G20 leaders agree on a global warming target of 1.5 degrees Celsius.
On Sunday, the leaders of the world’s 20 wealthiest countries reaffirmed their commitment to the 2015 Paris Agreement’s objective of limiting global average temperature rise to 1.5 degrees Celsius above pre-industrial levels.
The leaders agreed that the “impacts of climate change at 1.5°C are significantly smaller than at 2°C,” according to a declaration issued following the G20 leaders’ summit in Rome, which was hosted by the incumbent of Italy.
“All countries must take meaningful and effective actions and commitments to keep 1.5°C within reach,” it stated, adding that they are looking forward to a successful 26th United Nations Climate Change Conference (COP26) this week in Glasgow, Scotland.
Despite the fact that global economic activity has been “recovering at a solid pace, thanks to the roll-out of [coronavirus] vaccinations and continuing governmental assistance,” the recovery is “exposed to downside risks” as a result of new Covid-19 strains and uneven vaccination rates, according to the report.
“We remain sensitive to global concerns that affect our economies, such as supply chain disruptions.” “As our economies recover, we will work together to monitor and address these challenges in order to support global economic stability,” it continued.
Noting that the poor and vulnerable are disproportionately affected by climate change, the G20 leaders recalled and reaffirmed “developed countries’ commitment to mobilize jointly USD100 billion per year by 2020 and annually through 2025 to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation, stressing the importance of meeting that goal fully as soon as possible.”
“Women and girls, who have been disproportionately affected by the pandemic,” the statement added, “are at the heart of our efforts to move forward better.”