ELMAU CASTLE | The leaders of the G7 have agreed on the creation of a “climate club” intended to strengthen and broaden cooperation in the fight against global warming, according to a joint declaration published Tuesday at the end of their summit in Germany.
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This climate club will be an "intergovernmental forum of great ambition" open to all countries, explain the seven leaders.
“We invite our partners, including major emitters, G20 members and other developing and emerging economies, to intensify discussions and consultations with us,” the statement continued.
This body, led by Germany, which is chairing the G7 this year, aims in particular to bring together countries that accept common rules to avoid competitive disadvantages.
These countries would jointly set ambitious targets and exempt each other from climate-related trade tariffs to which non-members would be subject.
This would include agreeing carbon pricing standards or uniform regulations for green hydrogen.
At this point, neither Japan nor the United States intends to introduce a national carbon price, but conservationists hope that a new momentum will emerge from this initiative.
Members of this club will “share best practices” in the fight to reduce CO2 emissions “including through explicit carbon pricing, other carbon mitigation approaches and carbon intensities,” the statement explains.
“There are different points of view on measures such as pricing (of carbon, editor’s note)”, admitted Mr. Scholz during a press conference, wishing that the club “not be limited to the G7 (Germany , United States, United Kingdom, Japan, France, Canada, Italy), but includes many other countries”.