Stop coal by 2035, for the first time a commitment on water, and the recognition of the Italian line on nuclear power and biofuels. Gilberto Pichetto Fratin, Minister of the Environment and Energy Security, declares that the objectives set for the G7 Climate, Energy and Environment have been achieved, in the two-day meeting at the Royal Palace of Venaria. “We have achieved the objectives we had set ourselves – he proclaimed in the final press conference – the G7 took a step forward, we were a bridge between the COP28 in Dubai and the COP2, demonstrating the leadership of the most industrialized countries.the ‘Venaria Charter’, I like to call it that, is an important step by the G7 and a group of countries that want to act as a driving force and stimulus“. Pichetto underlined “the strong commitment to exiting coal, the source of the greatest emissions, with an exit objective indicated in the first half of the next decade. It is the first time that a path and an objective have been indicated.”
Likewise, the G7 countries “have raised the issue of water for the first time, there is a commitment and a precise focus”. On nuclear power, he continues, “there was an important debate, with an agreement that provides for joint work on research and production of energy considered clean, in perfect line with Italy’s requests”. As for biofuels, “The topic has been included as a commitment, with the signature of important European countries such as France and Germany. We are going even further with the inclusion of the support of Brazil, which will be the leader of the next G20, this means strengthening the front of the alliance, therefore the objective has been fully achieved”. Italy also “strongly raised the issue of growth and equality in Africa, which was welcomed by all countries as important”.
“We need to help and make the African continent grow, it’s not just solidarity and cooperation but integration, this requires a mechanism for the financial framework and investments to encourage economic and social growth”
The main points of the final document
- Carbone: Agreement to phase out coal-fired power generation during the first half of the 2030s or in a period consistent with keeping temperature increases within one and a half degrees. The formulation takes into account the needs of countries such as Germany and Japan which are among the largest users.
- Nuclear: The G7 “is committed to promoting international collaborations to accelerate the development of fusion pilot plants and encourage increased private investment and public commitment to solve research challenges and develop international supply chains and workforces.” Also envisaged is the establishment of a working group “to share best practices and explore areas of mutual interest cooperation between countries with the aim of strengthening cooperation in research and development between countries and to establish a G7 exchange to promote coherent approaches to merger regulations, where appropriate.” –
- Renewable: The G7 supports the need to triple the global production capacity of electricity from renewables by 2030, also aiming to strengthen energy security. In particular, it is intended to contribute to the global energy storage objective in the energy sector of 1,500 GW in 2030, in practice increasing six times the 230 GW of 2022. We also recall the IEA analysis according to which “investments in global network must nearly double by 2030 “to more than $600 billion per year to meet announced national climate goals, significantly increasing investment in electricity transmission and distribution networks to 2030 with the aim of expanding , strengthen, modernize and digitalize networks to support the tripling of global renewable capacity and strengthen energy security. It also intends to “promote the development and implementation of stationary battery storage to increase efficiency and reduce costs.”
- Water: the G7 establishes in the final document a ‘G7 Coalition for Water’. The Coalition intends to “identify common objectives and strategies to catalyze shared ambitions and priorities to address the global water crisis, integrate water and its intersectoral relevance in an effective and coherent way through existing forums and processes, including by increasing political attention on water globally, increasing the impact of the G7 and integrating other global initiatives”
- Emissions: G7 countries commit to “pursue a collective effort to reduce global methane emissions from fossil fuels by 75%, including reducing the methane emissions intensity of oil and gas operations by 2030.” The measures will be implemented “through the development of a robust methodology and the use of measured data and with collaboration with non-G7 producers to reduce the intensity of methane emissions from imported fuels by recognizing IEA emissions reduction scenario”. Furthermore, the G7 commits to “accelerate measures on methane in line with the global level of reduction of at least 35% of methane emissions by 2035 reflected in the 1.5 degree IPCC scenarios
- Russia: The G7 reaffirmed commitment “to reducing dependence on civil nuclear-related goods from Russia, including promoting a diversified fuel supply chain free from Russian influence, and assisting countries seeking to diversify your offer”. The document approved at the end of the Venaria summit recognizes “the ongoing efforts by countries operating Russian reactors to secure contracts for alternative nuclear fuels and to reduce dependencies relating to spare parts, components and services. We condemn the seizure, the control and militarization of the Ukrainian nuclear power plant in Zaporizhzhia, which poses serious nuclear security risks, with implications for the broader international community. We underline the importance for all countries and their peoples to uphold the highest safety standards, safety, security and non-proliferation, especially as more and more countries adopt nuclear energy as an integral part of their energy mix.”