G7 Climate Club formally launched at COP28

Context

  • At the 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change to formally launch the Climate Club an initiative aimed at cooperation between countries in decarbonising the industrial sector.

About Climate Club

  • Led by Germany and Chile, the Climate club has garnered support from 36 member countries including Kenya, the European Union, Switzerland and others.
  • They have each committed to efforts in developing strategies and standards for decarbonisation.
  • The Club is claimed to currently represent 55 per cent of the global economy.

Climate club work programme 2024

  • The Climate Club aims to make decarbonisation of industries successful for climate and businesses, through ambitious policies, alignment of methodologies and standards and improving finance and assistance for emerging and developed economies.
  • The Club’s core idea is based on the fact that the hard-to-abate sectors, including steel, cement, and chemicals, are responsible for about 70 per cent of global CO2 emissions from industry, and developed countries account for a significant share of these emissions.
  • At the launch of the Club at COP28, the Climate Change Work Programme 2024 was put forward which details programmatic activities of the club. The activities are divided into three key pillars:-
    • Pillar 1: Advancing ambitious and transparent climate change mitigation policies.
    • Pillar 2: Transforming industries
    • Pillar 3: Boosting international cooperation and partnership 
Climate Club formally launched at COP28
Courtesy: DTE
  • The governance framework details that two co-chairs will be elected for two-year terms for the Club.
  • Currently, Germany and Chile serve as the co-chairs.
  • A body of members will determine the scope and approve the work programme, budget and amendments.
  • Furthermore, a steering group will be formed to support the body of members when the Club reaches 40 members. A secretariat will be formed to implement the work program.
  • Currently, OECD and IEA are the joint interim heads of secretariat.
  • The work programme for 2024 will focus on the steel and cement sectors.
  • The launch emphasised the need to speed up the availability of comparable emissions intensity data (module I-1) and its role in overcoming challenges facing the computation of intensity.
  • The work programme will also concentrate on establishing definitions for green steel and green cement (module II-1). Lastly, setting up a matchmaking platform with a focus on improving industry decarbonisation projects (module III-3).
  • The representative of the United Kingdom highlighted three key areas of focus within the Climate Club.
    • First, the importance of creating baselines for sustainable standards in industrial products.
    • Second, understanding and addressing the carbon leakage risk.
    • Third, support for workers and industries.
  • The UK pledged support through financial assistance, contributions to the Green Climate Fund and collaboration with the Breakthrough Agenda to make clean technologies more affordable.

Source: DTE

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