The G7 nations agreed on Friday to end international funding for carbon projects that emit carbon dioxide to meet agreed climate change goals.
According to Reuters, the suspension of fossil fuel financing is seen as an important step towards limiting the increase in global temperatures to 1.5 ° C compared to pre-industrial times, which, according to the scientists, would avoid the more devastating effects of this phenomenon. Climate change.
Read also: End support for charcoal stoves in the “Clean Air” program
In a statement seen by Reuters, the world’s largest economies – the United States, the United Kingdom, Canada, France, Germany, Italy, Japan – and the European Union pledged to take concrete steps by the end of 2021 to eliminate direct government support for coal-fired power plants without emissions capture and storage technology (the so-called Coal relentlessly). As Reuters explains, this has not been used widely in energy production.
Alok Sharma, Chair of the COP26 Climate Summit, has made halting international coal financing a “personal priority” to help end the world’s dependence on fossil fuels.
The G7 countries also agreed to “work with other global partners to accelerate the adoption of zero-emission vehicles”, massively decarbonize the energy sector in the 1930s and move away from international financing of fossil fuels, although no specific date has been set for that goal. They also affirmed their commitment to implementing the 2015 Paris Agreement (PAP).
We recommend other articles on similar topics:
CJEU ruling in the Turow case – a big surprise to some, an expected fact for others (May 24, 2021)District Heating Strategy: More Efficient Systems, Grid Development, and Renewable Energy Support (May 20, 2021)Bełchatów Power Plant – a major failure, from which we were able to exit without power outage (May 19, 2021)WWF: In the past 20 years, forests the size of France have grown around the world (May 12, 2021)There will be another amendment to the Environmental Impact Assessment Act, this time in relation to the coal mining concessions (May 11, 2021)