Turin, Italy – The G7 Climate, Energy and Environment Ministers meeting has concluded with a coal phase out deadline that is too little too late and a further damaging endorsement of fossil gas.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n\n
Tracy Carty, Global Climate Politics Expert, Greenpeace International, said:<\/strong><\/p>\n\n \u201cThe commitment to phase out coal is simply too little, too late. If they are serious and aligned with what the science says is needed to keep 1.5\u00b0 within reach, G7 countries must ditch this dinosaur, planet-wrecking fuel no later than 2030. And the climate emergency demands they just don\u2019t stop at coal. Fossil fuels are destroying people and planet and a commitment to rapidly phase out all fossil fuels – coal, oil and gas – is urgently needed. <\/p>\n\n \u201cFaced with climate catastrophe, the G7\u2019s persistent endorsement of fossil gas is alarming. Gas is not needed, not cheap and is certainly not a \u2018bridge fuel\u2019 to a safe climate. The biggest fossil fuel threat today by wealthy nations is coming from the rapidly expanding LNG industry. An urgent shift is needed towards less, not more, gas – and massively expanded renewables.<\/p>\n\n \u201cG7 Climate and Energy Ministers offered little to inspire confidence in their commitment to agree to an ambitious new climate finance goal at COP29 later this year. Given their wealth and historically high emissions, G7 countries are among those with primary responsibility for providing international financial support to developing countries for climate action. By the G7 Summit in June, leaders need to make clear they will not be heading to the COP empty handed and be ready to significantly increase support. They need look no further than taxing the fossil fuel industry and other high emitting sectors in order to generate revenues to do so.\u201d<\/p>\n\n Ir\u00e8ne Wabiwa, Project Manager, Greenpeace International said:<\/strong><\/p>\n\n \u201cG7 Ministers reiterated the Convention on Biological Diversity’s COP15 commitment of US$20 billion by 2025 per year of finance for biodiversity. Unfortunately, they also promoted carbon credits and offsets as key solutions to both generate money flows and protect forests. Wealthy countries such as the G7 have enough financial resources to deliver the US$20 billion to developing countries by 2025 without reverting to false solutions. Estimates <\/a>show that the world is already spending US$1.9 trillion per year on subsidies to industries that are destroying nature. US$20 billion is equivalent to only 1.1% of that amount.\u201d <\/p>\n\n ENDS<\/p>\n\n Contacts<\/strong><\/p>\n\n Greenpeace International Press Desk, +31 (0)20 718 2470 (available 24 hours), pressdesk.int@greenpeace.org<\/a><\/p>\n\n