G20 also strikes deal to end overseas coal plant finance but leaders stopped short of an agreement that would end domestic coal power in their own countries
Leaders of the world’s largest economies reached a climate agreement in the final hours of the G20 summit in Rome but one that fell well short of the breakthroughs that delegates at the global climate conference in Glasgow had wanted to help build momentum for new carbon-reduction commitments.
The climate sections of the communiqué did not commit the G20 countries to boost the carbon-reduction pledges that they already made. They did reinforce their desire to “remain committed to the Paris Agreement goal to hold the global average temperature increase well below 2 degrees C and to pursue efforts to limit it to 1.5 degrees C above pre-industrial levels.”
Prime Minister Justin Trudeau tweeted Canada is stepping up to do do its part to combat climate change and will encourage its partners to do the same. The wording means that G20 countries will not finance the development of coal plants beyond their border. China is, by far, the biggest financial backer of international coal plants. But at the G7 summit in Cornwall, England, in June, China said it would stop that practice, though would continue to finance domestic plants.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
G20 wants 70 per cent of world vaccinated by mid-2022, sets up pandemic task forceThe task force will explore options for mobilizing funds to boost pandemic preparedness, prevention and response
Read more »
How G20-backed corporate minimum tax would workLeaders at the Group of 20 summit in Rome are expressing broad support for sweeping changes in how big global companies are taxed.
Read more »
G20 endorses global corporate minimum tax at Rome summitLeaders of the world's biggest economies on Saturday endorsed a global minimum tax on corporations, a linchpin of new international tax rules aimed at blunting the edge of fiscal paradises amid skyrocketing profits of some multinational businesses.
Read more »
G20 opens with call for more vaccines for poor countriesItaly's Premier Mario Draghi opened a conference of the world's powerhouse economies with a sharp call to pick up the pace in getting vaccines to poor countries, calling the gaping global COVID-19 vaccine gap 'morally unacceptable.'
Read more »
G20 summit predictions: The easy and not-so-easy winsWhat to expect from the final communiqué on global COVID-19 vaccine distribution, phasing out fossil-fuel subsidies and more
Read more »