Includes Agreement to End Fossil Fuel Subsidies by 2025
At a meeting in Ise-Shima, in Japan, G7 countries said they would take the necessary steps to secure rapid ratification, acceptance or approval of the historic Paris Climate Change Agreement. In their joint statement, the leaders of the UK, US, Canada, France, Germany, Italy, Japan and the European Union also committed to take the lead by early, transparent and robust implementation of their national climate action plans (“Nationally Determined Contributions”). In addition, they said they were determined to accelerate work towards the transition to an energy system that enables a decarbonization of the global economy. And for the first time, the G7 set a deadline for ending most fossil fuel subsidies, pledging to end government support for coal, oil and gas by the end of 2025. Here is the relevant relevant excerpt from the statement, which also covers clean energy, climate finance, aviation and HFCs.
Climate Change, Energy, Environment
Welcoming the historic achievement in Paris, we reaffirm not only our continuous commitment in our global efforts against climate change, but also our determination to maintain the momentum of COP21 and ensure swift and successful implementation of the Paris Agreement including the long-term aims on mitigation, adaptation, and finance. In this context, we welcome the fact that nearly every party to the United Nations Framework Convention on Climate Change (UNFCCC) has signed the Paris Agreement, including all G7 members. The G7, continuing to take a leadership role, commits to taking the necessary steps to secure ratification, acceptance or approval of the agreement as soon as possible and calls on all Parties to do so striving for a goal of entry into force in 2016.
We commit to take the lead by early, transparent and robust implementation of our nationally determined contributions, and promoting increased ambition over time. We also commit to actively participate in the regular review of global stock-take progress every five years. We also commit to formulating and communicating mid-century long-term low GHG emission development strategies well ahead of the 2020 deadline, mindful of the significance of holding the increase in the global average temperature to well below 2°C above pre-industrial levels, and of pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels as well as of achieving a balance between anthropogenic emissions by sources and removals by sinks of GHGs in the second half of the century.
We encourage all Parties to engage constructively in technical work with a view to agreeing upon detailed rules for the effective and transparent implementation of the Paris Agreement by all countries, including by the major emitters. Recognizing that we, together with other donor countries, are making steady progress toward achieving the goal of jointly mobilizing USD 100 billion annually by 2020 in the context of meaningful mitigation actions and transparency on implementation, we continue our efforts to provide and mobilize increased climate finance from public and private sources. We encourage other countries to provide or continue to provide and mobilize climate finance, to assist developing countries with respect to mitigation and adaptation and to implement their national climate plans (NDCs). We welcome the commitments made by MDBs and development finance institutions to deliver increased levels of climate finance. We call on MDBs and development financial institutions to mainstream climate change actions across development strategies and use to the fullest extent possible their balance sheets and their capacity to mobilize private financing and other partners in support of country-led programs to meet this goal. In the context of this goal, we also emphasize our continuous commitment of mobilizing finance and promoting the transfer of appropriate technology and capacity-building to support adaptation planning and actions in the most vulnerable developing countries in response to their growing needs.
We welcome the progress to date and are ready to further promote the relevant initiatives on climate risk insurance, early warning systems and renewable energy in Africa, such as InsuResilience, CREWS and the Africa Renewable Energy Initiative. We further welcome the involvement of the private sector, subnational entities, and others through the Lima-Paris Action Agenda. We recognize that innovation is critical for an effective, long-term global response to our shared climate challenge,and intend to play a leading role in Mission Innovation. We also welcome the leadership of the private sector community in this regard. We recognize the important role of providing incentives for emission reduction activities, including tools such as domestic policies and carbon pricing. We welcome the establishment of the Carbon Market Platform and its first strategic dialogue to be held in Tokyo.
Recognizing the urgent need for effective efforts in the field of international aviation, we express our strong commitment to work together for the adoption of a Global Market-Based Measure (GMBM) in order to enable carbon neutral growth from 2020, through engaging constructive dialogue, by reaching a decision at the 39th session of the International Civil Aviation Organization (ICAO) Assembly. We encourage all world leaders to join us in supporting a decision later this year. We also recognize the importance of mitigating emissions of short-lived climate pollutants including black carbon, hydrofluorocarbons (HFCs), and methane to help slow the rate of near-term warming. In particular, we resolve to drive down our methane emissions and further recognize the importance of adopting domestic measures.
We welcome the decision in Dubai by the Montreal Protocol parties to work to address HFCs under the Montreal Protocol, and we support adoption of an ambitious Montreal Protocol HFC phase-down amendment in 2016, and intend to provide additional support through the Multilateral Fund following adoption of an amendment for its implementation. Given the fact that energy production and use account for around two-thirds of global GHG emissions, we recognize the crucial role that the energy sector has to play in combating climate change. We remain committed to the elimination of inefficient fossil fuel subsidies and encourage all countries to do so by 2025.
Energy plays a crucial role in sustaining global economic growth. With this in mind, we commit to play a leading role in facilitating energy investments, and encourage relevant stakeholders, despite the increased uncertainty posed by the current energy price levels, to sustain their investments in energy sector, in particular in quality energy infrastructure and in upstream development, so that we can mitigate risks to future growth of global economy. We recognize the important role that the energy system has to play in the implementation of the Paris Agreement. In this regard, we are determined to accelerate our work towards the transition to an energy system that enables a decarbonization of the global economy. We reiterate our strong support for Mission Innovation and commit to further investments in supporting innovation in energy technologies and encouraging clean and energy efficient products, facilities and buildings, so as to ensure economic growth with reduced GHG emissions. We support the enhanced efforts on energy efficiency and use of renewable energy, including hydro, as well as other domestic resources.
See the full statement here.
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