High Ambition Coalition Urges G20 to Enhance Climate Financing and Divest from Fossil Fuels

The High Ambition Coalition (HAC) has called on G20 nations to increase climate action financing and shift from fossil fuel investments. The group emphasizes the need for collaboration and substantial funding to meet climate goals, as discussed during COP29. Slow progress in previous UN talks has raised concerns about meeting new targets.

The High Ambition Coalition (HAC) has made an urgent appeal to G20 nations, calling for increased climate action financing and a decisive shift away from fossil fuel investments.

In a formal letter to the G20, the HAC stated that global collaboration is crucial now more than ever to gather as much funding as possible to tackle the escalating climate crisis.

The HAC highlighted that G20 countries, which account for about 80 percent of global emissions, have the resources and responsibility to bring a global change in climate action financing ahead of COP29 in Baku, Azerbaijan.

(With inputs from agencies.)