during of the final press conference G7 Minister's Meeting On Climate, Energy & Environment on April 30, 2024 in Turin, Italy. This week it is the turn of G7 Finance Ministers to meet on the shores of Lake Maggiore, Italy.
Finance ministers can push the world even further forward by working to ensure that financial commitments, including public investments and subsidies, are fully aligned with the ambition to transition away fossil fuels, as agreed at COP28. Ministers need to commit to reaching 100 per cent decarbonised power systems by 2035 in advanced economies and by 2040 for other countries, at the latest, and to agree support for countries in the Global South to help them diversify their economies and to develop net-zero pathways. This support should include finance and capacity-building for just transition planning to ensure that no-one is excluded in the move towards a clean tech economy and the transition is as fair as possible.