Leadersʼ Declaration G7 Summit 7-8 June 2015 Aims to Climate Change

11 June 2015
One of the main topics of discussion at the meeting of G7 Leaders in Germany  in June 7-8, 2015, was the problem of climate change. 

The results of this debate and the alleged intentions of the leaders in this area are reflected in the final document.

The main findings on climate change from the text:

-        2° commitment: This should enable all countries to follow a low-carbon and resilient development pathway in line with the global goal to hold the increase in global average temperature below 2 °C.

-        Decarbonisation goal/vision: Mindful of this goal and considering the latest IPCC results, we emphasize that deep cuts in global greenhouse gas emissions are required with a decarbonisation of the global economy over the course of this century. Accordingly, as a common vision for a global goal of greenhouse gas emissions reductions we support sharing with all parties to the UNFCCC the upper end of the latest IPCC recommendation of 40 to 70 % reductions by 2050 compared to 2010 recognizing that this challenge can only be met by a global response. We commit to doing our part to achieve a low-carbon global economy in the long-term including developing and deploying innovative technologies striving for a transformation of the energy sectors by 2050 and invite all countries to join us in this endeavor. To this end we also commit to develop long term national low-carbon strategies.

-        Climate finance: We reaffirm our strong commitment to the Copenhagen Accord to mobilizing jointly USD 100 billion a year by 2020 from a wide variety of sources, both public and private in the context of meaningful mitigation actions and transparency on implementation. Climate finance is already flowing at higher levels. We will continue our efforts to provide and mobilize increased finance, from public and private sources, and to demonstrate that we and others are well on our way to meet the USD 100 bn goal and that we stand ready to engage proactively in the negotiations of the finance provisions of the Paris outcome.

-        Carbon pricing and other incentives: In order to incentivize investments towards low-carbon growth opportunities we commit to the long-term objective of applying effective policies and actions throughout the global economy, including carbon market-based and regulatory instruments and call on other countries to join us. We are committed to establishing a platform for a strategic dialogue on these issues based on voluntary participation and in cooperation with relevant partners, including the World Bank.

Source: Leadersʼ Declaration G7 Summit 7-8 June 2015 

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