G-7 Ministers Commit To Work For Carbon-Free Electricity By 2035
Context:
Climate and energy ministers and envoys from the G-7 countries agreed on Sunday to strive towards achieving carbon-free electricity production by 2035 and “accelerating” the phase-out of coal. The countries reached an agreement at the end of a two-day session in Sapporo, Japan, ahead of the G-7 summit in Hiroshima in May.
Points to Ponder:
- Climate and energy ministers and envoys from the G-7 countries have agreed to work towards carbon-free electricity production by 2035 and to accelerate the coal phase-out.
- The deal was made in Sapporo, Japan, ahead of the G-7 summit in Hiroshima in May.
- The proposal to phase out coal by 2030 was rejected, and ongoing investment in gas was allowed as a stopgap against energy shortages.
- Participants also agreed to increase investments in solar and wind energy to create 1,000 gigatonnes of solar power and 150 gigatonnes of wind power from off-shore platforms by 2030.
- The final agreement stated that fossil fuel subsidies are incompatible with the Paris Agreement’s aims and that the phase-out of inefficient fossil fuel subsidies is a critical component of delivering on the Paris Agreement.
- According to India’s Environment Minister, Bhupendra Yadav, developing countries, like India, require finance, technology, and assistance from wealthy countries to transition away from fossil fuels.
- Madhura Joshi, a senior associate at the climate change think-tank E3G, expressed disappointment that the G-7 did not take stronger and bolder action on climate change, but emphasized the role of clean energy in strengthening energy security and pledged to phase out unabated fossil fuels.
G7
- The Group of Seven (G7) comprises the world’s seven greatest advanced economies: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
- The G7 was established in 1975 to promote economic cooperation among its members and to provide a venue for discussing and addressing global challenges.
- The G7 meets once a year to discuss a variety of subjects such as economic growth, security, and global challenges such as climate change.
- The G7 countries account for roughly 40% of the global GDP and 10% of the global population.
- In recent years, the G7 has been chastised for being overly elitist and neglecting to address some of the most serious global issues, such as poverty and inequality.
- In the context of its G-20 chairmanship, India was asked to attend the G7 meeting as a “guest” in 2021.
- The G7 recently focused on climate change, pledging to aim toward carbon-free electricity production by 2035 and hastening the phase-out of coal.
- The G7 has also emphasized the importance of clean energy in improving energy security and has vowed to phase out wasteful fossil fuel subsidies.
- Some have criticized the G7 for not taking stronger and bolder action on climate change.
