On the occasion of the G20 summit that will bring together the most influential industrialized and developing countries in Hamburg on July 7 and 8, an unprecedented alliance of foundations and philanthropic organizations (F20) joined forces in order to further shape the political discourse on future sustainability measures before, during and after the G20 Summit. With the United Nations formalization of the Agenda 2030 including the Sustainable Development Goals (SDGs) and the 2015 Paris Climate Agreement coming into effect, a number of encouraging sustainability frameworks have been established to spur the transformation needed.
An alliance of over 30 foundations representing a capital in the double-digit billion range (US dollars) has joined forces with a group of stakeholders from science, business, and civil society to call on the G20 to implement the Paris Agreement even without the US. In a joint statement, the alliance – consisting of G20 engagement groups such as the Business 20, Think Tank 20, Women 20 and Labour 20 – criticised the US’ withdrawal from the Paris Agreement as “short-sighted and irresponsible”, adding that the Paris Climate Agreement is indispensable in tackling the global climate crisis. The remaining 19 members of the G20 should convincingly show their willingness to implement the Paris Agreement at the upcoming G20 Summit in Hamburg.
“Heads of State around the globe have spoken out in favour of the Paris Agreement with impressive force. It’s now time to translate our ambitious words into action. A great number of businesses, investors, scientists, environmental and human rights organizations, mayors and citizens have offered their support for this undertaking”, says Johannes Merck, spokesperson of the Foundations Platform F20 and Chairman of the German Michael Otto Foundation for Environmental Protection.
The alliance has asked the 19 leading economies to submit revised Nationally Determined Contributions (NDCs) that are sufficient to reach the climate goals set forth in the Paris Agreement, to create a global mechanism on carbon pricing and to agree on a concrete timeline for phasing out fossil fuel subsidies. Furthermore, the group has urged the G20 to enable financial markets to deliver on sustainable development by promoting international disclosure and reporting standards for environmental and climate-related financial risk.