The leaders of the world’s richest economies will be spending the Sunday figuring out a substantial deal to prevent the drastic climate change.
As the COP26 summit in Glasgow began on Sunday, the G20 hoped to make progress regarding global issues predominantly climate change but they have yet to announce any new commitments to reduce carbon emissions in the coming years.
The G20 group, made up of 19 countries and the European Union, accounts for 80% of the world’s emissions and a threat to the world’s climate.
The first day of the summit, being held in Rome, Italy, focused on Covid and the economy, with an agreement being reached on a global tax rate which will see the profits of large businesses taxed at least 15%.
It follows concern that multinational companies are re-routing their profits through low tax jurisdictions.
Is COP26 climate summit important?
Sunday is dedicated to discussions on climate, with Britain’s Prince Charles due to address the group. He is expected to urge leaders to take urgent action for the sake of future generations.
However, reaching an agreement on how best to cut carbon emissions and to stop climate change from getting worse is proving more difficult.
Planet 1.1C hotter
After years of talking, the planet is now at least 1.1C hotter than the pre-industrial level. Climate scientists want warming restricted to 1.5C to prevent climate catastrophe.
There were already concerns reaching a deal would not be easy, as among the leaders not appearing in person is China’s President Xi Jinping. China is the world’s biggest polluter – although, per person, its emissions are about half those of the US.
Activists disappointed
Activists are disappointed with what is currently being discussed. Reporters suggested that the agreement in the latest draft communiqué did not toughen the language used in previous versions and has even been softened in parts.
Oscar Soria, of the activist network Avaaz, told the agency there was “little sense of urgency” coming from the group, adding: “There is no more time for vague wish-lists, we need concrete commitments and action.”
However, others have been keen to paint the G20 as a stepping stone to COP26, which will see delegates from about 200 countries gather to discuss cutting carbon emissions.
Earlier, a US official said that the G20 was about “helping build momentum” before the leaders headed to Glasgow
France’s President Emanuel Macron said that nothing is ever written before a COP adding that in Paris, in 2015, nothing was decided in advance.”
