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G7 Pledges to Accelerate SDGs, Transition From Fossil Fuels This Decade

G7 Pledges to Accelerate SDGs, Transition From Fossil Fuels This Decade

International Institute for Sustainable Development (IISD)byInternational Institute for Sustainable Development (IISD)
June 21, 2024
in Biodiversity, Climate Change, Environment, ESG FINANCE, Global Leaders, Politics & Foreign Affairs, Society, Sustainable Finance
0

The Group of 7 (G7) leaders from Canada, France, Germany, Italy, Japan, the UK, and the US, with the EU, have wrapped up a three-day summit, united in their “steadfast commitment” to implementing the 2030 Agenda for Sustainable Development. They pledged to redouble their efforts to accelerate progress towards the SDGs, including by transitioning away from fossil fuels in energy systems in this decade.

The G7 Leaders’ Summit took place in Apulia, Italy, from 13-15 June 2024.

The 36-page Apulia G7 Leaders’ Communiqué reiterates the Group’s “enduring unity and determination to meet global challenges… as the international community confronts multiple interconnected crises.” It reaffirms the leaders’ “shared belief in democratic principles and free societies, universal human rights, social progress, and respect for multilateralism and the rule of law.” The document further signals the leaders’ intention to support more effective, inclusive, and equitable global governance and to safeguard international peace and security while upholding “the free and open rules-based international order.”

The leaders recognize that in the context of achieving the SDGs, “reducing poverty and tackling global challenges go hand in hand.” They indicate they are “doing [their] part” to make multilateral development banks (MDBs) better, bigger, and more effective, with the World Bank boosting its lending by USD 70 billion over the next ten years.

According to the communiqué, the leaders are taking steps to address the triple planetary crisis of climate change, pollution, and biodiversity loss, including by submitting ambitious nationally determined contributions (NDCs), aligned with the 1.5°C temperature goal. They pledge to “spearhead global efforts to preserve forests and oceans, and to end plastic pollution.”

With respect to energy, climate and environment, the communiqué states the G7 “will transition away from fossil fuels in energy systems in a just, orderly, and equitable manner, accelerating actions in this critical decade, to achieve net-zero by 2050 in keeping with the best available science.” The leaders “will operationalize these commitments” through domestic policies and actions and through “intensive efforts to reduce demand for and use of fossil fuels.” They “reaffirm [their] commitment to eliminate inefficient fossil fuel subsidies by 2025 or sooner and will report in 2025 on progress made.”

At the same time, the leaders reaffirm that the transition to a net-zero economy “should be inclusive and leave no one behind,” enhance social development and economic growth, maximize benefits for local economies, and address “negative social or economic impacts that may arise from climate action.”


Related Articles: The 2019 SDG Finance Geneva Summit Roundup | All SDGs ‘Seriously Off Track,’ UN Report Finds | How the UNFCCC Can Tackle Fossil Fuel Subsidies at COP28 and Beyond | Climate Bailout: A financial tool to save the climate | EU Calls World to Climate Action: Phase-Out Fossil Fuels Ahead of COP28

Other commitments articulated in the leaders’ communiqué span the areas of sustainable development, food security, infrastructure, labor and employment, health, gender equality, inclusion and disability, and migration. Global economy and finance; trade; science, technology, and innovation (STI); artificial intelligence (AI); and cybersecurity are also among the issues addressed.

The communiqué further discusses fostering partnerships with African countries and regional issues, including in relation to Ukraine and Gaza. Other areas of focus include disarmament and non-proliferation, safeguarding democratic processes, and anti-corruption, as well as countering terrorism, violent extremism, and transnational organized crime.

The G7 leaders launched several initiatives, including the Apulia Food Systems Initiative (AFSI), the Energy for Growth in Africa initiative, the G7 Coalition to Prevent and Counter the Smuggling of Migrants, and the G7 Working Group on Transport Supply Chains.

Other announcements made include:

  • The leaders will unlock at least USD 20 billion over three years in investments to boost women’s empowerment.
  • The leaders intend to launch “an action plan on the use of AI in the world of work and develop a brand to support the implementation of the International Code of Conduct for Organizations Developing Advanced AI Systems,” welcoming the Italian Presidency’s decision to establish the AI Hub for Sustainable Development, in collaboration with the UN Development Programme (UNDP).
  • The leaders commit to establishing a G7 Working Group on Fusion Energy.

The G7 leaders were joined by the leaders from Algeria, Argentina, Brazil, India, Jordan, Kenya, Mauritania, Tunisia, Türkiye, and the United Arab Emirates (UAE). The President of the European Council and the President of the European Commission represented the EU. [G7 Italia 2024] [SDG Knowledge Hub Story on G7 Hiroshima 2023]

** **

This article was originally published by the International Institute for Sustainable Development (IISD) and is republished here as part of an editorial collaboration with the IISD. It was authored by Alec Crawford,  Director of Nature for Resilience at IISD.


Editor’s Note: The opinions expressed here by the authors are their own, not those of Impakter.com — In the Cover Photo: G7 leaders at the Italy summit. Cover Photo Credit: IISD.

Tags: CBD COP 16G7HLPF2024Our Common AgendaUNFCCC COP 29
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