(Finance) – The ministers of G7 Climate, Energy and Environment they close the two days in Turin, at the Royal Palace of Venaria, with the adoption of a Joint Declarationwhich gives a clear follow-up to the objectives agreed at COP 28 and sends a clear message to other countries, in particular the major economies, on the commitment needed to respond adequately to the challenge of climate changeambitiously and effectively.
“It was intense work”explained the Minister of Environment and Energy Security, Gilberto Pichetto Fratinpresident of the G7 Climate, Environment and Energy, adding “we have arrived at vote with conviction the achievement of the objectives we had set ourselves, a step forward compared to the Dubai plan. It was a bridge operation between Cop28 and Cop29.”
Among the new commitments and programs that emerged during the meeting are progressive abandonment of fossil fuelswhose first stage is represented byexit from coal in the first half of the next decade (first half of the 2030s) or in a period consistent with maintaining the temperature increase within one and a half degrees”. “It is the first time that a commitment and an objective has been indicated”, commented Minister Pichetto Fratin.
The topic of the gasif the commitment to is excluded “reduce methane emissions” and of “free ourselves from remaining Russian gas imports”. Among the commitments undertaken by the G7 Ministers in the field of energy sources is also that of “encourage the strong growth of renewables through the multiplication of energy storage capacity”, “promote the collaboration in the fusion energy sector“, another important victory, and “secure a just transition to clean energy in developing countrieswith particular reference to Africa”.
Among the other commitments undertaken is to increase the safety and sustainability of critical raw materialsdelete the greenhouse gas emissions other than CO2, create a “G7 Hub” to accelerate adaptation actions and develop a voluntary agenda on circular textiles and fashion.
Particular importance is given to water, through the establishment of a “G7 coalition on water” and the commitment to meet at least once a year to talk about water resources. “The 2023 UN Water Conference brought a significant change to the global narrative on water and reset expectations regarding the scale of international collaboration needed to overcome the global water crisis,” explains the G7 outcome document, warning however, “the world is still far from achieving the objectives and goals related to water”.
(Photo: Courtesy of G7 Italy)