The G20 Summit, held in Rome from 30th to 31st of October, is of ground-breaking importance as it sets the agenda for the COP26 climate talks taking place shortly afterwards in Glasgow, UK. If all G20 members were to adopt mid-century net zero commitments and align their Nationally Determined Contributions (NDCs) with a 1.5°C pathway, a 1.5°C trajectory at least remains within reach.1
G20 countries also have a particular responsibility to mobilise financial support for international climate action particularly for those countries which are reliant for financial support to build resilience against climate impacts.2 Besides financial and capacity support, the G20 should also provide debt relief, including debt moratoriums, financial and capacity support, to highly indebted countries. Hereby, the reallocation of Special Drawing Rights (SDR) of the International Monetary Fund (IMF) can be an important lever.
The Foundations Platform F20 convenes over 70 foundations from 26 countries which take a clear stand in urging the G20 to embark on their responsibility to scale up climate ambition and align their policies with the UN 2030 Agenda. F20 strongly advocates for six key F20 Recommendations to the political leaders of the G20.
1 Climate Analytics, World Resources Institute (September 2021): Closing the gap – the impact of G20 climate commitments on limiting global temperature rise to 1.5°C