The G20 leaders' declaration reiterates the need for rapidly scaling up climate finance “from billions to trillions” without any specifics

G20 communique in Rio contains key lines on climate confirming world set to transition away from fossil fuels. UK, New Zealand, and Colombia join coalition to phase out fossil fuel subsidies 12:01 An announcement has just come through that the United Kingdom,

The plea, made in a letter to G20 leaders from UN Framework Convention on Climate Change Executive Secretary Simon Stiell, comes as negotiators at the COP29 conference in Baku struggle in their negotiations for a deal intended to scale up money to address the worsening impacts of global warming.

Leaders of the world’s biggest economies confirmed their support to shift more cash to developing countries to help them cope with climate change.

In Baku, the main objective for the nearly 200 countries gathered for COP29 is to agree a deal on how to provide trillions of dollars in financing for climate projects, with talks on a new finance goal and cutting emissions bogged down.

The draft G20 leaders’ communique focuses on the 2 degree C goal (upper limit of Paris Agreement) and doesn’t mention ‘transitioning away from fossil fuels’ language agreed upon at CO28 in UAE