T7 Italy 2024 Task Force 2 Policy Brief: Enhancing G7 Leadership in Global Climate Action

Accounting for around 40 per cent of the world’s economy, 30 per cent of its energy demand and 25 per cent of energy system CO2 emissions, the G7 is called to play a leading role in building consensus towards implementing the goals of the 2015 Paris Agreement. This policy brief argues for the urgency for the G7 to intensify its climate ambition, enhance compliance, and ensure policy coherence to maintain its leadership in global climate action. Emphasizing climate finance and gender inclusiveness as crucial levers, the brief highlights the strategic role of Africa as an essential partner in achieving an effective climate just transition. In both cases, the brief demonstrates the necessity of concrete policy reforms and measures for the G7 to adopt and implement. On the one hand, creating fiscal space through new and better finance is fundamental to African countries to deploy proper climate-resilient measures; on the other, the promotion of gender-responsive just transitions led by the G7 has the potential to impact the global transition to low carbon and net-zero significantly.