In what is seen as a boost to COP29, the G20 backed a new climate finance goal. In their joint declaration on Tuesday, they said “We look forward to a successful New Collective Quantified Goal (NCQG) outcome in Baku,” adding -quite importantly- “We pledge our support to the COP29 Presidency and commit to successful negotiations in Baku.”
But it stopped short of mentioning developing nations’ voluntary contributions to climate finance.