G20 agreement clings to 1.5°C target

Why it matters: It may influence diplomats heading into the final days of COP27.

Catch up fast: The G20 meeting emerged as a parallel climate summit, producing high-level steps but few details.

• President Biden and Chinese President Xi Jinping broadly agreed to have the nations resume talks on climate.
• It also brought a multinational finance plan to help Indonesia move off coal.

The intrigue: The communique reiterates last year's COP26 push to phase down coal-fired power. But it doesn't endorse a wider move away from all fossil fuels, despite India's push at COP27.

• It also nods toward reforming multilateral developing banks, which has wide support among leaders in Egypt.

Reality check: While the 1.5°C target is a benchmark for limiting climate harms, the steep global emissions cuts needed to keep it from slipping away are nowhere in evidence.