What G7 leaders agreed on: Russia sanctions, energy and food security

Russia sanctions

• Will explore further measures to prevent Russia from profiting from its war of aggression

• Reduce reliance on civil nuclear and related goods from Russia

• Consider comprehensive prohibition of all services that enable transportation for Russian seaborne crude oil and petroleum products globally

• Invite like-minded countries to consider joining their actions

Energy

• Explore measures to reduce price surges and prevent further impact on economies

• Encourage producer countries to increase production

• Commit to end new direct public support for international unabated fossil fuel energy sector by the end of 2022

• Acknowledge investment in LNG sector

• Commit to achieve a fully or predominantly decarbonised power sector by 2035

Food security

• Commit to an additional $4.5 billion to protect the most vulnerable from hunger and malnutrition, amounting to a total of over $14 billion, as joint commitment to global food security this year

• To stand by the commitment to keep food and agricultural markets open and call on all partners to avoid unjustified restrictive trade measures that increase market volatility and thus the risk of food insecurity

• Commit to scaling up essential nutrition services in countries with the highest burden of malnutrition

Climate club

• Aim to establish a climate club to support the effective implementation of the Paris Agreement by accelerating climate action and increasing ambition

• Open climate club to countries that are committed to the full implementation of the Paris Agreement and the decisions thereunder, in particular the Glasgow Climate Pact

• To renew strong commitment and intensify efforts to deliver on the collective $100-billion climate finance mobilisation goal as soon as possible and through to 2025