Dubai Telegraph - G7 pledges to quit fossil fuels faster, no new deadline

EUR -
AED 4.218957
AFN 74.661225
ALL 91.582971
AMD 417.457719
ANG 2.056463
AOA 1054.440663
ARS 1743.614232
AUD 1.610725
AWG 2.06753
AZN 1.957227
BAM 1.958584
BBD 2.314189
BDT 141.100567
BGN 1.933647
BHD 0.43308
BIF 3445.883141
BMD 1.148628
BND 1.468274
BOB 11.289342
BRL 5.906291
BSD 1.149053
BTN 110.098541
BWP 15.582625
BYN 3.475741
BYR 22513.103189
BZD 2.310945
CAD 1.607792
CDF 2654.479062
CHF 0.944284
CLF 0.027911
CLP 1102.062801
CNY 7.693107
CNH 7.700293
COP 3657.609688
CRC 514.039631
CUC 1.148628
CUP 30.438634
CVE 110.55587
CZK 24.347696
DJF 204.134569
DKK 7.475389
DOP 67.81758
DZD 153.643935
EGP 60.011386
ERN 17.229416
ETB 187.686889
FJD 2.545249
FKP 0.859109
GBP 0.857505
GEL 2.990867
GGP 0.859109
GHS 13.237162
GIP 0.859109
GMD 84.42856
GNF 10101.666796
GTQ 8.768617
GYD 240.39904
HKD 9.011042
HNL 30.845651
HRK 7.534658
HTG 150.176082
HUF 364.287725
IDR 20459.4717
ILS 3.487958
IMP 0.859109
INR 110.252582
IQD 1505.265866
IRR 1578903.655694
ISK 139.202636
JEP 0.859109
JMD 181.437904
JOD 0.814422
JPY 180.197158
KES 148.759217
KGS 100.447935
KHR 4656.761237
KMF 491.613064
KPW 1033.765308
KRW 1592.044397
KWD 0.353962
KYD 0.95759
KZT 513.710212
LAK 25757.976881
LBP 102859.612165
LKR 380.330553
LRD 198.788625
LSL 18.680779
LTL 3.391599
LVL 0.694794
LYD 7.294223
MAD 10.886907
MDL 20.194321
MGA 4981.210628
MKD 61.619198
MMK 2411.949927
MNT 4132.823691
MOP 9.2846
MRU 46.225512
MUR 54.640655
MVR 17.746733
MWK 1992.492937
MXN 19.78965
MYR 4.690656
MZN 73.40923
NAD 18.680942
NGN 1529.662418
NIO 42.280099
NOK 10.809019
NPR 176.162473
NZD 2.008793
OMR 0.442789
PAB 1.149063
PEN 3.877412
PGK 5.114426
PHP 72.2606
PKR 318.484727
PLN 4.363465
PYG 6811.860614
QAR 4.19998
RON 5.263476
RSD 117.119869
RUB 96.935341
RWF 1687.950767
SAR 4.280492
SBD 9.18961
SCR 16.157873
SDG 690.903792
SEK 11.290555
SGD 1.465768
SHP 0.858627
SLE 28.314099
SLL 24086.139517
SOS 656.64482
SRD 43.585257
STD 23774.274604
STN 24.535303
SVC 10.054598
SYP 14934.457826
SZL 18.674871
THB 38.295672
TJS 10.59989
TMT 4.031683
TND 3.380004
TOP 2.76562
TRY 56.015171
TTD 7.800223
TWD 36.503811
TZS 3043.85889
UAH 51.337638
UGX 4532.442628
USD 1.148628
UYU 46.207089
UZS 13604.57507
VES 973.444877
VND 29889.590367
VUV 135.812798
WST 3.158992
XAF 655.957
XAG 0.01734
XAU 0.000262
XCD 3.104224
XCG 2.070844
XDR 0.812139
XOF 655.957
XPF 119.331742
YER 271.708303
ZAR 18.687948
ZMK 10339.031894
ZMW 22.584693
ZWL 369.857655
SSP 6551.981415
MXV 2.243593
  • RYCEF

    0.7100

    20

    +3.55%

  • RBGPF

    -1.6900

    68.3

    -2.47%

  • CMSC

    0.0400

    20.71

    +0.19%

  • GSK

    -0.8400

    50.22

    -1.67%

  • RIO

    -0.6700

    97.37

    -0.69%

  • RELX

    -0.9700

    33.41

    -2.9%

  • BCC

    0.1600

    75.69

    +0.21%

  • BTI

    -0.1900

    55.83

    -0.34%

  • NGG

    -0.8000

    76.8

    -1.04%

  • BCE

    -0.2200

    22.06

    -1%

  • AZN

    -0.0600

    166.08

    -0.04%

  • VOD

    -0.5700

    16.95

    -3.36%

  • CMSD

    0.0000

    20.45

    0%

  • BP

    -0.8400

    44.58

    -1.88%

  • JRI

    -0.0600

    11.55

    -0.52%

G7 pledges to quit fossil fuels faster, no new deadline
G7 pledges to quit fossil fuels faster, no new deadline / Photo: HANDOUT - Japanese Government/AFP

G7 pledges to quit fossil fuels faster, no new deadline

The G7 pledged on Sunday to speed up the phase-out of fossil fuels and urged other countries to do the same, but did not set any new deadlines on the exit from polluting energy sources such as coal.

Text size:

In a statement following two days of talks in Japan, climate and environment ministers from the leading developed nations outlined efforts to keep global warming under the key 1.5 degree Celsius limit.

They vowed to "accelerate the phase-out of unabated fossil fuels so as to achieve net zero in energy systems by 2050 at the latest... and call on others to join us in taking the same action".

But the group did not offer any new deadlines beyond last year's G7 pledge to largely end fossil fuel use in their electricity sectors by 2035.

France's energy transition minister Agnes Pannier-Runacher said the wording on a fossil fuel "phase-out" was nonetheless a "strong step forward" ahead of the G20 and COP28 summits later this year.

"The most important progress we have made is clearly the fact that we agree to move away from non-carbon-offset fossil fuels," she told AFP.

Britain and France had proposed a new goal of ending "unabated" coal power -- which does not take steps to offset emissions -- in G7 electricity systems within this decade.

But with global energy supplies still squeezed by the war in Ukraine, that target faced pushback from other members, including bloc president Japan and the United States.

"I would obviously have liked to have been able to make a commitment to phase out coal by 2030," Pannier-Runacher said.

"This was not possible, and it is one issue on which we can still make progress in forthcoming discussions, particularly at COP28."

- Call to reduce 'gas demand' -

The Group of Seven, which also includes Germany, Italy, Canada and the EU, all target net-zero emissions by 2050 or sooner after signing the Paris Agreement to cap warming at well under 2C, and ideally 1.5C.

The ministers had been under pressure to announce ambitious steps after a major UN climate report warned last month that 1.5C increases would be seen in about a decade without "rapid and far-reaching" action.

But campaigners expressed fears ahead of the talks that Japan, supported by Germany and others, could lead backsliding on pledges such as ending new overseas fossil fuel financing.

G7 leaders said last year that the "exceptional circumstances" of Russia's war in Ukraine made gas investments "appropriate as a temporary response".

While Sunday's statement contains similar language, it also sets multiple parameters around such investments and highlights the "primary need" for "gas demand reduction".

Japan also wanted G7 recognition for its strategy of burning hydrogen and ammonia alongside fossil fuels to reduce carbon emissions -- which activists say only serves to extend the lifespan of polluting plants.

But the statement simply notes that "some countries are exploring" the potential of hydrogen fuels, adding that this should be "aligned with a 1.5C pathway".

Other new pledges were hotly debated in draft statements seen by AFP, such as a goal to halve CO2 emissions from G7 vehicles by 2035.

In the final statement, the countries only "note the opportunity" to do so.

Y.El-Kaaby--DT