Green industry: G7 sets out terms for global ‘climate club’

(EurActiv, 13 Dec 2022) German Chancellor Olaf Scholz presented the long-awaited terms for his ‘climate club’, a platform for countries wishing to protect the climate. However, it may be overshadowed by similar initiatives recently announced.

Scholz first proposed a ‘climate club’ initiative in 2020, during his time as finance minister. Gathering “ambitious, bold and cooperative” countries, the concept seeks to unify large states in their climate schemes, such as carbon pricing.

On Monday (12 December), Scholz approved a concrete text on the project with the G7, the world’s wealthiest industrial nations.

Simultaneously, key talks to agree the EU’s carbon border levy (CBAM) are being held in Brussels – and news of a US-EU “steel club” broke on Wednesday.

“We have worked intensively on the idea since then and today have agreed on initial terms of reference, thus establishing the Climate Club,” he explained in Berlin. Germany holds the rotating G7 presidency in 2022.

The club’s four-page “terms of reference” – a constitution of sorts – describes it as a “high-ambition intergovernmental forum for discussion”.

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EurActiv, 13 Dec 2022: Green industry: G7 sets out terms for global ‘climate club’