{"id":832392,"date":"2024-06-14T15:14:09","date_gmt":"2024-06-14T09:44:09","guid":{"rendered":"https:\/\/leverageedu.com\/discover\/?p=832392"},"modified":"2024-06-14T15:14:09","modified_gmt":"2024-06-14T09:44:09","slug":"exam-prep-g7-summit-upsc","status":"publish","type":"post","link":"https:\/\/leverageedu.com\/discover\/indian-exams\/exam-prep-g7-summit-upsc\/","title":{"rendered":"G7 Summit: Climate Change,Net-Zero Goals, Gandhi Statue, and Quad Climate Pacts\u00a0"},"content":{"rendered":"\n

The G7 countries, which include major economies like the US, Japan, and Germany, met for their summit. They agreed on goals to fight climate change, like reducing emissions by 2025. This is because scientists are increasingly worried about climate change getting worse. At the same summit, India’s Prime Minister visited Hiroshima and unveiled a statue of Mahatma Gandhi, a famous peace leader from India.<\/p>\n\n\n\n

There was also a separate meeting between the leaders of the US, Japan, Australia and India, called the Quad. They discussed working together on democracy and security in the Indo-Pacific region.<\/p>\n\n\n\n\n\n\n

G7 Summit 2024 Invited Countries<\/h2>\n\n\n\n

At the ongoing G7 Summit in Italy, Prime Minister Narendra Modi has been engaging in significant bilateral meetings with world leaders, including UK PM Rishi Sunak, French President Emmanuel Macron, and Ukraine’s President Volodymyr Zelenskyy. These discussions aim to address pressing global challenges and strengthen international cooperation.<\/p>\n\n\n\n

The summit, attended by leaders from Canada, France, Germany, Italy, Japan, the UK, the US, and the EU, covers various critical issues such as the Russia-Ukraine conflict, Middle East tensions, climate change, energy transition, migration, and ethical AI usage.<\/p>\n\n\n\n

Is India Part of G7?<\/h2>\n\n\n\n

Prime Minister Narendra Modi is ready for an important trip to Italy to participate in the G7 Summit, where India has been invited as an Outreach Country. Ahead of this visit, India’s ambassador to Italy, Vani Rao, highlighted the significance of Modi’s role in engaging with global leaders on issues vital to India and the Global South.<\/p>\n\n\n\n

The summit, scheduled from June 13 to 15, marks Modi’s first international trip since starting his third term. India’s participation holds weight given its recent G20 presidency and efforts to represent the interests of the Global South. The agenda includes discussions on food security, clean energy, AI, among other key issues.<\/p>\n\n\n\n

What are the Main Climate Wishlist of the G7?<\/h2>\n\n\n\n

This table outlines the key objectives related to emissions, fossil fuel use, and net-zero targets as part of the G7’s climate wishlist.<\/p>\n\n\n\n

Climate Wishlist of the G7<\/strong> <\/td>Details<\/strong><\/td><\/tr>
Global Peak in Emissions by 2025<\/td>— G7 emphasizes the need for a global peak in emissions by 2025.

— Not mandated under the Paris Agreement, but achievable.

\u2013 Developed countries show declining emissions, but developing countries’ emissions are still rising.

— Existing commitments may lead to 11% higher emissions in 2030 compared to 2010 levels.
<\/td><\/tr>
Ending Fossil Fuel Use<\/td>\u2013 No specific deadline, but commitment to phase out “unabated fossil fuels” in line with 1.5\u00b0C trajectories.

— Aims to eliminate “inefficient fossil fuel subsidies” by 2025 or earlier.

— Claim to have halted financing for new fossil fuel-based energy projects, except in limited circumstances.
<\/td><\/tr>
Net-Zero Targets<\/td>— Reiterates commitment to achieve net-zero status by 2050.

— Urges other major economies to do the same.

— Global net-zero by mid-century is crucial for the 1.5\u00b0C target.

— China targets net-zero by 2060, India by 2070.

— Developing countries’ post-2050 targets may evolve with technology and cleaner energy adoption.
<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

What are the Challenges in Implementing the G7 Climate Wishlist?<\/h2>\n\n\n\n

This table highlights the important challenges, including insufficient action, inadequate climate finance, and continued reliance on fossil fuels, in implementing the G7’s climate goals.<\/p>\n\n\n\n

Challenges in Implementing G7 Climate Wishlist<\/strong>
<\/td>		Details<\/strong><\/td><\/tr>
Insufficient Action and Inconsistencies<\/td>\u2013G7 countries account for 20% of global emissions but have not effectively fulfilled pledges.

— Lack of sufficient and consistent actions to align with 1.5\u00b0C and 2\u00b0C temperature goals.

— Failure to update nationally determined contributions (NDCs) under Paris Agreement targets.
<\/td><\/tr>
Inadequate Climate
Finance Support<\/td>		\u2013Slow and insufficient provision of climate finance to developing nations as agreed under Paris Agreement targets.

— Developing countries, disproportionately affected, need support for adaptation and resilience.

— Only 20% of climate finance from rich countries in 2019 allocated for adaptation, with minimal reaching least developed countries (Oxfam report).
<\/td><\/tr>
Continued Reliance on Fossil Fuels<\/td>\u2013Criticism for ongoing dependence on fossil fuels, especially coal.
— Fossil fuels are highly carbon-intensive, exacerbating climate change.

— G7 countries provided significant public finance for fossil fuels, surpassing investments in clean energy (Oil Change International report).
<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Why did the PM of India Unveil Gandhi\u2019s Bust in Hiroshima?<\/h2>\n\n\n\n

The Prime Minister of India unveiled Mahatma Gandhi’s bust at Hiroshima Peace Memorial Park, symbolizing Gandhi’s enduring legacy of non-violence, peace, justice, and human dignity.<\/p>\n\n\n\n