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The United Nations climate conference on Friday began its final week with negotiators expected to zoom in on the future of fossil fuels on a dangerously warming planet. Thursday was a rest day, a bit of quiet before talks at COP28 grow even more intense. Negotiators will work to finalize a key document called the Global Stocktake. It evaluates the world's climate change progress since the 2015 Paris agreement and what needs to be done now to avoid blowing past its goal of limiting warming to 1.5 degrees Celsius (2.7 Fahrenheit) compared to preindustrial times. You start off very hopeful, euphoria, COP28 CEO Annan Amin said. Things are happening. Then the negotiations get hard and people start spreading rumours and conjecture and a little bit of depression, and then things start to come up again. And the clarity of the negotiations process becomes clearer. Then you have the political engagement, and that's where the real intensity and excitement comes from. A draft of the Global ...
The G20, under India's presidency, on Saturday said that developing countries will need USD 5.9 trillion in the pre-2030 period to implement their national climate plans effectively, with the aim of holding global warming to well below 2 degrees Celsius, preferably 1.5 degrees Celsius. To achieve net-zero emissions by 2050, developing countries will require approximately USD 4 trillion annually for clean energy technologies by 2030, the bloc said. The G20 also urged developed countries to fulfil their commitment to double their collective adaptation finance provision by 2025, compared to 2019 levels. Comprising nations responsible for 85 per cent of the world's GDP and 80 per cent of emissions, the G20 emphasised the need for increased global investments to align with the goals of the Paris Agreement. They called for a substantial scaling up of investment and climate finance, transitioning from billions to trillions of dollars from all sources. The New Delhi Leaders' Declaration,