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G7 pins hopes on ‘climate club’ as the saviour of 1.5C target
(Eco Business, 30 Jun 2022) With Chancellor Olaf Scholz keen to use Germany’s presidency of the G7 to create an international ‘climate club’, James Norris looks at what such an arrangement could mean.
One of the achievements of COP26 in Glasgow, according to a UK government statement, was that it kept alive the goal of keeping average global temperature rise within 1.5C. That this can be considered an achievement probably explains a growing sense of urgency about whether this ambitious target will be met at all.
The realisation has dawned that, despite all the global agreements on climate change dating back to the Kyoto Protocol in 1997, progress on climate action is too slow, with the serious risk that the 2030 emissions targets under the Paris Agreement will be missed.
A new approach is needed to galvanise efforts and persuade all countries to play their part in fighting climate change. One idea that has quietly been building momentum over a number of years is the “climate club”.
It has found favour in international policy circles, and has now gained serious political backing from German Chancellor Olaf Scholz, who is also currently chairing Germany’s G7 Presidency. In January this year, Scholz, addressing a high-powered audience at the World Economic Forum in Davos, declared: “We will use our Presidency of the G7 to turn that group into the nucleus of an International Climate Club.”
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Eco Business, 30 Jun 2022: G7 pins hopes on ‘climate club’ as the saviour of 1.5C target
