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.
V20 and G7 jointly launch Global Shield against Climate Risks at COP27
The Vulnerable 20 Group of Finance Ministers (V20) of 58 climate vulnerable economies and the Group of Seven (G7) today officially launched the Global Shield against Climate Risks, an initiative for pre-arranged financial support designed to be quickly deployed in times of climate disasters. Initial contributions include around EUR 170 million from Germany and more than EUR 40 million from other countries. In addition, a broad coalition of countries, multilateral institutions, non-state and private sector partners has underlined their full institutional commitment to Global Shield. The first recipients of Global Shield packages – called Pathfinder countries – include Bangladesh, Costa Rica, Fiji, Ghana, Pakistan, the Philippines and Senegal.
CVF Calls Glasgow Climate Pact ‘Broken’, Following New Assessment of NDCs
The Climate Vulnerable Forum (CVF) today at COP27 issued a major new report which uses a traffic light approach to show that G7 and G20 major economies are stuck on ‘red’ in terms of their NDCs’ alignment with the 1.5ºC goal of the Paris Agreement.
Green foundation urged for recovery
Efforts to counter climate change must be built into plans for a global economic recovery from the pandemic, Indonesia's environment chief said in urging countries in the G20 to promote "environmental multilateralism". Indonesia holds the 2022 presidency of the grouping, which brings together the 20 major developed and developing economies.