The ‘Venaria Charter’ approved at the G7, farewell to coal by 2035: all the news

ROME – Progressive abandonment of fossil fuels, the first stage of which is the exit from coal; encourage the strong growth of renewables through the multiplication of energy storage capacity; promote G7 collaboration in the fusion energy sector; free ourselves from remaining imports of Russian gas; reduce methane emissions; increase security and […]

ROME – Progressive abandonment of fossil fuels, the first stage of which is the exit from coal; encourage the strong growth of renewables through the multiplication of energy storage capacity; promote G7 collaboration in the fusion energy sector; free ourselves from remaining imports of Russian gas; reduce methane emissions; increase the safety and sustainability of critical raw materials; eliminate emissions of greenhouse gases other than CO2; create a “G7 Hub” to accelerate adaptation actions; establish a “G7 Coalition on Water”; develop a voluntary Agenda on circular textiles and fashion; ensure a just transition to clean energy in developing countries, with particular reference to Africa.

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These are some of the main innovations, in terms of new commitments and programs, that emerged from the G7 Climate, Energy and Environment meeting in Turin held in Venaria Reale which give a precise follow-up to the objectives agreed at COP 28, and a clear message to other countries, in particular to the major economies, on the level of commitment needed to adequately respond to the challenge of climate change, in an ambitious, effective and at the same time affordable way. “I am very satisfied with the results of the G7 and I thank the delegations for the excellent work done” states the Minister of the Environment and Energy Security Gilberto Pichetto. “It was in fact possible, with a common commitment, to combine the different needs and sensitivities in the name of a shared objective which is environmental and energetic but also based on solidarity between the G7 countries and the developing ones. The decisions taken on the exit from coal, on the multiplication of energy storage capacity, on support for adaptation in the countries of the South of the world, on fusion energy – adds Pichetto – It is important that the large economies of the planet assumes the responsibility and the financial burden of leading the challenge for the ecological transition and of implementing a new model of sustainable development”.

The final document of the Summit, in reiterating the commitments already undertaken in the previous sessions of the G7, begins the concrete and significant implementation. In particular on the energy front, the G7 countries have committed to closing their coal plants within the first half of the next decade (2035 at the latest) or in any case on a date compatible with the objective of keep the temperature increase within one and a half degrees, in the meantime limiting its use to the minimum necessary. On the subject of renewables, to implement the commitment made at COP 28 to triple production capacity by 2030, the G7 have committed to contributing to increasing energy storage capacity sixfold by 2030, bringing it up to 1.5 TW, globally.