国际可持续发展研究所-绿色复苏时代的七国集团化石燃料投资（英文）-2021.6-65页_1mb

Summary of "Cleaning up their act?" - G7 Fossil Fuel Investments in a Time of Green Recovery

Core Content

This report examines the G7 nations' investment patterns in fossil fuels and clean energy during the early stages of the Covid-19 pandemic (January 2020 to March 2021), focusing on how these investments align with the goal of a green recovery and the 2015 Paris Climate Agreement. It highlights the urgent need for G7 countries to shift their economic recovery strategies to support a low-carbon future, while also addressing the social and economic impacts of the pandemic.

Main Findings

• G7 nations have committed more than $189 billion to fossil fuel production and consumption, compared to $147 billion to clean energy.
• Fossil fuels received over half of the total public support to energy-intensive sectors, indicating a continued reliance on carbon-intensive industries.
• Transport sector received the largest share of public money ($247 billion), with 83% of the support going to dirty energy without environmental conditions.
• Only 10% of total recovery spending was directed to the cleanest energy measures, such as renewables and energy efficiency.
• The climate crisis is expected to be a major agenda item at the 2021 G7 Leaders' Summit, but many G7 countries still lack fully green recovery plans.
• Four G7 countries (Canada, France, Germany, and the UK) have developed recovery plans that are more environmentally beneficial than harmful.

Key Points on Fossil Fuel and Clean Energy Support

• Fossil fuel support includes direct funding and environmental deregulation, which can lock in long-term carbon-intensive pathways.
• Clean energy support is often limited and lacks strong environmental conditionality, especially in sectors like transport.
• G7 countries have missed opportunities to invest in green technologies and job creation that could result from a more sustainable recovery.
• Public money commitments in the power generation and resource extraction sectors are significantly smaller than in transport, but still show a negative trend for clean energy.

Recommendations

To align with the 1.5°C temperature goal, the G7 should:

1. Adopt a 'do-no-harm' principle for all recovery spending, ending direct support to fossil fuel production and consumption.
2. Attach significant 'green strings' to any support for fossil fuel-intensive sectors, ensuring alignment with climate goals and pollution reduction.
3. Dedicate at least 40% of total recovery spending to clean energy and climate-aligned policies.
4. Support a green recovery for all, including low- and middle-income countries, by ending overseas fossil fuel finance, aligning multilateral development banks with the Paris Agreement, doubling climate finance pledges, and easing debt burdens.

Implications for Global Climate Action

• The G7 countries, despite representing only 10% of the global population, are responsible for over 24% of global CO₂ emissions.
• Their recovery spending will significantly influence global climate ambition and the feasibility of achieving the 1.5°C target.
• The 2021 G7 Leaders' Summit is a pivotal moment, with decisions expected to shape the global response to climate change and sustainable development.

Conclusion

While some G7 countries have taken positive steps towards a green recovery, the overall trend remains problematic. The report underscores the importance of aligning economic recovery with climate action and the urgent need for a just transition away from fossil fuels. It calls for greater transparency, stronger environmental conditions, and increased investment in clean energy to ensure a sustainable and equitable recovery.