On the occasion of the 41st G-7 Summit held in Schloss Elmau, Germany, on June 7-8, 2015, the world economic leaders and their invitees focused on global economy, foreign policy, health and climate change challenges.
On climate change, the G-7 leaders expressed their full support for the UN’s Intergovernmental Panel on Climate Change recommendation of moving from 40% to 70% greenhouse gas reductions by 2050 compared to the 2010 levels.
In an objective to implement “a decarbonisation of the global economy over the course of this century”, the G-7 leaders committed to “achieve a low-carbon global economy in the long-term including developing and deploying innovative technologies striving for a transformation of the energy sectors by 2050 . . . [t]o this end [they] also commit to develop long term national low-carbon strategies.”
Additionally, in their communique, the G-7 leaders emphasize “diversification as a core element of energy security and aim to further diversify the energy mix, energy fuels, sources and routes” – which may reinitiate the question of shale gas development in Europe.
Written by Chloe Marie - Research Fellow