When the leaders of the world’s largest economies, United States, Germany, Canada, Japan, Great Britain, France, and Italy, otherwise known as the G7, met last week to discuss the global economy, climate and energy were high on the agenda, given the heightened level of concern and the major climate talks coming up later this year in Paris.
The group took a bold step, pledging to completely phase out greenhouse gas emissions by the century’s end, and to cut somewhere between 40 and 70% by 2050. Can they back it up? Not by themselves. These seven countries currently represent about a third of the world’s GHG emissions. That means they can have a significant impact, but they can’t do it without help, especially from rapidly growing economies like China (now the #1 emitter), India (#4) and Russia (#5). That will not be easy, considering that even among those in the G7, consensus did not come easily. Both Canada and Japan pushed back before finally agreeing to sign on to the statement that said, “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.”
KEYWORDS: Energy, Environment and Climate Change, G7, China, India, Russia, US, Canada, Japan, Germany, Great Britain, France, Italy, UNFCCC, Paris Conference, fee and dividend, COP21, Justmeans