Business Coalition Puts Energy Transition on G7 Agenda

The We Mean Business (WEB) coalition of more than 1,000 businesses is calling for Group of Seven (G7) governments to deliver specific policies to help accelerate the transition of the global economy to net zero emissions mid-century. The report has been published ahead of a gathering of G7 world leaders in Germany, being held from 26-28 June. WEB commissioned socio-economic analysis and modelling from Cambridge Econometrics, which demonstrated that the clean energy transition is affordable and in the economic best interest for nations. The report modelled a business-as-usual scenario versus an accelerated transition scenario where governments have delivered policies to accelerate the transition away from fossil fuels. The report claimed that its analysis showed that low-carbon transition will reduce future energy bills and create jobs while maintaining GDP growth in both advanced and developing economies.

 

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