The Group of Seven (G7) major industrialized nations agreed to move ahead with the creation of a new climate club by setting up a permanent office to help harmonize rules and standards with the aim of avoiding any trade disputes arising from the imposition of environmental duties on the movement of goods.
The Bloomberg news agency indicated that the G7, during the summit hosted by the German state of Bavaria for three days last June, reached an agreement on this issue. The new agreement is an important achievement for German Chancellor Olaf Scholz, who has made improving international coordination on climate protection measures a priority for his rotating G7 presidency.
"We have been working intensively on the idea since that time, and today we have reached an agreement on the initial terms of reference, and thus the establishment of the Climate Club," German Chancellor Olaf Scholz said in a statement, after talks via video conference with G7 leaders.
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