G7 commits to end support for coal-fired power stations this year

g7 coal fired power support
Middle East
  • Date: 22-May-2021
  • Source: Saudi Gazette
  • Sector: Oil & Gas
  • Country: Middle East
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G7 commits to end support for coal-fired power stations this year

BRUSSELS — The world’s richest countries have pledged to end public support for coal-fired power stations this year. Three weeks before a summit in England, the G7 countries pledged "ambitious and accelerated efforts" to reduce their CO2 emissions. Made up of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, the G7 said limiting the rise in temperature to below 1.5°C above pre-industrial levels would require "significant action by all countries and in particular the major emitting economies". The 1.5°C target is the point at which scientists believe climate change will get out of hand. To achieve this the countries are first targeting coal, which they say is “the main cause of rising temperatures”. "Recognizing that continued global investment in coal-fired power generation is incompatible with the 1.5°C objective, we insist that international investment in unmined coal must stop now,” the group said in a statement. The move comes six months ahead of a crucial COP26 climate summit in Glasgow. German Environment Minister Svenja Schulze, said it was "an important step forward, because only in this way can we, as industrialized countries, credibly demand that others follow us in this direction". "It is a very strong signal

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