Borgo Egnazia, Italy – At the conclusion of the G7 Summit, Greenpeace International has called on G7 leaders to get their priorities clear and commit to significantly scaled-up climate and biodiversity finance and an accelerated shift away from fossil fuels.
Greenpeace International Climate Politics Expert Tracy Carty said: "If these embattled leaders want to leave a lasting legacy, they need to heed the will of voters demanding a safe environment and climate. Taxing the billions of dollars in profits of the fossil fuel industry to fund climate action at home and abroad could be their stake in history and a win for people and planet."
While G7 leaders noted they "look forward" to agreeing a new climate finance goal at the UN climate talks in Azerbaijan (COP29), they must now come prepared to break the impasse around the level of finance that stalled negotiations at the Bonn Climate Change Conference.
Tracy Carty added: "The world can't afford a repeat of the alarming stand-off seen in Bonn. G7 leaders need to seize the moment ahead of the UN climate talks in Baku and show they will lead the transition away from fossil fuels and build trust they will significantly increase climate finance support to developing countries.
"To stay below 1.5°C, the G7's plan to phase out coal is simply too little, too late and gas is neither cheap nor a bridge fuel to a safe climate. People around the world deserve and expect better as their lives and children's future depend on it."
Greenpeace International Biodiversity Program Manager Irene Wabiwa said: "It's an important first step for G7 leaders to re-confirm they will provide US $ 20 billion per year by 2025 and 30 billion by 2030 for biodiversity as part of the CBD's Global Biodiversity Framework target, but now it's time to act.
"Rich countries like the G7 have sufficient resources to provide the targeted finance to developing countries without delay and without resorting to false solutions such as carbon and biodiversity credits and offsets.
"The world is already providing an estimated US $ 1.9 trillion in subsidies to nature-destroying industries and spending US $ 20 billion to protect biodiversity is only a fraction of what's required."
Greenpeace Italy Executive Director Giuseppe Onufrio said: "Climate change is having strong impacts in Italy and the Mediterranean with sea surface temperature anomalies recorded last April in the Adriatic Sea close to 7°C – a recipe for disaster.
"Heatwaves and floods are reminding us of the price of climate inaction. Damages and victims are piling up, but the Italian government was unable to set a decent climate agenda for the G7 meeting.
"What is required now is action and leadership that does not involve technofixes and false solutions, like carbon capture and storage (CCS) and nuclear, which are only just going to pave the way for more fossil fuels."
