Germanwatch is critically following this year's G7 Summit (26-28 June 2022 in Schloss Elmau) under the German Presidency. We are contributing constructively at various levels of discussion in the run-up to the summit, during the summit and in the follow-up. Our particular focus is on the climate, development and financial policy agenda.
At the forthcoming G7 Ministerials this week and next, Germany should push for stronger joint efforts to exit international fossil fuel financing. Considering the latest IPCC findings and the urgent need to stop investment in coal, oil and gas, the financial activities of public finance institutions (PFIs) play an important role to achieve the goals of the Paris Agreement. This paper analyses the alignment of German and Korean PFIs’ climate and sector strategies with the Paris Agreement and makes recommendations on how their strategies can align with a 1.5°C goal.
With the war against Ukraine dragging on for over a month now, the vulnerabilities of the G7 and, particularly, of low- and middle-income countries have become increasingly visible. As leading industrialised countries and, historically, major contributors to the climate crisis, the G7 will need to live up to their responsibility to support countries in building resilience to climate impacts and other global crises. In this blog, we outline possibilities for the G7 to address the vulnerabilities in their own countries, and far beyond, to increase resilience against future crises while also supporting other nations.
The leading industrialised countries have a particular responsibility to address the climate crisis – but they failed to meet their former commitments. The German G7 presidency now offers the opportunity to take important steps towards a new paradigm for climate finance. Against that backdrop, this policy brief formulates five key asks to the G7 governments.
Just weeks after the new coalition government took office, Germany took over the Presidency of the G7. The G7 Presidency provides the new federal government an opportunity to demonstrate the importance it attaches to international climate policy and ambitious climate protection. The coalition agreement lays out the government’s course. This briefing paper identifies issues on which the new federal government is already sending strong signals, as well as opportunities and gaps.
This year’s COP results have been heavily debated. Along with the negotiations, various initiatives were launched, and these received considerable attention. Examples are an initiative to end international fossil fuel finance, a partnership with South Africa to support the country’s just transition, and a pledge to reduce methane emissions. The G7 should build on the COP’s positive dynamics and support a strategy to avoid greenwashing of the announcements, and provide alternative solutions where the COP process could not deliver.