Chancellor Olaf Scholz’s climate club idea has met with approval from the G7 countries. They support the goals and want to work on setting up such a club by the end of 2022, according to the summit in Elmau.

The group of democratic economic powers (G7) supports Chancellor Olaf Scholz’s (SPD) idea for an international climate club. They support the goals of such an “open and cooperative” club and want to work with partners to set it up by the end of 2022, according to the final draft for the final declaration of the G7 summit in Elmau, Bavaria. This is available to the German Press Agency on Tuesday.

Olaf Scholz’ climate club: Accelerating the Paris climate goals

According to a concept paper that has also been published, the aim of the climate club is to reduce greenhouse gas emissions, including measuring and recording them. They also want to counteract a relocation of production to other countries with more lax climate requirements. Another goal should be the climate-friendly conversion of industry. With energy partnerships, the economically strong G7 countries want to help poorer countries with expertise and money in the transition to a more climate-friendly economy.

The merger will be open to countries committed to implementing the 2015 Paris Climate Agreement. At that time, the world community decided to limit global warming to well below 2 degrees compared to the pre-industrial period and to try to limit the increase to 1.5 degrees. Members should accelerate their efforts to implement the resolutions, as agreed in particular at the Glasgow climate conference. Together with partners beyond the G7, they want to advance an “ambitious climate policy” all over the world.