The G7 countries want to stop financing coal-fired power plants abroad

The G7 countries want to stop financing coal-fired power plants abroad

Deadline by end of 2021. Commitment is to fully decarbonise all energy sectors by 2030

(Photo: Qilai Shen / Bloomberg) G7 members pledged to fully decarbonise all their energy sectors by 2030, and to stop any direct investment in the production of energy from coal in foreign countries by the end of this year. After two days of discussions and an initial resistance from Japan, the 7 most economically developed nations in the world reached an important agreement to pursue the energy targets set by the Paris Agreement and limit global warming to 1.5 degrees. br>
In the past, Italy, France, Germany, the United Kingdom, Canada, Japan and the United States have played an important role in financing the development of fossil fuels in developing countries, contributing to the creation of new mines and power plants coal-fired electric. As well as China and South Korea which, together with Japan, had offered to support the construction of this type of power plant in the poorest countries with liquidity problems. It took two days of intense diplomatic work to persuade Japan to cut its funding for coal-fired energy development in other countries. As the Guardian reports, if Korea has already agreed to end this practice, China has not yet aligned with other major world economies and for Japan this could mean China's entry into all countries that need energy. and the construction of power plants with lower efficiency standards than the Japanese ones.

Therefore, in the final document produced by the ministries of the environment of the G7 countries, in which the states undertake to eliminate "direct government support for fossil energy" and to achieve "climate neutrality", it is there is also a clause that would authorize governments to finance coal in "limited circumstances at the discretion of each country". A kind of "opening" that could be configured as a geopolitical tool to limit Chinese influence abroad.

China, therefore, remains the "special guard", also in view of the next international climate conference, Cop26, which will take place in Glasgow in November. United Nations Deputy Secretary-General Amina Mohammed has requested all member countries to present their national plans to reduce CO 2 emissions before the conference starts, which China has not yet done.

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China Climate Cop26 Europe Japan United States globalData.fldTopic = "China, Climate, Cop26, Europe, Japan, United States "

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