G20 Diplomats Hit Snags on Climate, Taxation and Ukraine, Sources Say

Source: US News and World Report/Reuters

Nov. 16, 2024, at 4:40 p.m.


BRASILIA (Reuters) - Diplomats from the Group of 20 major economies struggled on Saturday to overcome differences on paying to tackle climate change, taxing the super rich and addressing the Ukraine war as they negotiated a joint statement before their leaders' summit.

The G20 summit in Rio de Janeiro on Monday and Tuesday comes as the United Nations COP29 climate talks enter their second week, with negotiators debating a new goal for how much money richer nations will cough up to confront climate change. U.N. officials and other delegates in Baku expressed hopes that a strong message from the G20 leaders could help provide political momentum for a COP29 deal on climate finance.

However, four diplomats involved in the talks in Rio said they were at a familiar impasse: developed nations want some of the wealthier developing countries to contribute financing to tackle global warming, but the developing world says it is up to the world's wealthiest nations to foot the bill.

Reaching a global accord may only get tougher with the return to power of U.S. president-elect Donald Trump, who is preparing to again pull the United States out of the Paris climate accord. Addressing the Russian invasion of Ukraine has also been a prickly issue for the G20 since 2022, and the war in Gaza has added to the group's geopolitical divisions.

Read more: https://www.usnews.com/news/world/articles/2024-11-16/g20-diplomats-hit-snags-on-climate-taxation-and-ukraine-sources-say