June 14, 2024, Global – Leaders of some of the most powerful and wealthiest economies in the world, gathered in Italy for the G7 meeting, released today a joint communiqué, which falls short of the strong and ambitious commitments needed to support a fair and equitable global energy transition. The millions of euros spent by far right and conservatives to caricature the Green Deal of policies such as carbon pricing and the security vs. climate divide, while promoting false solutions, have distracted from the vital shift away from fossil fuels that's essential not just for our climate, but to put people first and protect Europeans by building a safe economy and long-lasting peace.

Besides, recent polling shows that, in the fastest-warming continent, 84% of citizens believe that strong EU climate legislation is needed to protect the environment in their country. European decision makers cannot ignore this fact.  

Harjeet Singh, Global Engagement Director for the Fossil Fuel Non-Proliferation Treaty Initiative, said:

“The G7 nations have once again failed to fulfill their obligations in responding to the climate crisis. Wealthy countries bear a significant responsibility to developing countries for the harm they've inflicted through years of extractive exploitation of resources and the consequent impacts caused by climate change. They owe trillions of dollars annually to hundreds of millions of people suffering and dying from climate impacts like floods, droughts, extreme weather, and air pollution. Instead of continuing to expand and fund the fossil fuel industry nationally and in developing, fossil-fuel dependent Global South countries who want to transition but don't have the resources for it, they must integrate substantial climate finance commitments into their national budgets, and impose punitive taxes on fossil fuel corporations and the super-rich — those who have profited most from the exploitation of our planet. As we witness the devastating climate impacts on people and nature, our patience has run thin. 2024 is the year of Climate Finance and G7 nations must fulfill their obligations and start putting money on the table to pay their fair share.”

The G7 summit was the first meeting after the COP28 decision to transition away from fossil fuels in Dubai last year, and the last opportunity for these countries to meet before COP29, where it is expected of them to agree to a new climate finance goal to pay for the transition.