G7 nations pledge not to finance coal plants

G7 nations pledge not to finance coal plants

Berlin, May 21, 2021 (AFP) – The Group of Seven major industrialized countries in the world decided on Friday (21) to stop financing thermal power plants fired by coal at the end of this year to contribute to combating changes. Climate change.

According to the closing statement, the wealthiest countries on the planet are also committed to “decarbonizing (reducing carbon emissions)” from their electricity sources throughout the 2030s.

This means drastically reducing the use of oil, gas and coal to produce electricity.

“The Group of Seven states recognizes that any new investment in the production of electricity from carbon in the world must stop immediately, because it does not comply with the goal” to limit global warming to a maximum of 1.5 degrees Celsius by the end of the century, stipulated in the Paris Agreement, as stated In the statement.

“It is an important step forward, because only then can we, the industrialized countries, demand credibly that others follow us on this path,” said German Environment Minister Svenia Schultz.

Club members from rich nations are committed to the goal of achieving carbon neutrality “by 2050 at the latest”. Germany recently increased its climate targets to reach this target in 2045.

The United Kingdom, which currently chairs the G7, will personally host the COP26 climate conference in November in Glasgow (Scotland).

French Environment Minister Barbara Pompili added that the measure “lays the foundations for a radical transition to clean energy,” praising Japan’s decision to join the initiative.

The G7 member countries are Canada, France, Germany, Italy, Japan, the United States and the United Kingdom. The text said that they are the world’s major car manufacturers, and with this measure, they are pledging to “radically accelerate” the sector’s transition to clean energy.

See also  Nobel Prize winner warns of the dangers of a wealth tax to pay for the crisis - Coronavirus

The group will stop supporting the sector Fuel Excavations in 2025.

Meanwhile, the statement says, it is setting new environmental goals: to conserve or protect at least 30% of the planet’s surface and at least 30% of the sea surface by 2030.

At the 2015 Climate Conference (COP), in Paris, the international community pledged to take measures to limit the increase in the average temperature of the planet to below 2 ° C, equal to 1.5 ° C.

But the vast majority of the planet’s greenhouse gas emissions have failed to meet their short and medium term goals.

COP26 in Glasgow is the “last hope” for realistically keeping this goal, according to climate event president, British lawmaker Alok Sharma.

You May Also Like

About the Author: Camelia Kirk

"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

Leave a Reply

Your email address will not be published. Required fields are marked *