Title: G20: Need for $3 Trillion for Climate Action

A committee affiliated with the G20 stated in a report reviewed by Reuters today, Tuesday, that "there is a need to spend an additional amount of about three trillion dollars annually until 2030 for additional investments in climate action and achieving other sustainable development goals." The G20 tasked the independent committee, led by economists Lawrence Summers and N.K. Singh, to propose reforms for multilateral development banks, focusing on increasing funding for sustainable development goals and combating climate change among other issues.