G7 fossil fuel phase out

The We Mean Business Coalition calls on G7 nations to lead the global energy transition by embedding specific phase-out timelines for unabated fossil fuels into their new Nationally Determined Contributions (NDCs). The statement advocates for the decarbonization of power systems by 2035, the tripling of renewable energy capacity by 2030, and the reform of fossil fuel subsidies by 2025. It emphasizes that early transition will enhance long-term competitiveness, energy security, and public health, while urging G7 countries to provide finance and capacity-building to the Global South for 1.5°C-aligned economic pathways.

• The G7 is urged to set national targets and timelines within new NDCs for the phase-out of unabated fossil fuels to align with the 1.5°C target and the UAE Consensus, supported by policies for a just transition for workers and communities.
• The document proposes several specific deadlines for G7 action: achieving fully decarbonized power systems by 2035, communicating national action plans to reform fossil fuel subsidies by 2025, and tripling renewable energy capacity and doubling energy efficiency improvements by 2030.
• G7 countries are called upon to assist the Global South in diversifying energy systems and creating 1.5°C-aligned economic pathways through capacity-building and finance that avoids increasing unsustainable sovereign debt.
• The statement argues that countries and companies that transition from fossil fuels to clean energy most rapidly will gain a competitive advantage through improved energy security, affordability, economic growth, and public health.

APA

We Mean Business Coalition (2024). G7 fossil fuel phase out. https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/g7-fossil-fuel-phase-out/

Chicago

We Mean Business Coalition. G7 fossil fuel phase out. 2024. https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/g7-fossil-fuel-phase-out/.

Wikipedia

{{cite press release |author=We Mean Business Coalition |title=G7 fossil fuel phase out |date=24 April 2024 |url=https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/g7-fossil-fuel-phase-out/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{wemeanbusinesscoalition2024fossil, author = {{We Mean Business Coalition}}, title = {{G7 fossil fuel phase out}}, publisher = {We Mean Business Coalition}, year = {2024}, month = apr, url = {https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/g7-fossil-fuel-phase-out/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }