G7 pledges moves away from fossil fuels, with caveats

G7 pledges moves away from fossil fuels, with caveats

  • 05/31/2022 11:40 am ET
descriptive image of divest from fossil fuels illuminated signage

Joe Brusky / Flickr / CC BY-NC 2.0

Seven of the world’s wealthiest nations announced Friday they had agreed to decarbonize their power sectors by 2035 and dramatically ramp up EV adoption by 2030.

For the first time, the G7 also acknowledged the need to assist developing countries address the damages caused by climate impacts and their need for adaptation. This assistance includes “providing enhanced support regarding averting, minimizing and addressing loss and damage associated with the adverse impacts of climate change,” they said.

The G7 nations also called for an end to government financing for overseas fossil fuel investments by the end of the year, while leaving an out for European nations currently struggling to obtain alternatives to Russian methane-based gas.

Republished from Nexus Media News, an editorially independent, nonprofit news service covering stories about climate change. It exists to improve public understanding of the climate crisis, shed light on the steps humans can take in response, and highlight the potential opportunities created by a just energy transition.

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