G20's Fragile Climate Consensus Amid Global Tensions

The G20 summit in Brazil reached a tentative agreement on climate finance, resolving issues that had stalled U.N. talks. Despite ongoing disputes, the focus remains on mobilizing funds to address climate change, especially with the looming return of Donald Trump, who may withdraw the U.S. from the Paris Agreement.

The G20 summit in Brazil witnessed delicate negotiations as world leaders grappled with climate finance, achieving a consensus previously elusive at the U.N. talks in Azerbaijan. Major economies gathered in Rio de Janeiro to discuss pressing global issues, including escalating violence in Ukraine following a Russian airstrike.

Attention is primarily on G20 countries, which represent 85% of the global economy and are significant contributors to climate finance through multilateral development banks. U.N. Secretary General Antonio Guterres called upon these nations to demonstrate leadership in combating climate change, urging them to increase support for developing countries and reform financial institutions.

Despite reaching an agreement on voluntary contributions from developing nations, the discussions remain fraught, particularly with the potential policy shifts under U.S. President-elect Donald Trump. The future success of the COP29 and upcoming COP30 climate summits hinges on substantial international commitment to limiting global warming.

(With inputs from agencies.)