Factbox-Key excerpts from G7 statement on energy and climate change

Factbox-Key excerpts from G7 statement on energy and climate change

Gas investments

“Recognising the primary need to accelerate the clean energy transition through energy savings and gas demand reduction, investment in the gas sector can be appropriate to help address potential market shortfalls provoked by the crisis, subject to clearly defined national circumstances, and if implemented in a manner consistent with our climate objectives and without creating lock-in effects, for example by ensuring that projects are integrated into national strategies for the development of low-carbon and renewable hydrogen.”

Renewable energy

“The G7 contributes to expanding renewable energy globally and bringing down costs by strengthening capacity including through a collective increase in offshore wind capacity of 150 gigawatt by 2030 based on each country’s existing targets and a collective increase of solar (photovoltaic) to more than 1 terawatt by 2030.”

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