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At the official G20 prelude to the World Sustainable Development Summit 2023, co-hosted by the Energy & Resources Institute and the Institute for Governance & Sustainable Development, key ambassadors from G20 countries addressed the challenges and opportunities for collective action to accelerate and scale climate action and deploy climate finance in this decisive decade. During the discussion of how collective effort drives development and keeps 1.5 degree C target within reach, the speakers highlighted that the earth is warming at record speed and could careen past the 1.5°C safe temperature limit as early as 2026. To prevent the worst consequences, global decision-makers must address the twin challenges—long-term climate stabilization, and urgently slowing the rate of near-term warming.