CEEW urges G20 nations to boost climate finance, ambition at COP29
ECONOMY & POLICY

CEEW urges G20 nations to boost climate finance, ambition at COP29

According to the Climate Accountability Matrix released by the Council on Energy, Environment, and Water (CEEW) at COP29 in Baku, most G20 countries, including major economies such as the US, Australia, and Canada, need to significantly strengthen their climate actions. The study, titled ‘Are G20 Countries Delivering on Climate Goals?’, evaluates G20 members' progress in areas beyond mitigation, such as adaptation and means of implementation. This marks the first-ever assessment of its kind from the Global South.

The report highlights that while France, the UK, Japan, and Germany have made progress in their climate actions through governance frameworks and international cooperation, other advanced economies fall short in consistent engagement and ambition. India and South Africa have been recognized among the Global South nations for adhering to climate commitments and implementing reasonable domestic measures. However, the report also indicates that even these countries must improve sectoral robustness to foster an enabling environment for more ambitious climate actions.

Dr Arunabha Ghosh, CEO of CEEW, emphasized that climate COPs are meant to raise ambition, enable action, and, most importantly, hold countries accountable. He noted that while COP28 saw many promises, it let developed countries off the hook, and stressed that COP29 must prioritize accountability and accelerate progress toward net zero. Ghosh further explained that developed nations, being the largest historical emitters, need to take faster action, immediately reduce emissions, and enhance both the quantity and quality of climate finance. He also highlighted the need for COP29 to address financing reliability and provide protection for vulnerable countries impacted by climate extremes.

CEEW’s report categorizes G20 countries into four groups—leader, reasonable effort, limited effort, and needs improvement—based on their climate actions. The matrix evaluates 42 indicators across themes such as international cooperation, national measures, sectoral robustness, enablers, and climate adaptation. The findings reveal that the EU, South Korea, India, Germany, and China show reasonable overall efforts, with Brazil and India outperforming other developing countries in renewable energy. However, fossil fuel-dependent economies like Saudi Arabia and Turkey are categorized under limited effort or needs improvement.

According to the Climate Accountability Matrix released by the Council on Energy, Environment, and Water (CEEW) at COP29 in Baku, most G20 countries, including major economies such as the US, Australia, and Canada, need to significantly strengthen their climate actions. The study, titled ‘Are G20 Countries Delivering on Climate Goals?’, evaluates G20 members' progress in areas beyond mitigation, such as adaptation and means of implementation. This marks the first-ever assessment of its kind from the Global South. The report highlights that while France, the UK, Japan, and Germany have made progress in their climate actions through governance frameworks and international cooperation, other advanced economies fall short in consistent engagement and ambition. India and South Africa have been recognized among the Global South nations for adhering to climate commitments and implementing reasonable domestic measures. However, the report also indicates that even these countries must improve sectoral robustness to foster an enabling environment for more ambitious climate actions. Dr Arunabha Ghosh, CEO of CEEW, emphasized that climate COPs are meant to raise ambition, enable action, and, most importantly, hold countries accountable. He noted that while COP28 saw many promises, it let developed countries off the hook, and stressed that COP29 must prioritize accountability and accelerate progress toward net zero. Ghosh further explained that developed nations, being the largest historical emitters, need to take faster action, immediately reduce emissions, and enhance both the quantity and quality of climate finance. He also highlighted the need for COP29 to address financing reliability and provide protection for vulnerable countries impacted by climate extremes. CEEW’s report categorizes G20 countries into four groups—leader, reasonable effort, limited effort, and needs improvement—based on their climate actions. The matrix evaluates 42 indicators across themes such as international cooperation, national measures, sectoral robustness, enablers, and climate adaptation. The findings reveal that the EU, South Korea, India, Germany, and China show reasonable overall efforts, with Brazil and India outperforming other developing countries in renewable energy. However, fossil fuel-dependent economies like Saudi Arabia and Turkey are categorized under limited effort or needs improvement.

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