What to expect at the G-20's Venice conference on climate

Questions of how to finance efforts to combat climate change and the economic impacts of global warming are set to dominate Sunday's Venice International Conference on Climate.

Organized by the Italian government as part of its presidency of the G-20, the conference comes on the heels of a meeting of finance ministers and central bank governors from the group of nations, and many of its attendees — including U.S. Treasury Secretary Janet Yellen — are scheduled to stick around. They will be joined by representatives from international institutions and the private sector.

In a statement following a climate-focused meeting of G-20 deputies last month, organizers said the Venice conference would include a discussion of the "comprehensive strategies needed to support the transition towards low-carbon economies and societies." At the June meeting, participants focused on the role of multilateral development banks in supporting climate transition efforts in the global south, green investment opportunities, and climate-related financial disclosures.

What else might be on the agenda: International Monetary Fund Managing Director Kristalina Georgieva is promising to push IMF’s recent proposal for an international carbon price floor to fuel a transition to low-carbon power generation.

A $5 trillion global investor coalition coordinated by the Farm Animal Investment Risk & Return Initiative, a network focused on the climate impacts of animal agriculture, has also issued a call ahead of the conference for governments to disclose their targets for reducing agricultural admissions.

The effort has the support of former United Nations Secretary-General Ban Ki-moon, who noted in a statement that "if we are to meet the goals of the Paris Agreement, countries must also say how they will tackle the high level of emissions from the agricultural sector as part of their national climate commitments."

Why this is important: The Venice conference is one of the last opportunities to influence the agenda for the 26th U.N. Climate Change Conference of the Parties, scheduled for October and November in Scotland.