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by Institute for Global Dialogue

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Categories: In The News

by Institute for Global Dialogue

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Top economies must act quickly on climate and sustainable development at G20 summit

The two-day meeting in Antalya, Turkey provides the chance for G20 countries – responsible for most of the world’s greenhouse gas emissions – to take immediate action to eliminate fossil fuel subsidies and work toward providing clean and renewable energy access for all. Getting rid of subsidies would save billions of dollars annually that can be better invested in renewables and energy access for the poor.

“Ahead of crucial climate negotiations in Paris, and following the historic approval of new sustainable development goals, it is critical that the G20 make good on pledges to take action on climate change and sustainable development,” said Marco Lambertini, Director General of WWF International. “Fulfilling G20 pledges on climate finance, fossil fuel subsidy reform and energy efficiency would provide strong momentum for the upcoming climate talks.”

Critical to reaching established climate goals, leaders should follow through on their commitment to further fund and operationalize the Green Climate Fund by mobilizing US$100 billion per year on climate finance by 2020. By comparison, governments spend an estimated US$600 billion per year in fossil fuel subsidies.

Many of the same G20 leaders will meet in Paris later this month to finalize a new global climate agreement. To have any chance at preventing the worst impacts of climate change, decisions taken in Paris must help further reduce global carbon emissions before the next agreement enters into force in 2020. The Paris agreement should also provide a mechanism for countries to improve commitments already made toward emissions reductions in the period after 2020.

Available at: http://wwf.panda.org/wwf_news/?256141 

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  • By Published On: Feb 23rd, 2016
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