Leaders of the Group of 20 countries haggled for two days in Rome over steps to tackle climate change and a pandemic recovery that is diverging between rich and poor countries.
. Climate change dominated their summit, which ended just as an annual U.N. Climate Change Conference was opening in Glasgow, Scotland.
- The summit arrived at compromise wording for when G-20 nations need to reach net-zero greenhouse gas emissions. That means producing emissions at a level where they can be removed from the atmosphere by oceans, forests and abatement measures. The Group of Seven rich democracies have set 2050 as the latest date, but leaders of the larger G-20 forum settled on “by or around mid-century.
— Aside from climate issues, the leaders signed off on a landmark agreement for countries to enact a global minimum corporate tax of 15%. The global minimum is aimed at deterring multinational companies from dodging taxes by shifting profits to countries with ultra-low rates where the companies may do little actual business.
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