G7 nations vow to stop fossil-fuel financing abroad by end 2022

G7 nations vow to stop fossil-fuel financing abroad by end 2022

Use of fossil fuels in electricity sectors to end by 2035

Japan's State Minister of Environment Toshitaka Ooka speaks to German Minister for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection Steffi Lemke next to Japan's Minister for Economic Affairs, Trade and Industry Kenichi Hosoda during the G7 meeting in Berlin. AFP

By AFP Published: Fri 27 May 2022, 5:03 PM

Japan on Friday for the first time joined fellow members of the Group of Seven industrialised nations in pledging to end public financing for fossil fuel projects abroad by the end of the year to help combat global warming.

"We commit to end new direct public support for the international unabated fossil fuel energy sector by the end of 2022," G7 energy and climate ministers said in a joint statement following talks in Berlin.

The term "unabated" refers to projects that do not employ techniques to offset some of the pollution caused by carbon dioxide emissions.

Ending subsidies for the international fossil fuel energy sector was already part of a series of commitments agreed to by around 20 countries at last year's COP26 climate summit in Glasgow.

Six of the G7 club of rich nations were among the signatories at the time - Britain, Canada,