G7 signs agreement to suspend international coal financing – poca Negócios

G7 signs agreement to suspend international coal financing - poca Negócios

Air pollution (Photo: Getty Images)

As The seven largest developed economies in the world On Friday agreed to stop international financing for coal-emitting coal projects by the end of this year. Carbon, In addition to gradually phasing out support for all fossil fuels to meet global goals related to climate change.

Stopping funding for fossil fuels is seen as a major step that the world can take to limit the rise in global temperatures to 1.5 ° C from the pre-industrial period – which, according to scientists, is one of the most important changes in climate change. Avoid destructive effects.

Japan’s participation in a group supporting the end of international financing for coal projects in such a short time means that countries that support raw materials such as China are increasingly isolated and more willing to abandon its use. Pressure may be encountered.

In a statement seen and anticipated by Reuters, the group of seven countries – the United States, the United Kingdom, Canada, France, Germany, Italy and Japan – and the European Union said that ‘international coal investment is’ unabated’ (which they do not). Their emission offset is) must now end ”.

“We are committed to taking concrete steps towards the complete interruption of new governmental support for the production of thermal energy by internationally ‘unburned’ coal by the end of 2021, including official development assistance, export financing, investment and financial and commercial Support for publicity is included. “

The G7 nations also agreed to “work with other global partners to accelerate the development of zero-emission vehicles”, decarbonizing the energy sector “drastically” in the 2030s and moving away from international fossil fuel financing , Is not mentioned despite the time limit for the fulfillment of this objective.

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US climate envoy John Kerry called on the G20 countries (a group of the world’s 20 largest economies) to join measures defined by the G7.

Sarah Gracie

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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