle East were central topics on the first day of the G20 summit in Brazil on Monday. In a joint statement, the leaders of the world’s major economies expressed deep concern for the humanitarian crises in Gaza and Ukraine, while also emphasizing the need for global cooperation on poverty reduction, tax reform, and addressing climate change.
Ahead of the summit, UN climate chief Simon Stiell called on G20 leaders to break the deadlock in climate financing negotiations at the upcoming COP29 talks in Azerbaijan. The summit, set to focus on securing funding for climate adaptation and mitigation in developing countries, comes as major economies hold the financial power to mobilize billions of dollars.
The G20’s statement on Monday reaffirmed the urgency of “rapidly and substantially increasing climate finance from billions to trillions from all sources.” However, while leaders agreed that negotiators at COP29 should settle on a new financing goal for how much rich countries should contribute, they refrained from specifying a clear solution. There remains a contentious debate over whether the contributor base should expand to include wealthier developing nations such as China and Middle Eastern countries, who have faced resistance from developed nations.
As the summit continues, G20 leaders are expected to focus on sustainable development and the transition to cleaner energy. With climate action on the line, much of the global focus will be on the negotiations at COP29, where leaders hope to secure a new financial framework before the potential return of Donald Trump to the U.S. presidency. Trump has previously threatened to pull the U.S. out of the Paris climate accord and reverse key climate policies, heightening the urgency for the G20 to make meaningful progress in addressing global warming.
BY: MOSES DESIRE KOUYO
