For the first time, all G20 countries have committed to achieving a balance between emissions and removal by sinks by or around the middle of this century.
The G20 recognises that all countries worldwide must implement climate action measures in order to keep 1.5 °C within reach. For the first time, all G20 countries have committed to achieving a balance between emissions and removal by sinks by or around mid‑century. This sends an important signal to the international community and industry in support of a climate-neutral future. Moreover, the G20 countries acknowledge that to achieve the goals agreed in Paris they must step up their efforts and enhance their 2030 NDCs. This is crucial, as the current NDCs are steering us towards global warming of 2.7 °C. The G20 is responsible for 75 percent of global emissions, and therefore has a particular duty to act.
Negotiations were difficult, but the G20 succeeded in following the G7 countries on a key issue: Financing of new unabated coal power generation (for example without carbon capture, utilisation or storage) abroad will be halted by the end of this year. This means international public funds will no longer be provided for electricity generation from coal. No reference is made to other coal infrastructure, including mining, or other fossil energy sources. At the same time, the G20 commits to mobilising public and private finance to support green, inclusive and sustainable energy development.
In spite of these important steps, the G20 fell short of expectations in some areas. We would have especially liked to see more tangible commitments on the phase-out of domestic coal-fired power generation and the removal of fossil fuel subsidies.
The G20 stresses that poor and vulnerable countries in particular need support on climate change mitigation and adaptation. In recent months, many developed countries have announced that they will raise their climate finance. The G20 took note of the Climate Finance Delivery Plan, presented by State Secretary at the BMU, Jochen Flasbarth together with his Canadian colleague Jonathan Wilkinson. The plan indicates that the 100 billion dollar goal can be reached by 2023 at the latest. Moreover, the G20 commits to scaling up adaptation finance.
The G20 Declaration sends an important signal to the United Nations Climate Change Conference in Glasgow. Now the international community must set a course ensuring that, in this critical decade of the 20s, all countries implement the more ambitious climate measures that are needed.