Sat Nov 16 08:04:11 UTC 2024: ## UN Climate Chief Urges G20 Leaders to Prioritize Climate Action at Rio Summit
**Baku, Azerbaijan – November 16, 2024** – UN Climate Chief Simon Stiell issued a stark warning today, urging G20 leaders to drastically cut emissions to avert an economically devastating climate crisis. Addressing the COP29 summit in Baku, Stiell emphasized that bolder climate action is essential for the self-preservation of every G20 nation.
Stiell highlighted the already significant economic damage inflicted by climate change on G20 economies, impacting lives, supply chains, food prices, and fueling inflation. He stressed that without rapid emission reductions, no G20 economy will escape the ensuing economic turmoil.
However, Stiell also offered a positive outlook, noting the projected $2 trillion investment in clean energy and infrastructure this year—double the amount allocated to fossil fuels. He pointed out that some G20 nations are already capitalizing on this burgeoning clean energy market. He advocated for increased global climate finance to ensure all countries benefit from this transition, leading to stronger growth, job creation, reduced pollution, and more secure and affordable energy.
Negotiations at COP29 are currently focused on establishing a new climate finance goal. While acknowledging the long road ahead, Stiell expressed optimism about the progress made during the first week of the two-week conference.
Looking ahead to the upcoming G20 summit in Rio de Janeiro, Stiell urged leaders to send three clear messages: increased grant and concessional finance, continued G20 government support for reforming multilateral development banks, and debt relief for vulnerable nations to facilitate climate action. He stressed that international cooperation is humanity’s only path to mitigating global heating. The G20, representing approximately 85% of global GDP and two-thirds of the world’s population, holds a critical role in this endeavor.
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