G7 leaders agree for a decarbonized economy this century

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(from the UNFCCC website)

The leaders of the G7 meeting in Schloss Elmau, Germany, have released a declaration in which they commit to hold the increase in global average temperature below 2°C.
They also emphasize that, in line with the scientific assessment by the Intergovernmental Panel on Climate Change (IPCC), deep cuts in global greenhouse gas emissions (of a range of 40% to 70% by 2050, using 2010 as the baseline) are required with a decarbonization of the global economy over the course of this century.

German chancellor Angela Merkel received congratulations for succeeding in her ambition to ensure climate was not squeezed off the agenda by other pressing issues. As reported in The Guardian, some environmental groups called her “climate hero”, while the European Climate Foundation described the G7 leaders’ announcement as historic, saying it signaled “the end of the fossil fuel age” and was an “important milestone on the road to a new climate deal in Paris”.

They commit to achieving 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. To that end, G7 leaders also commit to develop long-term national low-carbon strategies.

In terms of climate finance, the G7 commit to continue efforts to provide and mobilize increased finance, from public and private sources, and to demonstrate that efforts to reach the goal of USD 100 billion are well on their way.

Additionally, in support of the most vulnerable to the impacts of climate change, leaders aim to increase by up to 400 million the number of people in the most vulnerable developing countries who have access to direct or indirect insurance coverage against the negative impact of climate change related hazards by 2020 and support the development of early warning systems in the most vulnerable countries.

They also remain committed to eliminating inefficient fossil fuel subsidies.

To read the full declaration in Pdf format, please follow this link. The declaration related to climate change begins on page 12 of the document.

More information are available on the G7 official website.

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