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G7 Countries Reaffirm Net-Zero Ambition, Acceleration of Carbon Management
7th May 2024
In a communiqué issued following a two-day Climate, Energy and Environment Ministers’ Meeting convened under Italy’s 2024 G7 Presidency April 29-30 in Turin, ministers from the G7 group (Canada, France, Germany, Italy, Japan, the United Kingdom and the United States) aligned on a range of energy policies aimed at keeping global net-zero goals within reach.
Building on and reaffirming their intention to implement the COP28 energy outcomes, G7 ministers underscored the important role that carbon management technologies play in the transition to net-zero.
“We recognize that carbon management technologies, including CCU/carbon recycling, CCS and CO₂ removal measures, particularly in hard to abate sectors are an essential component of the transition to net-zero as also underlined in the CMA.5 GST [the first United Nations Framework Convention on Climate Change Global Stocktake]. Therefore, we affirm the importance of significant increase in the pace and scale of deployment of carbon management technologies and infrastructure, as well as promoting development of export/import mechanisms for CO₂, and further noting the work of those Parties participating in the Carbon Management Challenge to support a global goal of advancing carbon management projects that would reach gigatonne scale by 2030,” the G7 said in the communiqué.
Ministers also agreed to phasing out existing unabated coal power generation by 2035 and support implementation of other energy pledges made at COP 28, including
- Tripling installed renewable energy capacity to 11TW by 2030
- Doubling the global average annual rate of energy efficiency improvements (to 4%)
- A fully or predominantly decarbonized power sector by 2035
- Transitioning away from fossil fuels in energy systems
- Reducing non-CO₂ carbon emissions and other climate pollutants
- Methane emissions reductions from fossil fuels and waste sector, enhanced methane data transparency and accuracy, and reductions in flaring/venting
- Road sector decarbonization
- Phasing out inefficient fossil fuel subsidies.
Linkages to the Carbon Management Challenge, a global call to action to accelerate the deployment of carbon capture, removal, use, and storage technologies, signal G7 support for international efforts on CCS and other carbon management technologies. Launched at the April 2023 Major Economies Forum, the Carbon Management Challenge currently includes twenty countries from around the world plus the European Commission. G7 countries Canada, Japan, the United Kingdom and the United States are among the twenty countries participating in the Challenge.
The Global CCS Institute commends the progress made by the G7 and reaffirms its commitment to support countries and industry in accelerating the deployment of CCS and carbon dioxide removal (CDR) technologies globally to meet global climate, energy and environment ambitions.