The United Nations climate chief, Simon Stiell, has called on G20 nations to take decisive action to resolve deadlocks at COP29 negotiations, where key climate finance agreements for developing countries hang in the balance.
Speaking on Saturday as negotiations continued in Baku, Azerbaijan, Stiell emphasised the critical role of G20 leaders, who are set to meet in Rio de Janeiro on Monday. “As G20 Leaders head to Rio de Janeiro, the world is watching and expecting strong signals that climate action is core business for the world’s biggest economies,” he said.
At the heart of the discussions is a proposal for an annual $1.3 trillion commitment to help developing nations adapt to climate impacts and transition to renewable energy. This figure is over ten times the current contributions from donors like the US, the EU, and Japan.
However, the negotiations remain gridlocked over the final amount, the financing mechanisms, and the list of contributors. Developed nations insist that countries such as China and wealthy Gulf states should also contribute to the fund.
The current draft text spans 25 pages, reflecting the unresolved issues. Negotiators have worked through the night in an attempt to narrow differences before ministers arrive next week for the summit’s final stage.
Stiell warned of the urgency, stating, “Here in Baku, negotiators are working around the clock on a new climate finance goal. There is a long way to go, but everyone is very aware of the stakes, at the halfway point in the COP.”
He stressed that progress outside COP29, particularly at the G20 level, is “mission-critical.”
The summit is seen as a key moment for climate finance, with developing countries—those least responsible for global emissions—demanding stronger support from wealthier nations.
The G20 summit in Brazil provides a crucial opportunity for the world’s largest economies to deliver on climate finance commitments. Their decisions could unlock progress in Baku and set the stage for meaningful action against the escalating climate crisis.
