G7, G20 nations should collaborate on climate action: Think tank ADBI

A leading Asian think tank Thursday called for G-7 and G-20 member nations to collaborate on climate action by going beyond energy transitions and building climate-resilient infrastructure.

In a blog post, the Asian Development Bank Institute said G7 can lead the global efforts to build climate-resilient infrastructure and systems, while G20 nations can focus on embedding sustainability into their urban development and agricultural practices.

The ADBI noted G20 members such as China, India, Indonesia still continue to depend on coal-fired power plants for their electricity generation which "evoke concerns about humanity's future in the face of the climate crisis".

"Such conflicting signals from major nations render the future of climate action uncertain," it said.

The think tank also suggested that the G7 and G20 countries should collaborate at the financial level.

"Although developed countries have pledged to provide 100 billion dollars annually in climate finance to developing nations, this goal is only expected to be met this year for the first time since its initiation at COP15 in December 2009," it noted.

"The G20's developing- and emerging-country members must be able to support developed country members to assist small and vulnerable countries, especially since they now possess the means to do so. Every major power must contribute to resolving this global crisis, and each country should meet their obligations," the think tank said.

"They ought to promote green finance and enforce climate risk disclosure within their financial markets. These groups have both the substantial capability and the moral obligation to catalyze private and public investments in climate initiatives, maximizing potential impact," it said.

The ADBI suggested that at the G20 Summit at New Delhi, the developing- and emerging-country members can rally to adopt more sectoral, granular, and tangible climate goals, than the G7 countries have done at their Hiroshima Summit, in targeting net-zero emissions in the road sector by 2050.

"While G20 summits have traditionally been seen as platforms for economic cooperation, it is time they also become pillars of global environmental solidarity. Together, they can and should lay the foundation for a sustainable future where economic growth does not compromise our planet's wellbeing," the ADBI said.