More than 100 world leaders have pledged to end the destruction of forests by 2030 as a way to slow climate change. That will require changing how the world produces four widely used commodities.
People, Planet and Prosperity was on the agenda of the G20 Finance Ministers and Central Bank Governors’ meeting in February 2021.
G20 Italy Finance Media / Handout/Anadolu Agency via Getty Images
Stabilising Earth’s climate depends on a lot more than deals struck at conferences like Glasgow. But those agreements set a frame for real-world decisions.
Bill Hare, Potsdam Institute for Climate Impact Research
Rather than slow the decline in coal use, India’s actions at COP26 ensure it and other polluting nations, including Australia, will be under even greater scrutiny.
Pitched at an initial US$8.5 billion, the partnership has the potential to be one of the largest individual climate finance transactions to date. But can a just transition be achieved?
Uncertainty about carbon market rules will be problematic for New Zealand, given its reliance on overseas carbon trading to meet its new climate pledge.