G-7 forms climate club to combat global warming – India Today
Leaders from the Group of Seven (G7) have committed to forming a new “climate club” for countries that want to take a more active stance to combat global warming. The G7 is a club of the world’s major economies, who had gathered in Elmau, Germany, along with leaders from Argentina, India, Indonesia, Senegal, and South Africa, as well as Ukraine.
The climate club is the brainchild of German Chancellor Olaf Scholz, who will be looking upon nations to join the club to commit to harsher measures to decrease greenhouse gas emissions, with the goal of keeping global temperatures from rising more than 1.5 degrees Celsius.
Members of the club will attempt to coordinate their policies so that they are similar and do not impose tariffs on each other’s imports connected to climate change. The plan has been given a green light by the leaders though the final details are yet to be ironed out, which will happen by the end of the year.
The G-7 leaders maintain that the new club will be “inclusive in nature and open” to countries determined to fully follow the 2015 Paris climate agreement, but the plan is unlikely to gain traction, particularly with China, the world’s largest emitter.
Meanwhile, China has made it clear that it will not favour any climate-related policies and tariffs and tried to get developing nations on their side.
Environmentalists were relieved that current pledges to phase out coal use and increase the use of electric vehicles had not been reversed. The G-7 did soften their commitments to end public support for fossil fuel investments.
Environmentalists, scientists, and United Nations Secretary-General Antonio Guterres have asked rich, industrialised nations to stop all public funding for fossil fuel projects, saying that they might absorb more carbon emissions and may become obsolete in a matter of years.
The G-7 also made clear their continued support for efforts to cap global warming at 1.5 Celsius (2.7 Fahrenheit) this century compared to preindustrial times, outlining numerous measures they will take to curb their own emissions and help poorer nations do the same.
In their final statement following three days of talks in Elmau, the G-7 leaders said that because of the exceptional circumstances arising from the war in Ukraine, “publicly supported investment in the gas sector can be appropriate as a temporary response.”