Wednesday, November 16, 2022
The world’s most powerful countries have not delivered or met their responsibilities at the G20 summit in Bali. Instead of driving progress on climate, leaders have barely made any changes to last year’s communiqué. Old commitments like ending inefficient fossil fuel subsidies or providing $100B in support to developing countries remain unmet, without any deadlines. While the G20 recognize the macroeconomic effects of the climate crisis and the need to urgently scale ambition, they don’t draw the consequences for their own actions, despite representing the biggest emitters and the richest nations in the world. Now the responsibility is with the COP to show the collective leadership we needed to see from the G20.
On food security, the G20 welcome the grain agreements and call for targeted support to cushion the increase in food prices, but this is simply not enough given that 50 million people are at the brink of starvation. There is a direct failure to call out the looming famine, which signals the approach to the crisis is not equal to the challenge. The statements echo all the anticipated talking points without shouldering any responsibility or laying out a path through which to ensure 50 million people do not starve.
Much more financing is needed now to combat the multiple crises we are facing. While the G20 have not fully met their promise on reallocating the Special Drawing Rights, they do support the reforms of multilateral banks which could yield billions if not trillions of dollars. These reforms now needs to happen as soon as possible.
Instead of driving progress on climate, leaders have barely made any changes to last year’s communiqué. Old commitments, dating back to 2009, to end inefficient fossil fuel subsidies and provide $100B in support to developing countries remain unmet and without any deadlines. Some positive signs can be seen in the commitment to double adaptation financing, previously agreed at COP26 in Glasgow, to push for a more ambitious financing goal for the period after 2025, and to make progress on Loss & Damage. However, the G20 did not make progress itself and instead passed the baton on to COP27, which is currently taking place in Egypt, where we now demand real commitments.
– Friederike Roder, VP of Global Advocacy, Global Citizen