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🗞️ Driving the news: UN Secretary-General Antonio Guterres has urged G20 nations in Rio de Janeiro to lead efforts to resolve deadlocked COP29 climate talks in Azerbaijan
• The negotiations are stalled over a $1 trillion climate financing plan, with disputes over the funding amount, structure, and donor responsibilities
• Guterres emphasized the G20’s pivotal role, as its members are responsible for 80% of global emissions

🔭 The context: The UN’s COP29 talks aim to secure significant investments for developing nations to combat climate change, but disagreements persist between Western nations and countries like China and Gulf states over who should contribute
• US President Joe Biden highlighted his administration’s $11 billion in climate financing, while the EU launched new renewable energy initiatives in Africa
• China called for coordinated global efforts and additional support for the Global South

🌍 Why it matters for the planet: Climate leadership from the G20 is critical to achieving global emissions reduction targets and securing financial support for vulnerable nations
• Without a resolution, the lack of investment and action risks derailing climate adaptation and mitigation efforts globally, jeopardizing the 1.5°C warming goal

⏭️ What's next: The G20 summit is expected to feature climate prominently in its final declaration, potentially breaking the COP29 deadlock
• Countries will continue negotiating to finalize a balanced financing package, with pressure mounting on high-emission economies to make greater commitments

💬 One quote: “A successful outcome at COP29 is still within reach, but it will require leadership and compromise, namely from the G20 countries,” — Antonio Guterres, UN Secretary-General

📈 One stat: G20 nations account for 80% of global greenhouse gas emissions

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