The Group of 20 came into its own during the 2008 financial crisis in order to avoid a global depression. It was a turning point that made clear that big decisions could no longer be taken without the fastest growing economies.
Fast forward to now, and the leaders of the nations that account for 75% of global carbon emissions are again being called to arms to avert another catastrophe — a climate one. The G20 is meeting in Rome this weekend right before COP26 in Glasgow, the United Nations gathering that aims to set specific goals to wean nations off coal and other noxious substances for good.
This time around, the G20 risks falling short and a draft communique seen by Bloomberg News shows just how much is still up in the air. For starters, some key players aren’t showing up in person. Last year the entire summit was held virtually due to the COVID-19 pandemic.