G7 urged to collaborate rather than compete on renewables

Posted at May 21, 2023 » By : » Categories : News » Comments Off on G7 urged to collaborate rather than compete on renewables

The G7 should work together and not compete on renewables, the President of the European Commission has said.

Speaking at the G7 leaders’ summit in Hiroshima, Ursula von der Leyen highlighted the acceleration of the clean energy transition despite geopolitical challenges.

She stressed the need for competition to drive the creation of manufacturing capacity rather than undermining each other’s progress.

The EU aims to process 40% of the critical raw materials it consumes by 2030, significantly reducing its dependence on China.

Currently, China supplies over 90% of the essential minerals required for wind power generation and batteries.

Von der Leyen suggested that the G7 should establish targets for global clean manufacturing capacity and forge green alliances among themselves and with other partners.

She also proposed the creation of a Critical Raw Materials Club during the G7 meeting to address concerns about fair competition.

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