Transitioning to an economy powered by renewable energy is a significant challenge. It requires enormous technological and political will - as well as investment targeting the right areas, or 'transition finance'. But the world is undergoing a seismic shift, with old alliances fracturing and the multilateral system creaking. As a result, the energy transition is slipping down the list of global priorities, and President Trump's move to disentangle the US from global efforts has dented progress further.

Yet, transition finance is needed now more than ever. This policy brief examines how the G20 - a key multilateral forum - could meet such a challenge. Representing about half of the world's population, the G20 has enormous economic and political influence; its endorsements of initiatives and roadmaps can have a cascading effect on other countries, and its technical working groups bridge to efforts beyond the G20's remit to support wider global agendas.

The US' 2026 G20 Presidency presents yet another challenge. It is understood that transition finance is one of many workstreams not being brought forward from South Africa's Presidency. Despite this, attempts must be made to keep this key issue on the table in Miami.

In an effort to both protect multilateralism and ensure it is as effective and impactful as possible, this brief also sets out recommendations for presidencies that will succeed the US.

Report by the Overseas Development Institute