G20 leaders agree to end public financing for coal-fired power generation abroad, no domestic target
India TV NewsG20 leaders on Sunday agreed to end public financing for coal-fired power generation abroad but set no target for phasing out coal domestically. The Group of 20 countries represents more than three-quarters of the world's greenhouse gas emissions and summit host Italy had been looking for solid targets on how to reduce emissions while helping poor countries deal with the impact of rising temperatures. Italian Premier Mario Draghi told the leaders going into the final working session Sunday that they needed both to set long-term goals and make short-term changes to reach them. According to the communique, the G-20 reaffirmed past commitments by rich countries to mobilize $100 billion annually to help poorer countries cope with climate change, and committed to scaling up financing for helping them adapt.