G7 countries must not leave room for fossil fuels, climate destruction

A statement by 181 organizations and supporters from 27 countries urging G7 nations to cease the promotion and financing of fossil fuel-based technologies in developing countries, specifically criticizing Japan's Green Transformation (GX) policy and the continued public financing of fossil fuels despite previous commitments.

• The undersigned organizations argue that Japan is using its G7 host position to promote its Green Transformation (GX) policy, which intends to mobilize over USD 1.1 trillion in public and private capital over 10 years to overhaul 22 industrial sectors and export Japanese technology and finance to partner countries.
• The statement characterizes Japan's 'realistic energy transition' as a derailment of just energy transition efforts because it relies on fossil fuel-based technologies such as liquified natural gas (LNG), carbon capture and storage, and the co-firing of biomass, hydrogen, and ammonia at existing fossil thermal plants.
• Analysis by Oil Change International (OCI) contradicts G7 claims of ending international fossil fuel finance; OCI found that G7 nations provided USD 73 billion in public finance for new fossil fuel projects between 2020 and 2022, which is 2.6 times the amount provided for clean energy.
• While the UK, Canada, and France are cited as having met commitments to end fossil fuel finance, Japan, Italy, and Germany have not, and the US fossil fuel finance policy is not publicly available.
• The document highlights specific contradictions in G7 leadership, noting that the US Export Import Bank (US EXIM) voted to provide nearly USD 100 million in export finance for the expansion of the PT Kilang Pertamina Balikpapan Petroleum Refinery in Indonesia.
• The authors assert that fossil gas is not a transition fuel but a risky investment that leads to debt traps, stranded assets, and emissions, noting that Japan, France, the UK, the US, Germany, and Italy are among the top financiers of post-Paris Agreement fossil gas projects in Southeast Asia.

APA

TrendAsia (2023). G7 countries must not leave room for fossil fuels, climate destruction. Trend Asia. https://trendasia.org/en/g7-countries-must-not-leave-room-for-fossil-fuels-climate-destruction/

Chicago

TrendAsia. G7 countries must not leave room for fossil fuels, climate destruction. Trend Asia, 2023. https://trendasia.org/en/g7-countries-must-not-leave-room-for-fossil-fuels-climate-destruction/.

Wikipedia

{{cite press release |last1=TrendAsia |title=G7 countries must not leave room for fossil fuels, climate destruction |publisher=Trend Asia |date=16 May 2023 |url=https://trendasia.org/en/g7-countries-must-not-leave-room-for-fossil-fuels-climate-destruction/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{trendasia2023countries, author = {TrendAsia}, title = {{G7 countries must not leave room for fossil fuels, climate destruction}}, publisher = {Trend Asia}, year = {2023}, month = may, url = {https://trendasia.org/en/g7-countries-must-not-leave-room-for-fossil-fuels-climate-destruction/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }