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G7 Revise Energy Commitments

ENERGY

G7 leaders have agreed to largely decarbonize their power sectors by 2035 and to stop funding power plant projects abroad that do not use technology to capture their emissions.

  • The group made commitment to decarbonize the road transport sector, increasing the sale, share and uptake of zero emission vehicles. They also agreed to work on phasing out coal powered energy but failed to set a date to do so. Japan and the US are believed to have the greatest difficulty setting a date for ending coal use.
  • G7 nations are set to start reporting publicly next year on how the countries are delivering on a past commitments to end inefficient fossil fuel subsidies by 2025.
  • The Russian energy situation has thrown a spanner in the works for climate targets as countries prioritise energy security measures ahead of emissions though the G7 group said the situation should not derail such targets.
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