G20 talks in Rio reach breakthrough

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RIO DE JANEIRO: Diplomatic tensions over global warming spilled over into the Group of 20 (G20) summit negotiations in Brazil this week, with sources saying the 20 major economies reached a fragile consensus on climate finance that had eluded United Nations (UN) talks in Azerbaijan.

COP29 must set a new goal for how much financing should be directed from developed countries, multilateral banks and the private sector to developing nations.

The success of not only COP29 but also the next UN climate summit, COP30 hosted in Brazil next year, hinges on an ambitious deal on climate finance.

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Category: EconomyBusiness

Markets: MalaysiaAzerbaijanBahamasBrazilChinaUkraineUnited States

Topics: Last Global Developing Climate Finance Talks Summit Cop29 Sunday Nations Countries

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-19 @ 00:00:00 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 728 words

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Sentences: 25 lines

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News ID: 23680919

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