G20 Summit in Brazil falls short on climate finance resolution; fails to lift spirits at COP29

The G20 summit concluded without concrete progress on climate finance, disappointing COP29 president Mukhtar Babayev who had hoped for a strong signal of commitment from the world leaders. While the G20 declaration lacked specific financial pledges, experts believe its focus on reforming multilateral development banks could indirectly benefit climate finance negotiations in Baku.