G20: Developing countries need climate finance now to halve emissions by 2030

The author asserts that the failure of developed nations to meet the 2010 commitment to mobilise $100bn per year by 2020 for climate action in developing countries erodes international trust and hinders the transition to a net-zero world. Fulfilling this commitment is presented as a catalyst to trigger large-scale private investment in low-carbon solutions and climate-resilient industries, particularly within supply chains where 65-90 per cent of company emissions originate. The text emphasizes that only 21 per cent of these funds currently support adaptation, and argues that increasing this share would protect global economic stability by building resilience in developing nations. The author calls for G20 leadership to combine this funding with mandatory climate risk disclosure and carbon pricing to support the goal of halving global emissions by 2030.

• Developed countries have failed to meet the 2010 commitment to mobilise $100bn annually by 2020 for climate action in developing nations; as of 2018, only $79 billion had been delivered.
• While Germany, France, and Japan are contributing their fair share, and Italy and the UK are making progress, the US, Australia, and Canada are not on track to meet their commitments.
• Climate finance is critical for supply chain decarbonisation, as 65-90 per cent of corporate emissions are generated within supply chains, many of which are located in developing countries.
• Current climate finance is heavily skewed away from adaptation, with only 21 per cent of the $100bn commitment funds allocated to adaptation efforts.

APA

Mendiluce, M. (2021). G20: Developing countries need climate finance now to halve emissions by 2030. We Mean Business Coalition. https://www.wemeanbusinesscoalition.org/blog/g20-developing-countries-need-climate-finance-now-to-halve-emissions-by-2030/

Chicago

Mendiluce, María. G20: Developing countries need climate finance now to halve emissions by 2030. We Mean Business Coalition, 2021. https://www.wemeanbusinesscoalition.org/blog/g20-developing-countries-need-climate-finance-now-to-halve-emissions-by-2030/.

Wikipedia

{{cite press release |last1=Mendiluce |first1=María |title=G20: Developing countries need climate finance now to halve emissions by 2030 |publisher=We Mean Business Coalition |date=9 July 2021 |url=https://www.wemeanbusinesscoalition.org/blog/g20-developing-countries-need-climate-finance-now-to-halve-emissions-by-2030/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{mendiluce2021g20, author = {Mendiluce, María}, title = {{G20: Developing countries need climate finance now to halve emissions by 2030}}, publisher = {We Mean Business Coalition}, year = {2021}, month = jul, url = {https://www.wemeanbusinesscoalition.org/blog/g20-developing-countries-need-climate-finance-now-to-halve-emissions-by-2030/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }