G20 Leaders Agree on Climate Finance Boost at 2026 Summit

At the 2026 G20 Summit in New Delhi today, leaders agreed to increase climate finance commitments to $150 billion annually by 2030. This marks a 25% rise from previous pledges, aiming to support developing countries in reducing carbon emissions and adapting to climate change. The agreement includes enhanced funding for renewable energy projects and disaster resilience initiatives. Indian Prime Minister Narendra Modi emphasized the importance of collective responsibility, while U.S. President highlighted the need for urgent action. Reuters reported that this move is seen as a critical step toward meeting global climate targets ahead of the upcoming UN Climate Change Conference. The summit also addressed global economic recovery and sustainable development goals.