Abstract:

Actions by governments in the Group of Seven (G7) can play a vital role in advancing inclusive, secure and sustainable energy transitions worldwide and addressing the climate crisis. In 2023, the International Energy Agency (IEA) was invited by G7 Leaders at the Hiroshima Summit to develop advice on how to address the triple challenges of energy security, climate change and rising geopolitical risks. Building on the climate and energy outcomes of Japan’s G7 Presidency in 2023, this IEA report responds to this mandate by setting out energy security and climate actions aligned with a pathway to limiting global warming to 1.5 °C. Diversity is a key watchword: diverse energy sources and supplies, diverse clean energy supply chains, including manufacturing and critical minerals. This report offers guidance on the implementation of global commitments and outlines opportunities for building bridges between advanced and emerging economies across the G7, G20 and COP processes, notably on clean energy investment and finance.