UN warns of ‘economic carnage’ if G20 leaders cannot agree on climate finance for poor countries

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Wealthy nations are yet to offer the hundreds of billions of dollars that economists say are needed to help the developing world cut emissions

Activists protest at the Cop29 climate summit in Baku, Azerbaijan, as G20 leaders prepare for two days of talks in Rio de Janeiro.Activists protest at the Cop29 climate summit in Baku, Azerbaijan, as G20 leaders prepare for two days of talks in Rio de Janeiro.on Monday must agree to provide the finance that the world’s poorest need to tackle the climate crisis or face “economic carnage”, the UN has warned.

The G20 must also discuss debt relief, he added, as many poor countries are unable to take measures to protect themselves from climate breakdown while they are already struggling with debt servicing costs that have been pushed higher by interest rate rises.

 

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