“G20 poised to signal retreat from climate change funding pledge”

G20 finance ministers may encourage private funding for climate change instead of government pledges, according to a draft statement for the upcoming G20 finance ministers meeting, writes Joe Ryan for Bloomberg. This was a significant shift from what finance ministers stated in a communiqué from 2016, in which they urged governments to quickly implement the Paris Agreement, writes Ryan. It was unclear which G20 members pushed for the new language, writes Ryan. The draft statement did include passages on climate change and “established a goal for G-20 nations to phase out fossil fuel subsidies that encourage wasteful consumption by 2025,” writes Ryan.

Read the article in English here.

For background read the CLEW article IEA director calls on Germany to lead on climate during G20 presidency.