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G20 talks in Rio reach breakthrough on climate finance, sources say''

By Jake Spring and Lisandra Paraguassu
November 17, 2024 3:59 PM CST Updated 3 hours ago

'Trump essentially campaigned against electric car manufacturing. Trump is protectionist; Musk opposes tariffs.
On climate change, they are opposed'

https://www.reuters.com/world/americas/world-looks-g20-rio-breakthrough-climate-talks-2024-11-17/

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Trump picks oil industry executive, climate change denier to lead Energy Department
Chris Wright, a fossil fuel CEO, has said ‘there is no climate crisis’ and likened Democrats’ efforts to combat global warming to communism
https://www.timesofisrael.com/trump-picks-oil-industry-executive-climate-change-denier-to-lead-energy-department/
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Summary

* U.N. officials urge G20 leaders to break COP29 stalemate
* Wealthy nations asking more countries to foot climate bill
* Climate accord may only get trickier with return of Trump


[1/11] Praia de Botafogo beach, Rio de Janeiro, November 17, 2024. REUTERS/Pilar Olivares

RIO DE JANEIRO, Nov 17 (Reuters) - Diplomatic tensions over global warming spilled over into the G20 summit negotiations in Brazil this week, with sources saying the 20 major economies reached a fragile consensus on climate finance that had eluded U.N. talks in Azerbaijan.

Heads of state arrived in Rio de Janeiro on Sunday for the G20 summit and will spend Monday and Tuesday addressing issues from poverty and hunger to the reform of global institutions. The talks must now also grapple with how to address escalating violence in Ukraine after a deadly Russian airstrike on Sunday.

Still, the ongoing U.N. climate talks have thrown a spotlight on their efforts to tackle global warming.

While the COP29 summit in Baku, Azerbaijan, is tasked with agreeing a goal to mobilize hundreds of billions of dollars for climate, leaders of the Group of 20 major economies half a world away in Rio are holding the purse strings.

G20 countries account for 85% of the world's economy and are the largest contributors to multilateral development banks helping to steer climate finance.

"The spotlight is naturally on the G20. They account for 80 percent of global emissions," U.N. Secretary General Antonio Guterres told reporters in Rio de Janeiro. He expressed concern about the state of the COP29 talks in Baku and called on G20 leaders to do more to fight climate change.

"Now is the time for leadership by example from the world's largest economies and emitters," Guterres said.

U.N. climate chief Simon Stiell wrote a letter to G20 leaders on Saturday imploring them to act on climate finance, including boosting grants for developing nations and advancing reforms of multilateral development banks.

However, the same fights that have plagued COP29 since it began last week became central to G20 negotiations, according to diplomats close to the Rio talks.

[...]

https://www.reuters.com/world/americas/world-looks-g20-rio-breakthrough-climate-talks-2024-11-17/