Friday, April 4, 2025

G20 Finance Talks End in Deadlock as Climate Funding Splits Nations

The G20 finance summit in Cape Town ended without a formal agreement, highlighting deep divisions on climate finance and economic policy. Hopes for a unified approach to tackling global economic challenges faded as key finance chiefs from the U.S., China, India, and Japan skipped the talks.

South Africa, the summit’s host, had aimed to push for stronger climate funding commitments from wealthy nations. Instead, discussions were clouded by geopolitical tensions and disputes over economic priorities. A “chair’s summary” replaced the traditional joint communique, emphasizing a commitment to fair trade but failing to secure consensus on climate financing.

READ MORE: EFCC Charges 17 Chinese Nationals in Multi-Million Dollar Crypto Fraud Case

“I’m not happy,” South African Finance Minister Enoch Godongwana admitted, pointing to the growing reluctance among major economies to prioritize climate aid. The meeting’s failure underscores the increasing fragmentation of global economic policy, just as developing nations face mounting financial and environmental crises.

Hot this week

WAG Urges Women To Strategise For Greater Representation In Governance

Founder Women Aligned for Growth (WAG), Dr. Ifeyinwa Nwakwesi...

Stark Pages Initiative Launches Literary Students Program to Inspire Young Writers

The Stark Pages Creative and Literary Arts Initiative, a...

Ozoya Football Foundation Kicks Off a New Era with Charitable Initiative in Edo State

The Ozoya Football Foundation is making waves in Nigerian...

After Two Years of War, Sudan’s Military Secures Key Victory in Khartoum

Sudan’s military has recaptured the Republican Palace in the...

29 Internet Fraudsters Jailed in Benin as Nigeria Deepens Cybercrime Crackdown

Justice has caught up with 29 internet fraudsters in...

Fuel Prices Set to Rise in Nigeria as Dangote Refinery Halts Naira Sales

Nigerians could soon face higher fuel prices after the...

Related Articles

Popular Categories