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Luca Bergamaschi July 23, 2021 09:34 Late last year, at their summit in Riyadh, G20 leaders identified climate change as one of the most pressing challenges of the twenty-first century. “As we recover from the pandemic,” their communiqué read, “we are committed to safeguarding our planet and building a more environmentally sustainable and inclusive future for all people.” That commitment hasn’t quite materialized. To be sure, the carbon intensity of the energy supply in G20 countries is declining. Coal use is falling, power-sector pollution is edging down, and a host of new clean-transport policies is being rolled out. G20-led initiatives to encourage businesses to disclose climate risks are starting to bear fruit.

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