G20 Summit: Pledge to triple global renewable energy generation by 2030--Seetao

According to foreign media reports, the Group of 20 (G20), which accounts for 85% of global GDP and 80% of carbon emissions, announced at the G20 summit that it plans to accelerate the reduction of coal-fired power generation, taking into account the unique circumstances of each country. However, there is no commitment to completely phase out polluting fossil fuels, including oil and gas. Recognizing the urgency of the global climate, the G20 stressed the need to rapidly and significantly reduce global greenhouse gas emissions, by 43 percent by 2030 from 2019 levels, to limit global warming to 1.5 degrees Celsius. However, they expressed concern that current efforts are still insufficient to meet the goals of the Paris Agreement. To support developing countries' climate plans, the G20 called for $5.9 trillion in funding by 2030. In addition, they estimate that global investment in developing clean energy will need to be about $4 trillion per year by 2030 to achieve net-zero emissions by 2050. Leaders urged a dramatic increase in climate finance from billions of dollars to trillions of dollars. Editor/Xu Shengpeng

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