In December 2015, G20 Member States which as Parties to the United Nations Framework Convention on Climate Change (UNFCCC) reached the Paris Agreement. This historic global agreement aims to reduce the global average temperature rise within 1.5 degrees, mitigating negative impacts of climate change on human society and the global natural ecosystem.
Climate change has become a systemic risk for global investment, financial activities, public health, poverty elimination and ecological environment. The 5th assessment report of IPCC stated that the carbon budget for achieving a 1.5 degree target (66% probability), will be depleted in the next five years under a business-as-usual scenario. To effectively control global warming, countries should enhance and accelerate mitigation and adaptation actions as soon as possible. Otherwise, all countries will face serious impacts arising from climate change, which may lead to social conflict, ecosystem collapse and economic turmoil.
Taking shape in the US financial crisis, the G20 Group summit is committed to promoting world economic growth and improving global economic governance. In recent years, G20 member states attached greater importance to the role of climate change in ensuring financial stability and become increasingly concerned about improving the financial stability to promote stronger climate action.
Leaderships of G20 play decisive roles in global concerted efforts on tackling climate change. G20 member countries contributed 84% of global carbon emissions from fossil fuel consumption. Therefore, G20 countries must corporately and immediately implement the Paris Agreement, which will lead to a low-carbon, smart, inclusive, green and sustainable future. In the 2009 Pittsburgh Summit, except traditional financial issues, it is the first time that “energy security and climate change" was put in the communiqué. G20 States are committed to phasing out fossil fuel subsidies in the medium- long-term, increasing clean and sustainable energy supply and improving energy efficiency. In 2010, South Korea held its 5th summit where trade, climate change and green growth were listed in the agenda. The 2015 Turkey G20 Summit addressed inclusive growth as one of the priorities and held the first Energy Ministers' Meeting to discuss energy access, energy efficiency and renewable energy. The G20 summit in 2016 was held in Hangzhou, and China completed domestic legal procedures to ratify the Paris Agreement with the United States in the lead up to the Hangzhou Summit and called on other G20 members to promote the rapid ratification and entry-into-force of the Paris Agreement.
As a local environmental organization, Greenovation Hub has been closely following global climate and energy governance. Since the Turkey G20 Summit in 2014 and the Turkey C20 Conference, G:HUB has been observing the role of G20 in global climate and environmental governance from a climate and environmental-friendly and sustainable development perspective to promote sustainable, fair and resilient development of China and the G20 Group.
