UN chief urges G20 leaders to agree on 'new global financial goal'

UN chief Antonio Guterres on Sunday called on G20 leaders gathering in Rio de Janeiro to reach "an absolutely essential agreement on the new global financial goal" at COP29 in Azerbaijan. His appeal comes as UN talks in Baku remain deadlocked midway through negotiations, with no progress toward a $1 trillion climate investment deal for developing nations after a week of discussions.

European Union chief Ursula von der Leyen and South African President Ramaphosa in Rio also jointly launched a campaign to boost renewable energies in Africa. The European Union is the world's biggest contributor for climate financing, most of which goes through multilateral funds.