The G7 leaders “endorse the goals of an open and cooperative international Climate Club, and will work with partners towards establishing it by the end of 2022”.
The Climate Club will seek to advance ambitious and transparent climate change mitigation policies towards climate neutrality, transform industries to accelerate decarbonization, and boost international ambition through partnerships and cooperation.
The leaders acknowledge that investment in natural gas “is necessary in response to the current crisis” and to accelerate the phase out of dependency on Russian energy, albeit as a temporary measure that does not create lock-in effects.
The Group of 7 (G7) leaders from Canada, France, Germany, Italy, Japan, the UK, and the US have concluded a two-day summit where climate action and energy transition, global food security, and the war in Ukraine featured prominently. In a communiqué, the G7 leaders condemn “Russia’s illegal and unjustifiable war of aggression against Ukraine,” and pledge to “take immediate action to secure energy supply and reduce price surges driven by extraordinary market conditions.”
According to the Executive Summary of the 28-page G7 Leaders’ Communiqué, the Group’s financial support to Ukraine in 2022 exceeds USD 2.8 billion in humanitarian aid, and the countries “are ready to grant, or have pledged and provided” an additional USD 29.5 billion in budget aid. The leaders state that they will continue with sanctions “for as long as necessary” and will aim to “reduce Russia’s revenues, including from gold.”
At the same time, the leaders undertake to “help to stabilise and transform the global economy while tackling rising costs of living” and “reaffirm [their] commitment to phase out … dependency on Russian energy, without compromising on … climate and environmental goals.” They pledge to “coordinate on … economic security, strengthen the resilience of supply chains and secure a level-playing field.”
The leaders “endorse the goals of an open and cooperative international Climate Club, and will work with partners towards establishing it by the end of 2022.” A stand-alone statement notes that the Climate Club will be built around three pillars: advancing ambitious and transparent climate change mitigation policies towards climate neutrality; transforming industries to accelerate decarbonization; and boosting international ambition through partnerships and cooperation to facilitate climate action and promote just energy transition.
The Leaders’ Communiqué notes that the G7 countries “have ended new direct government support for unabated international thermal coal power generation by the end of 2021” and “commit to end new direct public support for the international unabated fossil fuel energy sector by the end of 2022,” with some exceptions “consistent with a 1.5°C warming limit and the goals of the Paris Agreement.” However, the leaders acknowledge that investment in natural gas “is necessary in response to the current crisis” and to accelerate the phase out of dependency on Russian energy, albeit as a temporary measure that does not create lock-in effects.
In addition to the G7 Leaders’ Communiqué and a G7 Statement on Climate Club, the countries also issued a G7 Statement on Support for Ukraine, a G7 Statement on Global Food Security, and, with partner countries, a 2022 Resilient Democracies Statement.
The G7 German Presidency convened the G7 Leaders’ Summit from 26-28 June 2022 at Schloss Elmau in the Bavarian Alps under an overarching theme, ‘Progress Towards an Equitable World.’ Germany’s G7 Presidency has been pursuing five major goals: sustainable planet; economic stability and transformation; healthy lives; investment in a better future; and stronger together.
The G7 leaders were joined by the President of the European Council and the President of the European Commission, jointly representing the EU, as well as the leaders from Argentina, India, Indonesia, Senegal, and South Africa, who participated as guests. [G7 Germany] [G7 Leaders’ Communiqué] [G7 Documents] [SDG Knowledge Hub Story on G7 Environment and Development Ministerials]