G7 SUMMIT

At the summit on June 8 the group of seven leaders agreed to wean their economies off carbon fuels and supported a global goal for reducing greenhouse gas emissions, but they stopped short of agreeing their own immediate binding targets.

In a communiqué after their two-day summit in Bavaria, the G7 leaders endorsed the need for reducing global greenhouse gas emissions at the upper end, ranging from 40 to 70% by 2050 (and using 2010 as a basis). The range was recommended by the IPCC, the United Nations’ climate-change panel.

The leaders also backed a global target for limiting the rise in average global temperatures to two degrees Celsius compared with pre-industrial levels.

The communiqué read: ‘We commit to doing our part 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, and invite all countries to join us in this endeavour.’

The G7 host, Angela Merkel of Germany, who was once dubbed the ‘climate chancellor’, had hoped to revitalise her environmental credentials by getting the G7 nations to agree specific emission goals ahead of the United Nations climate conference in Paris at the end of the year.

Whilst the leaders stopped short of agreeing any such immediate binding targets for their economies, green lobby groups nonetheless welcomed the direction of their agreements.

A statement given by WWF Global Climate and Energy Initiative, said: ‘They’ve given important political signals, but they could have done more, particularly by making concrete national commitments for immediate action… We had hoped for more commitments on what they would do right now.’

The Europeans had pressed their G7 partners to sign up to legally binding targets for reducing greenhouse gas emissions.

Russia Sanctions

A firm stance was taken on Russia and its involvement in the Ukraine conflict. Merkel said the G7 countries were ready, if necessary, to strengthen sanctions against Russia.

The leaders want Russia and Ukraine to comply with a February 12 ceasefire agreed in the Belarus capital Minsk that largely halted fighting in eastern Ukraine between pro-Russian separatists and Ukrainian government forces.

Mrs Merkel said: ‘We are also ready, should the situation escalate, which we don’t want, to strengthen sanctions if the situation makes that necessary, but we believe we should do everything to move forward the political process of Minsk.’

The communiqué specifically addresses the issue, and the leaders said they expected Russia to stop its support for separatist forces in Ukraine and by implementing the Minsk agreements in full. The sanctions, they said, ‘can be rolled back when Russia meets these commitments.’

Greece

The Greek debt crisis was discussed by the leaders as a group and also in bilateral meetings during the summit at the foot of Germany’s highest mountain, the Zugspitze.

Mrs Merkel said there was not much time left for a debt deal to keep Greece in the Eurozone and that Europe was prepared to show solidarity if Athens implemented economic reforms:

‘We want Greece to remain part of the euro zone but we take the clear position that solidarity with Greece requires that Greece makes proposals and implements reforms.’

‘There isn’t much time left. Everyone is working intensively… Every day counts now,” Mrs Merkel said.

Greece’s leftist government last week rejected proposals for a cash-for-reforms deal put forward by European lenders and the International Monetary Fund, but has yet to put forward its own alternative to unlock aid funds that expire at the end of June.