Top emitters urged to provide concrete climate action despite G20 leaders reaffirming 1.5C goal [ABS-CBN News]
The G20 Media Center was set abuzz as members of the information desk announced the joint communique is ready for public view. A draft communique seen by some the night before showed that G20 leaders will close their summit in Indonesia this week with a strongly worded statement against Russia’s aggression in Ukraine. But climate advocates have been waiting on bated breath as there were fears major economy leaders are backtracking on their pledge to limit global warming to 1.5C.
G20 declaration provides momentum as COP27 nears end, but falls short in energy transition [PhilStar]
Leaders of the Group of 20 nations renewed their commitment to keep alive the goal of limiting global warming to 1.5 degrees Celsius and recognized the need to phase down the use of unabated coal, giving hope to boost the climate summit in Egypt.
Vulnerable economies call for accelerated financial shift
Bali, 14 Oct 2018 – Finance Ministers from the V20 Group of climate vulnerable countries today sought large-scale changes to global finance flows, saying the funding shift needs to happen sooner, covering far larger amounts that can help protect economies from the worsening impacts of climate change. Convening at the World Bank-IMF Meetings in Bali, V20 countries said “the need to unlock investments for ambitious climate action is not only urgent but an absolute necessity given combined impacts from economic and climatic threats.” In its official communique, the group expressed fear that continued over-reliance on carbon-intensive energy systems is [...]