G7 promises to ‘decarbonize’ power sector and end subsidies to fossil energy abroad – 05/27/2022

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BERLIN, 27 May 2022 (AFP) — The G7 countries this Friday (27) pledged to “decarbonize” most of their power sector “by 2035” and stop funding fossil energy projects later this year.

According to a joint statement following a meeting of climate and energy ministers in Berlin, “we are committed to achieving a predominantly decarbonised power sector by 2035 (…) and supporting the acceleration of the global phase-out of coal.” Huh.”

To achieve this goal, the group of countries pledged to “end direct public support for unlimited projects in the fossil energy sector”, the ministers announced.

The term “no mitigation” refers to projects that do not use any technology to offset the pollution caused by carbon dioxide emissions.

It is the first time that the seven industrial powers (the United States, Japan, Canada, France, Italy, the United Kingdom and Germany) have committed themselves to a goal in this sense.

Ending subsidies for international projects that use fossil fuels was one of the resolutions adopted by 20 countries at the COP26 climate conference held in Glasgow last year.

At that time, all G7 countries followed this commitment except Japan.

“It is good that Japan, which is the world’s main financier of fossil fuels, has joined the other G7 countries,” Alden Meyer, an expert at European think tank E3G, told AFP.

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