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G7 Climate Club aims to decarbonize industry
New high-ambition intergovernmental forum to accelerate climate action, cooperation
The Asset 30 Jun 2022

Leaders of the G7 group of most industrialized nations have, during their summit in Germany on Tuesday, committed to creating by the end of the year an international Climate Club that will forge cooperation on climate change and push for the decarbonization of industrial sectors.

The club, according to a statement by the group, will be an intergovernmental forum of high ambition, open to countries that are committed to the full implementation of the Paris agreement and the pledges undertaken as part of the Glasgow Climate Pact.

The G7 also invited partners – major emitters, G20 members and other developing and emerging economies – to work with the club to promote ambitious climate policies around the world. And it extended the same message to international organizations like the Organization for Economic Cooperation and Development, International Monetary Fund, World Bank, International Energy Agency and World Trade Organization asking for their expertise.

“We aim to support the effective implementation of the Paris agreement by accelerating climate action and increasing ambition, with a particular focus on the industrial sector, thereby addressing risks of carbon leakage for emission-intensive goods, while complying with international rules,” it states.

The club is to be built on three pillars:

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