G20 sounds alarm over climate emergency despite US objections

Group's first ever reference to global heating signals growing economic concerns over climate change

The G20 group of the world's wealthiest nations have agreed for the first time to collectively sound the alarm over the threat to the financial system posed by the climate emergency.

Overcoming objections from Donald Trump's US administration, G20 finance ministers and central bank governors meeting in Saudi Arabia over the weekend agreed to issue their first ever communique with references to climate change, according to reports from Reuters.

China produces the most heat-trapping pollution, followed by the US. But historically, the US has contributed more carbon dioxide to the atmosphere than any other nation. The US also has high emissions per capita, compared to other developed countries. And Americans buy products made in China, therefore supporting China's carbon footprint.