Greenpeace: G8 Leaders Fall Short on Fossil Fuel Phase out

Press release - 26 June, 2010
Toronto-- The following is an analysis from Kumi Naidoo, International Executive Director of Greenpeace, in reaction to the G8 declaration just released:

“Greenpeace has given the G8 leaders poor grades on their performance on climate change following the Huntsville Summit. We put forth four simple demands that the G8 leaders could have followed to stop catastrophic climate change.

First: The leaders should honour their promise to prevent catastrophic climate change.

Status: Failed

The G8 leaders have failed to commit to greenhouse gas emission reductions that would prevent global climate change catastrophe. They have reaffirmed their commitment to keeping global temperature rise below 2 degrees, but their support for the Copenhagen Accord sets us on a course for a 3 degree world or more, and climate chaos.

Second: The leaders should provide clear evidence they are phasing out subsidies to the fossil fuel industry.

Status: Incomplete

While the G20 is expected to announce details on a phase out of fossil fuel subsidies in their communiqué on Sunday, the G8 today has instead announced new subsidies for dirty energy – carbon capture for fossil fuels and nuclear power

Third: To lead the world in building a green energy future, the G20 must create the financial and regulatory conditions that incentivize a green economy and agree on the indicators and reporting mechanisms needed to monitor progress.

Status: Failed

We need more than platitudes on building a green economy. We need targets and timetables; we need detail on programs; regulations; and price mechanisms. The G8 has delivered none of these.

Fourth: The leaders should provide new, additional funding to fight climate change in the developing world.

Status: Incomplete

The G8 has reaffirmed they are putting in place their fast-start climate contribution, but it is far from clear that these funds are new and additional. To rob development to fund climate is not progress. Furthermore, the global phase out of fossil fuel subsidies in wealthy countries is estimated to come to $100 billion annually.

That is the exact same amount of money the Leaders committed to provide for climate finance and renewable energy developments by 2020.  Clearly they have a source to make good on that commitment.


for the full checklist please see here