G20 Summit: Pioneering Sustainability in Climate Finance

The G20 summit focuses on sustainable development and transitioning to cleaner energy. Leaders aim to secure a climate deal at COP29 in Azerbaijan. Central topics include significantly boosting climate finance and potentially expanding the contributor base. The summit stresses urgency amid global warming concerns, with a treaty on plastic pollution also discussed.

On Tuesday, leaders from the Group of 20 major economies convened to discuss strategies for sustainable development and transitioning to cleaner energy, aiming to improve the chances of striking a successful global warming deal at the upcoming U.N. climate talks in Azerbaijan.

During the COP29 climate summit, the host country called for G20 nations to send a positive signal on addressing climate change. With 2023 nearing its warmest year on record, leaders emphasize shoring up climate efforts before a potential shift in U.S. policy under Donald Trump's presidency.

In a joint statement, G20 leaders underscored the necessity to increase climate finance from billions to trillions, calling for an ambitious financial goal for rich nations. They also discussed a legally binding treaty to curb plastic pollution by 2024.

(With inputs from agencies.)