The initiative, spearheaded by Brazil during its G20 presidency this year, could potentially raise $250bn a year. But, fresh from withdrawing negotiators from Cop19, the government of Javier Milei, elected president of Argentina this summer on a hard-right,

With negotiations on climate finance in Baku at a standstill, leaders are turning to the G20 meeting in Brazil for a breakthrough .

UN Secretary-General Antonio Guterres on Sunday urged G20 leaders in Rio to "show leadership" on emissions cuts to rescue stalled UN climate talks in Azerbaijan. Deadlocked over a $1 trillion

The plea, made in a letter to G20 leaders from top U.N. climate official Simon Stiell, comes as negotiators at the COP29 conference in Baku struggle for a deal intended to scale up money to address the worsening impacts of global warming.