(Bloomberg) -- Finance ministers from the Group of 20 countries will for the first time recognize the role of carbon pricing as part of efforts to tackle climate change, according to people familiar with the matter.

But the communique of the G-20 meeting in Venice, set to be finalized on Saturday, will stop short of calling for net zero emissions by 2050, the people said, citing a draft of the statement. They spoke on condition of anonymity to discuss ongoing deliberations within the group.

While some of the biggest G-20 members, including the U.S., China and European Union countries have set their own net zero goals already, those who are more reliant on fossil fuels have held back.

United Nations Secretary Antonio Guterres on Friday said all G-20 countries should commit to having net zero by mid-century to keep alive the prospect of limiting global warming to 1.5 degrees Celsius compared to pre-industrial levels.

However, a draft of the final communique shows that ministers have only been able to agree on less ambitious language to have a low greenhouse gas emissions strategy, the people said. That replicates what was agreed by countries in the 2015 Paris Agreement.

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