F20 Statement on the Leaders Summit on Climate
Given the urgency of the global climate crisis, the Climate Leaders Summit hosted by US-President Biden was an important declaration of will by more than 40 national governments. It clearly also put the G20 states into the focus as all countries reaffirmed the Paris Climate Agreement as the major reference for progress and reestablished trust in multilateral cooperation. The fact that the summit also convened representatives from the financial sector, mayors and young people also was an important indication of increased ambition.
“This is a breath of fresh air that gives a new boost to the global climate debate! The commitments of the major economies including the 52% emission reduction target by 2030 of the US was desperately needed – but yet has to be translated into concrete actions at all levels. The Leaders Summit has set the pace for the upcoming G7 and G20 meetings and the UN Biodiversity and Climate talks. Of particular importance was the broad acknowledgement of countries that the just and inclusive transition of the energy sector and protecting and restoring global natural resorts are absolute pre-requisites for keeping global temperature increase below the 1.5° C.
Especially the International Climate Finance Plan is one of the corner stones to tackle the Climate Crisis as it lays out a series of concrete measures to shift investments. This does indeed go to eye of the storm of the global climate crisis. However, the commitments made so far by industrialized countries to international climate finance are far from sufficient,” says Klaus Milke, Chair of the Foundations Platform F20.
Click here to find out more about the Leaders Summit on Climate hosted by US President Joe Biden.