G7 plans to accelerate the phasing out of fossil fuels

At the recently concluded Group of Seven (G7) Climate, Energy, and Environment Ministers’ Meeting, relevant leaders stated that the G7 countries have agreed to accelerate the development of renewable energy, phase out fossil fuels, and set new goals for solar power generation and offshore wind power. However, the proposal by Canada and others to phase out coal-fired power generation by 2030 did not receive support, leaving room for continued investment in natural gas.

At the press conference, Japanese Minister of Economy, Industry, and Industry, Yasumi Nishimura, emphasized the importance of promoting both climate change strategies and energy security. He acknowledged that there are various ways to achieve carbon neutrality, and said that the G7 has reached an agreement to strive to achieve the common goal of 2050. The joint statement states that G7 as a whole will increase the installed capacity of offshore wind power by 150 gigawatts and expand the installed capacity of solar power to over 1 terawatt by 2030.

In order to achieve net zero greenhouse gas emissions by 2050 at the latest, the G7 has agreed to accelerate the “phase out of the use of fossil fuels that have not yet taken emission reduction measures”. In terms of coal, as part of the agreement passed last year to achieve “majority” decarbonization in the power sector by at least 2035, the G7 agreed to prioritize “specific and timely measures” to accelerate the phasing out of “domestic coal-fired power generation without emission reduction measures”.

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