G7 Vows to Hasten Shift to Cleaner Energy, But No Timetable Set for Phasing Out Coal-Fired Power Plants

Key Highlights :

1. The G-7 energy and environment ministers have reaffirmed their commitment to accelerating the clean energy transition to net-zero greenhouse gas emissions by 2050 at the latest.

2. The G-7 leaders recognized the importance of finding efficient, affordable and diverse energy sources, which “underscore our commitment to implementing immediate, short- and medium-term action in this critical decade.”

3. The call to action comes as China and other developing countries step up demands for more help in phasing out fossil fuels and stabilizing energy prices and supplies amid disruptions from Russia's war on Ukraine.

4. The issue of setting a timeline for phasing out coal-fired power plants is a longstanding sticking point. Japan relies on coal for nearly one-third of its power generation and is also promoting the use of so-called clean coal, using technology to capture carbon emissions, to produce hydrogen — which produces only water when used as fuel.

5. The document issued Sunday reiterated the need to urgently reduce carbon emissions and achieve a “predominantly decarbonized power sector” by 2035. The stipulation that it be “predominantly” clean energy leaves room for continuation of fossil-fuel fired power.

6. The ministers agreed to prioritize steps toward phasing out “unabated” coal power generation — plants that do not employ mechanisms to capture emissions and prevent them from escaping into the atmosphere.

7. The G-7 nations account for 40% of the world’s economic activity and a quarter of global carbon emissions. Their actions are critical, but so is their support for less wealthy nations often suffering the worst effects of climate change while having the fewest resources for mitigating such impacts.

      The Group of Seven (G7) wealthy nations have recently announced their commitment to work towards a faster shift to cleaner, renewable energy, but have yet to set a specific timetable for phasing out coal-fired power plants. The G7 countries, which include Britain, Canada, France, Germany, Italy, Japan and the United States, have recognized the need for a phased-in transition away from coal, taking into account the economic and political realities of each country.

      At the conclusion of their annual summit in Sapporo, Japan, the ministers released a statement emphasizing their efforts to ensure that all countries have access to affordable, reliable and environmentally friendly energy. They have also acknowledged that fossil fuels will eventually be replaced by renewable energy sources.

      The G7's commitment to promote the use of energy from renewable sources, such as solar and wind power, is aimed at achieving a low-carbon future for all countries. They have further pledged to develop new technologies to make it easier to switch to cleaner energy, indicating a significant push towards the development and utilization of innovative green technologies.

      The ministers' statement comes at a critical time as the world faces the growing impact of climate change, including increased occurrences of natural disasters and adverse weather conditions. The G7 countries' decision to hasten the shift towards cleaner energy is a significant step towards mitigating the effects of climate change and reducing greenhouse gas emissions.

      Although no specific timeline has been set for the phase-out of coal-fired power plants, the G7's commitment to transition away from fossil fuels marks a significant shift in global energy policy. The economic and political realities of each country will play a critical role in the pace of transition, but the G7's commitment to a cleaner, more sustainable energy future is a positive indication of progress in the fight against climate change.

      In conclusion, the G7's commitment to hasten the shift to cleaner energy is an important step towards a sustainable future for all. While the phasing out of coal-fired power plants may not be immediate, the G7's pledge to transition away from fossil fuels is a promising sign for the future of renewable energy and the mitigation of climate change.

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