The final G20 document confirms the 100 billion climate fund to support developing countries. The draft text would underline the “importance” of respecting that commitment already set. The cap on global warming was then placed within 1.5 degrees. In addition, the need to “take further action” on the climate “in this decade” is stressed. There has been a lot of discussion about the indication of the date for further actions, whether to write in the 1920s or leave it undefined. In the end, an agreement would be reached – explain diplomatic sources – on the indication of “this decade”. On the other hand, the deadline indicated in the final document of the G20 for the zero emissions goal is “mid-century”. But the G20 countries will finish financing new coal plants by the end of the year.
An entire night of tight negotiations was not enough for the Sherpas of the G20 heads of state and government to agree on the summit’s final conclusions on climate change. Only on the morning of Sunday 31 December at 10.30 the working groups coordinated by Ambassador Luigi Mattiolo, diplomatic adviser to Mario Draghi and sherpa of the G20, worked on a general agreement that would have been found, moreover, sealed by two long G20 applauses . The text is not yet defined in all its parts and there are still many square brackets that will have to be gradually eliminated from the final draft which will serve as a general platform to be offered from Monday 1 November at the Cop 26 summit in Glasgow co-chaired by the United Kingdom and Italy in which many developing countries will also take part.
The coin rite at the Trevi Fountain
While the EUR was working to file the conclusions of the summit, the state and government bees enjoyed the first hours of the second day of the summit in the center of Rome with a passage to the Trevi fountain. It was precisely there that at first the ceremonial of Palazzo Chigi had imagined making the family photo of the summit. But the disproportionate cost of the photographic set and the installation of a large platform inside the tank after having emptied all the water (estimate for about 250 thousand euros) forced a quick reverse and made people opt for the photo with Spallanzani doctors and nurses. However, on Saturday morning the leaders visited the fountain with the traditional toss of a one euro coin specially minted for the summit bearing the effigy of Leonardo’s Vitruvian man, a symbolic image of the Italian G20.
Draghi at the summit on climate change with Prince Charles
In the morning Draghi also opened a side event coordinated by Prince Charles on the role of the private sector in climate change. “We must implement immediate, rapid and substantial cuts in emissions to avoid disastrous consequences,” said the Italian premier. “The Italian presidency of the G20 – he added – wants to push economic growth and make it more sustainable: we owe it to citizens, the planet and young people”. According to Draghi, “both the public and private sectors must do their part. Governments can set short- and long-term goals and ensure political, financial and regulatory stability. But they can’t do everything. Private companies accelerate the spread of clean technologies, promote innovation and promote large-scale production ». For Draghi, “public funding helps to attract green finance and reduce the risks for private sector investments. Public-private partnerships combine the two realities. We must support private initiatives that incorporate social and environmental priorities into their production models, such as the initiative of His Royal Highness, Prince Charles, on sustainable markets ».
Macron: “Accelerate the exit from coal”
Also for the French President Emmanuel Macron “it is time in Rome to do the utmost so that all the members of the G20 make a useful contribution to Glasgow and COP 26”. Macron recalled that “nothing is ever sure before a COP. Let’s not forget that in Paris, in 2015, everything was at stake. In the last few hours, some states have threatened to back down but there has been diplomatic work that lasted two years and cooperation between Europe, the United States and China has been absolutely essential ». As for the climate, Macron continues, “the first theme is to accelerate the exit from coal, in particular by putting an end to the financing of coal plants and accompanying the transitions in developing countries and especially in Africa”.