G-7 nations agree to speed up efforts to slow global warming
Apart from contributing to the efforts to slow down global warming, the ministers also committed to terminating government support for new coal-fired power plants by the end of 2021.
The Environment Ministers from the seven leading industrialized countries around the world on May 21, 2021, pledged to accelerate the efforts to slow global warming.
The pledges by the ministers of the G7 group were part of a wide-ranging communique which was issued by the Group of Seven environment ministers after a virtual meeting from May 20 to May 21 hosted by the United Kingdom, which currently holds the G-7’s rotating presidency.
The G7 includes Britain, the US, Germany, France, Italy, Canada, and Japan. China, the world’s biggest source of carbon emissions is not a member of the group.
While the commitments by the G7 group don’t cover other countries, the communique by the ministers includes a call for ‘all countries to join in this action'.
Last week #G7 Climate & Environment Ministers agreed major action to tackle climate change:— G7 UK (@G7) May 24, 2021
🌊 protect of 30% of the world’s land & ocean by 2030
🌿end all new finance for coal power by the end of 2021
💰increase the quantity of finance for climate actionhttps://t.co/ppvvjT4hRp
G-7 Environment Ministers commitment: Key details
• Apart from contributing to the efforts to slow down global warming, the ministers also committed to terminating government support for new coal-fired power plants by the end of 2021.
• At the heart of the Communique issued by G-7 is also a commitment to limit the global temperature increase to 1.5 degrees Celsius over pre-industrial levels, compared to the previous goal of 2 degrees.
• The G-7 environment ministers also promised to combat overfishing and deforestation, to tackle the scourge of ocean plastic, and promote biodiversity, while seeking to prevent future outbreaks of diseases such as Coronavirus that spread from animals to humans.
IEA report calls to reduce carbon emissions
The statement by G-7 environment ministers came days after the International Energy Agency released a report mentioning that the governments need to speed up their efforts to reduce carbon dioxide as well as other greenhouse gases if they hope of reaching their goal of net-zero emissions by 2050.
The report by IEA made series of recommendations. It included immediately ending the investment in new fossil fuel supply projects as well as stopping the sale of gasoline- and diesel-powered cars by 2035.
As per IEA, the world has a viable pathway for building a global energy sector with net-zero emissions in 2050. However, it is extremely narrow and needs an unprecedented transformation of how energy is transported, produced, and used globally.
IEA is a multilateral organization that provides analysis as well as policy recommendations on energy issues.