Diplomatic tensions over global warming have spilled over into this week’s G20 summit negotiations in Brazil; 20 major economies have reached a fragile consensus on climate finance that has been overlooked, sources say UN talks in Azerbaijan.

Heads of state came to Rio de Janeiro He is scheduled for the G20 summit on Sunday and will spend Monday and Tuesday addressing issues from poverty and hunger to reforming global institutions. The talks should now also focus on how to handle the increased violence in Ukraine following Russia’s deadly airstrike on Sunday.

Still, ongoing UN climate talks have shed light on efforts to combat global warming.

while COP29 While the summit in Baku, Azerbaijan, is tasked with agreeing to a goal to mobilize hundreds of billions of dollars for climate action, leaders of the Group of 20 major economies, half a world away in Rio, hold the money strings.

G20 countries account for 85% of the world economy and are the largest contributors to multilateral development banks that help direct climate finance.

“The focus is naturally on the G20. They are responsible for 80 percent of global emissions,” UN Secretary-General Antonio Guterres told reporters in Rio de Janeiro. he said. He expressed concern about the status of the COP29 talks in Baku and called on G20 leaders to do more to combat climate change.

“Now is the time to lead by example from the world’s largest economies and emitters,” Guterres said.

UN climate chief Simon Stiell wrote a letter to G20 leaders on Saturday urging them to take action on climate finance, including increasing grants to developing countries and advancing reforms at multilateral development banks.

But the same fights that have plagued COP29 since it began last week have also been at the center of G20 talks, according to diplomats close to the Rio talks.

COP29 should set a new target for how much finance should be directed to developing countries from developed countries, multilateral banks and the private sector. Economists said at the summit that this amount should be at least $1 trillion.

Rich countries, particularly in Europe, say the ambitious target can only be achieved if contributors broaden their base to include rich developing countries such as China and the Middle East’s leading oil producers.

Discussions on the G20 joint statement in Rio on Saturday stalled on the same issue, diplomats close to the talks told Reuters; While European countries are pressing for more countries to contribute, developing countries such as Brazil have stepped back.

But negotiators early Sunday morning agreed on a text that mentioned voluntary contributions by developing countries to climate finance and refrained from calling those contributions obligations, according to two diplomats.

This breakthrough continues to be overshadowed by the return to power of US President-elect Donald Trump, who is preparing to withdraw the US from the Paris climate agreement again. His election raises questions about how much money the world can raise to combat climate change, possibly without the support of the world’s largest economy.

Trump plans to roll back landmark climate legislation passed by outgoing President Joe Biden, who visited the Amazon rainforest on Sunday en route to Rio.

The success of not only COP29 but also the next UN climate summit, COP30, to be held in Brazil next year, depends on an ambitious agreement on climate finance.

The centerpiece of Brazil’s COP30 strategy is “Mission 1.5,” an effort to keep alive the Paris Agreement’s goal of limiting global warming to 1.5 degrees Celsius. The UN estimates that current national targets will cause temperatures to rise by at least 2.6 degrees C.

Developing countries argue they can only raise emissions reduction targets if rich nations, the main culprits of climate change, foot the bill.

At COP29 last week, Bahamas Prime Minister Philip Davis said: “Achieving the 1.5 degrees Celsius target is technically possible, but only if there is a massive mobilization led by the G20 to cut all greenhouse gas emissions…”