While the statement from the world’s leading economies – and biggest emitters – stopped short of explicit reference of ‘transitioning away from fossil fuels’, to which all nations agreed last year at COP28 in Dubai, the G20 leaders did ‘welcome the balanced, ambitious outcome’ of those talks.
The G20 communiqué comes as the clock ticks down on COP29, which is set to wrap up this Friday in the Azerbaijan capital, Baku. The complex negotiations on new and significantly scaled-up funding for loss and damage and accelerated clean energy goals are moving slowly, as some countries dig into their positions while waiting for others to pull back from their own.
UN climate chief Simon Stiell who earlier warned against brinkmanship and what he called ‘you-first-ism’, said today that G20 leaders sent a clear message to their negotiators at COP29: “A successful new finance goal… is in every country’s clear interests.”
“Leaders of the world’s largest economies have also committed to driving forward financial reforms to put strong climate action within all countries’ reach,” said Mr. Stiell, who is the Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), which convenes that annual COP meetings.
He added: “This is an essential signal in a world plagued by debt crises and spiraling climate impacts, which are wrecking lives, disrupting supply chains, and fueling inflation in every economy.”
‘Failure is not an option’
UN Secretary-General António Guterres, who is in Rio to participate in discussions on sustainable development the combat against poverty and hunger, as well as climate change, noted during a session earlier this morning that Brazil is set to host COP30 next year in the eastern Amazon region.
“Failure [in Baku] is not an option. It might compromise the ambition in the preparation of the new national climate action plans, with potential devastating impacts as irreversible tipping points are getting closer. The preservation of the Amazon is a case in point,” he said.
Missing the opportunity to reach agreement on a new climate finance deal in Baku “would inevitably also make the success of COP30 in Brazil much more difficult,” the Secretary-General said, and added: “I appeal to the sense of responsibility of all the countries around this table to help ensure that COP29 will be a success.”
