TRUMP EFFECT
Reaching such an accord may only get tougher with the return to power of US President-elect Donald Trump, who is reportedly preparing to again pull the United States out of the Paris climate accord.
Trump is also planning to roll back landmark climate legislation passed by the outgoing Joe Biden.
UN climate chief Simon Stiell wrote a letter to G20 leaders on Saturday imploring them to act on climate finance, including boosting grants for developing nations and advancing reforms of multilateral development banks.
However, the same fights that have plagued COP29 since it began last week are spilling over into G20 negotiations, according to diplomats close to the Rio talks.
COP29 must set a new goal for how much financing should be directed from developed countries, multilateral banks and the private sector to developing nations. Economists told the summit it should be at least US$1 trillion.
Wealthy countries, especially in Europe, have been saying that an ambitious goal can only be agreed if they expand the base of contributors to include some of the richer developing nations, such as China and major Middle Eastern oil producers.
