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Why the G7’s Energy Offer to the Global South Could Backfire

Indonesian Finance Minister Sri Mulyani (R) shaking hands with U.S. Treasury Secretary Janet Yellen (L) and the CEO of the Millenium Challenge Corporation, Alice Albright at the signing of Indonesia's Just Enegy Transition Partnership in 2022. Image: Stefani Reynolds / AFP

2023 is on track to be the hottest year in recorded human history. The summer’s record heat waves, fires, and floods come as attempts by U.S. and Chinese lawmakers to restart talks about climate cooperation seem to be foundering on geopolitics.

The climate collapse is putting particular pressure on the Global South, despite these countries’ culpability being far smaller than that of the Global North and China. Developing countries face the double challenge of transforming their energy economies while meeting development goals.

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