G20 talks in Rio de Janeiro have reportedly reached a tentative agreement on climate finance, a breakthrough that has eluded previous U.N. negotiations.

Developing nations argue that they can only increase their emissions reduction targets if wealthier countries, identified as the main contributors to climate change, provide financial assistance.

As heads of state gather for the summit, discussions will also address urgent global issues, including poverty, hunger, and the ongoing conflict in Ukraine, following a recent deadly airstrike.

The G20 leaders have significant influence over climate funding, which is crucial as the COP29 summit in Baku aims to mobilize hundreds of billions of dollars for climate initiatives.