THE WORLD IS WATCHING – F20 Statement of urgency on the G20 Summit 2021 this weekend in Rome

Hamburg, October 29th, 2021 

 

“The world is watching the G20 Heads of State meeting this weekend in Rome to exhibit leadership on the global climate and biodiversity crises and set the bar for the UN Climate Summit starting next week in Glasgow! The urgency we are facing calls for immediate actions. These include the decarbonisation of the finance sector, a concrete year for the phase out of fossil fuels or a commitment on a net-zero and science-based emission target aligned with the 1.5°C benchmark,” states Klaus Milke, Chair of the Foundations Platform F20. “The biodiversity and climate crises cannot be solved in isolation but require both global and local action. The G20, responsible for approximately 80% of global greenhouse gas emissions has an outstanding role to initiate these actions and to address the inextricably linked crises.”  

The G20 Summit, held in Rome from 30th to 31st of October, is of ground-breaking importance as it sets the agenda for the COP26 climate talks taking place shortly afterwards in Glasgow, UK. If all G20 members were to adopt mid-century net zero commitments and align their Nationally Determined Contributions (NDCs) with a 1.5°C pathway, a 1.5°C trajectory at least remains within reach.1 

G20 countries also have a particular responsibility to mobilise financial support for international climate action particularly for those countries which are reliant for financial support to build resilience against climate impacts.2 Besides financial and capacity support, the G20 should also provide debt relief, including debt moratoriums, financial and capacity support, to highly indebted countries. Hereby, the reallocation of Special Drawing Rights (SDR) of the International Monetary Fund (IMF) can be an important lever.  

The Foundations Platform F20 convenes over 70 foundations from 26 countries which take a clear stand in urging the G20 to embark on their responsibility to scale up climate ambition and align their policies with the UN 2030 Agenda. F20 strongly advocates for six key F20 Recommendations to the political leaders of the G20. 

 

1 Climate Analytics, World Resources Institute (September 2021): Closing the gap – the impact of G20 climate commitments on limiting global temperature rise to 1.5°C 

2 Ibid. 

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