Despite committing to phase out fossil fuels in 2009, G20 governments are still spending public funds on coal, oil and gas and have provided billions of dollars to fossil fuel intensive industries in response to Covid-19 — $77 billion in public funds annually to finance oil, gas, and coal projects and more than $230 billion committed in COVID-19 recovery funds towards fossil fuels.
The climate targets and actions set by #G20 governments and multilateral institutions they control are weak and insufficient. To tackle the climate crisis, we need #realzero targets, not net zero.
The recent G20 Finance Ministers Communique does not make any clear call or commitment for the scaling up of climate finance delivery, which is an obligation by most of G20 member countries based on their huge share in historical and continuing emissions and therefore responsibility for climate change.
The pledge to provide $100 billion a year, starting from 2020, has yet to be delivered. G20 developed country members should declare how much and by when they intend to deliver on climate finance obligations.
– APMDD
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