G7 Fail To Deliver On Fossil Fuel Promises At Italy Summit
Today, G7 leaders released a joint communique, marking a significant failure to build on the momentum from last year’s UN COP28 decision to transition away from fossil fuels.
New Oil Change International data shows that G7 nations are not leading on climate either at home or abroad. G7 countries represent 27% of global oil and gas production, and will be responsible for nearly 48% of CO2 pollution from planned oil and gas expansion – the equivalent lifetime emissions of nearly 600 coal plants. They are also major providers of taxpayer finance for international fossil fuel projects, providing USD $25.7 billion a year in international public finance for fossil fuels, compared to USD $10.3 billion for clean energy.