The G20 summit in Rio concluded with a fragile consensus on climate finance, following intense negotiations overshadowed by escalating violence in Ukraine and stalled U.N. climate talks in Azerbaijan.
Leaders of the world’s largest economies, responsible for 80% of global emissions, agreed to encourage voluntary contributions from wealthier developing nations, such as China, while avoiding binding obligations. U.N. Secretary General António Guterres urged the G20 to lead on funding reforms, calling it essential for addressing global warming.
The deal, however, faces uncertainty with U.S. President-elect Donald Trump’s plans to withdraw from the Paris Agreement, jeopardizing financing efforts.
Brazil’s “Mission 1.5” campaign to limit global warming to 1.5°C is now tied to ambitious G20 action, including mobilizing $1 trillion annually for developing nations.
“The goal is achievable,” said Bahamas Prime Minister Philip Davis, “but only with massive G20 leadership and resources.”
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