Mon 01 November 2021:
Apart from many other concrete resolutions on “sustainable and inclusive growth (of) Countries…across the world,” world leaders at the recently concluded Group of Twenty (G20) Summit committed to the objective of reducing global warming to 1.5°C through “meaningful and effective actions.”
The G20 leaders gathered in Rome issued a final declaration in which they pledged to “accelerate steps” in 2020 in order to make meaningful contributions to long-term “net zero” policies. The G20 participants also agreed to mobilize $100 billion in climate funds each year until 2025.
G20 Leaders on Sunday reiterated their commitment to the 2015 Paris Agreement’s goal of limiting the global average temperature to 1.5°C above pre-industrial levels.
According to a communique after the summit of G20 leaders in Rome hosted by term president Italy, the leaders agreed that the “impacts of climate change at 1.5°C are much lower than at 2°C.”
“Keeping 1.5°C within reach will require meaningful and effective actions and commitment by all countries,” it said, adding they look forward to a successful 26th United Nations Climate Change Conference (COP26) in Glasgow, Scotland this week.
Although global economic activity has been “recovering at a solid pace, thanks to the roll-out of [coronavirus] vaccines and continued policy support,” the recovery is “exposed to downside risks” due to new Covid-19 variants and uneven vaccination paces, it added.
“We remain vigilant to the global challenges that are impacting on our economies, such as disruptions in supply chains. We will work together to monitor and address these issues as our economies recover and to support the stability of the global economy,” it added.
Noting that the effects of climate change are particularly affecting the poor and the vulnerable, the G20 leaders recalled and reaffirmed “the commitment made by developed countries to the goal of mobilizing jointly USD100 billion per year by 2020 and annually through 2025 to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation and stress the importance of meeting that goal fully as soon as possible.”
The statement also put “women and girls, who have been disproportionately affected by the pandemic, at the core of our efforts to build forward better.”
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