The meeting was held with the finance ministers of the countries, however they did not reach an agreement. What is the G20 and climate change.
The G20, the forum made up of twenty industrialized and emerging countries, cannot “leave aside” a climate change “that will decimate” their economiess, the secretary of the UN Climate agency, Simon Stiell, warned on Wednesday in London.
“Blaming each other is not strategic” and “leaving aside the climate is not the solution to a crisis that will decimate all the G20 economies and that has already begun to do damage,” declared the leader Grenadian in a speech at Chatham House, a non-governmental organization also known as Royal Institute of International Affairs.
The meeting of the finance ministers of the G20 countries
On March 1, the finance ministers of the G20 countries concluded their meeting in Sao Paulo without reaching an agreement on a joint communiqué due to divisions over the wars in Ukraine and Gaza.
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Photo: G20
However, unlocking the billions of dollars needed for the energy transition and adaptation to global warming in economies developing is a central issue of the international climate negotiations in 2024, both with a view to COP29, in November in Baku, and in the meetings ofl World Bank and the International Monetary Fund, in mid-April.
“The financial power that the G20 deployed during the global financial crisis (in 2008) should be redeployed and aimed squarely at curbing runaway emissions and building resilience now,” he added, in his speech “Two years to save the world”, the executive secretary of the United Nations Framework Convention on Climate Change (UNFCCC).
What needs to be done to save the world according to the G20
He G20 leadershipthat represents 80% of humanity’s emissions, “must be at the center of the solution, as it was during the great financial crisis,” Stiell added. Countries around the world must increase your greenhouse gas reduction goalscurrently insufficient to limit warming to 1.5°C as provided for in the Paris Agreement, recalled the senior UN official.
Simon Stiell also highlighted the “absolutely crucial role” of the G7the group of the seven most industrialized countries in the world, “as main shareholders of the World Bank and the International Monetary Fund.”
“A serious advance in financing the fight against climate change is a prerequisite for developing countries to develop bold new national plans to combat climate change, without which all economies, including those of the G7, will soon be plunged into serious and permanent conflicts,” said the top leader. of the UN on climate issues.
Source: Ambito
