G7 vows to step up moves to renewable energy, zero carbon

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Financial Post G7 meeting

Energy and environment ministers from the Group of Seven (G-7) nations pledged to accelerate the transition to cleaner, renewable energy but didn’t set a timeline for phasing out coal-fired power plants.

The G-7 reaffirmed its commitment to achieving net-zero greenhouse gas emissions by 2050 and called for ending new unabated coal-fired power generation projects as soon as possible to hasten the clean energy transition in a fair manner. The leaders emphasized the need to reduce carbon emissions urgently and achieve a predominantly decarbonized power sector by 2035 while ensuring that supplies of critical minerals meet high environmental and social standards. Japan received support for its own national strategy, including clean coal, hydrogen, and nuclear energy.

\MORE INFO: Financial Post

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