The world’s 20 most powerful economies, the G20 – currently led by South Africa – face mounting pressure to slash greenhouse gas emissions and help nations adapt to climate change. Economist and international affairs specialist Gaylor Montmasson-Clair co-heads the think-and-do tank Southern Transitions and also co-chairs the G20’s Think 20. This group advises on climate, energy and environmental transition policies. He points out that the G20 is not just another talk shop – it represents 85% of the global economy and three-quarters of world trade – and argues that if the G20 acts decisively, the ripple effects will be immediate and immense. Here, he lays out the four urgent steps the G20 must take to adapt the world to the new climate future.
1. Getting climate adaptation the funding it needs
Climate events are no longer sporadic or individual. Floods, fires, droughts and storms overlap, causing mass human migration and increasing geopolitical tensions. In 2024 alone, climate disasters caused over US$200 billion in direct losses globally. These losses rise to more than US$2.3 trillion when the cascading costs of damage to ecosystems are taken into account.
